Life Lessons From the Very Wealthy

wealthymatters.com1. Having money is better than not having money.

Money may not buy you happiness, but it buys many other important things. Like financial security, excellent health care, education, travel and a comfortable retirement.

2. Don’t become “cash rich” and “time poor.”

Devoting all one’s waking hours to making money is a problem that  especially plagues professionals. Lawyers, doctors, bankers and accountants can get so caught up in the competitive nature of their jobs that they lose touch with their family. Any semblance of a normal personal life disappears, and a very unhealthy balance between work and home  develops.

Work is the process of exchanging  time for money.If you are working so much to become rich but you ignore your spouse and miss seeing your kids grow up, you are actually poorer than you realize.

3. Memories are better than material objects.

Among the monied set, expensive cars, yachts, houses, jewelry and watches are less important than memories of amazing experiences, family get-togethers, vacations, shows, sporting events, weddings etc.This is especially true when it comes to family. Toys matter less than good times.This is because the rule of diminishing returns operates with luxury goods.For example a watch that is 30 times more expensive doesn’t tell time that much better.And the 100th watch is not likely to give as much  pleasure as your first.

4. Avoid “lifestyle leverage,” especially early in your career.

Jumbo mortgages, top of the line cars on loan, designer threads on the credit card etc. are the sort of purchases that keep a person slaving away to pay the bank.And wealth is built by paying the biggest amount to oneself first, last and always.

5. Having goals is incredibly important.

 Having a  long-term vision and  goals and the ability to execute that vision lead to incredible success.Many people have no goals. They simply let life’s river flow them downstream. However as the Latin phrase goes :Amat victoria curam = Victory loves careful preparation. You accomplish more with careful planning.

6. Live in the here and now.

Goals are important, but don’t miss out on what is happening today.Do not let dreams of that perfect mansion prevent you from enjoying the home you live in.

7. It helps to be incredibly lucky.

Being smart is good, but being lucky is better.However as Seneca the Younger said “Luck is where preparation meets opportunity.” So don’t forget to prep to better your chances of success.


About Keerthika Singaravel

One Response to Life Lessons From the Very Wealthy

  1. Vera says:

    Heya!Thank you for this wonderful article! I will certainly save Life Lessons From the Very Wealthy Wealthymatters. Many thanks.

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