Rich and Poor

Rich and Poor

Key difference: The rich have money and wealth; hence they can afford to spend frivolously other than spending on their basic needs, such as food, clothing and shelter. The poor on the other hand lack money and hence struggle to meet their basic needs and demands.

The term ‘rich’ and ‘poor’ are used to describe people on the opposite sides of the spectrum. The rich have money and wealth; hence they can afford to spend frivolously other than spending on their basic needs, such as food, clothing and shelter. The poor on the other hand lack money and hence struggle to meet their basic needs and demands.

The rich are people who have wealth. Wealth is the abundance of valuable resources or material possessions, including, money, funds, property, etc. The poor are the people who live in poverty. Poverty is the deprivation of food, shelter, money and clothing that occurs when people cannot satisfy their basic needs. Poverty can be understood simply as a lack of money, or more broadly in terms of barriers and difficulties in everyday life. Absolute poverty, destitution or extreme poverty is a state when there is a severe deprivation of basic human needs, including food, water, sanitation, clothing, shelter, health care, education and information.

Other than people, the terms can also be used to describe things, land, nation, region, resources, etc. An individual, community, region or country that possesses an abundance of such possessions or resources is known as wealthy. Or in case of lacking an abundance of such possessions or resources is known as poor.

Dictionary.com states the description of ‘rich’ as:

• Having wealth or great possessions; abundantly supplied with resources, means, or funds; wealthy: a rich man; a rich nation.
• Abounding in natural resources: a rich territory.
• Having wealth or valuable resources (usually followed by in): a country rich in traditions.
• Abounding (usually followed by in or with): a countryside rich in beauty; a design rich with colors.
• Of great value or worth; valuable: a rich harvest.
• (Of food) delectably and perhaps unhealthfully spicy, or sweet and abounding in butter or cream: rich gravy; a rich pastry.
• Costly, expensively elegant, or fine, as dress or jewels.
• Sumptuous; elaborately abundant: a rich feast.
• Using valuable materials or characterized by elaborate workmanship, as buildings or furniture.
• Abounding in desirable elements or qualities: a man rich in kindness.
• (Of wine) strong and finely flavored.
• (Of color) deep, strong, or vivid: rich purple.
• Full and mellow in tone: rich sounds; a rich voice.
• Strongly fragrant; pungent: a rich odor.
• Producing or yielding abundantly: a rich soil.
• Abundant, plentiful, or ample: a rich supply.

Dictionary.com described ‘poor’ as:

• Having little or no money, goods, or other means of support: a poor family living on welfare.
• Law. Dependent upon charity or public support.
• (Of a country, institution, etc.) Meagerly supplied or endowed with resources or funds.
• Characterized by or showing poverty.
• Deficient or lacking in something specified: a region poor in mineral deposits.
• Faulty or inferior, as in construction: poor workmanship.
• Deficient in desirable ingredients, qualities, or the like: poor soil.
• Excessively lean or emaciated, as cattle.
• Of an inferior, inadequate, or unsatisfactory kind: poor health.
• Lacking in skill, ability, or training: a poor cook.
• Deficient in moral excellence; cowardly, abject, or mean.
• Scanty, meager, or paltry in amount or number: a poor audience.
• Humble; modest: They shared their poor meal with a stranger.
• Unfortunate; hapless: The poor dog was limping.

Why do so few people have real wealth, even though everyone desires it? Certainly, there must be some fundamental differences between the rich and the poor that can account for the differing levels of success.

Rich people often seem capable of generating amazing things in things in their lives. And many with less money seem to be stuck. You wouldn’t be alone if you concluded that this is due to some difference in abilities or work ethic. But if you look closely at the rich people you know, you’ll likely find that most aren’t particularly lucky, intelligent, or hardworking.

Let’s examine some of the actual fundamental differences between the rich and the poor:

1) Rich people attempt to create a specific life for themselves; poor people believe they have no control. If you don’t believe you can create the life you desire, why would you even try? But if you can envision what you want, you stand a chance to get it.

2) Wealthy people dream much bigger. Tell your poor friends that you want to be a millionaire and see what they say. You’re likely to hear something like this, “No one needs that much money. You can live fine with a lot less than a million dollars.”

• Do you think that a person who says things like this is ever likely to be wealthy? People who are poor always tend to think small. People who are rich dream big.

3) The rich play to win, and the poor play not to lose. This is significant. The rich are quite bold and are always searching for a way to win when money is involved. The poor are too busy worrying about preserving what little they have. They never give themselves the chance to become wealthy.

4) Opportunities vs. obstacles. Those who are wealthy tend to focus on the opportunities and then simply deal with the obstacles as they arise along the way. The poor have a habit of focusing on all the obstacles.

5) Commitment counts. The rich do an excellent job at staying committed to achieving their goals. The poor are good at dedicating themselves to dreaming about their hopes instead of making goals out of them.

• Although you may have fun thinking about how great it would be to be rich, that’s not going to make your desires happen. Set a goal and then fully commit to it.

6) Peer group matters. We all tend to rise or fall to the level of our peer group. Have you ever noticed that the rich hang out with other rich people? Spend time with wealthy people if you want to succeed financially. You’ll be amazed at how your perspective changes when you hear people talking about how they made $2,000+ in a single day.

7) The rich constantly learn. You’ll find that wealthy people are usually learning new things, especially when in regard to making more money. The poor frequently have an attitude that they already know everything they need to know. Don’t stop learning.

- See more at: http://www.financeoutpost.com/7-key-differences-rich-poor/#sthash.Y5xVfhjz.dpuf

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Abdul Kalam

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