on March 5, 2024
The old saying, “Money can’t buy happiness” is much too simplified and not necessarily true. Money is an essential component of stability, and stability does help to create happiness by alleviating stress, ensuring a person’s basic needs are met, and providing the ability to afford a little fun (vacations, a nice dinner, a day on the golf course, etc.). But this saying does contain a kernel of truth: Money is only part of the equation.
In my experience, the happiest people I know are not necessarily wealthy in the traditional sense. In addition to financial stability, they also have found purpose in their lives, and they are optimistic enough to hope for a better future (for themselves and others).
These three factors—Security, Purpose, and Hope—are the three pillars that comprise Self-Wealth, a concept I coined and which I discuss in detail in my book Self-Wealth: A simple, conscious path to a comfortable financial future. Self-Wealth goes beyond money and material possessions. It is not only about your net worth or how much you’ve socked away in your 401K (although these things are important in their own ways!).
Rather, Self-Wealth encompasses a broader perspective on what it means to be rich. It is about finding fulfillment by nurturing relationships, pursuing passions, and making a positive impact on the world. It involves recognizing and appreciating the non-material aspects of life, such as love, kindness, and personal growth. By prioritizing these intangible assets, individuals can achieve a deeper sense of contentment and satisfaction. Ultimately, true wealth is not measured solely by the size of one’s bank account, but by the richness of their experiences and the joy they bring to themselves and others.
This month, I challenge you to start viewing wealth in a more holistic way. Try asking yourself a few questions to get a sense of what really matters to you (your Purpose and your Hope):
-Who means the most to me in life? What role do these friends and family members play?
-What is my “why” or my purpose? How am I attempting to live out this purpose? (If I’m not focusing on my purpose, what could I change to start doing so?)
-What are my hopes and aspirations for the future? How can I work towards them?
-If I am fortunate enough to have extra material or financial wealth, how can I give back?
-What steps can I take to cultivate meaningful relationships and prioritize the non-material aspects of life?
Remember, true wealth is not solely defined by monetary possessions, but by the richness of experiences and the impact we make on others. By focusing on Self-Wealth, we can lead more fulfilling lives and contribute to a better world. Take some time for self-reflection and explore what truly brings you joy and fulfillment. By embracing a holistic view of wealth, you can cultivate a richer existence and create a positive impact in your own life and the lives of those around you.