The word wealth and happiness have one unique thing in common; both words mean something different to various people. To some, wealth and happiness are one in the same, to others they are not mutually exclusive. In respect to our conversation about wealth today, we regard the two terms as two separate things, that have different impacts, definitions and appeal to different people.
So, what is wealth? According to the modern dictionary wealth is the abundance of valuable financial assets or physical possessions. This suggests that wealth is mostly material. But to us, though the definition of being wealthy is entirely up to each person, our understanding of wealth encompasses the physical and metaphysical. The tangible and intangibles of life. For instance, health, fitness, quality time, memories etc. To some people, wealth will always mean money, but we believe life is larger than the amount one has in their bank account or the assets they hold. Of course, we encourage investments and savings. The impact of the latter means much more to us than the object itself. (Related: Do You Need to Be Smart & Intelligent to Make Money?)
“To some people, wealth will always mean money, but we believe life is larger than the amount one has in their bank account or the assets they hold.”
Even if we perceive wealth in terms of money spent and accumulated, it’s not that straightforward because there is a difference between wealth, riches and perceived wealth. There is a difference between net and gross. Perceived wealth, actual net worth and life abundance are totally separate items. For some people, life’s little luxuries (the honor of having privilege) is all the wealth in the world. Being able to have Netflix, Spotify, Amazon Prime, clean water to drink, fast food, etc. All the things that the developed world would traditionally consider “first world problems”. Indeed, life’s little luxuries are a source of enjoyment, but they are not a need. In our “wealthy” countries, such things as access to healthcare, infrastructure etc., all those things are wealth. In fact, just waking up in the morning is wealth. What does wealth mean to you? (Related: Young Adults Should Invest Into Things That Provide Long Term Happiness)
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