Can Someone and Rich on Paper and Still Struggle Financially?

[Opiate32]

I have seen situations where someone has a house, a good car and still running a business but yet the person still struggles to sort out everyday expenses. From the outside you will probably assume that the person is doing very well financially but in real life the person is completely different.

I think we sometimes judge wealth by what people have without even considering how much money they have available. A person may have millions in properties and businesses but that doesn’t mean that they can easily get access to that money when they need it. Having valuable assets is a good thing but I don’t think it means that someone is financially comfortable. After all you can’t always sell part of your house or business just because you want to cover an unexpected expense.

This make me wonder whether we sometimes have the wrong idea about what being wealthy really means. Do you consider someone rich if they have valuable assets but struggle to meet up with their everyday expenses or do you think financial stability depend on how much money a person can readily access?

[Dickiy]

This make me wonder whether we sometimes have the wrong idea about what being wealthy really means. Do you consider someone rich if they have valuable assets but struggle to meet up with their everyday expenses or do you think financial stability depend on how much money a person can readily access?

In general we have to look back at the definition of rich is what. Simply put, a person who is called Rich is that all his needs are met both for the present and for the future. It is not a matter of how many assets, properties, cars and businesses are owned, but about managing expenses that are offset by income.
If a person looks rich from the outside but in fact can not provide a sense of security for himself, still fret every want to meet daily needs means that the definition of rich it does not apply.
Now back to the views of the rich according to each one, even you yourself can make a standard definition of wealth based on what you have without having to look rich to others.

[Joy_learns_crypto]

I have seen situations where someone has a house, a good car and still running a business but yet the person still struggles to sort out everyday expenses. From the outside you will probably assume that the person is doing very well financially but in real life the person is completely different.

I think we sometimes judge wealth by what people have without even considering how much money they have available. A person may have millions in properties and businesses but that doesn’t mean that they can easily get access to that money when they need it. Having valuable assets is a good thing but I don’t think it means that someone is financially comfortable. After all you can’t always sell part of your house or business just because you want to cover an unexpected expense.

This make me wonder whether we sometimes have the wrong idea about what being wealthy really means. Do you consider someone rich if they have valuable assets but struggle to meet up with their everyday expenses or do you think financial stability depend on how much money a person can readily access?

I think it is you that have the wrong idea, someone who has millions in properties in a valuable currency and a working business together with valuable assets is a comfort man or woman, I don't know what philosophy you want to make out of this but that person is comfortable.
Such person having all it takes to get access to money for spending, that is what the wealthy do, they don't sell their assets they go to borrow loans especially from banks and when their financial status is fact checked their loans are usually approved.

You aren't meant to judge someone's wealthy from asset that depreciate, but if you have concrete evidence that someone have assets that appreciate and they are worth millions above that person is comfortable.

[Doan9269]

Are we not able to see some people who have money in their bank account or in their crypto portfolio and yet suffer in life, all because they failed to realize their potential and turned into a slave to what they would have ccontrolled.

Ignorance is one of the key reason to why some people are suffering for what they should be benefiting from, this is why we should make our money work for us and not struggling to live a life with the wrong mentality of saving our morning when we ought to put them at work and to make more profit from it, some so many people doesn't have money and are in position of influence in the society today, you only have to discover on our various abilities and how we could fit into some areas of need by being responsible.

[Jubilee58]

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I have seen situations where someone has a house, a good car and still running a business but yet the person still struggles to sort out everyday expenses. From the outside you will probably assume that the person is doing very well financially but in real life the person is completely different.

Owning a private house, personal car, and running a business doesn't make someone rich or be able to take care of his responsibilities. There are many things that can result to someone being incapable of taking care of his responsibilities even when the person has car house, and also running a business. In the first instance, private house, and private car does not yield money, and a private car becomes a liability when it is yielding no money. However, if this person has this particular business as his only source of income, it may not be enough to take care of everything such as feeding, bills , and other fees. Furthermore, when a business is still in it's early stage, you need to be careful the way you tamper with the money otherwise such business in it's early stage can liquidate.

More also, understanding business, and financial management can help you succeed in your business, but when you lack these skills as a business man even when you invest huge amount of money in your business, that business will not thrive instead it will be going down.

[SOKO-DEKE]

I have seen situations where someone has a house, a good car and still running a business but yet the person still struggles to sort out everyday expenses. From the outside you will probably assume that the person is doing very well financially but in real life the person is completely different.

