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Authors: M.J. DeMarco
Tags: General, Business & Economics, Entrepreneurship, Personal Finance, Motivational, New Business Enterprises
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The Wealth Trinity: What Is Wealth?
Wealth isn't as ambiguous as it may seem. The happiest moments in my life were when I felt true wealth. And guess what? It wasn't the day I bought my first Lamborghini. It wasn't the day I moved into a big house on a mountain or sold my company for millions. Wealth is not authored by material possessions, money, or “stuff,” but by what I call the three fundamental “F's”…
Family (relationships)
Fitness (health)
Freedom (choice)
Within this wealth trinity is where you will find true wealth and, yes, happiness.
Wealth is strong-spirited familial relationships with people. Not just your family, but with people, your community, your God, and your friends. At the end of the iconic movie It's A Wonderful Life we're given the final lesson: “Remember, no man is a failure who has friends.” This reflects on the importance of having your life shared with friends, family, and loved ones. Wealth is making a difference. Wealth is community and impacting the lives of others. Wealth cannot be experienced alone in a vacuum. Believe me, the richest moments of my life occurred when I was surrounded by a family of friends and loved ones.
Second, wealth is fitness: health, vibrancy, passion, and boundless energy. If you don't have health, you lack wealth . Ask any terminally ill person what they value. Ask any cancer survivor how they suddenly feel reborn and happiness is displaced from “stuff” to people and experiences. There is no price on health and vibrancy.
And finally, wealth is freedom and choice: freedom to live how you want to live, what, when, and where. Freedom from bosses, alarm clocks, and the pressures of money. Freedom to passionately pursue dreams. Freedom to raise your children as you see fit. And freedom from the drudgery of doing things you hate. Freedom is the liberty to live your life as you please.
Wealth Can't Be Bought for 60 Easy Payments
I vividly remember the day. After I sold my company in 2000, my attorney handed me my first installment payment, a check for $250,000.
“Yippee, $250,000! I'm rich! I made it!” I mistakenly gleamed.
And now it was time to announce it the world. I immediately envisioned fast cars, designer clothes, speedboats, and an entourage of bikini-clad women. I thought I was wealthy and I was going to flaunt it.
Unfortunately, that fantasy was miles from the reality. Yet, I tried. I bought a candy-apple red convertible Corvette. Sports car? Check. Designer clothes from Nordstrom? Check. I researched buying a speedboat until the Internet crash interrupted my orgasmic vision. I invested my newfound wealth in tech stocks and lost thousands of dollars. Within months, more than half of my “wealth” evaporated, and after a conversation with my accountant, another third was soon to be parted with, thanks to taxes.
Ironically, in my attempt to look wealthy, real wealth slid further away . With no job, no business, no income, and a small sum of money, I couldn't support my life forever, nor the wealthy lifestyle I envisioned for someone rich. I wasn't rich at all.
The Illusion of Wealth: Looking Rich
In pop culture, master illusionists of wealth are called “30K millionaires.”
If you haven't heard this phrase, it characterizes someone who maintains an image of a millionaire, yet has no net worth. These folks aren't hard to find. They drive entry-level BMWs with custom chrome rims, they wear fancy designer clothes with gothic cursive lettering from some faux French guy, and they congregate in the VIP section of the club ordering bottle service, of course, on credit. These folks broadcast like dashing debutantes with an extraordinary A-game, but behind all the flash-and-cash they're miserable magicians of the Sidewalk.
The problem with looking wealthy versus being wealthy is that the former is easy while the latter is not. Easy credit and long-term monthly financing options(make no
The Wealth Trinity: What Is Wealth?
Wealth isn't as ambiguous as it may seem. The happiest moments in my life were when I felt true wealth. And guess what? It wasn't the day I bought my first Lamborghini. It wasn't the day I moved into a big house on a mountain or sold my company for millions. Wealth is not authored by material possessions, money, or “stuff,” but by what I call the three fundamental “F's”…
Family (relationships)
Fitness (health)
Freedom (choice)
Within this wealth trinity is where you will find true wealth and, yes, happiness.
Wealth is strong-spirited familial relationships with people. Not just your family, but with people, your community, your God, and your friends. At the end of the iconic movie It's A Wonderful Life we're given the final lesson: “Remember, no man is a failure who has friends.” This reflects on the importance of having your life shared with friends, family, and loved ones. Wealth is making a difference. Wealth is community and impacting the lives of others. Wealth cannot be experienced alone in a vacuum. Believe me, the richest moments of my life occurred when I was surrounded by a family of friends and loved ones.
Second, wealth is fitness: health, vibrancy, passion, and boundless energy. If you don't have health, you lack wealth . Ask any terminally ill person what they value. Ask any cancer survivor how they suddenly feel reborn and happiness is displaced from “stuff” to people and experiences. There is no price on health and vibrancy.
And finally, wealth is freedom and choice: freedom to live how you want to live, what, when, and where. Freedom from bosses, alarm clocks, and the pressures of money. Freedom to passionately pursue dreams. Freedom to raise your children as you see fit. And freedom from the drudgery of doing things you hate. Freedom is the liberty to live your life as you please.
Wealth Can't Be Bought for 60 Easy Payments
I vividly remember the day. After I sold my company in 2000, my attorney handed me my first installment payment, a check for $250,000.
“Yippee, $250,000! I'm rich! I made it!” I mistakenly gleamed.
And now it was time to announce it the world. I immediately envisioned fast cars, designer clothes, speedboats, and an entourage of bikini-clad women. I thought I was wealthy and I was going to flaunt it.
Unfortunately, that fantasy was miles from the reality. Yet, I tried. I bought a candy-apple red convertible Corvette. Sports car? Check. Designer clothes from Nordstrom? Check. I researched buying a speedboat until the Internet crash interrupted my orgasmic vision. I invested my newfound wealth in tech stocks and lost thousands of dollars. Within months, more than half of my “wealth” evaporated, and after a conversation with my accountant, another third was soon to be parted with, thanks to taxes.
Ironically, in my attempt to look wealthy, real wealth slid further away . With no job, no business, no income, and a small sum of money, I couldn't support my life forever, nor the wealthy lifestyle I envisioned for someone rich. I wasn't rich at all.
The Illusion of Wealth: Looking Rich
In pop culture, master illusionists of wealth are called “30K millionaires.”
If you haven't heard this phrase, it characterizes someone who maintains an image of a millionaire, yet has no net worth. These folks aren't hard to find. They drive entry-level BMWs with custom chrome rims, they wear fancy designer clothes with gothic cursive lettering from some faux French guy, and they congregate in the VIP section of the club ordering bottle service, of course, on credit. These folks broadcast like dashing debutantes with an extraordinary A-game, but behind all the flash-and-cash they're miserable magicians of the Sidewalk.
The problem with looking wealthy versus being wealthy is that the former is easy while the latter is not. Easy credit and long-term monthly financing options(make no
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