The True Measure of Wealth

Although having enough money to satisfy basic needs is critical to not having stress, sufficient financial resources are not the key to wealth.

Realize that wealth and money are actually two different things. Many people believe that making more money creates wealth. And a person can devote time to make more money. However, it’s impossible to create more time, which is why I think of wealth as the creation of discretionary time.

Time is the Real Wealth

We all have 24 hours in the day, and that’s it. Money is just a means to an end. Riches are not wealth. A bank account is not a lifestyle.

In reality, what you choose to do, how much time to engage in what you choose, and when you choose constitutes inestimable wealth.

Watching your kids play soccer or dance at a recital, going to a spontaneous lunch with your spouse or a special friend, engaging in charity work without feeling it’s “robbing you” of time otherwise needed elsewhere, are all displays of great wealth.

Before I engage in an activity, I reflect by asking myself, “Why am I going to engage in this activity?” I then reflect on a key learning from my college major in economics, namely, opportunity costs. In simple terms, if I engage in one activity it is at the time cost of not engaging in something else. Being able to spend the time doing something you love and without regret is the true hallmark of wealth.

Tip: To assume that more money will bring you more wealth is an assumption that can lead to frustration and stress while depriving you of how to really enjoy life’s journey.

You can get many more empowering tips like this one in my award-winning book, Live Without Stress: How to Enjoy the Journey. Buy one and get one free as a gift. You will not want to depart with your own copy. Be sure to check out the Without Stress Facebook Group where you can connect with other life-minded people on a journey to reduce stress.