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Episode 100: Defining Wealth
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Wow, what a milestone! 100 episodes of The Grow Your Wealthy Mindset Podcast!
If you have listened to all 100 episodes, you have hopefully learned a lot about personal finances and investing. Learning is a great first step, but you need to take action to create your version of a wealthy life.
What does it really mean to be wealthy? It’s a topic I explored early on in Episode 6. After attending a recent talk given by Peter Kim, also known as Passive Income MD, I thought it was a great topic to bring back for the 100th episode.
I start this episode by reviewing Stewart Butterman, one of the co-founders of Slack, definition of wealthy
Level 1. I’m not stressed out about debt. People who no longer worry about their credit card bills or their student loans.
Level 2. I don’t care what stuff costs in restaurants: It doesn’t really matter how much you spend on a particular meal.
Level 3. “I don’t care what a vacation cost, I don’t care how expensive the hotel is or how much the flight costs.” “Beyond that, I don’t really think it makes any difference.”
Next up is Morgan Housel’s definition of wealth which he wrote about in The Psychology of Money. “The highest form of wealth is the ability to wake up every morning and say “I can do whatever I want today””
And how does Peter Kim define wealth? “Wealth is the difference between get to and have to.”
Tune in for an episode to hopefully stretch your mind on what it means to be wealthy.
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If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook
You can learn more about Elisa at her website or follow her on social media.
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