Wealth - more than just money and things

“Another crucial aspect of wealth is having a sense of security. This can be achieved through financial planning, insurance, and savings. ”

When we think of wealth, the first thing that comes to mind is often money and material possessions. However, true wealth involves much more than just accumulating money. Wealth can be defined as an abundance of valuable resources, including good health, strong relationships, a sense of security, and a purposeful life. This understanding of wealth requires a mindset that prioritises personal and financial freedom and security, and encompasses non-material aspects that contribute to overall well-being.

Research has shown that people who prioritise non-material aspects of wealth tend to be happier and more fulfilled than those who focus solely on material possessions. Good health is an invaluable asset that is often taken for granted. Without good health, it becomes difficult to enjoy life, pursue our dreams, and maintain strong relationships with loved ones. Therefore, investing in our health is a crucial aspect of our overall wealth. This includes eating a healthy diet, exercising regularly, and seeking medical care when necessary.

Strong relationships also play a critical role in our well-being. Healthy relationships provide us with emotional support, a sense of belonging, and a network of people to turn to in times of need. Building and maintaining meaningful relationships takes effort and time, but it's a worthy investment in our wealth and happiness. This involves spending time with loved ones, being a good listener, and showing appreciation and gratitude for those around us.

Another crucial aspect of wealth is having a sense of security. This can be achieved through financial planning, insurance, and savings. When we feel secure, we're better able to take risks and pursue our goals with confidence. This involves setting financial goals, creating a budget, and investing in appreciating assets that generate passive income over time.

Finally, wealth can also be achieved through finding purpose and meaning in life. Having a sense of purpose gives us direction, motivation, and a reason to get up in the morning. It could be anything from pursuing a passion, volunteering for a cause, or building a career that aligns with our values. This involves taking the time to reflect on our values and priorities, setting goals that align with them, and taking steps to achieve them.

Building true wealth requires a mindset that prioritizes personal and financial freedom and security, and encompasses non-material aspects that contribute to overall well-being. It involves living below our means, investing in appreciating assets, setting clear financial goals, and prioritising experiences and relationships over material possessions. By adopting these principles and priorities, anyone can achieve true wealth and financial freedom.

Disclaimer

Bradley Nuttall Otago Limited believes the information in this article is correct, and it has reasonable grounds for any opinion or recommendation found within this article on the date of publication. However, no liability is accepted for any loss or damage incurred by any person as a result of any error in any information, opinion or recommendation in this article.

Nothing in this article is, or should be taken as, an offer, invitation or recommendation to buy, sell or retain any investment in or make any deposit with any person.

The information contained in this article is general in nature. It may not be relevant to individual circumstances. Before making any investment, insurance or other financial decisions, you should consult a professional financial adviser.

This article is for the use of persons in New Zealand only.

The views and opinions expressed in this article are those of the author and are not necessarily those of Bradley Nuttall Otago Limited