roooted explores what it means to be rich v. wealthy.

Nav.It with Roooted: Rich or Wealthy?

(Yes, that’s spelled correctly. )

17 September 2020

Since we’re committed to bringing you all the tools to make confident money moves, we’re bringing you a little financial love from our partners at roooted.

What does it mean to be rich? What does it mean to be wealthy? Why do I write about this topic every week? What is Gwen Stefani trying to tell us [with her song “If I was a Rich Girl]!??!

So, I did some research…
It became clear I’m not the first to ask these questions. Although– I may be the first to attempt to answer them through a Gwen Stefani lens. Let’s talk about it.

What is money, really? 
Jason Zweig, a legendary financial columnist, says it isn’t just a store of value. He believes money is a vessel for emotion and ego, hopes and fears, dreams and heartbreak, confidence and surprise, envy and regret.

For Sallie Krawcheck, Ellevest CEO and Wall Street veteran, money takes on another powerful meaning. To her, it’s “get-your-hand-off-my-leg money, it’s I’m-out-of-this-relationship-that-doesn’t-work-for-me money, and it’s I’m-starting-the-business-I-want-to money.” 

If Gwen was a Wealthy Girl… 
She probably wouldn’t be singing this song at all. The truth is, many rich people aren’t wealthy.

Morgan Housel, a financial writer, believes wealth is less about what others think about you and more about the ability to do what you want, when you want, with who you want, for as long as you want to.

Do you think there’s a difference between rich and wealthy? Is there a way you remind yourself of that difference? Let me know.

btw sorry, Gwen… ur song is still a bop 

💔

I saw this comment on a completely unrelated TikTok AFTER writing this. Had to show you that I may be psychic. Don’t txt 

❤

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