Managing your money effectively matters so much more than your income.
Which is better to have, high wealth or a high income?
The question isn’t a good one, and lacks nuance, but it’s a good test, in case you think to yourself, “aren’t they the same thing?“
You could be excused to think that if you possessed a high income, you’d be wealthy. I mean, it seems as obvious as the Monty Hall problem.
And, if you’re familiar with the Monty Hall Problem (in case you don’t know, it’s the brain teaser with the doors and the car and the goats), you know that what is obvious is also wrong.[Read more…] about Remember: income and wealth aren’t the same thing