After stating that I want to be wealthy, I thought it would be a good idea to define what exactly I mean by “wealth”. Well, I’ve been mulling this over in my head for quite some time but I haven’t been able to put it into words in a succinct manner. Lo and behold, Meg over at The World of Wealth has summarized the wealth-building process and has a definition that I really like:

Wealth: the generation of enough income to comfortably exceed your expenses, while simultaneously providing you flexibility, security, independence, and freedom.

She goes on to explain this in more detail and then gives some simple steps for becoming wealthy. Go on over and check it out, it’s good stuff!

- Dave