How To Design A True Wealthy Life

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🧠 This week’s favorite thought 🧠

How do you define a rich person?

Many would say that it’s someone with millions or billions of dollars, owning luxury properties in NYC, Monaco, or Dubai, and spending their time on private jets and yachts.

Something like this:

But is that truly a rich life?

We tend to believe that people with a lot of money have a dream life, something that we should envy.

For those who have a limited resource of money, this can be especially appealing and desired.

But mostly, we don’t know the struggles, the shallow inscape, and the restraints they have in life.

Take Elon Musk as an example. He’s currently the wealthiest person on Earth.

And while I admire him for much of his work and his mission to bring humankind to Mars, his life is mostly scary and unattractive.

A few years ago, he gave an interview with Rolling Stone where he opened up about his emotional state.

He also adds the following:

And while this interview was almost 6 years ago, his life doesn't seem much better.

Working extremely long hours, sometimes sleeping in the factory, and having limited time with his kids.

Despite his massive wealth, this doesn't seem like a rich life on paper.

Of course, he is an extreme example, but since his life is often glorified, it's important to mention him here.

However, he is not the only rich man with issues in his personal life. If we look at some of the wealthiest people's luck with their marriages, we can draw a conclusion quite well. See below:

And this is just one aspect of the issues with massive financial wealth.

Also, we can talk about the backlashes of fame, potential fake friendships, constant threats, attacks from the public sphere, etc.

But let’s now talk about the issues of being too rich - regarding of financial wealth.

The Problem With Having Too Much Money

Jack Raines wrote a banger piece on the notion of the optimal amount of wealth.

In his article, he brings the Freedom-Wealth Scale.

This refers to the optimal amount of wealth that gives us true freedom without the mental and soulful prison that massive financial wealth brings.

So what does this mean?

In simple terms, if we acquire too much wealth, that comes with certain fame, influence, and a lifestyle that we need to maintain.

But as we tweak our lifestyle with elements like a bigger house and more expensive vehicles, such as a private jet or a yacht, we must keep pushing to ensure we can keep financing the maintenance cost of such material possessions.

Not to mention the personal network and relationships that such a lifestyle attracts.

Of course, exceptions are there, but we see the general tendencies.

So how free can we call ourselves if our mind constantly circles around the urge to maintain that lifestyle and preserve our wealth?

Not that free.

As Jack says in his article:

Okay, so how shall we approach this whole wealth thing?

How can we become genuinely rich?

The 5 Types of Wealth

In my understanding, there are 5 types of wealth:

1. Financial

2. Physical

3. Mental

4. Time

5. Social

1) Financial Wealth

Pretty straightforward. It refers to:

• the money you have in your bank account or in cash,

• all the assets you have - properties, stocks, bonds, etc.,

• your income.

If you have a stable financial background, it makes to free from mental struggles, difficulties with sudden expenses, or any kind of finances that you have to cover your living costs.

Having enough money also enables you to pay for various things you desire - new shoes, a spontaneous trip, or any other experiences that make you feel alive.

2) Physical Wealth

This refers to your living circumstances, health and fitness.

How safe your living environment is. Whether you live free from armed conflicts or natural disasters. Or whether you have a roof above your head with running water and heating.

It also refers to your state of health. If you enjoy the freedom from diseases or any physical disorders that seriously limits your comfortable living (e.g. being blind or forced into a wheelchair)

Nowadays, many of us have various disorders that urges us to be more careful about our lifestyle, however, if we manage to seamlessly do that, the wealth is there.

Physical wealth also includes our fitness level. Are you someone of 300 kg and unable to move? Or do you have the freedom of walking, running and working out?

3) Mental Wealth

This type of wealth includes your state of mental health, knowledge, spirituality, and purpose.

All those things bring more spice to your living days.

That you are living your days at full capacity.

That you can be present in the moment and aware of any purpose you have in life.

That you are free from most addictions.

4) Time Wealth

While all types of wealth are extremely crucial, this one is my favorite.

It refers to how you own your time. How you control your hours and days.

Are you in the prison of a rushing daily schedule?

Or are you at liberty to choose how you spend a particular hour in a day?

Such as sitting in a café with a nice book and a cup of coffee on a nice Monday midmorning.

Being time wealthy means that you can spend your living days intentionally, without (most of) the restraints of the rat race.

5) Social Wealth

Being socially wealthy means that you have great people around you: family, friends, and a loved one.

It also refers to other personal connections, such as great partners whom you can collaborate with on hobbies, passions, and work.

You have the sense that your relationships bring you a great amount of value rather than sucking your energy.

A wealth that makes you feel like a true social living creature.

Define Your Wealthy Life

If you want to assess how wealthy are in your life and know which direction you need to improve, think through your current life based on those 5 types of wealth above.

Takes notes on paper or in your digital notebook.

How wealthy do you consider yourself within those types? 

What is your ideal wealthy life?

Make sure to be as specific as possible.

And don’t worry, this can change over time. We human beings are constantly evolving and creating a better version of ourselves.

That includes the fine-tuning of how we perceive wealth.

If you become conscious about your own definition of wealth, you are one step ahead to live your life intentionally and be mindful of all the wealth you already have in your life.

As in many ways, we are all already rich in life.

And you will only become richer!

Máté - The Mindful Guerilla

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