Being rich and being wealthy are two different things.

[CryptopreneurBrainboss]

It's not how much comes in as earnings, it's about how much your dependent on the next payment!

Lets not be confuse here because both the rich and wealthy aren't dependent on their next paycheck since they both have more money coming into their account then they're spending but what differentiate them  is just the amount of money they have in their estate to their name. Wealthy has to be in the $100's of millions to Billionaires while the rich are just in the $1 million to the tens of millions but still aren't in the 1% of the 1% of rich people yet.

Not many people can make it to the wealthy status but we'll have the rich level being reached by more people if they just put more work both hard/smart into what they're doing but wealthy is generational that if you want to attain, you'll have to be on the top level of business that operates on billionaires levels.

Owning business, Oil and gas, industry, real estate etc has to be the business you operates on. Wealth not only comes from your money working for you but people in their number's working for you and if it's in investments then your millions working for you to acquire billions.

[Abdulzuruku01]

If we don’t practice good financial habits while earning a good income, we’ll never reach our goals. I agree with OP on this point. Someone who earns a lot of money but doesn’t make smart investments could lose their entire savings one day. On the other hand, someone who earns less than others can still achieve financial freedom by making wiser financial choices. Earning money is important, but investing it in the right financial instruments is even more crucial. Earning money is about the present, but investing it in the right financial instruments is about the future...

Some people actually misunderstand the difference between the two, because there are some individuals who are only focused on how to get money and spend it without any plan for investments that can keep growing that money. This mostly happens to some salary earners in my country. 

Because In my country, some salary earners spend most of their money on things like a nice house, an expensive car or motorcycle, and other things they need at that particular time. But after retirement they are left with no sustainable source of income. In a nutshell a wealthy lifestyle can be achieved if a salary earner keeps investing some part of his monthly salary in other investments.

[ZAINmalik75]

Being rich is not a guarantee to be wealthy. However, it can give us the highest possibility to be wealthy someday because funds are already there, we just have to make use of that the most profitable way. Saving isn't enough, we need to invest in different potential assets and diversify, this is the only way to gain multiple sources of income. And once it happened, you are no longer just rich, you're already wealthy enough because sources of funds have become unlimited.

You are right, and there is one more thing that must be noted, and it is that how can we identify someone as being rich? Or how do we know someone is rich? It is mostly by the lifestyle they have, right? Like having a big house, luxurious cars or a car, wearing designer cloths and other wearables costing a lot of money, etc. Now, we also need to understand that there is a very big difference between someone who is rich and someone who is wealthy, because when you are rich, you are basically just earning good money, but most of your money is just going towards the luxuries you have created and to maintain it, which often leaves you with nothing much that you can utilize to make investments or build assets for your future.

Now, the only thing that can create the possibility of someone rich potentially becoming wealthy over time is for them to use their income wisely. If you are earning good, don't spend all your money on creating luxury in your life, because it's not going to be permanent because as soon as you lose your job or your income, you won't be able to maintain the same lifestyle, and you will slowly lose everything, but if you spend your money in the right way and on the right things, you can have those luxuries for your whole life once you become wealthy.

[passwordnow]

Timely, I've seen some Indian guy made a content about going home and saying that "this is rich" and that is going home which his family, wife and 3 kids awaits on the garage.

Someone earning a lot of money does not mean that he is wealthy.

I think that the real wealthy people are silent, they're not flaunting the assets and businesses that they have. You'll never know that they're also the same people you bump in the streets as you walk along going to the cafeteria.

[nara1892]

Everyone certainly has a different perspective on how to approach things. For you, perhaps being rich isn’t about how much money comes in but isn’t that exactly how we define wealth? How much you spend depends on your lifestyle, but in my opinion, the measure of wealth is still determined by how much you have compared to most people in general.

[SUPERSAIAN]

The real difference is dependency. A rich person needs their next paycheck/deal/month of revenue to pay for their lifestyle. A wealthy person owns assets which pay for their lifestyle.

Time and optionality are real wealth if your costs of living are paid for by assets. Someone with a lower income that invests in income producing assets consistently can be freer than someone making 10x as much and spending almost everything to show how successful they are. Cashflow is important but owning your time is better.

If your cash flow is good and you can use your time however you want, then that’s what true wealth is. I think being financially well-off is probably the path to becoming truly wealthy, but everyone has a different definition of what it means to be well-off or rich. Even if you have millions of dollars, you might not be able to stay wealthy. Managing that money is what really matters.

[knuckey]

Wealth and rich are indeed different but closely intertwined. In essence, wealth is the assets and material possessions. So what about inheritance? Is that considered rich or wealthy?
It's impossible to be rich without wealth. In my opinion, if someone is burdened and feels out of breath trying to meet their needs, then they don't deserve to be called rich. However, if they can easily pay off their debts, then I call them truly rich.

[Nalain420]

The realization of a good financial strategy is essential for achieving financial independence in the future. High incomes in combination with insufficient research will lead to total bankruptcy as a result of misplacement of funds. Proper planning in advance guarantees that all stages of asset placement are done correctly to ensure the future. Proper selection of instruments for investing is necessary in order to safeguard against the serious mistakes made by novices in the world of investments. Good golden opportunity will bring maximum benefits if there is sufficient research that has been done beforehand.

Being rich is not an easy as people are dream to be . There are people who want to be rich but they are are using illegal ways which is not making them successful. That is a time of social media and people are influenced by the people to which they didn't met to them . If you are a person who is new in the market people will take advantage from you and you will face consequences of that. The people who are not rich they want to be rich because having a lot of money is a dream of every person but every dream will not come true due to input and output cycle of us in our mind. If we will start to get a good knowledge and we will implement it then consequences will be good as we gave excellent input to our mind.

[Bityar]

I understand your point there are some peoples i have seen also like they earn a lot of money but spend it on useless thing or spend it all recklessly or on temporary things because they have not any proper plan and they just think that if this money finishes than more will came but when the money doesn’t came they face financial woes. So the true wealth comes from investing wisely in some productive assets starting some businesses which makes you more profitable but with proper financial plan and business strategy. Temporary rich will makes you happy for some time but if you want to become a true wealthy person than you should invest somewhere.

[savetheFORUM]

Op nobody can become wealthy via earning, the highest they can become with a high pay rate is getting rich which is a lot different from being wealthy.
Here is why wealth and rich are two different things. Anybody can become rich overnight but for wealthy that is really rear except it was an inheritance. Aside that wealth is not just money, it comprises of other things as well and money is just the product or the result of those other value the wealthy person has built in his life, and that is why it can be passed down to several generations so long as they keep teaching the next generation the principle that got the founder to that level.
One can become rich by hitting the jackpot in a casino but you know what’s common among this kind of money? They might end up being spent back to where it came from. Though there are people who also became rich with genuine slow practice and evolving motion but the difference with this type of money and wealth is, it cannot be passed down to several generations.

If they are rich, they are already half way of becoming wealthy. All they need to do is save some money for the future while still earning decent wages. If they remain consistent in terms of savings, they would soon be able to save enough to retire early.

I would only call one wealthy if they are able to retire in their 30s and spend the rest of their life in some nice place without having to worry about money. Being wealthy will also bring peace of mind. Being rich is still going to be exhausting because we need to spend the same amount of time every single day in order to maintain wealth. Any sudden pause would drastically bring them on the lower scale.