DIFFERENCE BETWEEN WEALTH, MONEY AND STATUS (reference - naval podcast)
Wealth is the thing that everyone really want, wealth is assets that you earn while you sleep, even a house can be the form of wealth, wealth is business or assets that you earn while you sleep means the satisfaction or state of being contented. The reason you want money and wealth is that it buys freedom and from freedom, you will get happiness. The purpose of wealth is freedom its nothing more than that, wealth is not the thing that you buy expensive clothes, driving Ferrari, diving into the gulf, the world tours this stuff moves very fast and maybe boring after some time, you have to remember that you are your own solid individual, you will not get that unless you really want that, entire worlds want it and the entire world working hard for it at some extent it is positive. Wealth may be in the form of anything that you own in a huge amount(abundance of valuable assets).
Money is the form that how we transfer wealth, money is the social credits it is the ability to have credits and debits of other people's time and work. If I can create value for society, society says 'Thank you!', you owe something in the future for the thing that you did in the past here's the little IOU let's called it money. Money in the bank can be re-invested into various assets and into other businesses. Money is the medium of exchange, it is an economical unit for transitional purposes, an object that is accepted as payments and repayments for goods and services.
Fundamentally there are two huge games that people play in life, one is the money game because "Money is not going to solve your whole problems but it gonna solve your all money problems", but at the same time some of the people deep down know that they cant make it so they make a virtue signal that making money is evil, you shouldn't do it that but they are actually playing the other game which is the status game they are trying to build higher status in the eyes of other people watching them while saying I don't want money. Status is just your ranking in your society. Wealth is not zero-sum game everybody in the world can have a house because you have a house it not take away my ability to have a house. Status, on the other hand, the zero-sum game, its a very old game playing since monkey tribes just showing ranking that whose on the 1st position and whose on the 2nd, there is a race between them to chase each other, Even sport is an example of status game to be a winner there must be a loser.
The problem with all of this is on evolutionary bases, If you go back thousands of years back status is a much better way for survival than wealth is, you couldn't have the wealth before the farming age because hunters-gatherers put everything on their backs so hunters-gatherers totally lives in the status base society. while farmers live in a wealth-based society. Nowadays modern investor economies are much more wealth-based society, but there is always saddle competition between wealth and status. In a status game, you have to put somebody else down that's why you should avoid a status game in your life.
