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This seems like a fairly straight forward question. What is wealth? No only what is wealth, but why would you even care about something like that?

For me, thinking about this issue allows me to understand what’s important in my life. I encourage you to do the same and think about what’s important in your life.

Is wealth always about the money?

Let’s face it, money is important. At the same time, you probably don’t want money to rule your life. If you spend all of your time chasing money and trying to catch up to the next bigger fish you never take time to smell the roses.

Many people will tell you that living in the present is where real wealth happens. If you’re always wishing that you’re someplace else you’ll never live in the present.

What about your relationships?

For me, and I hope for you, true wealth is about your relationships. Do you have strong friendships? Do you spend time with people who make you feel loved? Are you able to give as well as take?

Having trusting relationships is something I think is really important. Building trust is focusing on the other person more than you. It’s going out of your way to do something nice just because.

What really makes you happy?

I’ll bet that being happy is about a lot more than just money in your life. Just as an experiment try this out:

Write down what it is that makes you happy. Then write down why this makes you happy. Third, write down what you need to do more of to become even happier. Finally write down who you need to get help from for additional happiness to appear in your life.   When you’re done, you pretty much have described what wealth is. I might be willing to bet that money isn’t going to play a big role in the answers to these four questions.

Think about what you want in the future.

Here’s another experiment for you to try:

Start by writing down five things you would like to see happen in your life in the future.   Then write down where you are today around those five things. Third, write down what the gaps are. Fourth, write down what the value would be if you were to fill those gaps and make the future your reality.

I bet you could look at that future and say, “that’s wealth also.” Sometimes the future will be about a monetary goal, sometimes it will be about relationships, sometimes it’ll be about a state you want to be in. It’s the start of a road map for what your future wealth will be.

What do you think? Is it worth your time to plan for what wealth means in your life? I hope your answer is yes.

There are lots of myths about what wealth is. There are also lots of myths about the motivations of private business owners. We’ve put together a special report on the 7 Myths of Private Business Owners.

7 myths of the private business owner

Topics: value creation, Focus, wealth

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