Defining wealth comes down to you…and you alone. The foundational question about MONEY is one that No One can ever agree on: How much is enough?
In our increasingly competitive world, some believe that money is the way we measure competence, success, even our worth as individuals. It is not just wrongheaded. Since in a real sense, that we should think about sharing and giving. It’s Offensive.
Yes, we want and need things. It takes money to get them. And the average household spends everything they make shouldering enormous stress as they live paycheck to paycheck.
It’s easy for those of us with money – even if we were born into modest circumstances – to forget what a struggle life can be without it.
Money can do great things and promote important causes. But it can also dissolve business partnerships, cause friction between family and friends, and end marriages. While it is no longer rare that anyone can make money, most decide who is “rich” with a particular number: 1 Million…or 5 Million…or 30 Million.
So, let’s get real. Wealth is not what you make. It’s what you own: real estate, stocks, cash, bonds, gold and other financial assets.
How much you “Need” of course, is tied to where you live, the size of your family, your monthly expenses, and your desire to travel or enjoy the finer things in life. “The Finer Things” are hardly necessities since many grew up without them and including me, could comfortably live without them.
My belief is you’re wealthy if you have resources to live the way you want to live.
Reality check: When it comes to how much is enough, only your own definition matters!