what is "wealth"?

Saw this over at the business insider, struck a cord, how do you define “wealth”?

“So here it is, my definition of wealthy: If you have enough assets plus passive income to cover your personal lifestyle expenses for the rest of your life, and that money allows you to work at something you love – without concern for the amount of compensation – then you are wealthy.”

Read more: http://www.bankers-anonymous.com/blog/what-is-wealthy/#ixzz2IMPVILpl

Certainly not in monetary terms.

Wealth and wealthy are two different things. Although I’d submit that most people who don’t think they are wealthy, really are.

Wealth to me is value. Everyone has some of it. It may be a person, a skill, a talent, a thing, a technology, a service, etc.

I definitely agree that your philosophical approach makes the definition akin to ‘happiness,’ which I think is a good way to look at it. Happiness definitely has a lot to do with attitude and a decision to be content. I personally love design and awesome stuff, but I don’t know if they make me ‘happy’ per se. I’d say they give me pleasure, which I think is something different. However, I would say that design, or the process of creation, makes me truly happy.

This is something I have figured out lately for myself. Something that’s been missing.

It’s kind of like Hugh McLeod’s S3x & Cash Theory: Culture Science© Consulting | Culture Drives Performance - Gapingvoid

Ok, (in my walter bishop voice) what makes me happy is bright shinny object that dance and sing . That and pudding pops. :laughing:

Seems we’re not the only ones pondering this today:

Wealth is accumulated social power.

For me, simply put, wealth is being able to do what I feel I need/want to do with a minimum of fuss. So, in that definition, limiting and eliminating needs/wants increases wealth as much as increasing earnings and position does.

Having a saturated amount of an object or feeling that leads you to feel satisfied and accomplished. This will very from person to person. For some money, for others love. But so long as that person has a sense that their comforted desires are overflowing than they are indeed a wealthy person.

I’ve always considered wealth to be a generic term for excess…ie, having more of any given thing than what is needed to comfortably subsist in your culture/society.

Wealth and asset can be used interchangeably, atmo.

Wealthy is a highly subjective term. For me, its $300MM in assets and $30MM annual income. Someone in China, for example, may think otherwise.

Not that subjective.

Your income in a global context? Try this: http://globalrichlist.com

Wealth = 3 F’s


I guess money could only come into the freedom part, the freedom to do as you please when you please.

It’s absolutely subjective…especially in context to the link you provide. The “global rich list” is motivated solely to try and make me feel guilty for being where I am at in the world and “donating” my “excess” money to causes that they feel are worthy of my “donations”.

I see nothing objective about that link at all aside from placing a ranking on where I MAY stand in relation to the rest of the population when it comes to my annual salary.

Totally agree.

I can even make the case that Bill Gates is NOT wealthy. I’ll wager any amount that the Bill and Melinda Gates Foundation does not have enough wealth to fulfill everything they would want to do with the foundation. And since it is Bill’s goal to give all of his wealth to the foundation and it’s still not enough, he would not be wealthy.

I’ll wager any amount that the Bill and Melinda Gates Foundation does not have enough wealth to fulfill everything they would want to do with the foundation.

[u]Wealth[/u], Andrew Carnegie, North American Review, 1889.

Wealth is having good health,peace of mind,having control on mind.

Wealth = absence of need or want

For the individual, ‘personal’ value system plays a role

Good question. I’m an industrial designer with about 13 years of experience now. 35 years old. Pretty darn close to midlife crisis. I’ve already suffered through 4 years of being an entrepreneur. I’ve already done freelance full-time. And I’ve worked for design houses and manufacturers. For the most part, I’ve been there.

Now, that said, wealth…as my wife says, ‘health is wealth.’ The more I think about it, the more I find it to be true. Since starting Cerevellum (the company I formed to take my idea of a digital bicycle mirror to production,) I’ve suffered all kinds of health issues, from mental to physical. When I first formed Cerevellum (back in early 2009), I was just retiring from a pretty successful bicycle-racing career. I was an amateur but had to race against the pro’s. I had achieved all that I was really able to achieve in the sport without looking towards other means, or quitting my day-job. I hung up my racing wheels and put everything into this new business venture. Once I returned from the 2010 Taipei Bike Show, I found myself with multiple pulmonary embolisms. This landed me in the ER for a while as it’s very serious. Come to find out I have a rare blood condition that causes clots and now have to get my blood checked nearly every week. Yeah, it sucks.

To be honest, I completely let my body go once I quit racing and started Cerevellum. I was sitting at about 139 lbs (5’10") when I ‘retired’ and got up to 205 lbs at one point. I hated myself.

Now, fast-forward to the present. While I’m still rather heavy, I’m riding again but only because I want to. I actually enjoy the challenge. Not only do I exercise now for the general benefits, but I kind of have to in order to keep my blood from clotting, among other things. It releases endorphines and that helps with my mental well-being as well.

So, with all that said, health really is wealth. Don’t go down the direction I did and focus entirely on your career. Just don’t. When you can, do some side projects here and there. Maybe enter a couple competitions. But trust me on this, value friendships, your family and your health. I’ve lost nearly everything (both parents, friends, health) in the last 4 years. In the end, those are the things that matter the most.

Wealth = absence of needs, I agree.

Wants may pop up all the time though through that little voice :slight_smile: but you don’t really need what you want most of the time.

It seems to me that in human beings needs to evolve through Maslow’s hierarchy, as people keep searching on and on for the big ‘what’s out there’. At some point you go more towards what’s ‘in here’ though, and when I went there some years ago I found a new definition of wealth: the more you can identify with existence, the more wealthy you are. In the beginning, you have no idea what you are, you have no idea what’s going on and what this body is that you don’t yet master. Then you master the body and at some point look into the mirror and proudly state ‘it’s me!’ And others will probably support this recognition. Congratulations, a huge revelation, and you now become a little person. Then you act as a little individual, a little brat trying to get his tummy filled. So you have identified with the body and later with a mental personality. You might get a nickname. Then you learn the value of cooperation and learn that you are not isolated but inextricably interwoven with a group of people. They can work together to make things happen and you come to see the whole of this social organism. You forget about the individual and now identify with the group. You learn about the intellect, and practical ways to get things done, skills. Then you learn that there are other groups and really it’s one big family. You learn about the emotional realm, and see the ‘soul’ in people. We are one brother and sisterhood, and you come to identify with the whole of humanity. And later you can come to identify with the whole of nature and yes even the whole of existence, where there are no more boundaries left.

That’s enough for a forum post I think, I got a lot from Ken Wilber on these things too.