Anyone who is seriously struggling to meet their basic needs, I will not consider such a person wealthy. To me, being wealthy involves having valuable assets, investments, businesses, and different sources of income that can take care of one's needs and handle any emergencies that may arise.Having a house, a good car, and a business does not necessarily mean someone is wealthy. Someone can build a house, acquire their dream car, and establish a business after winning a jackpot, but it is very possible for that person to run out of money after making those purchases and eventually start struggling financially.So, for someone to be considered wealthy, in my own understanding, it is not only about the value of their assets but also about their sources of income. It would be difficult to see someone earning a reasonable amount of money and still struggling to meet their everyday needs.What I have noticed about many wealthy people is that they don't necessarily live lavish lifestyles,rather, they focus on having enough to comfortably meet their needs.

[Lida93]

Having material possessions doesn't necessarily connote having assets, the reality here is that such possessions require maintenance which attracts spendings here and there, now and then, you would always be required to pay the utility bills, powers supply, security, domestic staffs etc, maintaining the cars and also buying spare parts which doesn't add anything to your income and these and more only drain you financially,.Hence the need to invest your money on several investments that could yield multiple income is smarter than acquiring things that do not generate income.

[Pearl_20]

Yes, exactly for you to say that someone is financially stable that person should be able to have access of money not just today but every single day to sort out daily expenses. Just like you said some people say they don't have money but when you look at them you see properties attached to their names and no physical cash to take care of some bills as landed properties are valuable but takes time to sell it out but someone who has business, or decides to build houses for rent or shops for rent will see money and that Money comes with ease, it doesn't stop flowing.

There's something about Humans though, two people can earn the same amount of money while the other person will use it to buy lands, car's and the other person decides to put it in business like physical business that will generate money easily for those two the one who can Access money is financially stable compared to the other who has properties everywhere but no way to get reach of it of anything happens it's about taking the right decisions. You can't sell your house to meet up expenses but you can use that business if the business is a successful one to meet up any expenses every single time. A rich man is someone who has assets and can still take care of responsibilities around him repeatedly, if you're broke but have properties to your name and when something happens you can't do anything to solve it or even take care of yourself then such person can't be called a rich man for me.

[tsaroz]

I have seen situations where someone has a house, a good car and still running a business but yet the person still struggles to sort out everyday expenses. From the outside you will probably assume that the person is doing very well financially but in real life the person is completely different.

I think we sometimes judge wealth by what people have without even considering how much money they have available. A person may have millions in properties and businesses but that doesn’t mean that they can easily get access to that money when they need it. Having valuable assets is a good thing but I don’t think it means that someone is financially comfortable. After all you can’t always sell part of your house or business just because you want to cover an unexpected expense.

This make me wonder whether we sometimes have the wrong idea about what being wealthy really means. Do you consider someone rich if they have valuable assets but struggle to meet up with their everyday expenses or do you think financial stability depend on how much money a person can readily access?

I have an example of it. There's one of my relative who have a lot of land and houses in prime locations of the city whose valuation are on millions but he don't have liquid cash and he's unable to sell the land immediately as there's economic stagnation and people are not taking large loans for real estate. He has no steady income of his own and struggles to meet the monthly expenses. It's like buying crypto at high price before crash and holding onto it as you don't want to have loss. You know it would increase and give you a profit but you don't know when and you need that money.
Sometimes not have liquid cash or an income stream could make you struggle even if you valuation is large.

[PVequalNRT]

This make me wonder whether we sometimes have the wrong idea about what being wealthy really means. Do you consider someone rich if they have valuable assets but struggle to meet up with their everyday expenses or do you think financial stability depend on how much money a person can readily access?

Did you not see what was going on in Binance when it was hack. The exchange is worth billions and the founders are super rich but all are on paper, they are not liquid in many assets even though they can sell them but if they do, it will impact on the price and the worth might not be worth the original price it were in the beginning. This is why when they run into some financial difficulties, they used their assets to take loan to pay for anything they want.

I don't think there is any man on Forbes list that is liquid in assets they are worth. They have to sell that asset before they can used them which is impossible to everything at once.

[Oasisman]

This make me wonder whether we sometimes have the wrong idea about what being wealthy really means. Do you consider someone rich if they have valuable assets but struggle to meet up with their everyday expenses or do you think financial stability depend on how much money a person can readily access?

