What does it mean to be truly wealthy? When I first heard this question I didn’t have a good answer, as many thoughts came to my mind: money, being comfortable, a healthy state of mind, peacefulness. To be honest, the first thing I thought of was making lots of money. Well, we know that money doesn’t always buy happiness, and this desire can lead to more harm than good unless proper perspective is utilized. You need to take care of your health at the same time, both physical and mental.
The Dalai Lama, when asked about being wealthy, summarized a common held truth about this desire to achieve wealth:
“He sacrifices his health in order to make money, then he sacrifices his money to recuperate his health.”
Often in my practice, people are chasing monetary wealth so much they are giving up on their health. Then, when they get the wealth they seek they're unhappy. I believe one of the keys to a happy life is to have balance between your health and your wealth, and this is just one of many core beliefs of our financial planning practice. Here are a few of our other beliefs:
Wealth can never truly be defined, as it is entirely up to you. Wealth is an emotional feeling and you can either feel wealthy with what you have, or feel impoverished with a six figure bank account balance: it works both ways. The persuit of wealth becomes a problem when it takes priority over your health. Workaholics are amongst the most unhealthy people I know. Endless hours at the office sitting in front of desk takes a toll. On top of the physical conditions that can bear down on office work, the stress, anxiety, and possible guilt will exacerbate them all. Health is more than just losing weight and keeping your body in good condition. Just like in my wealth planning practice, holistic health is the target. Prioritize what wealth means to you; it takes soul searching and time. Like all important things in life (family, health, spirituality) you will have to make time for exercise and sleep.