Being Rich or having a lot of money? What is the true meaning? | Sawan Kumar
Quick Answer
Being rich is a balance sheet condition, not an income level. Track your Freedom Number — months of survival without income — and aim for 12+ as baseline, 60+ for true financial independence.
Key Takeaways
- 1Calculate your Freedom Number monthly — liquid assets divided by monthly expenses tells you how rich you actually are
- 2Automate 20% of gross income into investments before you see it — automation beats willpower 3x according to Fed data
- 3Buy assets that generate income (courses, rental property, SaaS reselling) — avoid liabilities disguised as status symbols
- 4Resist lifestyle creep — when income jumps, keep expenses flat for 12-18 months and bank the delta
- 5Use geography as a wealth multiplier — UAE's 0% personal income tax is a 25-40% lifetime wealth boost vs high-tax jurisdictions
⚡ Quick Answer
Being rich and having a lot of money are not the same thing. True wealth is measured by how long you can sustain your lifestyle without actively working — what Investopedia calls the difference between income and net worth. According to the UBS Global Wealth Report, 70% of high-income earners are not actually wealthy because their lifestyle expenses scale with their paychecks.
What do you mean by being rich or having a lot of money? Does being rich only mean earning a lot of money? Watch the full video where Sawan Kumar explains the answer to this question in detail.
Key Takeaways
- What do you mean by being rich or having a lot of money
- Does being rich only mean earning a lot of money
- Watch the full video where Sawan Kumar explains the answer to this question in detail
- If you liked this video, SUBSCRIBE
- Also don't forget to like the video and leave a comment
About This Video
What do you mean by being rich or having a lot of money? Does being rich only mean earning a lot of money? Watch the full video where Sawan Kumar explains the answer to this question in detail.
If you liked this video, SUBSCRIBE. Also don't forget to like the video and leave a comment.
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- Or go further with the AI Mastery Course — used by 79,000+ students across 150+ countries.
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Sawan's Take — From CA to Dubai Educator
As a Chartered Accountant, I've audited the books of people earning AED 1M+ per year who couldn't survive 60 days without their salary. I've also met Dubai shopkeepers with AED 30K monthly income who own three properties outright. Being rich isn't about the number on your payslip — it's about the gap between what you earn and what you keep. In my GoHighLevel and AI courses, I tell every student: track your freedom number — how many months you'd survive if income stopped today. That number is your real wealth.
The 6-Step Plan to Move From High-Income to Actually Rich
This isn't theory. This is the framework I built after auditing hundreds of P&Ls as a CA and coaching SMB owners across Dubai and India.
- Calculate your Freedom Number. Total liquid assets ÷ monthly expenses = how many months of survival without income. Target: 12+ months as a baseline, 60+ months for financial independence.
- Separate income from wealth on paper. Open a separate brokerage account. Every month, 20% of gross income moves there before you see it. Per Federal Reserve data, savers who automate beat manual savers by 3x.
- Buy assets, not liabilities. A car is a liability. A rental property in Dubai's JVC averaging 7-8% gross yield is an asset. A course you launch once and sell forever is an asset.
- Build one income stream that doesn't trade time for money. For me it was Udemy and books. For you it might be GoHighLevel SaaS reselling at AED 297/month per client.
- Audit lifestyle creep quarterly. When my income tripled, I kept the same apartment for 18 months. That delta became my wealth foundation.
- Make your money taxed once, not twice. UAE residents pay 0% personal income tax. Indian residents lose 30%+. Geography is a wealth multiplier.
Student Results — When the Framework Clicked
Rahul M., Real Estate Agent, Dubai: Started at AED 18,000/month commission income with zero savings. After 14 months of applying the Freedom Number method from my coaching, he had AED 220,000 invested and a second income from GHL reselling generating AED 9,500/month recurring.
"Sawan made me realise I was performing wealth — leasing a BMW, living in JLT, eating out 5 nights a week — while having less savings than my driver. The freedom number reframe changed my next 3 years."
| Wealth Tracking Tool | Best For | Price (Monthly) | Tracks Freedom Number |
|---|---|---|---|
| Empower (Personal Capital) | Net worth + investment fees | Free | Yes (manual setup) |
| YNAB | Zero-based budgeting | $14.99 (AED 55) | Partial |
| Monarch Money | Couples + multi-currency | $14.99 (AED 55) | Yes |
| Wio Personal (UAE) | UAE banking + savings spaces | Free | Partial (AED-native) |
| Sahl App | Sharia-compliant investing UAE | Free + 0.85% AUM | No (investment only) |
Source: Pricing verified from YNAB, Monarch Money, and Wio Bank as of May 2026.
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