Thursday, September 27, 2007

What's the difference between Wealth and Affluence?

The word Wealth comes from the word "weal" meaning a great surplus of money and property. Affluence is a derivative of "allure" a Latin word that means to flow freely.

The affluent drive expensive cars and live in big houses. More often than not, people who may appear to be wealthy are actually affluent. Conversely most people who are wealthy do not flaunt their wealth; they live modestly, they save and invest and have a plan for their future.

Warren Buffet drives around Omaha in a 2001 Lincoln Town Car with the license plate "THRIFTY" and has lived in the same house he bought in 1958 for $31,500. And he is the second wealthiest man in the world. Jim Walton heir to the WalMart fortune continues his father's tradition. His father Sam Walton use to drive around Bentonville, Arkansas in a beat up pickup truck.

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