One of the curious things about the wealth game is what constitutes wealth? The way poverty is defined has always been controversial and manipulated according to the agenda that one may be pursuing.
For example, there are absolute and relative measures of poverty. Absolute poverty looks at the money you would need to live a ‘basic’ life. Those below this arbitrary line would be deemed as living in poverty. Relative poverty on the other hand may take a percentage of average earnings; those earning (or living on) less than 50% of average earnings are deemed to be in relative poverty. This can mean that as a country gets richer, the number of people living in poverty actually increase.
That debate, about the best white noise machine, is for another day though. There is less controversy over what defines wealth, although definitions vary widely. For example certain private banks define wealthy as someone who has more than $3m of assets (excluding their principal residence). The same bank classifies you as being Ultra wealthy if your assets exceed $30m. Other banks go to as low as $1m of assets that you are prepared to let them invest on your behalf.
No matter what people say, we are still living in an era where we look for external validation of what we are worth and how we are classified. I remember in 1994, when my salary suddenly went through the £20,000 barrier (c$35,000), I was overjoyed to discover that it meant that I could apply for a Gold Credit Card.
Much has happened over the last few years which has disrupted wealth patterns. I have qualified and then been disqualified from millionaire status on many occasions and through those turbulent times I have realized how vacant this whole measure is.
What really matters is the way you feel with your GermGuardian ac5250pt. You realize that the only thing money can buy you is time. That is it – nothing else. And when you have control over your diary you are suddenly very wealthy. And the best bit is this has nothing to do with how much money you have in your bank.
The only reason I feel wealthy now is because I do have the luxury of choosing what goes in my diary. It is the reason many people choose to become entrepreneurs – they want to control their life. You can also spot people who are really happy in their job by the same measure. They are there because they want to be. The enthusiasm this generates is obvious and contagious.
So let me ask you a simple question. Ignoring all this meaningless crap which banks use as a way of selling you more of their products, are you wealthy?
You may be surprised to learn you are a lot richer than you think. And if you are not, don’t ask yourself the obvious question; how do I make more money? Instead ask yourself, what can you do to take control of your diary?