Ep 18 | Rich vs Wealthy

Let’s be honest—no one really wants to say they want to be rich. It feels cringe. Out of touch. Kind of… gross. But wealthy? That hits different. In this episode of The F. Word, Priya Malani breaks down the real difference between being rich and being wealthy—and why high-earning 30-somethings are done chasing flashy status and instead want freedom, clarity, and control. If you’re making good money but still feel like you’re just getting by, this episode will help you see what’s really missing (and it’s not another raise).

Tune Into This Episode to Hear:

• Why “rich” feels fleeting—and “wealthy” feels freeing

• What it really means to be a HENRY (High Earner, Not Rich Yet)

• How to shift from paycheck-to-paycheck to long-term financial power

• The one mindset shift that turns earning money into feeling secure

Follow Priya Malani:

LinkedIn | Instagram | Youtube | Stash Wealth

THE STUFF OUR LAWYERS WANT US TO SAY: Stash Wealth is a Registered Investment Advisor. Content presented is for informational and educational purposes only and is not intended to make an offer or solicitation for any specific securities product, service, or strategy. Consult with a qualified investment adviser (that's us) before implementing any strategy. Investing involves risk, including the loss of principal. Past performance does not guarantee future results. There…we said it.

Transcription

No one wants to say they wanna be rich. That's such a douchey thing to say.

I think when people hear the word "rich," they associate it with kind of an old, greedy white dude. The word "rich"—not super attractive unless you're George Clooney.

Because we don't talk about money enough, people don't think too hard about the concept of "rich" versus "wealthy." It all just gets lumped into the same, and money is taboo. Nobody really wants to be associated with wanting more of it. It feels greedy, and yet it's liberating. It's true power. It's a true voice.

There's a big difference between the terms "wealthy" and "rich." Wealthy is supposed to be freedom—work optional, summering in Europe. Wealthy means giving back to causes you care about, doing good in the world because you have extra. Wealthy gets you an extra bedroom in your house so friends can crash. You can send your friends' kids to summer camp because you can.

Wealthy means picking up the tab when friends come in from out of town. Being generous with your money and with your time. Giving to organizations that can actually affect change. There's a sense of security that comes with being wealthy. You've made some really smart decisions to set yourself up for true financial freedom.

I don't think people are aspiring to be rich because being rich feels like it doesn't last. We're all working really, really hard and we want it to last. The term "rich" kind of feels like it could come and go.

A lot of us fall into the HENRY category when we are early on. We're making solid incomes—six figures—but haven't had the time to accumulate real wealth.

HENRY stands for High Earner, Not Rich Yet.

If you are, for example, making $150,000 but you have a $3,500 rent 'cause you live in Boston and you are basically living paycheck to paycheck... If you're making $200,000 a year and living your best life, but in the back of your mind, you're thinking about your $80,000 in student debt... If you and your partner are well into a six-figure household and you're hustling because it never seems to be enough money at the end of the month... If you're a creative director working for a zsi zsi brand, and a Friday night for you looks like going to the bars, dropping $200 on dinner and not thinking twice...

So the primary difference between rich and wealthy is that rich doesn't last. It's in the moment. It's today. It's the flashy car. It's the fancy dinners out. It's spending everything you're earning.

Wealthy is less about what you make now and more about what you're able to grow for the future. Being wealthy means you're more thoughtful about your money and your money decisions, and you have a plan in place that ensures that you can accomplish all the things you want today, but also in the future—including a fancy retirement on the beach. With margaritas. Lots and lots of margaritas.

Let's say you work in programmatic ad sales and all of your expenses practically go on the company. And you summer in the Hamptons. You're a HENRY.

I'll tell you this: by most Wall Street standards, we're not rich. But we're on our way. And because of our high earning potential—both today and in the future as our incomes go up—we will be.

Nobody wants to say it out loud, right? Nobody wants to say, "I wanna be wealthy." But you want the things that wealth brings. So how are you gonna achieve that if you just don't wanna talk about it and keep your fingers crossed without a plan?

When it comes to your finances or getting help with your finances, no one really seeks out a financial advisor because they want to be wealthy. Yet our job—my job—as a financial advisor is to help you grow your wealth.

So what does that actually mean? What am I helping you do? "Grow your wealth?"

The goal of a wealth manager is to help you use your wealth in the ways that you care about. To do the things you want to do. To experience the things you want to experience. And to leave a legacy, if you so choose.

Wealthy is knowing you have a plan in place. The job is to help you feel wealthy.

There's a reason we're not called "rich managers." We're called "wealth managers."

You have to put a plan in place. You have to talk about it. You have to think about it. And you actually have to work towards that plan. Half the job is just keeping you accountable to the things you say you care about.

People fear that they'll be told "no." Like, "No, you can't. You won't be able to do that." But how will you ever know? How will you ever know if you don't try?

And when you're young and you're just starting to make good money, wealth is totally possible.

One of my favorite quotes is that: Planning—financial planning—eliminates the need to keep your fingers crossed.

So if you think of yourself as a HENRY—a high earner, not rich yet—if you're a HENRY, I get it. You don't wanna be rich. You wanna be wealthy, even though you won't say you do.

Do you wanna be a HENRY or a HENWY?

High Earner, Not Wealthy Yet?

If this episode made you realize you're more of a HENRY than you thought, or that your six-figure salary still isn't making you feel secure, send it to a friend who's in the same boat.

And please don't forget to follow The F. Word.

Alright, see you next time.