People are complicated & so is our relationship with money & happiness.
The other day I published a poll on LinkedIn on โWhat is your net worth right now?โ
๐ฐ๐ฌ% ๐ผ๐ณ ๐ฟ๐ฒ๐๐ฝ๐ผ๐ป๐ฑ๐ฒ๐ป๐๐ ๐ต๐ฎ๐ฑ ๐ป๐ผ ๐ถ๐ฑ๐ฒ๐ฎ.
Hmm, interesting.
Let me ask you a few questions:
๐1: ๐๐ค๐ฌ ๐ข๐ช๐๐ ๐ข๐ค๐ฃ๐๐ฎ ๐๐จ ๐๐ฃ๐ค๐ช๐๐?
Most people probably donโt 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?
๐2: ๐๐ ๐ข๐ค๐ฃ๐๐ฎ ๐๐ค๐ช๐ก๐ ๐ฉ๐๐ก๐ โฆ ๐ฌ๐๐๐ฉ ๐ฌ๐ค๐ช๐ก๐ ๐๐ฉ ๐จ๐๐ฎ ๐๐๐ค๐ช๐ฉ ๐ฎ๐ค๐ช?
Your emotional makeup will have a lot to say about how you feel about money & how money will impact your happiness.
๐3: ๐๐ค๐ฌ ๐๐ค ๐๐๐ ๐๐๐๐๐ฃ๐ ๐ง๐๐๐?
Defining โrichโ 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?
๐4: ๐๐ค๐ฌ ๐ข๐๐ฃ๐ฎ ๐ข๐๐ก๐ก๐๐ค๐ฃ๐๐๐ง๐๐จ ๐๐ง๐ ๐ฉ๐๐๐ง๐ ๐๐ฃ ๐ฉ๐๐ ๐ฌ๐ค๐ง๐ก๐?
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. Thatโs 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.
๐5: ๐พ๐ค๐ช๐ก๐ ๐๐ฉ ๐๐ ๐ฉ๐๐๐ฉ ๐ฎ๐ค๐ช ๐๐ค๐ฃโ๐ฉ ๐๐๐๐ก ๐ง๐๐๐ ๐๐๐๐๐ช๐จ๐ ๐ฎ๐ค๐ช ๐๐ง๐ ๐ฎ๐ค๐ช๐ฃ๐ & ๐๐ค๐ฃโ๐ฉ ๐๐๐ซ๐ ๐ข๐ช๐๐ ๐๐ฃ ๐ฎ๐ค๐ช๐ง ๐๐๐ฃ๐ ๐๐๐๐ค๐ช๐ฃ๐ฉ?
You are already rich on account of your long time horizon.
But if you canโt begin to take advantage of that potential, then isnโt 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.
๐6: ๐๐๐๐๐ฉ โ๐๐๐๐ฃ๐ ๐ง๐๐๐โ ๐๐ ๐๐ช๐จ๐ฉ ๐ ๐๐๐๐ก๐๐ฃ๐?
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 arenโt rich!
I am sure you have something to say about this emotional topic.
Share in the comments below
โYou 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