Do You Want to Get Rich or Build Wealth?
- Matthew Harris
- 1 day ago
- 4 min read
At first glance, these two ideas—getting rich and building wealth—might seem synonymous. After all, don’t both imply having a lot of money? However, as any seasoned financial advisor will tell you, there is a critical distinction not only in the definitions of these terms but, more importantly, in the mindset they represent.
Understanding Wealth vs. Riches
Let’s begin by defining wealth. According to Britannica, wealth encompasses the total value of an individual’s property, possessions, and financial holdings. A more precise financial definition, however, subtracts liabilities—what you owe—from your assets to determine your net worth. That’s the truest measure of wealth.
Contrast that with the more casual definition of being “rich,” which often focuses simply on high income or large sums of liquid cash. Culturally, the image of a rich person is often associated with lavish lifestyles, big spending, and high-profile purchases. But high income does not automatically translate to lasting wealth—especially if it’s coupled with poor financial habits.
Tangible Assets vs. Liquid Wealth
Wealth is typically characterized by tangible and appreciating assets: real estate, business interests, precious metals, and investment portfolios. Those who focus on building wealth generally prioritize asset accumulation, diversification, and long-term value.
Conversely, a “get-rich” mindset often prioritizes liquidity and immediacy—cash in the bank, flashy purchases, and sudden windfalls. The issue? This approach leaves little margin for error and can quickly evaporate under financial pressure.
As Proverbs 13:11 wisely states, “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” The pursuit of lasting financial security requires discipline, not shortcuts.
A Strategy for Building Wealth
A foundational strategy for long-term wealth is to invest early and consistently. For instance, purchasing a home early in adulthood often becomes the first major asset in a person’s portfolio. From there, modest but consistent surplus income—perhaps a few thousand dollars here and there—can be used to invest in:
Diversified stock or mutual fund portfolios
Real estate
Small business ventures
By your 30s or 40s, many individuals can begin branching out—acquiring rental properties, launching a side business, or increasing their exposure to alternative asset classes. Simultaneously, retirement savings through 401(k)s, IRAs, and brokerage accounts should be steadily built and maintained.
A diversified portfolio not only enhances your potential for growth but also provides protection during economic downturns. For example, if a market correction occurs six months before retirement and you're overexposed to stocks without sufficient cash reserves, you could be forced to sell at a loss. However, if your portfolio includes real estate income, commodities, or other alternative income streams, you’ve built a buffer against such volatility.
The Cost of a “Get-Rich” Mindset
A fixation on quick wealth often leads to financial instability. Studies show that 70% of lottery winners are broke within three to five years. Similarly, professional athletes and entertainers who experience overnight success often find themselves struggling financially within a few years of retiring.
Why? Because sudden riches without financial literacy, discipline, and long-term planning are unsustainable.
By contrast, those who build wealth slowly develop essential character traits along the way—patience, discipline, humility, and self-control—traits highlighted in Galatians 5:22-23 and respected by individuals of all backgrounds and beliefs.
The Silent Millionaire
The most financially secure individuals rarely flaunt their success. As illustrated in The Millionaire Next Door, they live below their means, invest wisely, and avoid impulsive financial decisions. Meanwhile, individuals chasing the appearance of wealth often prioritize image over substance.
Life Lessons in Discipline
This principle isn’t limited to finance. Consider weight loss or physical fitness—quick fixes often lead to temporary results. True transformation happens through consistent, disciplined effort over time. The same applies to financial well-being.
Whether it’s someone using steroids to gain muscle fast or crash dieting to shed pounds, these shortcuts are unsustainable and often harmful. Similarly, high-risk “hot” investments—unverified stock tips, unresearched real estate, or speculative collectibles—can lead to disappointment and loss. Discipline wins in the long run.
Have a Plan, Not a Fantasy
The get-rich mindset often lacks strategy. It’s reactive, emotionally driven, and rooted in impulse: “Spend now, think later.”
In contrast, the wealth-building mindset is proactive. As Luke 14:28 advises: “For which of you, wanting to build a tower, doesn’t first sit down and calculate the cost to see if he has enough to complete it?”
This mindset involves:
Doing the research
Educating yourself
Seeking counsel
Counting the cost
Taking measured action
Many people get stuck in “analysis paralysis,” saying things like “I almost invested in that property” or “I considered buying that stock.” Often, fear of failure holds them back. But the Bible reminds us not to fear or worry—365 times in fact. Eventually, you must act in faith and take calculated risks if you hope to grow your wealth.
Final Thoughts: Gratification Deferred, Wisdom Gained
One key differentiator between getting rich and building wealth is delayed gratification. We’re not discouraging dreams of a vacation home or a classic car. Dream boldly—but pursue those dreams in the right time and in the right order.
With time and maturity, many people realize that the impulses they once felt so strongly fade with perspective. Waiting often brings clarity—and better decisions.
It’s also crucial to distinguish between legitimate wealth-building opportunities and reckless gambles disguised as “investments.” Not all investments are created equal. A friend’s “can’t-miss” penny stock tip, a sight-unseen real estate flip, or a trendy collectible with no history of
value are often more risk than reward.
Mistakes will happen. Even the most successful investors stumble. But what sets wealth builders apart is that they learn, adjust, and continue moving forward with discipline and purpose.
Let’s Build Together
At Whitaker-Myers Wealth Managers, we’re committed to helping you take the long view—recognizing the dangers of a get-rich-quick mentality and guiding you toward sustainable, lasting financial success.
You don’t need to chase riches. You can build wealth—steadily, intentionally, and with wisdom. And our team of financial advisors would be honored to partner with you on that journey.
