Some people might define wealth as assets minus liabilities.
I prefer this definition: having enough.
By this definition even if you’re poor, if you have enough, you’re wealthy.
Whereas if you have all the money in the world, if you never have enough, you’re poor.
As Seneca said 2000 years ago, “It is not the man who has too little, but the man who craves more, that is poor.”
Wealth springs from your state of mind more than it does from your personal balance sheet.
Wealth is being grateful for what you have.
Wealth is good health.
Wealth is family and friends who love you.
Wealth is all of the things money can’t buy.
Enough
I try to encourage people to save their money to work towards financial freedom. But just as importantly we need to focus on our mindset: having enough. Because regardless of how much you accumulate, if you never have enough, you will never be free—financially or otherwise.
Enough is perhaps the ultimate goal. Because at some point what you have has to be enough.
There will always be people with more money than you. People who achieve more. Who seem to have more. If we’re constantly chasing the carrot, we will never be happy.
And what’s wealth without happiness?
Ultimately, happiness is wealth.
As Seneca said:
You ask what is the proper limit to a person's wealth? First, having what is essential, and second, having what is enough.
Bottom Line
Wealth is having enough.
Poverty is always wanting more.
Wealth is all of the things that money can’t buy: family, friends, good health.
And appreciating the short time we’ve all been given on earth.
Great advice Greg. Money seems to be on everyone's mind and the more the better. Not necessarily so. Thanks for your advice. God Bless