By Tim Jenkins
Taken from https://trinityfamilywealth.ca/3-steps-to-create-true-wealth/
Are you wealthy or just rich?
Unfortunately, most people confuse having money with being wealthy. Our culture suggests that success will be found at the next level. Whether that is the next income bracket, the next house, the next car, the next position; those next levels are always there for our grasp.
Why is it then that if we take the time to actually stop and evaluate where we are, we realize we have already achieved many levels beyond where we were a couple of decades ago?
Many new levels have been achieved, yet we feel no different. Success, that place of ultimate satisfaction and fulfilment which seemed attainable, continues to be elusive.
Jerry Foster is a wealth advisor and mentor of mine from Des Moines. One of Jerry’s quotes that has always stuck with me is “You can climb to the top rung of every ladder – achievement, fame, prestige, power and wealth – and still not feel happy and fulfilled.” So, if success leaves us empty and searching, have we really succeeded? In the words of a Japanese proverb ‘He is poor who does not feel content’. The dilemma of success without satisfaction challenges us to take a long, hard look at our culture’s definition of success.”
Our definition of success and how we pursue it has everything to do with whether or not we experience a satisfying, fulfilling life. Rather than establishing our definition of success, most people default to cultures’ definition, pay a wicked price to attain it and unfortunately never find contentment.
Years ago, Jerry taught me a critical question that helps clients define and achieve True Wealth. We ask clients to complete the following statement:
“Wealthy is the person who…”
In a few minutes you can identify how you define wealth. Our experience shows that most responses to this statement fall into one of five dimensions of wealth: Financial, Relational, Spiritual, Physical and Intellectual. It’s also very interesting that for most people, although finances may be on the list, they are not at the top. If that is the case, why are we sacrificing items of greater value for money (especially when our needs have been met)?
Once you have your definition of True Wealth, you need to evaluate where you are on this journey and what mid-course adjustments need to be made to help you attain more wealth.
With a new year approaching, it’s common to think about the past year and contemplate the next year. This is the perfect time to define True Wealth. But it’s just as important to open your calendar and reserve the critical times through the year for building wealth; times for family, faith, health, recovery, etc. Author Bill Hybels talks about viewing our calendars more strategically through the lens of our future aspirations, not just obligations. It’s important to understand that our calendars aren’t just about what we need to do, they reflect who we want to become.
The great news is you can be wealthy and not just rich! And you can make a great start in just one hour. Schedule what could be the most valuable hour of your year and:
- Complete the statement “Wealthy is the person who…”
- Identify the adjustments that need to be made to increase your True Wealth
- Reserve time throughout the next 12 months to create True Wealth
A satisfying, fulfilling life is possible. Invest time and energy this year to create more True Wealth, and you’ll notice the rate of return will be exceptional!