How To Build Wealth The Right Way
When I invested in my first stock at 14, wealth to me was making as much money as I possibly could. Since then, and being in the finance industry for two decades, the most important thing I have learned about wealth is that no amount of money will ever make you feel wealthy.
There is a big difference among being financially secure (having your basic expenses covered), financially independent (living off of your investments and not having to work) and financial freedom (being able to do everything you want).
I learned that wealth has little to do with an actual dollar amount. It has everything to do with our mindset and money mentality. What do I mean? I know millionaires who have more than enough money but are unhappy and rarely experience true wealth. I know others who aren’t financially independent but are some of the happiest people I know. In many respects, the people with less money are wealthier. How is that possible?
Experiencing wealth is coming from a place of abundance, to be truly alive and content. The secret to true wealth is gratitude. It is where you are no longer worried about anything else except enjoying life to its fullest and sharing what you have with others. When you redefine wealth in this manner, you realize that you are as wealthy as you make yourself out to be, regardless of how much money is in your bank account.
Wealth is more than just a number or the investments you have. It is about finding the different types of wealth in what I call your “Inner Stable Table” and “Outer Stable Table.” People who experience true wealth have the SMART view and balance on:
Inner Stable Table
* Spiritual: Do you have true meaning and purpose in your life?
* Emotional: Are you emotionally satisfied and living a life of passion?
* Mental: Are you mentally stimulated and feel you are making a difference?
* Physical: Do you have the optimal level of health, energy, and wellness?
Outer Stable Table
* Professional: Are you fulfilled in your job and enjoy what you are doing?
* Social/Relationships: Do you have strong bonds and love with family, friends and associates?
* Environmental: Are you living in a place where you are happy, peaceful and have the time to do what you want? * Financial: Lastly, do you have financial peace of mind and live to work, not work to live?
Once we understand that true wealth is defined by our “stable tables,” we are no longer trying to get beyond scarcity, we are already starting beyond it! Review the types of wealth above and list all the things you can be grateful for. By associating all the things you have gratitude for, you put yourself in a different emotional and psychological state (the SMART Mindset!).
From this state you can discover your true personal sense of wealth and abundance. This is important because you are not relying on anyone else to define wealth for you. Instead of focusing on what you don’t have or what you can’t control, focus on what you do have and what you can control. We will find that many of us have the types of wealth above that we take for granted. What are the things you are grateful for today?
Visit artofsmartmoney.com for more ways to be wealthy.