What is wealth?

Rich or Wealthy

 JP Getty was rich. Bill Gates and Warren Buffet are wealthy. The rich have money and often have lots of it! To many people, money is the most important thing. Money becomes less important when we have enough of it. Money is not the most important thing, but money can and does solve a lot of problems. Money is just a tool, a great tool to do great things with it. The wealthy have many things, including money! Wealth is a byproduct of living a great life. Wealth follows excellence. The rich leave money when they die, everybody does, and often the heirs fight over it; the wealthy leave memories, great deeds and a legacy for eternity. What do wealthy people have besides money? Let’s dive into what makes someone wealthy so you can figure out how to move in that direction, if you so choose.

Here are the 7 things that are part of WEALTHY individuals:

W=Why, E=Effort, A=Accountable, L=Legacy, T=Time, H=Health, Y=Yearning

1.      Why. The wealthy know well their many whys. Know why you are on this earth. Know the meaning of your life. Know your purpose and your mission in life. Live your passions. Develop your full potential. Drive the right economic engine. Pursue your purpose. Build things that cannot be destroyed. Build treasures for eternity. 

2.      Effort. Earn your wealth. First work hard, then work smart by using leverage over time. Take massive action, have consistent focus, and relentless pursuit of your purpose, vision, dreams, and goals. Understand and obey these 3 powerful principles: long term thinking, delay gratification, and leverage the power of compounding.

3.      Accountable. Take full ownership for everything you are involved in. Keep score on what matters most. Take full responsibility for your scorecard. Plan, do, check, and adjust continuously. Improve yourself continuously. Never give excuses. Pass credit and take blame, even it is clearly not your fault. Leaders extreme ownership of all that they are responsible for.

4.      Legacy. Live a great life and leave a legacy. Be a positive influence in the lives of others. View money as a tool to live your purpose and fuel a cause much greater than yourself. Create positive memories in the lives of others. Use money to lessen the suffering of others. Be a great steward of all your talents and treasures.

5.      Time. The full control of your personal finances so you can be financially free. Use time to focus on what matters most. Own your time. Value time above all else. Time is the greatest asset. Be generous with your time and treasures to help those in need. Invest time to have more free time in the future.

6.      Health. Physical, mental/emotional, spiritual. Have positive energy. Use energy for positive impact. Age gracefully contributing until your last day. Have faith and know why you believe in what you believe. Never forget that faith without deeds is empty.

7.      Yearning. Have a yearning for learning forever. Always be hungry to learn from everyone and everywhere. Read, listen, associate with the right people. Invest in yourself more than you think you can afford. Play the game of life fully.

Which one thing caught your attention? What will you change today to start living a wealthier life? Many are rich, very few are truly wealthy! Be in the second group, there are less competition there!

Carlos Fontana

Financial and Leadership Coach

(Get out of debt, make more money, pay less taxes)

"Those that take swift action will always leave those that don't breathing the dust"

"The future belongs to those who can see and pursue opportunities before they are obvious"

“Managers influence numbers, leaders influence people by inspiring them to pursue excellence”