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by FrustratedMonky 1018 days ago
Technically you are correct.

The term "Wealth" is just a word for money.

Pedantically, any money can be termed "Wealth".

So if I have an extra $5 dollars, I can manage that "Wealth", and I should not get hung up on a term that the ignorant masses associate with a "Social Class".

There are no social hierarchies, we are all wealthy on a sliding scale, from 5$ to $5MIL to $50BIL.
1 comments
RockyMcNuts 1017 days ago
money is a particular type of wealth that is used as a medium of exchange, a unit of account, and a short-term store of value. qualities that make something money-like include divisibility, fungibility, portability, liquidity, easy transferability, wide social acceptance.

wealth can take many forms including human capital, social capital, future earning power, you can be wealthy in some way and yet cash-poor

- one of the apparently ignorant masses

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FrustratedMonky 1016 days ago
Do I have to list every asset type and their relationships, to make a point about a word?

I don't think it is surprising that the word "wealth" is used by a lot of people in different ways.

I was accused of using the word incorrectly as in "Wealth" means only "Rich" people. I was wrong because a lot of "non-Rich" can also manage their "Wealth". Someone in the comments even considered having 5Mil of assets to be NOT Rich, NOT wealthy.

It seemed like in the comments there was push back that just because they are managing their "Wealth" that they are NOT Wealthy, and so don't lump them into that category.

Instead of "Wealth" meaning, long list of asset types.

I think maybe that is the point. If you have enough 'assets' and free time to ponder the concept of "wealth" as units of exchange and the nature of money and future earning power, then you are probably "Rich" to many people.

So if you are needing a software tool to manage your "Wealth" then you probably have more "Money/Assets/Fungible Stuff" than most, like >5% of worlds population, so you could be considered "Rich". Then because you are "Rich", "Wealthy", "Have lot of Money", yes, you can be grouped with "Rich" and people can have opinions on the group of "Rich" people.

So I think it is ok to assume if someone needs tools to manage their "Wealth", that I can assume they are "Wealthy".

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