You Are So Rich

People are complicated & so is our relationship with money & happiness.

The other day I published a poll on LinkedIn on โ€˜What is your net worth right now?โ€™

๐Ÿฐ๐Ÿฌ% ๐—ผ๐—ณ ๐—ฟ๐—ฒ๐˜€๐—ฝ๐—ผ๐—ป๐—ฑ๐—ฒ๐—ป๐˜๐˜€ ๐—ต๐—ฎ๐—ฑ ๐—ป๐—ผ ๐—ถ๐—ฑ๐—ฒ๐—ฎ.

Hmm, interesting.


Let me ask you a few questions:

๐™Œ1: ๐™ƒ๐™ค๐™ฌ ๐™ข๐™ช๐™˜๐™ ๐™ข๐™ค๐™ฃ๐™š๐™ฎ ๐™ž๐™จ ๐™š๐™ฃ๐™ค๐™ช๐™œ๐™?
Most people probably donโ€™t know how much money it will take to make themself feel happy when it comes to income or net worth.

You know your enough, right?

be frugal - Dagobert inspects money


๐™Œ2: ๐™„๐™› ๐™ข๐™ค๐™ฃ๐™š๐™ฎ ๐™˜๐™ค๐™ช๐™ก๐™™ ๐™ฉ๐™–๐™ก๐™  โ€ฆ ๐™ฌ๐™๐™–๐™ฉ ๐™ฌ๐™ค๐™ช๐™ก๐™™ ๐™ž๐™ฉ ๐™จ๐™–๐™ฎ ๐™–๐™—๐™ค๐™ช๐™ฉ ๐™ฎ๐™ค๐™ช?
Your emotional makeup will have a lot to say about how you feel about money & how money will impact your happiness.


๐™Œ3: ๐™ƒ๐™ค๐™ฌ ๐™™๐™ค ๐™”๐™Š๐™ ๐™™๐™š๐™›๐™ž๐™ฃ๐™š ๐™ง๐™ž๐™˜๐™?
Defining โ€œrichโ€ is a tricky situation. Is it a high income? The amount of money you spend? Your net worth? How money makes you feel? All of these things?



๐™Œ4: ๐™ƒ๐™ค๐™ฌ ๐™ข๐™–๐™ฃ๐™ฎ ๐™ข๐™ž๐™ก๐™ก๐™ž๐™ค๐™ฃ๐™–๐™ž๐™ง๐™š๐™จ ๐™–๐™ง๐™š ๐™ฉ๐™๐™š๐™ง๐™š ๐™ž๐™ฃ ๐™ฉ๐™๐™š ๐™ฌ๐™ค๐™ง๐™ก๐™™?
Exhibit A: Credit Suisse Global Wealth Report tallies up the numbers.
Out of a population of 8.0 billion people, just 62.4 million are millionaires. Thatโ€™s 0.8% of the population.

Exhibit B: Try this calculator & realize how rich you are.

A yearly income of 70,000 SGD puts you in the 1% of the GLOBAL population.

Not that much, right?

Lesson learned: DON’T compare yourself to that presumably rich Lees next door!
DO compare yourself to Mr. Global-Average instead.

People in Singapore (where most of my readers are based) may not realize how good we have it.



๐™Œ5: ๐˜พ๐™ค๐™ช๐™ก๐™™ ๐™ž๐™ฉ ๐™—๐™š ๐™ฉ๐™๐™–๐™ฉ ๐™ฎ๐™ค๐™ช ๐™™๐™ค๐™ฃโ€™๐™ฉ ๐™›๐™š๐™š๐™ก ๐™ง๐™ž๐™˜๐™ ๐™—๐™š๐™˜๐™–๐™ช๐™จ๐™š ๐™ฎ๐™ค๐™ช ๐™–๐™ง๐™š ๐™ฎ๐™ค๐™ช๐™ฃ๐™œ & ๐™™๐™ค๐™ฃโ€™๐™ฉ ๐™๐™–๐™ซ๐™š ๐™ข๐™ช๐™˜๐™ ๐™ž๐™ฃ ๐™ฎ๐™ค๐™ช๐™ง ๐™—๐™–๐™ฃ๐™  ๐™–๐™˜๐™˜๐™ค๐™ช๐™ฃ๐™ฉ?
You are already rich on account of your long time horizon.

But if you canโ€™t begin to take advantage of that potential, then isnโ€™t your youth a stranded, wasting, & illiquid asset?

The difference that spending $100 a month less on clothes during your twenties & investing it instead will make to your future is incredible.



๐™Œ6: ๐™ˆ๐™ž๐™œ๐™๐™ฉ โ€˜๐™—๐™š๐™ž๐™ฃ๐™œ ๐™ง๐™ž๐™˜๐™โ€™ ๐™—๐™š ๐™Ÿ๐™ช๐™จ๐™ฉ ๐™– ๐™›๐™š๐™š๐™ก๐™ž๐™ฃ๐™œ?
Your personal preferences & internal wiring will have a bigger impact on your relationship with money & happiness than some number.

Who says that the yardstick for ‘rich’ is money anyway?

Now, do you agree that you are SO rich?

But if you spend an inordinate amount of time worrying about money, you arenโ€™t rich!


I am sure you have something to say about this emotional topic.

Share in the comments below

โ€œYou have everything you need for complete peace and total happiness right now.โ€ โ€“ Wayne Dyer

“I have enough money to last me the rest of my life …. unless I buy something.” – Jackie Mason

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