Is it fast cars, villas, mansions, condo units with a birds-eye view of key cities, shopping sprees on New York's Fifth Avenue, champagne and white wine, or exclusive passes to LA's best clubs? Well, these are what modern-day dreams are made of. Thanks to the MTV culture built around lifestyles of celebrities, millions of youth transfixed on the boob tube think that THIS is what the ideal life should be. Or is it?
Wealth is defined in the dictionary as "A great quantity or store of money, valuable possessions, property, or other riches." And indeed, the perception of wealth conforms to this idea. The more the merrier. But do you realize that the average Joe already lives wealthier than noble people in centuries past? Many of us believe that we need more and more THINGS to make us happy and feel wealthy; but little do we all realize that we are already living lives better than noblemen before.
But comparing standards to feel better about what we have won’t work. Truly understanding what it means to be wealthy will have to start with stopping thinking in terms of what everyone else thinks it is, and live by understanding how to live wealthier means to YOU.
But before you define what “Wealthy” means in your book, here are basic things to live by:
These are some of the things we can advise on how you can live wealthier. Though, like plains and prints, you certainly can mix and match which will apply to you.
These principles are nothing new. Personal finance gurus and people who have had everything, lost everything and regained everything swear by these. And you’d be surprised that even multibillionaire Warren Buffett actually lives by some of these principles.
Now that we have the basic principles of how to live wealthier in place, we go to the things that may set you back.
The ability to delay gratification has been proven to be a big determinant of success in life. Ever heard of “The Marshmallow Test”? This is the lab experiment done on toddlers which attempted to determine whether their ability to wait and delay gratification would be a factor for their success or lack of it, later in life.
The researchers at Stanford University later tracked the children, who were, by then, adolescents. The children who were able to wait became better-adjusted, dependable teens.
The ability to say no to grabbing that thing you want, right here, and right now, will determine how much money you will be able to save and/or invest.
Living beyond one’s means is tied to an inability to say “NO” to everything that’s shiny and will cost a few dollars. But if you say “NO” to the shinies, you will be able to live a truly wealthier life.
Health, emotional and physical, will determine your level of functioning in life. Being strong and fit to work at the top of your ability, with full energy, will allow you to be productive and be compensated for your productivity. Being free of emotional baggage will cause you to think clearer and work and strategize how to reach your dreams.
Health, then, is a three-fold factor in a full, well-lived, wealthy life: it allows you to be in top form to perform and earn better, and enables you to enjoy the fruit of your labor to the fullest. What’s more, being at the top of your health will save you from paying exorbitant medical bills.
Healthy relationships are also crucial to a life that’s able to live wealthier. Our family and true friends are our greatest wealth, especially in times when money is not the solution to the problem.
Prosperity also comes to those who are optimistic that when we create something positive, the world may become a better place for us and the people around us.
So in our perspective, being able to Live Wealthier isn’t only about the stats of your assets. It’s the full experience: do you enjoy life? Do you live a life that’s free of that weird compulsion to keep checking whether you’re still better than the Joneses? Do you keep a smile on your face at the end of the day, knowing that it was another day well spent and fully enjoyed?
If you can answer those questions with a half-confident YES, you’re well on your way. If you’re answering with some NO’s but you’re sure you can get to more YES’ soon, it’s still a great path. Work on getting towards being able to answer all our probing questions with a heartfelt, fat YES all the way, and that will be the essence of a life that’s has let you Live Wealthier.
Strive to Live Wealthier, starting today!
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