How Much Wealth is Enough Wealth? A New Take on the Oldest Question
Hello Friends,
Last night I lay in bed thinking about buying Twitter, I mean sure, if Elion could do that, I sure could. But sure, Elion has money, but money and wealth are they the same? To be wealthy or rich...
The first written record of the question, "How much money do I need?" appears in the Old Testament (*I think). While it's not known who wrote it, the Gospels of Matthew and Luke are pretty confident that the person asking is you. Because if you're asking yourself this question, you're probably not very happy with your financial situation. Not even close.
And if you're reading this article, you're probably not happy with your current wealth situation either (*Or you are just curious about what ramblings I will talk about today).
Anyway, the Old Testament book of Ecclesiastes (*Again, I think...) has a very pointed response to this question. When you're going through hard times, it says, you shouldn't let that lead you to look at other people's prosperity. Because then you'll only start worrying about how much money other people have and not about your own security.
Enough wealth. That's an old Southerners' word for it. It means ignoring the external trappings of wealth and focusing on what's important to you.
So, let's take a look at the meaning behind this phrase, and whether it's the right way to think about getting rich.
What's the meaning behind "Enough" wealth?
The phrase "Enough" wealth comes from the old English language and is a portmanteau of two words: "eng" and "uff."
The first meaning is the strangeness or extreme weirdness of something, and it's perhaps where most people would start to look for it. Eng is a Northumbrian word that means "to enclose" and is related to words like "end," "extend," and "circumscribe."
So, it's related to the word "end" when we're trying to figure out the meaning of "enough." The second meaning of "enough" is a or chaos. The Oxford English Dictionary writes, "Enough was a word used in the North Country to denote the state of being at a loss for words."
So, the meaning behind "Enough" wealth is that you don't have to worry about how much money others have. You should only worry about how much money you have and how best to use it.
What is money and is that wealth?
The first and most important thing to realize about wealth is that it's not the same thing as money. The two terms are often used interchangeably, but they actually mean two different things.
Money is only one type of wealth. Some people might argue that it's the most important type, because it's the medium through which other types of wealth are obtained.
However, money isn't the only way to get things.
So, what is wealth? There are a few different ways to look at it. It could be a more general concept. For example, it can mean any valuable resource that improves your well-being, such as time, health, or social connections. It can also be your net worth, which is your total assets minus your total liabilities.
How to get rich: a new take on an old mindset
The idea of wealth changing hands, whether through inheritance or through hard work, is a fundamental part of the human psyche.
When we think about getting rich, most of us probably don't think of new ideas. We're probably thinking about following one of the many get rich quick schemes out there.
Though there are many ways to get rich, most people think there are only a few. The mindset that there are only a few ways to get rich is what keeps people from becoming rich.
The truth is, there are many ways to get rich, and anyone can become rich if they have the right mindset. If you want to become rich, you need to think differently than the majority of people. You need to be open to new opportunities and willing to take risks. You also need to be disciplined and patient. The path to riches is not always easy, but it is possible for anyone to achieve it if they have the right mindset.
Now, re-read that paragraph and replace 'rich' with 'wealthy', and define wealth as the concept of what is 'Enough' for you.
Is Enough wealth really the answer to your wealth goals?
The short answer is yes and no. Yes, you can still use this old Southerners phrase as a way to make wealth more about what's important to you rather than what's on other people's balance sheets.
The problem is that the idea of wealth itself is changing. New technologies and social phenomena are challenging what we think of as wealth. Wealth used to be something tangible that could be counted and measured. This included things like houses and businesses; now, it also includes intangible things like relationships, time, and reputation.
The intangible nature of wealth makes it difficult to measure and, therefore, calculate. It can be complicated, and there's no single formula for getting rich. This complexity also makes it difficult to predict how much wealth you'll have at a particular point in time. And it's hard to predict how much wealth will be acceptable to you.
Is Enough wealth really the answer to your wealth goals? It's a valid question, and one that deserves some honest reflection. For some people, amassing a large fortune may be the key to financial security. But for others, it may be a source of anxiety and stress. So, is enough wealth really the answer to your wealth goals? It depends on what your goals are. If your goal is to simply have enough money to live comfortably, then you may not need to become a millionaire. But if your goal is to attain financial freedom, then you'll need to have a more robust savings and investment plan. Ultimately, the answer to this question is personal and unique to each individual.
Summary
The answer to the question "How much wealth is enough wealth?" is a matter of perspective. For some, enough wealth is never having to worry about money again. For others, it's being able to live a comfortable life without ever needing to think about money. And for others still, it's simply having more money than they could ever possibly spend. No matter what your perspective is, there's no wrong answer to the question. It's all about what you think is enough for you.
So with that said ...
- What is wealth for you?
- How much do you need?
- Do you think you are wealthy now?
Cheers and thank you for reading!
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People do mistake this two as the same which is not so but with your explanation on this I believe it will be helpful to differentiate the two words.
Yes, its easy to cobind the two, but to realize that money is only a path you can take to wealth, and money is not wealth. Dropping you some hot !PIZZA and !LUV on this post!
I usually hear some people say "how is it better to put up with your luck crying in a Lamborghini, than barefoot on the street", personal statement is that if you lower the cost of your needs you become richer at the same time. Now to what extent is it a personal choice of everyone. On the other hand, I do not want to demonize the effort to be productive and productive, so in order to complete my attitude towards wealth, it is better to be rich by your own effort, than to find yourself accidentally (parent to child). And this is because money is like pounds, if you take it fast and easily you will lose it faster than if you took it out slowly.
ah nice insight to this topic.
Yes, if money comes to easy to you, you will lose it.
But to be 'wealth' and to be 'rich' are different things... same in some ways, but also different.... but as you said 'crying in a Lamborghini, than barefoot on the street', yes that is a very valid point. :D
Dropping you some hot !PIZZA and !LUV on this post!
Thanks, really appreciate your support. Beside (pizza and luv), your postings is amazing. We will be in touch in comments 😉
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