Defining rich depends on the person's ability to earn and his financial status. A person who lives paycheck to paycheck and he doesn't have his own house, car, or his own business, may call them rich because they possess assets and things that he doesn't have.

When a person's income increases, their expenses also increases, because they can now buy the things they can't when they earn lower income that what they had. They can also put things into credit, without worrying if they are able to pay monthly dues. And so, this is where the struggle begins. I know some people who have their own car, house, and business, and some luxury things, but most of them are made out of loans. Paying them monthly surely a pain in the ass, and that is where the struggle happens.
So, for the people who have these things, defining "rich" are those people who can afford everything they have in cash upfront.

[nara1892]

If, for example, someone is still struggling to meet their daily needs, then where does the definition of “rich” lie in your opinion, OP? Rationally speaking, the definition of “rich” is when someone’s financial situation is above average compared to most people, and they’re certainly more than capable of meeting their daily needs. Honestly, I’m a bit confused when I hear about people who are said to be rich but still struggle to meet their daily needs that’s strange.

Wealthy people do indeed invest most of their wealth in assets that can continue to grow and provide long-term returns, but before reaching that stage, they’ve surely already taken care of their daily needs first right?

[Cryptomultiplier]

I have seen situations where someone has a house, a good car and still running a business but yet the person still struggles to sort out everyday expenses. From the outside you will probably assume that the person is doing very well financially but in real life the person is completely different.

I think we sometimes judge wealth by what people have without even considering how much money they have available. A person may have millions in properties and businesses but that doesn’t mean that they can easily get access to that money when they need it. Having valuable assets is a good thing but I don’t think it means that someone is financially comfortable. After all you can’t always sell part of your house or business just because you want to cover an unexpected expense.

This make me wonder whether we sometimes have the wrong idea about what being wealthy really means. Do you consider someone rich if they have valuable assets but struggle to meet up with their everyday expenses or do you think financial stability depend on how much money a person can readily access?

I have an example of it. There's one of my relative who have a lot of land and houses in prime locations of the city whose valuation are on millions but he don't have liquid cash and he's unable to sell the land immediately as there's economic stagnation and people are not taking large loans for real estate. He has no steady income of his own and struggles to meet the monthly expenses. It's like buying crypto at high price before crash and holding onto it as you don't want to have loss. You know it would increase and give you a profit but you don't know when and you need that money.
Sometimes not have liquid cash or an income stream could make you struggle even if you valuation is large.

That's the reality of living despite huge investment and no cash flow. A person without funds to meet their everyday expenses isn't rich.
They just have assets that isn't matured.

From my understanding, liquidity and cash flow is what determines financial stability and wealth not stagnant immature assets sitting and waiting for maturity.
If you can sleep everyday at night without bothering about where you will get money from to spend the next day without selling your property cheaply, then you are rich and have true wealth, otherwise, it's the exact opposite.

[Pablo-wood]

I have seen situations where someone has a house, a good car and still running a business but yet the person still struggles to sort out everyday expenses. From the outside you will probably assume that the person is doing very well financially but in real life the person is completely different.

This is only possible if the business runs on loan or the person involved is not the direct owner of the business possibly a sales rep who has access to vehicles that help make their work efficient. A business owner struggling is almost impossible. Yes they might not afford everything at once but they can plan towards anything they want.

This make me wonder whether we sometimes have the wrong idea about what being wealthy really means. Do you consider someone rich if they have valuable assets but struggle to meet up with their everyday expenses or do you think financial stability depend on how much money a person can readily access?

Wealth is created, it is not an instantaneous achievement. Most wealthy people grew theirs over a long period of time through patience, dedication and commitment to their businesses and investments. Having valuable asset doesn't imply wealth some of them planned towards owning what they have. Wealthy people spend without feeling the effect of what they have given out.  

[Anayochukwu]

I have seen situations where someone has a house, a good car and still running a business but yet the person still struggles to sort out everyday expenses. From the outside you will probably assume that the person is doing very well financially but in real life the person is completely different.

Having just one house,  a car and a business doesn't necessarily mean that you are rich, there are few questions you need to ask first. Is the business a big business that is worth millions?  What makes you think that a house and a car automatically means wealth? There's a huge difference between being rich and what you just said.

