If You’re Still Worried, You Aren’t Wealthy

Posted June 1, 2021 by Ben Carlson

Wealth means different things to different people.

Some people assume wealth is the amount of money you have in the bank or your investment portfolio. Others judge wealth based on the number of material possessions you’re able to buy. Then there are those people who figure only those with a high enough income can be considered rich.

What constitutes a rich life really depends on your relationship with money and what matters most to you in life. There are many ways to become wealthy that don’t involve money. Being content with what you have is a sure sign you’re living a rich life.

When you’re content, a number doesn’t matter as much as your mindset.

Take this headline from this weekend’s Wall Street Journal:

Millennials haven’t always had it easy. Many had student loans, stagnating wages and a difficult job market to deal with following the 2008 financial crisis. So I get why some people are gunshy:

Many of these workers may have struggled with stagnating wages and huge student loan debts earlier in their careers. Some worry they’ll mismanage this boon and forever ruin their chance at financial stability.

“These individuals completely feel and understand and recognize the pain of the last year, but now they’re being given an opportunity to come out of that,” Mr. Vakil said. “They’re saying, ‘This is my one chance.’ They’re taking it with both hands. They don’t want to mess it up.”

Sure, you don’t want to make unnecessary mistakes but the whole point of wealth is that it’s supposed to make your life less stressful. For many it seems building wealth only intensifies their worries.

Look at this headline from MarketWatch:

This person has a net worth that puts them in the top 5% of all Americans and yet they still have trouble sleeping at night because of financial worries. Here’s the kicker:

To continue reading, please go to the original article here:

https://awealthofcommonsense.com/2021/06/if-youre-still-worried-you-arent-wealthy/