How do you define "being rich"?

[fanocks2003]

This is a very important question. How do you define "being rich"?

My definition of "rich" is probably much different from yours.

My definition of many things are different from yours.

That's how we all are. That's where the problem arises. Definitions. Definitions create war, famine and opportunities.

So what I want say here is this: Sit down, take a piece of paper and a good pencil and then jot down exactly what "being rich" means to you.

Some people define "being rich" as looking rich and nothing more to it. Well, looking rich doesn't need millions of dollars. It's a cheap richness, but if that is your real definition of how being rich is all about, then chase that instead of the supposedly needed millions or billions of dollars that people say is the correct definition. You will be happier.

Some people define "being rich" as having a nice car. Well, instead of chasing all of those millions or billions of dollars. Chase enough money to pay cash for a nice car. Your dream car. No real need to chase something that has no real meaning. No real need to chase something you really do not define as being necessary to live "rich".

Listen to this: My mom's definition of "being rich" is to have nice people around here, being able to talk to her sweet little cat Rasmus and being able to enjoy here small little home. For her, she wouldn't care a bit about having millions or billions of dollars. She would be happy just to be able to earn enough to eat good, live comfortably and just enjoying here home.

See, you need to define what "being rich" means to you. Not what it means to me or any other human being out there.

Some people like Tim Ferriss, to take an example, he seems to see "being rich" as being able to travel around the world and enjoy stuff. Enjoy new food, new people and new experiences. As he himself says, you do not even need to have a million dollars in the bank to live like that. You do not even have to be a wealthy man in terms of cash or assets.

Why do you have to do this definition stuff? To save yourself time. Don't chase something you do not really see as "richness". You will feel better. Many times I have chased things I didn't want and just because others wanted me to, or expected me to do it. That's a totally wacked thinking. If you want to be of any value to yourself foremost and to others second, you need to become good at defining what really matters to you.

 

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[TaxGuy]

Great post fanocks and rep+ :smxB:

As always your posts make us think in a different way(read: fastlane) and in my .02 being rich is along the lines of the Tim Ferriss "model", ironically it does lead to some animousity with my peers, friends and family as it sometimes seems that I am preaching to the choir or they think when I speak of "fastlane" I'm talking about net worth, possessions and other monetary measures of "wealth".

I guess a lesson I can learn from Ferriss is how to "simplify" my message, while it was very easy for me to get hooked on the fastlane, being an "evangelist" of the fastlane message/lifestyle has become one of my passions as I hate seeing so many people slave away chasing the carrot of "retirement" when you can live richly without all the money. To quote the movie A Bronx Tale(one of my favorites), "the greatest tragedy is wasted talent" and I see it all around me, even in myself, when I'm not focussing towards what I SHOULD be doing, namely finding what I am most talented at and motivated to accomplish in making the world a better place and instead I find myself more fixated on what I HAVE to do such as work to pay bills, live a "middle class" lifestyle, etc.

Basically, my definition of rich is as mentioned above- finding what YOU are most talented at and motivated to accomplish in making the world a better place. All the while enjoying your life through all the ups and downs.

Of course the bonuses IMO are the exotic cars, vacations, motorcycles, bicycles and having fancy toys, but I guess when it comes down to it, do I really need these things to make me happy or are they just the motivations to stay active and keep an active mind as they also say "idle hands are the devil's workshop" :smxB:

 

[MJ DeMarco]

While everyone has varying definitions of rich, I think the common denominator in ALL definitions is FREEDOM. Since the dawn of mankind, freedom seems to be the prevailing commodity sought -- even before money was invented.

 

[AroundTheWorld]

I guess it depends upon my frame of mind.... my mood, per se.

Rich is.....

• Abundance. An abundance of things that bring me joy. An abundance of money, freedom, energy, health, love, family.
• Emptiness. Because in emptiness I can appreciate beauty.
• Time. Without the time, the money doesn't mean anything.
• Energy. Without energy, the money and the time don't mean anything.
• Gratitude. Because with money and no gratitude, you will still just be a grumpy son of a bitch.
• Knowing this Moment. Because eventually we will all figure out that you never really reach your destination. Once you get there you will realize that either the destination has changed, or it isn't at all what you thought it would be. Then, you realize that all you ever really have is this very moment. If you don't throw that away, you are very rich indeed.

