What It Means To Live a Truly Rich Life and How To Achieve It
What It Means To Live a Truly Rich Life and How To Achieve It
Jaime Catmull July 1, 2021
Being “rich” means different things to different people — and it doesn’t always have to do with money. In fact, a 2018 GOBankingRates survey found that nearly half of Americans — 49% — defined being rich in a way that had nothing to do with financial wealth.
According to the survey, 30% of Americans believe that being rich means living a happy life no matter how much money you earn, and 19% define wealth as having meaningful My personal definition of living a rich life has changed and evolved over time. Now, I can’t help but think how important it is for me to know that if I lost my job tomorrow that I could still pay my bills, and to have the financial freedom to breathe.
I haven’t always had that. When I was younger, I was irresponsible with my money. Though exotic trips, expensive clothes and fancy restaurants were fun, the bills and debt they left me with were not. I thought “living richer” was all about throwing caution to the wind and not worrying if I could afford something or not. Thinking and living like that only led to extreme financial hardship, stress and unhappiness. It wasn’t until I stopped trying to look and act “rich” and comparing myself to others that I found what “Live Richer” truly means relationships with friends and family.
“Live Richer” to me is no longer searching for happiness in physical things. Instead, it’s finding it where I’m at, and ultimately within myself. It’s about putting money away for rainy days instead of worrying about your next Instagram post or having the right outfit, car or home. Saving money and budgeting isn’t always fun or sexy, but the sense of peace and worth that comes from having a savings account and a retirement plan is priceless.
Having struggles with money and not being able to buy everything I thought I wanted helped me develop my character, and be more aware and compassionate toward others and their money struggles. That’s why the “Live Richer” series and Your Money Champion column are so important to me.
Through helping people with their hardest money questions and sharing expert advice, I’ve learned that with the right planning and a little bit of discipline, it’s possible to earn more, save more and live well in every phase of life — and during the month of July, GOBankingRates will be teaching you how to do just that.
To kick off our month of living richer, I spoke to some very influential, successful people about how they define living a “rich life” — here’s what they had to say.
Barbara Corcoran: Real Estate Mogul and Business Expert
“By most people’s standards, my parents were poor. But they were never depleted, weak or needy, and cared for all 10 of us with an abundance of love. They just didn’t value money. Today people say I’m rich — flush with cash, as they say, a lucky son of a gun. But I don’t put much value on it. My real worth is the time I spend with the people I love, measured by the enduring affection my family and friends have for me over a lifetime.”
Deepak Chopra, MD: Founder of Chopra Global and The Chopra Foundation
“To live richer is to follow the inner path to wealth and abundance.”
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