Wealth is defined as an abundance of valuable material possessions or resources, which can be further divided into two categories: tangible and intangible assets.

Tangible assets are things you can touch or see - money, your house, or land. If you use these to estimate your wealth, you’ll also want to calculate your net worth—the value of what you own minus your liabilities.

Intangible assets, on the other hand, are those that are not physical by nature, meaning they have no shape or form. If you own a business, these can include your company name, logo, licenses, brands, goodwill or any intellectual property.

While intangible assets don’t physically exist, they still have monetary value because they represent potential revenue. Commonly owned by businesses, intangible assets can play a critical role in the long-term success or failure of their owner.

More often than not, however, being wealthy is more about not stressing yourself and less about assets, tangible or intangible. It’s about having enough to do whatever makes you happy.

Saving for retirement in your 30scan be touch and go. You may enjoy a steady career and income, but there’s a chance you have yet to reach your earning peak. You could also be taking on major responsibilities such as a house mortgage or starting a family.

Your 40s is a great time to start. You have more life and career experience than you did 10 years ago. You also have more than 20 years to earn compound returns and put your retirement savings to good use.