The Difference Between Being 'Rich' and Being 'Wealthy'

Lots of people in America today are technically 'rich' just because they hit a certain income threshold... But they don't feel like they are. They have lots of bills and lots of debt... many are living paycheck to paycheck and saving nothing... and worst of all, they're often working 50 to 60 hours a week […] Not rendering correctly? View this e-mail as a web page [here](. [Empire Financial Daily] The Difference Between Being 'Rich' and Being 'Wealthy' By Whitney Tilson --------------------------------------------------------------- [Have you heard of 'SWaB'?]( More than 100 countries around the world are rolling out a system called "SWaB" that could have a bigger impact than the Internet in the days ahead. Here in the U.S., it's already being implemented in 38 states and counting. This year, massive investments are pouring into this innovation from some of the richest people in the world – like Elon Musk, Jeff Bezos, and Warren Buffett. Even the world's most powerful companies, like Apple, Microsoft, and Google, are spending billions to onboard it. That's because every single modern technology – 5G, artificial intelligence, blockchain technology, IoT, robotics, quantum computing, and EVs will have to switch over to SWaB to stay relevant. [Get the details here](. --------------------------------------------------------------- Lots of people in America today are technically 'rich' just because they hit a certain income threshold... But they don't feel like they are. They have lots of bills and lots of debt... many are living paycheck to paycheck and saving nothing... and worst of all, they're often working 50 to 60 hours a week just to do it. Maybe that sounds familiar to you. And it may seem crazy coming from a former hedge fund manager like me. But it's true: Making a lot of money alone doesn't lead to a wealthy life... one where you're able to live the way you choose... where you have the freedom to spend your time on things you enjoy or feel fulfilled by. That could be anything. And it doesn't have to involve living in a mansion, driving a Mercedes, or wearing a designer suit. Longtime readers know I didn't grow up with money... My parents were both teachers who left the comforts of America to serve in the Peace Corps in the Philippines in the early 1960s and later worked in underdeveloped countries like Tanzania, Nicaragua, and Ethiopia before retiring in Kenya. And today, even though I've done well financially, I'm still one of the most frugal people you'll ever meet. For instance, I'm sure I was the only guy from my Harvard Business School class to spend the night at a youth hostel instead of a fancy hotel at my 25-year reunion a few years ago. But I still feel wealthy beyond belief! And the only way I'll ever consider Empire Financial Research a true success is if you end up feeling the same way. Believe me, it's a great feeling. --------------------------------------------------------------- Recommended Link: [Make this simple (but mentally tough) move]( If you're like most people, you're probably financially "paralyzed." You don't know what to do. But legendary financial researcher Herb Greenberg has something to show you that could change your wealth dramatically. [Click here for his full analysis](. --------------------------------------------------------------- My financial success has allowed me to live the kind of life I've always wanted to live... I was the second employee launching Teach for America... I've served on the boards of more than a dozen nonprofits... I've taught introductory finance and entrepreneurship to high school and college students... In 2020, during the height of the pandemic, I spent multiple 12-hour days helping a nonprofit called Samaritan's Purse build a field hospital in Central Park to help care for those with COVID-19. I also get to travel all over the world with my family, showing my kids some of the most amazing places on Earth. Here's a photo of me in Kenya on a safari in the Masai Mara... One of me at the Great Wall of China... And here's me at the summit of Mt. Blanc, the highest mountain in the Alps... I still work really hard, but that's because I love it... Maybe you've totally had it with work. There's nothing wrong with that. Having a wealthy life means you're in a position where your time is truly your own. Yes, money plays a role, obviously. For better or worse, money equals freedom and freedom is what we're all striving for. Now that I've achieved "lifetime wealth," I want to show folks like you how to achieve it for themselves. I'm passionate about this. Plain and simple. Throughout my career, no matter which way the market was turned... one thing has remained constant... The best investments I've made – the ones that built my wealth to the level it is today – have all been fantastic values. Like when I bought Netflix (NFLX) and then pitched it on CNBC on October 1, 2012, the day it hit a multiyear low of $7.78 a share. Today, shares trade for around $280... a gain of more than 3,500%. I bought Apple (AAPL) in October 2000 at a split-adjusted $0.35 a share. Today, it's around $150, up roughly 43,100%. And I bought bookseller turned e-commerce giant Amazon (AMZN) in June 1999 at a split-adjusted $2.40. Today, it sits at around $100 a share, up nearly 4,000%. Now, I know what you're probably thinking... "That's great, Whitney, but those were once-in-a-lifetime trades. We'll never see those kinds of opportunities again." Not necessarily... Just in our flagship Empire Stock Investor newsletter, we're sitting on two doubles and two triples from our Transportation-as-a-Service ("TaaS") stocks... along with 10 other doubles in the rest of the portfolio – and we expect more upside ahead. But while giving you the chance to make money is my top priority, I also want to protect you from losing money, too... Because as much success as I've had finding fantastic investment opportunities in the market, I've also been able to spot the exact opposite. That's what's helped me keep the wealth I've accumulated. Over the years, I've accurately predicted the decline of nearly 100 different stocks, including multiple companies that ended up filing for bankruptcy, such as Lehman Brothers. In 2015, I discovered that flooring company Lumber Liquidators (LL) was selling poisonous formaldehyde-drenched Chinese-made laminate flooring. I took the story to 60 Minutes where I was featured in a story hosted by Anderson Cooper. The company was enveloped by scandal, the CEO resigned, and the stock, which I had shorted, fell by more than 90%. I've made similar warnings about new kinds of investments, too... like when I called the exact day that bitcoin peaked on December 16, 2017. A year to the day later, bitcoin prices were down 83%! And on September 19, 2018, during the frenzy in marijuana stocks, I appeared on Yahoo Finance where I called the exact hour that they would peak. I singled out Tilray (TLRY) in particular, which traded to an intraday high of $300 per share. Six months later, TLRY shares had collapsed by 90%. Today, they sit around $4, down 99% in just three years. Now I don't claim to have some kind of magic crystal ball... But the best way to access our research is by taking a "lifetime" approach – subscribing to Empire Stock Investor without paying another subscription fee again and being able to follow our ideas over the long term as the investment story adapts. That's just the situation we have right now with our TaaS ideas... We're about to hit a critical, watershed moment for this story that could be the most important financial event of the year. Due to the nature of this development, we've created an incredible offer to gain access to our TaaS research and Empire Stock Investor for the long term – get all the details [right here](. Regards, Whitney Tilson November 2, 2022 --------------------------------------------------------------- If someone forwarded you this e-mail and you would like to be added to the Empire Financial Daily e-mail list to receive e-mails like this every weekday, simply [sign up here](. © 2022 Empire Financial Research. All rights reserved. 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