How Do You Define Wealth?
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It seems like a pretty easy question.
What is wealth?
But it’s not, really.
Everyone has a different idea of what wealth is. Some of these are geographic. A Manhattanite strutting down Fifth Avenue will give you a different answer than a subsistence farmer in sub-Saharan Africa.
It doesn’t even have to be that extreme. A guy in a small American town might give you a different definition than someone in a city.
You know, it may not even have anything to do with money. Good friends and family rank up there in the list that makes life worth living.
So, what is your definition of wealth? How will you know that you’re wealthy?
Here are some ideas, I gleaned from Automatic Wealth, a book by Michael Masterson, that may help you get started.
Wealth is:
- A million bucks in the bank
- Having everything you want
- Owning the best car on the block
- The power to make change
- The power to do what you want
- Having friends and family who love you
- A weekly paycheck.
- Enlightenment
- Inner peace
Now, here’s your chance. What is wealth for you? Is it any of these things? Do you have a different definition?
is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
I have a quote but I’m not sure who said it, but I like it anyway…. “The true measure of how wealthy you are is how much you would be worth if you lost all your money.”
Hi David–
How true is that! And would you trade those things for any amount of money? Hopefully not.
Wealth to me is having enough money coming in on a regular basis that you don’t have to worry about being a slave to the job world in order to make money.
I have to agree with you there, Chiko777.
Sometimes I hear about these CEOs and their 16-hour work days and their time spent away from the family. Unless they really love it, they’re no wealthier than the minimum-wager who at least has time for the things he or she loves.