What is Wealth ?

Wealth must have the ability to fulfil needs and provide utility, thus making them desirable. Wealth, like every other resource, is characterised by scarcity- they are not free goods provided by nature like air and sunlight. Wealth in any form must be transferable, i.e. its ownership can be changed. Wealth must be definable in money value terms and thus must be quantifiable and measurable. 

Wealth creation is the process of investing in various asset types to meet critical future demands. Individuals can generate wealth in a variety of ways. Entities can generate alternate streams of income by investing in good assets.

A nations gold reserves at a point in time are its wealth, while its national healthcare expenditure is a flow variable measured quarterly or annually or over a period of time.  

Personal wealth is the overall worth of a person's assets and belongings, in the form of savings, investments, cash or real estate, minus the debt. It is frequently computed to get a sense of a person's financial well-being, to assist with financial management, or to assess the size of an inheritance.





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