If you ask any rich person, they’ll tell you real wealth doesn’t have anything to do with money. It’s all about mindset, your history with money, and all sorts of other bullshit.
Money is, in fact, an essential component of what it means to be wealthy—specifically, the fourth and least essential component.
The real important thing, which makes up the first through third most essential components of wealth, is assets.
Money is not a great asset. It’s about as worthwhile an asset as a new car, which loses at least 10 percent of its value as soon as you drive it off the lot. Similarly, money in an interest-bearing savings account can’t even keep up with inflation.
Here’s all four:
Number Four: Your money. What you have in the bank, stocks, retirement accounts, or whathaveyou.
Number Three: Your earning potential. Warren Buffett says this is the greatest asset you have. It’s actually the third greatest asset you have, but it’s still an important asset. Even if you have no money, you’ll quickly be living on easy street if you have great earning potential.
I’m not Warren Buffett, so take Number Three with a grain of salt.
Number Two: Your social network. How close are you to your family and friends? How strong a lifeline are they? How much do they love you, and what would they do for you? How well do you nurture your relationships?
Someone surrounded by the unconditional love and support of family and friends will always be wealthy. Even your wider network of loose ties, or followers on social media, count in this category. That’s a serious asset in the modern world.
Number One: There’s only one thing you truly own in this world. Your number one asset is your physical body, including your brain and your thoughts.
Yes, your greatest asset is your ass.
Sadly, most of us take dismal care of our number-one asset. We spend so much time chasing after Number Four at the expense of Number One, weakening it, stressing it, and poisoning it.
If we had any sense, we’d all be meditating, exercising, moisturizing, going to therapy, sleeping as much as possible, and consuming nothing but pure spring water and vegetables to ensure we take the best possible care of Number One.
Whoa, hey, that's a fine list. But I'm gonna throw in a bit of meat, candy and some tobacco (for mental clarity) too in addition to the spring water and veggies. You gotta be happy too, right, in order to write?
Very true!