Wealth is a lot of things…
It is much more than just money.
Wealth depends on who you are, what your interests are, and where you’re at in life. It is defined differently by every person, but ultimately, true wealth is freedom. It is the freedom to do what you wish, when you wish, with whomever you wish. It is the freedom that comes with not worrying. It is freedom from your enemies, and mostly from yourself.
Wealth is Freedom: Money freedom. Time freedom. Relationship freedom. Spiritual freedom. Physical freedom. Ultimate freedom = 5 freedoms + ability to pursue your genius. – Mark Hansen/Robert Allen, The One Minute Millionaire
Growing up, I always thought of wealth as being “rich”, and having the fancy car and the huge house. Don’t get me wrong; I am still highly motivated by money itself… But what I’ve realized, is that ‘wealth’ is altogether something different.
Wealth involves a bunch of things, including: money, happiness, time, health, attitude, relationships, lifestyle, peace of mind, and any other thing you desire for what you view as a successful life.
In order to be truly wealthy, you have to be happy and content in all key aspects of your life. As the Buddhists say, contentment is the greatest wealth.
He is the richest who is content with the least, for content is the wealth of nature. – Socrates
Of course there are challenges to overcome everyday, but the wealthy do not worry about these obstacles because they have the ability and the resources to overcome them.
Wealth, although often misrepresented in our world today, is defined well by the following people:
Wealth is a number of days forward that you can survive without working. Wealth is measured in time, not dollars. – Robert Kiyosaki
Being rich is having money; being wealthy is having time. – Margaret Bonnano
Wealth is not his that has it, but his that enjoys it. – Benjamin Franklin
Passive income > expenses. – David Wood
Wealth is the ability to experience life. – Henry David Thoreau
As you can see, wealth involves so many things. It is not a simple answer, and it changes.
James Berman puts it in perspective when he says, “Beyond money for basic needs, wealth remains more a psychological construct than a factor of dollars and cents. And a comparative one at that.”
Remember, our goal each and every day is survival. Wealth is being able to do this well, and for a long period of time.
With all of that said, money is still a very important part to my personal view of wealth. As a result, it is a big focus for me and for what we do on YoPro Wealth. But, it is only a part of the solution, and this is an important thing to discover early in life.
Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver. – Ayn Rand, Atlas Shrugged
Now, this is only the beginning of the discussion on the definition of wealth. We are all very fortunate, and you are extremely wealthy in so many ways already. However, there is always another level of wealth to get to, and YoPro Wealth is here to help you do just that.
I’ll end with another of my favorite definitions of wealth, from my friend Mike Kawula:
Wealth is just an abundance of what you really want.
Go out and get what you want.
Path Forward:
- Think about what is important to you, and what your key aspects of wealth really are (financial, health, spiritual, etc.).
- How do you fare for each of these areas of wealth? Take inventory of your level of wealth, and identify the areas to improve.
- Sign up and get free updates on how to build lasting wealth! (And you get Expert Financial Advice for the Young Professional free!)
- Leave your definition of wealth in the comments section below!
It’s tough to figure out how to get to true wealth. Creating a lifestyle that fits you well takes time. But when you achieve true wealth you will live an abundant life while maintaining a nice runaway to continue to grow.
I think of “wealth” much like I think of “success”… Success is the progressive realization of a worthy ideal. So then is wealth – it is a journey, and the joy is in this journey.
Creating a lifestyle that you want definitely takes time, but so many never ever come close to achieving this lifestyle. The ones that do are the ones that put the work in early, so that is what YoPro is trying to help people do.
Thanks for the comment, Alex!
Austin, I couldn’t agree more. Thank you for this post – it’s a powerful one! Wealth is about so much more than just money. I think one of my favorite quotes that I’ve seen around on this subject is from Erich Fromm, who says “Not he who has much is rich, but he who gives much.” I can’t say exactly what Fromm was thinking when he said this, but when I read it, I think about the idea that one component of true wealth comes by way of knowledge and skill, and your ability to share that with others in a meaningful way.
Great quote, Kate. Thanks for sharing!
I think a lot of people go through a progression of wealth, and once achieved, the truly wealthy give back in more ways than one. Sharing and giving is so important to the wealth equation. I wish I had known this a long time ago! They don’t teach this stuff in school.
Thanks again.
I love all the quotes here. Wealth is definitely more than money, but I have to say how much easier freedom is to obtain by having money! I love the quote about time too. Having more time to do what you want, instead of what someone else wants, is one definition of wealth for me. Great article!
Yes, Paul! True freedom isn’t attained until is in all aspects – financial, physical, spiritual, relationships, etc.
Great definition – more time!! Someone that has the time to do what they want, now that is wealth!
Another great post here Austin! I’ve actually been thinking about this topic a lot lately. Financial wealth is great but unless you are able to live in the moment and be happy with what you have then it really doesn’t provide an abundant life! Keep em coming!
Thanks, Justin! That is so spot on. Unfortunately, most people have to go through the progression of achieving financial wealth and figuring out that it isn’t the answer to all of the problems. So, that is what YoPro is all about – opening the eyes of people to understand this as early in the process as possible. Money is super important (in my opinion), but like with most things, it is all about balance. Wealth is a balance of a number of things.
Very thought provoking post Austin! What good is material wealth if you don’t really have wealth in other aspects of your life? Thanks you for the post! Looking forward to more.
Exactly, thanks Celest!
This is a great post Justin. Wealth created through the positive mental attitude, education, labor, knowledge and know-how. Thanks for sharing!
Oops sorry Austin, accidentally fat-fingered. Wish these comment blocks could allow you to edit. Great post man… You’re awesome!
No prob, man. Thanks!
Love the quotes. My maternal grandmother always said that she was rich because she had thirteen grandchildren. Her family was what she valued, so what she saw as her wealth. Your post has made me think about what wealth is. Thanks for the thought provoking article.
That is such a great quote! Wow.
Find your wealth and create it!
There is a lot to look forward to on YoPro Wealth; thank you for providing such keen insight Austin. Freedom and abundance of the freedoms one enjoys persist as themes throughout. I greatly appreciate your highlighting the prism of wealth and look forward to so much more ahead! Mike Kawula’s quote really hits home for me too.
It’s never too late to start thinking about wealth and how you can pull all of the things together in your life to be “wealthy.” At 31, I’m just now figuring it out and putting myself in the best position to be happy and wealthy in all aspects of life. Thanks for the post and keep up the good stuff.
What an incredible post @Austin_YoPro:disqus!
Love how you talk about wealth being defined by each of us as an individual and that it includes just more than just monetary definition or the things that one can acquire in a lifetime. Great perspective my friend!
Thanks, @KyleJMusser:disqus. I appreciate it!!
Anytime!