In today's society, we're all conditioned to think of being wealthy & being rich as the same thing. Society defines being rich as having a lot of money. Yet, there are many people who have a lot of money, but are completely miserable people. Sometimes they have to put in 20+ hours/day to sustain their current standard of living. Or their kids, spouses resent them because they're never around. So society's definition of being rich is measured in financial assets - dollars, stocks, businesses, real estate, net worth, & so on.
However, being rich is only one component of being wealthy. Wealth is composed of not only financial capital, but also emotional, spiritual, social, & intellectual capital. In my previous post on your greatest assets, wealth is defined as the number of days you could sustain your lifestyle without working. So, in other words, having a lot of time is a measure of wealth. And along with time comes freedom, independence, and mobility. Being happy, healthy, having a lot of positive relationships, great ideas, a lot of leverage, are all forms of wealth. A way to true financial wealth is through sources that provide passive income. A great book that explains this concept is the "4 Hour Work Week", by Tim Ferriss. Great book, one that changed my reality on what it really means to be wealthy.
So in the Information Age today, being wealthy means:
1. Your health
2. Your time, freedom, independence, & mobility
3. Your happiness
4. Your mind
5. Your ideas
6. Your friends
7. Your integrity
8. Access to various forms of capital (social, financial, intellectual, emotional, spiritual)
9. Various social, business, professional, academic, athletic skills applied to the appropriate settings.
That's it. Stay tuned!
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