You may have heard the buzz about the difference between being rich and being wealthy. Rich is Burberry on your back. Wealth is money in the bank. And chances are your wealthy peers are more abundant—and unsuspecting—than you think.
Those who have figured out the best ways to build wealth tend to follow a set of guiding principles that quietly shape their financial success. In contrast, their peers who might earn just as much could be missing the wealth building strategies that anchor a stable, prosperous life.
Matt Willer, managing director of Capital Markets and partner at Phoenix Capital Group Holdings, LLC, believes that while everyone has a finite earning potential, those who adhere to a solid financial plan can enjoy both immediate benefits—such as an emergency fund—and long-term rewards that secure their financial future.
This post originally appeared at Forbes Advisor.