Ah … a loaded question. What does it mean to be wealthy?
If you are GenX like me, you were probably brought up these words ringing in your ears ‘don’t talk about religion, politics or money.’
It seems to me, these are all important topics we should be having healthy discussion about. Especially money.
Because of these old-fashioned beliefs about what we can and can’t talk about, we have a population that is mostly financially illiterate and not planning for their future beyond compulsory superannuation.
We need to be having these conversations – between partners, children and as a community so everyone is looked after.
Wealth means different things to different people.
A wealthy life for me is having enough money to be financially comfortable that I do not have to worry about paying my bills, putting food on the table and that every year, my husband and I can go off the grid camping and exploring the Australian landscape. I do not need trips overseas or wine collections or a big fancy house.
When I am ready to retire, I have a few investment properties under my belt and a steady income flowing.
That is just me.
Definition of wealthy
The dictionary says wealthy means having a great deal of money, resources, or assets; rich.
Let’s spin wealthy on its head.
- Why can’t it mean being healthy so you can climb mountains and go on long treks?
- Why can’t it mean you are surrounded by people who love and care for you?
- Why can’t it mean every year you can take your family overseas to spend a couple of weeks in another country, exploring a new culture and learning a new language?
It is more than money and being rich
Yes … money does make life easier. I would rather have it than not have it. I do not want to be poor; struggling to make ends meet. For me wealth is about having a number in my head pf the amount of money that will make my life comfortable. You can see my needs are few so it is not millions and millions I need to create a wealthy life – so I can be debt free, look after my family and do good in the world.
But it is more than money – wealth is health, giving, being educated, having what means the most to you.
Wealth is about education
Robert Kiyosaki says lots of people can become rich. But only financially intelligent people can become wealthy—and that takes a strong financial education to do that. We don’t learn this stuff at school, so don’t be afraid to reach out to someone you see as wealthy and ask them for guidance. Never stop learning.
Tell me … what is that for you?