Wealthy people did not become wealthy by just their salaries or stacking up their income. You would ask, how then do you get wealthy? Isn’t been wealthy almost equivalent to having a lot of money? Yes and no. Yes because you will be worth a lot of money if you were rich; no because money does not appreciate or multiply when it remains as money. Here’s the thing, huge earnings can make you rich but that doesn’t mean it will. Cars can transport you but it doesn’t mean it will. To get to your destination, the car has to be driven. So yes, money is needed for you to be wealthy as a car is constant in transportation. However, the driving of the car is the proper usage of the money to achieve your goal; wealth. An inexperienced, bad driver will crash the car just the same way a person who is bad with money management will end up being poor.
Being conscious of money; making, spending and growing, will definitely make you wealthy. Earning huge is good; as a matter of fact it is very good for the process of being wealthy. Becoming a wealthy person is not a short term goal, it is a lifelong goal. This is why they say, the wealthy are never satisfied. Yes, they are not, because the only way to stay wealthy is to get more wealth. Or else, all the wealth will be spent with time. Earning huge is only a sign that you have started the journey, but not all who start a race wins, some do not even end it. You can earn millions monthly and be broke before the month ends. This is because the only assured way of losing your money is to spend it!
To invest your money in something that will continue to yield returns is a better way to manage money than to keep it in an account where you can stare at the same figure every night before you go to bed. Only one thing is sure, it will reduce. It loses value when you keep it in the bank and one day, you will withdraw to spend it. NET WORTH measures wealth, not income or salary.
Luxury is not necessary; it is just show off and nothing more. You can lead a quiet and convenient life without an island and a Yatch. They’re not bad ideas, when you can conveniently afford them and still make more money regardless, but it will be a very bad idea to buy a Yatch will all you have and go broke. This is going to be more destructive if you actually do not have any active investments. You will be doomed to file for bankruptcy, you will then sell the Yatch at a ridiculous price, and start living a lie to keep up with the standard of life you led or live in shame for the rest of your life.