What does Wealth mean to you?

Jackie Glassock 

8^th October 2019

As a wealth coach, clients don’t only come to see me about money.  Having spent most of my career in a traditional retirement fund business this is a little different from what I was used to, where we focused on increasing assets and reducing debt in preparation for retirement years.

One of the first very important questions that I now ask my clients is “What does wealth mean to you?”.  It is alarming that many people focus only on the financial element of wealth.  More and more a growing number of clients, often those who have amassed quite substantial amounts of money, are giving wealth a much broader meaning.

In the context of my coaching it is clear that wealth is no longer just an abundance of valuable things and money. It is very evident that true wealth is more of an inner condition of being.  To be truly wealthy it is important to focus not only on growing one’s monetary wealth but also to focus on spiritual, emotional, intellectual and physical aspects of one’s self.  Without these you will never be truly content, happy and healthy. 

It seems pointless to work harder and harder to build wealth that is not going to make you happy.  In a book I recently read by Esther Wojcickir called “How to Raise Successful People: Simple lessons for radical results”, Esther says: “I have met a lot of millionaires and even some billionaires who are not happy”.  A clear indication that you may not have looked at the holistic meaning of wealth, making sure all quadrants are being nourished and fulfilled.  It seems that in the pursuit of money true purpose may have been lost.

It’s very important to know right from the outset which of these other competencies are high on your value chain.  What this does is give you a better idea of what will bring you peace and make you happy.  Understanding this will ensure you are shooting for the right target so that when you get there you aren’t disappointed. It is also imperative that you do not focus on one element of wealth at the expense of the others, only to find yourself unhealthy and miserable with a big bank balance down the line.

 

We need to look at Wealth like a hot air balloon. If you have a good quality balloon (the monetary part of your wealth) and you focus on all four elements making up the air in the balloon (spiritual, intellectual, physical and emotional) the balloon will float effortlessly upwards as soon as you heat the air with the burner. By the same token if you ignore one or more of the elements of the balloon, it will merely be a big colourful piece of ripstop nylon lying in a field. 

Heating the air ensures effortless results and a peace that you can only experience when you are floating in the silence above the frenzy and noise of daily living.  The balloon will not soar unless it is whole, this same holistic approach to wealth needs to be in focus at all times.

For anyone wanting to focus on wealth creation please explore these 4 important questions:

1.     What does wealth mean to me?

2.    If wealth is not just about money for me and in order to attain my version of wealth, what other elements in my life do I need to focus on?

3.     How will my life be different when I have reached my wealth goals?

4.    Am I ready to take responsibility for building and creating my wealth?