Are You Truly Rich? The Meaning of Wealth Beyond Finances

“Massive poverty and obscene inequality are such terrible scourges of our times — times in which the world boasts breathtaking advances in science, technology, industry and wealth accumulation — that they have to rank alongside slavery and apartheid as social evils.” Nelson Mandela

What do you think of when you think about wealth? Perhaps a luxurious house on the hill, a flashy car in the driveway, or a yacht sailing the Mediterranean. People often associate the concept of wealth with money, but is that all there is to it?

We live in a world where we are either driven by "greed or need."

"Greed makes us want more than we can handle. It makes us heap up things until we have to acquire more living space just to keep it all." This statement piqued my interest while I was reading the book "Money won't make you Rich" by Sunday Adelaja.

What then is the real definition of being rich? Is it solely about money, or is there more involved? Let us explore this intriguing question in depth and uncover the numerous layers of what it signifies to be wealthy.

1. The Money Myth: It’s Not Just About The Currency

Money is a major factor in the equation, and as a matter of fact, it is nothing but a legal tender, as economists will call it. It enables us to live comfortably, explore the globe, and take advantage of opportunities that might otherwise be inaccessible. But I'd like to ask the question, Is money the sole determinant of wealth, though?

Well, the answer is no. True wealth transcends what your bank account shows. It concerns the way you utilize your resources. It’s great to have wealth, but you are truly rich when you use it wisely to create meaningful experiences, nurture relationships, and invest in things that bring happiness.

However, values and assets are what entail true wealth.

2. Time: The Ultimate Luxury

Now, let’s discuss something that is beyond monetary value: time. Your most valuable resource is time. Consider it. The ability to wake up free from the stress of a 9-to-5 job, to spend your day pursuing your passions, or to have the flexibility to travel and discover the world without the burden of deadlines—this is a type of wealth that many aspire to.

When you have the time, you can follow your passions, dedicate time to self-care, and create lifelong memories. And can you believe it? This is often regarded as a type of wealth. Wealthy individuals are not solely defined by their ability to spend lavishly; they are the ones who can use their time as they wish and to the fullest.

3. Freedom: Financial Independence and Beyond

Freedom encompasses more than the capacity to earn money; it fundamentally involves the capacity to make choices. Consider financial independence. When you possess the financial means to sustain yourself independently, you can make choices that reflect your values and passions. That is the purest manifestation of freedom.

Wealthy individuals often aren’t constrained by social norms, allowing them to live according to their own standards. This can mean traveling the world, launching a passion project, or just opting for a guilt-free day off. The ability to make such choices is a kind of wealth that isn’t always reflected in one’s balance sheet.

4. Relationships: The Hidden Wealth

If you lacked people to share it with, what would all that time and money mean? The aspect of being rich that is most frequently neglected is relationships. Consider those individuals in your life who motivate and encourage you. Be it relatives, buddies, or a significant other, your connections yield an emotional wealth that transcends any monetary valuation.

In this sense, richness doesn’t refer to the number of people who know your name but rather to the depth of their value and care for you. When shared with those we love, wealth takes on greater worth. The relationships we nurture and the love we share are among the most valuable experiences that life provides.

5. Mindset: The Secret Ingredient

The mindset of the affluent doesn’t center around tallying stacks of cash; it centers on abundance. People who view the world as brimming with potential, hope, and progress are the ones who experience a sense of wealth. They focus on their assets instead of their shortcomings, and they come to understand that true wealth comes from within.

To be wealthy is not a goal to reach; it's an attitude. Whether you’re dealing with difficulties or rejoicing in triumphs, fostering a constructive, growth-focused mentality allows you to flourish. People feel more affluent, irrespective of their financial status, due to the capacity to stay adaptable and receptive to life’s surprises.

6. Personal Fulfillment: Happiness is Wealth

Everyone seeks happiness, which cannot be derived solely from material riches. Being rich means being aligned with your true self, engaging in work that feels significant, and being comfortable in your own skin.

Whether it’s chasing your dream job, participating in hobbies that thrill you, or just embodying thankfulness in life, personal fulfillment generates an invaluable wealth that money can’t match. Ultimately, who is wealthier than a person who can take pleasure in the simple moments of each day?

7. Richness is Multifaceted

So, how do we define being rich? Is it related to the size of your bank account or what’s in your closet? To summarize, wealth is characterized by balance. Indeed, money can offer comfort, but it is the wealth of time, freedom, relationships, mindset, and personal fulfillment that truly creates an abundant life.

True richness comes from the interplay of all these aspects: a life that seems to be full, meaningful, and in harmony with your most profound values. While pursuing your ambitions and dreams, keep in mind that the most fulfilling lives are those abundant with experiences, relationships, and the capacity to savor each moment. Now, that is a treasure that is worth pursuing.

So What’s Next?

Being wealthy encompasses much more than just the number of zeros in your bank account. It’s about possessing the time, freedom, relationships, mindset, and sense of fulfillment that render life worthwhile. The next time you contemplate the meaning of being rich, keep in mind: it’s not only about wealth—it encompasses all those things that money can’t purchase. That is the genuine nature of wealth.