 

[Russ H]

Emptiness. Because in emptiness I can appreciate beauty.

Aha! This would explain why I do not appreciate our basement.

-Russ H.

 

[EasyMoney_in_NC]

I guess it depends upon my frame of mind.... my mood, per se.

Rich is.....

• Abundance. An abundance of things that bring me joy. An abundance of money, freedom, energy, health, love, family.
• Emptiness. Because in emptiness I can appreciate beauty.
• Time. Without the time, the money doesn't mean anything.
• Energy. Without energy, the money and the time don't mean anything.
• Gratitude. Because with money and no gratitude, you will still just be a grumpy son of a bitch.
• Knowing this Moment. Because eventually we will all figure out that you never really reach your destination. Once you get there you will realize that either the destination has changed, or it isn't at all what you thought it would be. Then, you realize that all you ever really have is this very moment. If you don't throw that away, you are very rich indeed.

I think rich is the happy medium balance of all these ^^^^^ bullet points. When you've struck a balance...........you're loaded!

 

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[Anon3587x]

My definition of being rich?

I would not consider myself rich until I have a house by a lake with at least 10 acres in a real forestry area. My own dock with a boat & 2-3 jet ski's.

Few horses.
I want 2 100% wolves, 1 Grey Wolf, 1 Arctic Wolf.

I want a recording studio inside my house which will have 4-5 bedrooms, a huge living room and has to be 2 stories. I want a bar inside my house which is always full.

I want 2 or 3 refrigerators PACKED with food at all times.

And last and for all, the ability to travel anywhere in the world at the drop of a hat.

Now I do not care how much money I have, so as long as I have all of the above I am extremely happy, .

Those are things I really want, the process of making money is a long tiring road. There is nothing wrong with being a tad materialistic after all the work you put in.

 

[Pinnacle]

Anyone who has visited my signature link knows that the name of the book that I've written is called Rich On Your Own Terms.

The point of "being rich" is that you are the one who gets to define the expectations, the definition, and the outcome.

Like MJ said, it is about freedom. You are spending your life (or an aspect of your life) in your own way without interference from others and at no expense to others. That's what being rich is.

 

[Anon3587x]

Anyone who has visited my signature link knows that the name of the book that I've written is called Rich On Your Own Terms.

The point of "being rich" is that you are the one who gets to define the expectations, the definition, and the outcome.

Like MJ said, it is about freedom. You are spending your life (or an aspect of your life) in your own way without interference from others and at no expense to others. That's what being rich is.

Nice, my definition fell into those guidelines pretty well.

When two strangers reach the same common solution, it is safe to assume you are not to far off from the correct answer

 

[Rickson9]

For myself, my definition of 'rich' doesn't involve material items. If I am healthy and happy, then I consider myself 'rich'. Thankfully, I am both at the moment.

 

[Anon3587x]

I want to elaborate a little on my definition of "rich"

Felix Dennis said if he could do it all over again he would make 60 million - 100 million as fast as he could and then retire to just enjoy life.

That is very wise advice.

Get in, and get out. . .

Lately I have been wondering if money making is a disease or a personality disorder, much like a addiction.

Why would somebody like Warren Buffet need 50 billion+ dollars or whatever it is he has? He has lived in the same house for 30 years or so. He apparently does not make money to buy things.

If I ever was in a position where I had 100million dollars I would lack any drive to make more money.
What is the point? I could have anything I ever dreamed off and then some. I would have to be addicted in acquiring money to continue making it.
Maybe boredom would take over and I'd look for a new challenge.
Who knows for sure at this point.

I've read many success stories about GENIUS entrepreneurs who made 5 million, 10 million and so on just to disappear and you never hear from them again.
They could of done great, great things.

Making money brings enjoyment but you miss out on life doing so.

Make a huge sum as fast as you can, and get out.
That is what I say.

