The more money you have, the richer you will get. The more expensive things you own, the wealthier you are. If these statements are true, why is it that there are still people who have millions or billions of money and yet they end up poor? Why is it that despite the luxurious possessions, they are still experiencing financial difficulties? Most people can easily recognize what a rich man looks like– he or she wears fancy clothes and accessories, drives a luxury car, have the latest gadgets and gizmos. But believe it or not, most of them are not truly rich.

Here are 5 characteristics a truly wealthy man has:

1) Financial stability. This includes having a stable job or business that gives cash flow for your everyday needs. A real rich man must not rely on the wealth he or she inherited from his or her parents.

2) Financial security. It is not enough that you have a stable job. You need to have a ready source of money if need arises. To become a truly rich man, you need to have savings. You also need to put up an emergency fund for you and your family when you suddenly unable to support their necessities like the case of disability, accident or even death.

3) Financial literacy. It is not enough that you have money in the bank. You also need to know how to use your money wisely and make it grow or multiply. This is what financial literacy provides. A truly rich man invests in knowing how to make his money work for him and not just work for the money. He or she invests not only in businesses but also expanding his horizon to properly manage his finances like reading books about wealth building and attending seminars on money management just to name a few.

4) Goal-oriented. Most people who have lots of money don’t end up rich because they just spend it without any purpose. Some of them keep on buying expensive things just to show off that they can afford it. A truly rich man knows how to plan for his future. He anticipates what might happen today that will have a great impact tomorrow. Truly rich man’s goal is to have a life that is worry-free, ready anytime and can avail everything life has to offer him in his lifetime without relying on anyone but himself.

5) Generosity. As the saying goes, “the more you give, the more you receive”. Truly rich people should not forget this. An act of generosity is an act of kindness and goodwill to humanity. A truly rich man is not selfish. He or she shares the abundance that he or she has. This is not only limited in giving donations to different charitable institutions but also by sharing the knowledge he learned and educate others on how to become like them. These actions will remind them of their roots and where they came from.

Conclusion:

A truly rich man is not defined by what he or she looks, wears and owns. It is not just in the amount of money he or she has. A real wealthy man is one that is financially stable, financially secure and literate, has goals and knows how to share what he or she has to others. With these qualities you will be able to meet a true financial freedom for the rest of your life.