We often tend to think of wealth in terms of monetary and material wealth. The more possessions we have, the more wealthy we are regarded.
However, if we trace back to the original meaning of the word “wealth,” it comes from two old English words; “weal” which means well-being, and “th” which means a condition of. So if we combine the two words, wealth really means “a condition of well-being.”
This is different from our definition of wealth today. Consider this; if someone is wealthy financially but has poor health or poor relationships, would that person be considered as being truly wealthy?
When we think of being wealthy, it is beneficial to consider wealth in different areas of our lives. We cannot be truly wealthy if one or more areas of our life is causing us stress, turmoil, and having an impact on our physical health.
Given the choice, most of us would prefer to be wealthy, in its true sense. From my own experience, the times when I have considered myself wealthy, I had good health, felt secure financially and also had meaning and purpose behind what I was doing.
When I lacked wealth, things just seemed to get progressively worse and worse, and I tended to have negative thoughts and emotions. That’s not a good place to be.
Here are 10 reasons why I think it is good to be wealthy — financially, physically, emotionally, mentally, relationally and spiritually. These areas form the essence of who we are and will certainly affect the quality of our life. The premise I am adopting here is, “the more wealthier we are, the better our lives will be.”
- We can be more generous. If we’re physically wealthy, we’ll have more energy and stamina to contribute whether that is at work, at home or in our communities. If we’re financially wealthy, we can donate money, sponsor a child, support a cause we believe in, etc. Our generosity comes from our sense of self worth, and being wealthy certainly has an effect on our level of generosity.
- It requires us to learn and grow. In order to be wealthy, we will have to learn new things. It could learning about how to be financially wealthy such as becoming an investor, or learning about how to have better health, or how to create better relationships. These will require us to develop, grow and go to a new level of performance.
- We are more comfortable. When our basic needs as human beings are taken care of, we tend to be comfortable. When we’re comfortable, we’re more creative. Comfort in this context is not about being satisfied with where we are in life and not being willing to challenge ourselves to grow. It’s about having our needs met so that we can function well each day and be our best self.
- We can make a bigger impact. Take financial wealth as an example — if we’re not wealthy financially, the good we can do in the world is limited to our own physical presence. That means we’re restricted by the amount of time we can give toward a cause or project.
On the other hand, if we’re wealthy, we could potentially invest in more resources (people, technology, equipment, etc.) and leverage our time a lot better. And we don’t always have to be doing the work ourselves to have the impact we want.
- We will have more fun. How often is money a factor in deciding whether to do something or not? When we want to have new experiences such as adventures or trips, if we’re wealthy, our decisions will come down to whether we really want to do something rather than whether we can afford it.
- We will be a better parent. When we’re wealthy, we will be able to raise our kids with an abundance mindset rather than one of lack and limitation. If you’re a parent, think back to times when you decided not to buy or do something for your kids because you thought you couldn’t afford it. Wouldn’t it have been easier if financial wealth wasn’t a factor in your decision?
- We will attract people playing at the same level as us. It is not common for healthy people to be socialising with those who choose to be unhealthy (unless they are family). The people we surround ourselves with, we tend to become like them. Like attracts like so we will tend to spend time with people who are more like us, which is often a good thing.
- We tend to have less stress and more free time. One of my mentors often says, “You will be amazed at how much free time you have when you don’t have to worry about money.” That is so true. When we’re financially wealthy, we tend to have more choices and also make better decisions regarding our health, finances, and overall well-being.
- It will require us to form new beliefs. In order to attract, maintain and build our wealth, our mindset will change, which often means we adopt new beliefs about ourselves, others and the world. Our results are often a reflection of our beliefs, and in order to get better results, we must be willing to form new beliefs.
- We’ll have a happier life. There is this common belief that money will not make us happy. The origins of that idea has been slightly misinterpreted, however the difference it has made is enormous. The original idea was it is the “love” of money that will not make us happy. Loving, obsessing or hoarding money is not what it’s about. It’s about recognising that money or wealth is a means to give us what we want. It is okay to be wealthy and have a healthy relationship with money.
If we consider wealth holistically, then we will realise that being wealthy has a lot more benefits and provides us with so many more choices in life. We can do a lot more in the world if we’re wealthy compared to not being wealthy. It really comes down to what we believe to be true about wealth.
Question: Do you think it is good to be wealthy or not? Why?
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