describe the various forms of wealth
Answers
Answer:
There are 4 types of wealth:
Financial wealth (Money)
Social wealth (Status)
Time wealth (Freedom)
Physical wealth (Health
The majority of people think of the word ‘wealth’ in terms of finances only but this is a narrow view of what it means to be wealthy. Wealth consists of every area within one’s life — health, relationships, finances, time, so on and so forth.
Below, we’ll go through each of these 4 types of wealth to give a deeper perspective on them and how they relate to your own personal life.
Financial Wealth (Money)
Financial wealth, in other words, money is what we naturally think about when we hear the term ‘wealth.’
Social wealth:
Social wealth or status is one of the most underrated types of wealth that exist because we naturally don’t think of status as a form of wealth. We understand that status has value but we never make the connection that it’s actually a type of wealth.
Time wealth:
Time wealth or freedom is defined as having your own time to spend how you want, where you want, with whom you want.
Time wealth is what the majority of people really want along with the other types of wealth of course. But, time wealth is something that is rare in the modern day for the majority of people because they spend all of their time dedicating their resources, both physical and mental, to earning money.
Explanation: