True Wealth

tip-o-the-morning

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What does it mean to be rich?

Some would say you are rich when you have $5 million or more.

Others might argue that you are rich when you have no debt.

A few might say you are rich when you can buy whatever you want.

There are those who believe you are rich when you can afford a vacation home and still others who would argue you are rich when you no longer need to work.

Everyone has their opinion.

I have one too.

To me, you are truly rich when you cease worrying about money; when, given your lifestyle, the money you’ve saved can sustain that lifestyle for the rest of your life.

Elton John reportedly spends $1,000 a day on decorating his home with flowers. He still needs to work to sustain his lifestyle. Elton John, I would argue, is not rich

I have about 100 clients who are rich. At least according to my definition of true wealth. They have no debt and enough money saved to support their lifestyle for the rest of their lives. They don’t have opulent lifestyles but they are comfortable and they can live in that comfort until they die.

What does being rich mean to you?

Your definition of true wealth may be subconsciously dictating how you live your life.

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Thomas C. Corley About Thomas C. Corley

Tom Corley is a bestselling author, speaker, and media contributor for Business Insider, CNBC and a few other national media outlets.

His Rich Habits research has been read, viewed or heard by over 50 million people in 25 countries around the world.

Besides being an author, Tom is also a CPA, CFP, holds a master’s degree in taxation and is President of Cerefice and Company, a CPA firm in New Jersey.
 
Phone Number: 732-382-3800 Ext. 103.
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Comments

  1. Heera Sidhu says:

    Being rich to me means that my family can live a comfortable life with enough left over to help those less fortunate. As mentioned in your post, Tom, comfortable does not mean opulent to us. The most important thing is togetherness and health. Outside of the need for mind, body and soul, knowing that our finances can sustain over our lifetime is what I would call “rich.” Both in financial and self-fulfilling terms.

  2. Being rich is relative. Like you said, it means something different to everyone. I truly am rich because I don’t have to worry about money, and debt-free, however more importantly is the fact that I have my health and the wisdom of God! Now those are true riches!!!!

  3. Hi Tom,
    your short article really makes sense if anyone can define what his/her lifestyle is. What we are always lured to where we don’t know is because we never have a clear definition of our life. A large number of people are struggling hard to get what they perceive as rich, which they will never realize because of having no definition to guide them. Rich may means to have a little thing in life, but self-contentment is reached therefrom. Sure, rich is closely related to a certain amount of money in a certain or other way, but not necessarily a huge amount if the decent individual definition is provided. In short, rich is attainable if you have in your own head the definition where life can be comfortably and happily spent.

  4. I agree !!! Being rich means that you are not only rich in cash… but more so – that you are rich in compassion !!!

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