You’ve done it. You’ve decided to embark on this journey with me, and you’ve made the decision that you want to be rich, richer than you’ve ever been.
That’s all well and good…but then, I can bet that you probably meant monetarily rich, as in, your goal is more money in the bank. That’s an incomplete definition of ‘rich’ in my opinion.
The problem is, few of us take the time to step back and really think about what we want.
What exactly is a ‘Rich’ life? After all, one can be rich (or poor) in so many different ways. You could have plenty of money in the bank, own fancy cars and houses, and still be miserable, with no friends, few meaningful relationships, and a job you hate going to.
On the flipside, you could love what you do, have a great group of friends, have a great relationship with your family, maybe even have a significant other, but have nothing in the bank…and that’s the source of your stress and anxiety.
Both of these are extreme examples, and most of us fall in the middle of the spectrum…but you catch my drift. To me, by either definition, you are a poor person.
After all, isn’t life all about balance?
According to the Passive Finance Philosophy: a rich life is a life filled with freedom and abundance. It’s a life where we:
1. don’t feel constrained or trapped by dogma, defining what we “need to” or “should” do (and that includes not having to go to a job we hate going to)
2. have the resources (time, relationships, money) to pursue our goals, fulfil our dreams, and cross things off our bucket list.
It’s a life where money is but a means to an end, the end being freedom to do the things we want to do, when we want to do them, and with the people we want to do them with.
Don’t take this the wrong way – I love money. I mean, this is a blog about money, but at the same time, it’s not just a blog about money. Financial freedom enables real freedom, which to me is the option to spend the limited time I have on this planet the way I want to.
Also, there’s a strong correlation between wealth and happiness. Rich people tend to be happier than poor people, rich nations tend to be happier than poor nations.
Before you embark on this fun and ambitious journey with me, (because if it’s not ambitious, where’s the fun in that, right?), it’s important that you set your sights on the prize…time.
Money can always be earned, time can’t.
As passive-financiers, we strive to stop trading time for money, and that’s why we want to become financially free…NOT because we want to hoard a mountain of cash and sit on it (though, that would be nice too 🙂
What are your thoughts about money and it’s relation to leading a rich life? Let me know in the comments.