How Do You Define Wealth?

When I talk to business owners and families, one to the most interesting experiences for me is when I ask them "How do you define wealth?". What comes to your mind? The answer to this simple question varies from “Wealth is an illusion", "Wealth is the root of all evil", "Wealth is hard to achieve" to "Wealth is fun and achievable". The answer is conditioned on our beliefs and experiences.

One that tends to strike me the most is the misunderstanding that "money is the root of all evil". Many people, including Christians, believe that bible says that money is the root of all evil. However, this is perhaps the most misquoted verse of the bible ever. The Bible actually says, “The love (or worship) of money is the root of all evil.” (1 Timothy, 6:10). Huge difference!

The way you answer this simple question is paramount to your goal of achieving wealth in your life. Many times you hear people saying that they want to become wealthy, but they define wealth as something that is bad/evil/painful. Others define wealth as being rich, were the focus is the amount of money that is accumulated without regards to other aspects of life or methods used to achieve it.

What are your beliefs about wealth? What about wealthy people? Are they just like you and I? Or, is wealth reserved for other "Special people"? For example, did you receive messages growing up, like many of us during our childhood, that rich people were those “other people” and not like us or our friends. Or did you have wealthy friends and family in your life? T. Harv Eker in his book "Secrets of the Millionaire Mind" he points out, we are all living out our parents wealth blueprint or script, until we have actively done something to change it. We inherit from our parents their good qualities as well as the bad. Many will acquire their “laissez faire” attitude about credit cards and their philosophy of “spend now, worry later”.

Until you decide to take charge of your finances and challenge your beliefs about money and wealth, you will simply be carrying on what you learned growing up. You will be living your parent’s wealth script, which may not be a good idea. The sad thing is, they were doing the same thing their parents did and so on and your future generations will be doing the same thing.

Early money experiences set the stage for your current beliefs about the subject of wealth and how it relates to you. If you want to achieve wealth, you have to begin creating positive associations around the idea. You need to begin seeing yourself as “one of those wealthy people” BEFORE you can become one. The secrets of achieving anything in life is:

1. Be - See yourself being that person.

2. Do - Do the things that person would do.

3. Have - As you get comfortable being the wealthy person and doing what wealthy people do, then you will have wealth.

However, most people get it backwards. They think after I have money, then I’ll do good things and I’ll be the kind of person I want to be. It does not work that way. Remember, first be, then do, you will then have.

Share with me, your views on wealth. How would you answer this question?