 

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[Anon3587x]

For myself, my definition of 'rich' doesn't involve material items. If I am healthy and happy, then I consider myself 'rich'. Thankfully, I am both at the moment.

I used to feel passionate about that definition.
But making money is so much work!

I have my health, happiness is nothing but a chosen emotion in my opinion. You choose to be happy or sad. So I choose to be happy regardless of any situation.

So after working my a$$ off I want some materialistic things to show for it.
Materialistic things are trophy's you get for completing the challenge.

If I want them I must fight through and conquer the challenge to get the first place trophy.

It was either a poor or stupid man who said money can't buy happiness.

Maybe it was someone unwilling to accept and beat the challenge.

I'd sleep in the snow for a week with no shirt for 1,000 dollars.
As opposed to sleeping in a cabin by a fire for 75 dollars.

I'll face any challenge with a evil smile.
Not many people share my insanity

This is why not many people will achieve what I'm scheming to achieve.

 

[Rickson9]

I used to feel passionate about that definition.
But making money is so much work!

I have my health, happiness is nothing but a chosen emotion in my opinion. You choose to be happy or sad. So I choose to be happy regardless of any situation.

So after working my a$$ off I want some materialistic things to show for it.
Materialistic things are trophy's you get for completing the challenge.

If I want them I must fight through and conquer the challenge to get the first place trophy.

It was either a poor or stupid man who said money can't buy happiness.

Maybe it was someone unwilling to accept and beat the challenge.

I'd sleep in the snow for a week with no shirt for 1,000 dollars.
As opposed to sleeping in a cabin by a fire for 75 dollars.

I'll face any challenge with a evil smile.
Not many people share my insanity

This is why not many people will achieve what I'm scheming to achieve.

I understand what you are saying.

For better or worse, money comes relatively easy for me and material items haven't really been interesting to me nor do they result in any form of additional happiness.

Anyway, only speaking for myself...

 

[Anon3587x]

I understand what you are saying.

For better or worse, money comes relatively easy for me and material items haven't really been interesting to me nor do they result in any form of additional happiness.

Anyway, only speaking for myself...

Maybe my ideology will change when I start acquiring a few more things. As of right now I have a goal and I'm preparing to pursue it like a maniac

 

[Irish]

This has actually made me think about some stuff. I don't know if this makes sense to some people on here but it's something I do. Now I am by no means wealthy. I am however rich, in terms of health, relationships and quality of life. I'm a student. However, it is normal for me to have about 1000 eur in my account. I feel comfortable with it sitting there and I would generally be a frugal person. Recently I have much less in my account, maybe 200 because of unforseen expenses.

The thing is, I don't really feel any different with either amounts of money in my account. I wouldn't really spend more. I don't splurge much, hardly ever. I wouldn't spend the 1000 on myself, I'd feel guilty. I would feel like somebody might need a loan or something could come up.

Things that do make me feel "rich" would be a nice haircut, suit, eating at a restaurant and for some reason, brand new trainers lol. Looking and feeling "fresh" if you know what I mean.

The thing is though, if I added up the things I mentioned above they really don't cost a whole lot. What I should do is write down the exact amount each, add it up and work to that figure.

I think personally I need to start reassesing the value of purchasing. Here's an example, I would think nothing of going to watch a match at the weekend with my friends in the pub and spending, 40 to 60 eur. Or taking my girlfriend out for a fancy meal. However if I was out shopping and saw a nice shirt for 40 euro I probably wouldn't buy it, even though I really liked it. I'd be thinking, it's not worth it.

But really I guess what i'd be saying is 'I'm not worth it'. Thanks for the post, made me realize changes I need to make in my life.

 

[MJ DeMarco]

Felix Dennis said if he could do it all over again he would make 60 million - 100 million as fast as he could and then retire to just enjoy life.

Bingo!!!

I've read many success stories about GENIUS entrepreneurs who made 5 million, 10 million and so on just to disappear and you never hear from them again.

This would have been my path if it weren't for my book ... in fact, this disposition might serve to be a hindrance in terms of building my own credibility since technically, I live as retired guy and not as a fully engaged Fastlane entrepreneur.

 

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