The purpose of wealth is freedom.

You can get more of most everything but time.

That’s why truly being wealthy is having ownership, freedom, over your time.

So if the purpose of wealth is freedom, I believe becoming wealthy is when you have enough passive income to support your life mission, which is how I want to spend my time.

After defining wealth for yourself, there are two things to do: 1) Identify businesses and assets that can earn while you sleep. And have money in the bank that is being reinvested into other assets or other businesses 2) put a dollar amount on your time and don’t do things that you don’t value unless you’re getting paid your hourly rate.

For a great resource on wealth check out Naval Ravikant’s podcast on “How To Get Rich.”