How do you define being Wealthy?

When I was young I thought that money was the most important thing in life; now that I am old I know that it is. ~ Oscar Wilde

Let’s get to the understanding first “What exactly is Wealth?” The idea of wealth can be different from one person to another even though if they live in the same neighborhood together. It may also change from time to time for the very same person.

It can also be a comparison of where do you live and to whom you are comparing yourself. A person living in the USA earning a salary of $50,000 per year can be compared among median household earners, but for the rest of the world, he/she is the top 1% of wealthy. In a village in India if your earning is Rs. 30,000/- per month you can live life king size however in a metro city like Mumbai you may not be able to rent an apartment and struggle your daily existence with that kind of money.

To define exactly how being wealthy can be a bit bouncer. It also tied up with each and every aspect of our lives.

Wealth can be in the form of having full freedom to pursue life ambitions without being shackled down by monetary constraints and for some, it may be experience, knowledge, good health, and family.

Are You Wealthy Enough?

If we look at some of the richest people in the world they do not consider themselves being wealthy, for some having enough cash to handle without liquidating their assets was the idea of being wealthy for others it meant having peace of mind.

When I also interacted with different age groups the idea of being wealthy was different from one another. For example, a Thirty-Five-year-old Rita wealth is a feeling of security but only when it comes to a combination of monetary assets along with knowledge, experience and commitment. However for John, his idea is in terms of material wealth which you should have earned it ethically and it should not be beneficial to others, not just yourself, age forty.

Conclusion

Think about what being wealthy means to you. The “you” part it fundamental because no two will offer the same definition of wealth. Only once you know what being wealthy means to you will you be in a position to work towards it.