From basics to billionaire: Here are the three stages of wealth.
There are three levels of financial security that money provides.
1. The first level is when you no longer have to worry about covering basic necessities like food and shelter.
2. The second level is when you can comfortably afford your wants and desires, such as travel, dining at fancy restaurants, shopping, and buying high-end gadgets and cars.
What luxury would you spend money on?
- Fancy trip
- Fancy meal
- Spa day
- Special concert or event
- Something else (please tell us in the comment section)
3. The third level is when you don't have to worry about covering expensive healthcare or retirement costs.
Beyond these three levels, there is a final stage where money can provide power, leverage, and influence. However, once these three levels are met, any additional money one has is simply a bonus.
Therefore, a person whose lifestyle is at or near the third level is considered to be in the upper class.
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