Wealth vs. Richness

Housel distinguishes between being wealthy and being rich. Wealth is the money you don't spend, while richness is displayed through high-income lifestyles and expensive possessions. He uses Rihanna's near-bankruptcy due to overspending to illustrate that True wealth lies in financial options and flexibility. 'Wealth is financial assets that haven’t yet been converted into the stuff you see,' he explains, emphasizing the importance of savings and financial prudence.