What is Wealth?
Wealth means stock of assets. Wealth means stock of assets held by an individual or institutions that yields or has the potential of yielding income in some form. All economic goods are considered as wealth in economics. These include money, shares, land buildings, etc… The four characteristics of wealth are utility, scarcity, exchange value and transferability.
Common Answer
Accumulation of assets is called as wealth, which the individual will satisfy all the wants, responsibilities and goals from his resources. But it’s equally essential to consider inflation’s impact on the value of money over time. One who accumulates assets can lead happy and successful life. Before trying accumulation of assets, one has to remember HEALTH IS WEALTH. So always try to be healthy individual.
Who will enjoy the financial freedom?
An individual who safeguard the planning of savings to satisfy all wants, responsibilities, goals in future will enjoy the financial freedom.
