The Fake Narrative Regarding Wealth
When you hear the word ‘wealth’, what comes to your mind? Whom do you consider wealthy? And what are the factors that have determined your definition of wealth?
Lets take the case of an individual — call him Jimmy.
Jimmy has got $100K in his bank account. Jimmy works as a top investment banker in Goldman Sachs. He lives in his multi-million dollar penthouse in New York City. Jimmy can enjoy life the way he wants. He drives exotic cars, eats in the finest restaurants of NYC, and flies first class.
But lets add more details into the story.
Jimmy could not hold on to a relationship. He has got more breakups than we have got hair on our head — except for those of us who have got none. And did we mention that Jimmy is an investment banker? Well he definitely is, but the catch is that he doesn’t love his job and is in it for the money.
Jimmy works (or has to?) more than 80 hours a week. He comes home late and can’t spend much time with his family. Because of shit-ton of workload, Jimmy’s health hits rock bottom. Jimmy also got anxiety. He cannot figure out were the heck his life is going and what he can do about it.
Society’s definition of Wealth
Society defines your wealth based on the material possessions you have acquired. If you sleep on a gold plated bed, drive Lamborghinis to visit your friend next door, own a freaking private jet that is still waiting for its first takeoff ,live in a house the size of a continent, you are wealthy.
However, this definition doesn’t take into account the whether or not you could really afford to have those things in the first place — whether you rented out that Lamborghini or went broke buying the private jet — nor does it consider the relationships or even health the person had to sacrifice to get to that position. Lying half dead on the ventilator is not a good way to go even if you have $10 Billion in your bank account.
In his book, the Millionaire Fastlane, MJ Demarco introduces the idea of Wealth Trinity, which correctly defines what wealth is. In reality, wealth is not defined by material possessions.
💡 Wealth is defined not by material possessions but by the three Fs, the Wealth Trinity :
Role of Money
“So here is another preacher telling us that money doesn’t buy happiness”.
Well, it turns out I never did!
The most important part of the Trinity is the Freedom component, the amount of choices you have got. This component acts as a guardian of the other two — If you have got freedom, its manageable (though definitely not ‘easy’) to have a good relationship with your family and develop a good physique. If you are a bounded slave working your ass off in the constructions of the Great Pyramids, your are definitely not gonna do well with family and your body.
Money can get you freedom.
Hence if you use it properly, it can make you wealthy, and, as we will see, happy.
Does Wealth = Happiness?
Depends upon how you define wealth. If you have got the society’s definition of wealth into your your head, then, with the deepest regrets, I would have to inform you, that your wealth would not bring you happiness. If you have got a stock pile of money the size of the Eifel Tower, that is not gonna make you happy.
However, if you focus on having a great relationship with your family, maintaining a great body shape, and have got the freedom to live life on your own terms (which is, hopefully, guaranteed by money), then its likely that you will be happy.
Then : Wealth = Happiness
Coming to the money part :
Its not to say that if you have got no money, you cannot be happy. There are literally thousands of millionaires who are not happy, because they suck at choosing their money correctly. Collecting material possessions at the cost of the Wealth Trinity destroys happiness.
The most important lesson that is to be taken from this article is :
Do not use your money to chase material possessions. Rather use your money to gain freedom, to live life the way you want. That is what will bring you happiness.
If you don’t have money, you can still be happy, provided you do what you love to do. However you should still thrive to get more freedom. You are wealthy if you have
Thank You for reading!