 Good evening. So in this video, we're going to talk about the difference between being rich and wealthy as taught by Grant Cardone So for a long time, I believe that being rich is the end-all be-all of my plans I just need to get a million dollars I just need to get to this point this much money and then I'll be good I'll just put it in account just put it aside make like 8% on it every month and I'll be fine But then the more money I started making the more I realized that your financial situation is not equal to how much money you make There are people that make a lot of money, but are actually very poor because at the end of the day There's a huge difference between again the words rich and the words wealthy So let's define the two words. So when you're talking about rich And we can talk about rich in anything we can talk about rich in money But also rich in relationships in health in love So when you're rich, it means you have basically a lot of something But the problem with a lot is that it can go away You know people who are football players for example make an average of two million dollars a year and most of them Most of them about 80% end up broke just two years after they finish their career on the other hand You have wealthy. So wealthy healthy sorry, so wealthy Basically means roots. It means that no matter what happens in your life. No matter what conditions Arise in your life someone in your family Has gotten horribly sick you the market completely tanked and there's a recession Your mother asks you for help because her pension ran ran out and she can't afford to live anymore You can still handle all those. So what wealth means is? security It means affluence But most importantly it means protection It means that no matter what happens in life no matter how bad things get unprotected People think that if you save money you're protected That's the average thinking is that just take your money put it aside And if you have a big enough ink and a big enough sum of money set aside no matter what happens You'll be good But then what happens because they didn't create a big enough income in the first place because they didn't create wealth and actual Security the moment that something bad happens the regular family the high Median income family that has the two BMWs the nice house and the $500,000 left aside Suddenly there's a recession the husband loses the job The kids need to go to college. So just $200,000 of debt and Basically all that money all that security you've built up was fake because the moment things went bad. You've lost it So you need to focus in your life on building wealth in everything You need to make sure that you're protected and this should be your new financial goal. It should not be I want to have one million dollars because a million dollars if you actually Put it into a math and not just in your head because people put it there. You see that out of that million dollars About 50% will get lost in taxes because the money you make from regular income not from investment is gone But now what do you have you have a car you have a mortgage You have kids You have so many expenses that at the end of the day even a million dollars doesn't sound like a lot of money So what are you gonna aim for what is the right thing to aim for the right thing is again full? Protection is to create so much wealth so much abundance That absolutely no condition can destroy it. It doesn't matter if there's a terrorist attack The there's suddenly there's the market goes down something happens in your family You keep that money and you don't lose it. You don't lose that condition That's what happens when you have a lot of really strong Relationships in your life no matter what one or two or five things happen You're not going to lose them. So you want to treat your money the exact same way So it does not matter how much money you're earning what matters is what you do with it And how you invest it wisely and create multiple flows of income so that no single event can destroy it And let me tell you that if you have just one source of income just one place where your money is coming from You're already no matter how much money that source is making if you're even if you're making 15 million dollars a year from that one Source you're rich. You're not wealthy because the moment that something happens to it Let's say that something happens and you can't work anymore. You immediately lose that source source of income So it was actually fake wealth. It was it looked like a lot But then the moment the supply ran out you realize that it's actually nothing so create a situation where you're Indestructible where nothing bad can hurt your situation and do that in your marriage Do that in your business do that in your health create so much abundance That no single bad thing can destroy your situation That should be your new target and that target if you actually put it in math You'll see that's probably 10 or 20 or 50 times higher than your originally thought So go for broke go for the most you can and then you'll be protected and then you'll be happy