Here is an interesting fact from Entrepreneur Daily relative to riches:
Valedictorians rarely become rich and famous. In fact, the average millionaire’s college GPA is 2.9.
When asked what it means to be “rich,” what is your answer?
Believe it or not, there is quite a consensus on this in concept. And there is even consistency in how much it takes to be rich.
What most people believe that it takes to be “rich” is about 100 times what a person has made in the last year. So someone making $100K per year would take $10M to make them rich. Most people would buy material things with their “riches” and only 1 in 10 mentioned investing. Although several mentioned paying off all existing debt. Lots of ridiculously expensive cars were mentioned as were new houses. Only a few said they would quit their jobs. Most simply would upgrade what they already had. (bigger house, nicer car, better television)
This was true of people who were generally happy with their lives. However, for people who were not happy with their lives, doing more of the same wouldn’t help. Some things would have to change. For these people, money would help in that it would buy them freedom to make the changes it would take to make them happy.
Having the money to buy nice things dreams are made of won’t deliver happiness. Either you’re already happy with your life or you’re not. If you are happy already, money can put some sugar on your cookie, so to speak.
Being rich really has nothing to do with money. It has to do with being happy with what you have and not wanting more. Being rich is having enough. Some people working minimum wage jobs are rich and some people with millions in the bank are not.
And here is why.
Riches are more mental than monetary.
Those who are rich:
- Have a positive mental attitude
- Have sound physical health
- Are in harmony with others
- Have freedom from fear
- Are hopeful about future achievements
- Have the capacity for applied faith
- Have a willingness to share their blessings
- Want to be engaged in a labor of love
- Have an open mind on all subjects towards all people
- Practice self-discipline
- Have the wisdom to understand people
- Feel secure about their finances
After reading these, you do realize that you can just decide to have the first 11, right? Being secure in finances comes with a successful business or career – which the first 11 also help you to get.
Thank you to Patti Komara for her newsletter article “12 Things That Constitute Riches.” Her article when combined with thoughts from some articles from The Simple Dollar and Time Magazine provided the basis for my post.