Am I Rich?

Growing up I always assumed that being rich meant living in a big house and driving a sports car.

But I’ve learned over the years that having that “stuff” doesn’t make a person rich.

They might have a high income, but they may also spend beyond their means and couldn’t go three months without their high-paying job and still maintain their lifestyle.

They’re in a state where all that stuff burdens them to keep working for the sole purpose of keeping those things.

They’re certainly not rich, they’re just able to afford more debt.

What does rich mean to me?

I think a common mistake we all make is to use the terms “rich” and “wealth” interchangeably.

I don’t believe that the term rich refers to the amount of money you’ve accumulated. That’s wealth.

To me, being rich is a mindset. It’s not some arbitrary dollar figure or my social status. I don’t need the latest and greatest gizmo or gadget. And I don’t care if people see me driving the same car for 10 years.

I just want to live free of debt, I want to be generous with my wealth, and I want to appreciate what I have.

Don’t get me wrong, it’s okay to spend money on things that make us happy. But all that “stuff” alone does not make a person rich.

How to think about being rich

Once we rid ourselves of the assumption that being “rich” means that we have a ton of cash or things, there are so many way-more-meaningful ways to think about being rich, including:

Friends and Family: I consider having good friends and family, basically any group that has your back 100%, to be a sign of being rich. Money doesn’t come close to offering the same type of value that friends and family can offer.

Generosity: Why accumulate wealth if you aren’t able to share it? And I’m not talking about solely giving to charity or the less fortunate either. It just feels nice to buy your friends or family dinner sometimes just because you can.

Hobbies: I believe that having hobbies is essential to happiness. The more hobbies we have, the more productive that we tend to feel especially after the drain of full-time work is off of our shoulders. 

Community: This kind of goes hand-in-hand with hobbies. We’re social creatures by nature, and communities help to nurture what comes naturally to the majority of us. Surround yourself with like-minded individuals who have a common goal/interest and you’ll instantly feel richer.

How do you think about being rich? What are other ways of considering yourself rich?