The past three years have been a challenge for me. I’ve spent more time than I wanted dealing with cancer. I’ve spent a great deal of time integrating the lessons I’ve learned from cancer and how it has added to my personal wealth.
Personal wealth is not only a measure of how much we have. It also deals with what adds richness and color to our life.
Last year I had an opportunity to hear a man named Jay Hughes talk about the topic of shirtsleeves to shirtsleeves in three generations. This is when the first and second generation develops a significant amount of wealth and third generation dissipates the wealth.
During the talk he spent time asking us the question about what is wealth. I walked away from the session with some food for thought. The food was what else in our life is wealth besides money.
For me some of the things that are non-monetary wealth are:
- My relationship with my wife. She is my best friend and I’m very thankful for that.
- An appreciation of my children and how they’ve developed as adults.
- My relationship with my father and how glad that he has taken the role on of our family elder.
- The fact that I get to love what I do for a living and have been able to work for myself for over thirty years.
- My love for learning new things and have the time to study and think about my world and makes it work. (or in some instances not work)
I believe it’s important for us to examine what our wealth is in our life. My cancer experience gave me the impetus to expand my definition of wealth. It’s something I encourage all to do.
The wealth management process is not only about money. It’s also about being a good steward for the other things in our life that add to its richness and give us things that we are thankful for.
What are you doing to manage your non-monetary wealth? Is this something you think about? If so, I would love to hear how you manage all of your wealth. Please email at Jpatrick@stage2planning.com to let me know what you think.
Securities and Investment Advisory Services offered through NFP Securities, Inc. (NFPSI), Member FINRA/SIPC. Stage 2 Planning Partners and NFPSI are not affiliated.
This article is published for residents of the United States only. Registered Representatives and Investment Adviser Representatives of NFP Securities, Inc. may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all of the products and services referenced on this site are available in every state and through every representative or advisor listed.