I think we sometimes judge wealth by what people have without even considering how much money they have available. A person may have millions in properties and businesses but that doesn’t mean that they can easily get access to that money when they need it. Having valuable assets is a good thing but I don’t think it means that someone is financially comfortable. After all you can’t always sell part of your house or business just because you want to cover an unexpected expense.

Op I don't know what you trying to say because what do you mean that a person may have millions in properties and businesses but can't easily get access to it when you need it? And what do you mean that having valuable assets doesn't mean that someone is financially comfortable? So if these are not the meaning of being rich and comfortable then what exactly is? In my opinion I think that being wealthy and rich is having valuable assets and your properties and businesses Worth millions can be accessible any time you wish.

[Rruchi man]

This make me wonder whether we sometimes have the wrong idea about what being wealthy really means. Do you consider someone rich if they have valuable assets but struggle to meet up with their everyday expenses or do you think financial stability depend on how much money a person can readily access?

I think the latter best describes what financial stability should look like because people who own properties bought find it difficult to sort out their daily expenses; it only means that they were at some point very rich with a lot of cash that they did not invest or spend wisely to still have dispensable cash to sort out their basic daily needs. An individual who possesses assets that bring them money occasionally but does not have money readily dispensable to spend on both emergency needs and the ones that are planned for regularly, that person is not financially stable, and perhaps we cannot say that person is truly rich.

A financially stable person may not be rich yet; they may not yet have properties, but financial stability is an indication that ownership of properties and other assets will not be long as long as you plan well for it.

[noorman0]

-snip-
This make me wonder whether we sometimes have the wrong idea about what being wealthy really means. Do you consider someone rich if they have valuable assets but struggle to meet up with their everyday expenses or do you think financial stability depend on how much money a person can readily access?

How can you be sure they are struggling? The fact is, wealthy people can do whatever they choose, including extremely restricting themselves from unnecessary spending. All they have to do is keep the majority of their portfolio in illiquid assets.

I think the idea that the wealthy struggle to make ends meet is an overly dramatized narrative.

[Fragrance1122]

I have seen situations where someone has a house, a good car and still running a business but yet the person still struggles to sort out everyday expenses. From the outside you will probably assume that the person is doing very well financially but in real life the person is completely different.

I think we sometimes judge wealth by what people have without even considering how much money they have available. A person may have millions in properties and businesses but that doesn’t mean that they can easily get access to that money when they need it. Having valuable assets is a good thing but I don’t think it means that someone is financially comfortable. After all you can’t always sell part of your house or business just because you want to cover an unexpected expense.

This make me wonder whether we sometimes have the wrong idea about what being wealthy really means. Do you consider someone rich if they have valuable assets but struggle to meet up with their everyday expenses or do you think financial stability depend on how much money a person can readily access?

I work in an industrial state in my district. My father told me a few days ago that if there is any security job or any other non-managerial work I would like to refer a friend of mine. I said I will ask my colleagues if there is any opportunity I will let you know then. By the way who is the guy looking for job. He showed me the picture and when I saw him I was shocked because he used to walk like a millionaire in our native language.

I told my father isn't he the same guy who used to walk like he owns this earth. He said exactly but you never know what is behind their back. Seriously when I saw your post that guy directly came to my mind.

[Queen Julie]

I have seen situations where someone has a house, a good car and still running a business but yet the person still struggles to sort out everyday expenses. From the outside you will probably assume that the person is doing very well financially but in real life the person is completely different.

I think there’s a difference between looking wealthy and actually being financially comfortable, like you said someone can own a house and good car but still struggle financially. But the thing is the person will struggle financially if those things come with debts or expenses they can’t maintain. So I won’t judge someone’s financial situation based only on what they have.

Although I also believe that if someone’s business is doing well and generating good profits, it’s difficult to say they’re struggling financially. To me, wealth isn’t about owning expensive things, it’s also about owning a steady income and good money to enjoy the life you’ve built without constantly worrying about money.

[Abdul Sami786]

I have seen many examples and incidents where people are financially very strong but do not have cash in hand.I think this is not a big deal because there can be many reasons for this such as having a lot of land but not receiving any cash from it, so despite having a big asset they face financial difficulties.Having a big business but the profit from this business is very low. This can also be a part of financial difficulties.Monthly income is good but due to increasing daily expenses, this income is also feeling low.This means that instead of empty land a house or a big business create assets that give you financial freedom and save you from problems.