test
HomeBUSINESSThe 8 forms of wealth you need to be a millionaire

The 8 forms of wealth you need to be a millionaire

We live in a society that teaches us that the only form of wealth is money. And unfortunately, it turns out that many people are so poor that all they have is money.

And with this I am not saying that money is not important, because it plays a fundamental role in our lives, and especially in our personal finances.

The point is that true wealth goes beyond the amount of money you have; There must be other fundamental elements to be truly rich. So if you want to learn how to be a millionaire, you must pay attention to these elements that you need to achieve wealth.

Wealth is not just about having money

As stated Robin Sharmaauthor of books like The monk Who Sold His Ferrari, The 5am club Y Manifesto for everyday heroesIn the world there are people who are rich in material goods, but poor in terms of happiness.

That is, they are people with economic liquidity but with poverty and scarcity in other areas of their lives.

For example, they do not have time to share with their family, they live in emotional and spiritual poverty, they are in terrible physical condition, and they constantly invite disease into their lives due to stress and bad habits.

What good is having money if you lack everything else? This is why you must build the following types of wealth to truly be a millionaire in life. Let’s see what they are about.

1. Personal excellence

What does this type of wealth consist of? Basically it is about having your mental disposition calibrated, working on your talents, taking time to cultivate good emotions, optimizing your physical capacity with healthy habits, and working on your spiritual being.

In a nutshell, This type of wealth consists of working every day in your best version.

2. Physical well-being

There is a Japanese proverb that says if you don’t take care of your body, where will you live? This type of wealth includes:

  • physical state
  • Mental health
  • personal energy
  • recovery capacity
  • sleep hygiene
  • Your longevity.

To cultivate this dimension of your personal wealth, you must dedicate a moment of your days to maintain and improve your physical health in optimal conditions.

In this type of wealth I want you to remember a great phrase from millionaire minds: Those who do not have time for health will have to make time for illness.

3. Family and friends

At the end of life, many people regret not spending time with loved ones, family, and friends.

If you feel this will be important to you at the end of your life, it makes sense to make it a priority today.

Remember that no matter how much money you have, or no matter how many profitable businesses you have, these will never replace quality time with your family, building memories, your children’s childhood and present moments.

So make sure you have a space in your schedule to share with your family and build good memories.

4. Professional career

Did you know that there are professional careers with high demand and that could bring you closer to your goals?

However, it is not only important that your profession is well paid. It must also represent a source of personal satisfaction, which motivates you to improve every day.

When you find a job where you help many people, solve complex problems and motivate yourself to improve every day in your profession, you will be achieving a type of wealth that is fundamental to being a millionaire.

It is for this reason that you should invest a large part of your energy to improve your professional performance, acquire new skills and continue to climb in your field of action.

5. Money and value of your heritage

banner debts bundle

One of the most important forms of wealth is your financial freedom. At this point it is important to clarify that your income is very different from your wealth.

There are people who earn a lot of money, but manage to spend all their income, leaving themselves with no ability to build wealth.

So it’s important to have an investment strategy that allows you to earn well, spend wisely, and have surplus to build assets that generate passive income.

In this construction of material wealth you must seek a balance (something that many people overlook), because not doing so will have a great cost in other areas of your life. For this, make sure to:

  • Use your money to create memories with your family
  • Cover your basic needs
  • Enjoy the fruits of your labor
  • Acquire material goods and experiences that give you happiness

Additionally, learn to manage your money very well, as many people fall into the spending trap, which implies that the more money you earn, the more you spend.

Your annual and monthly income matter much less than how much money you have left to save and invest once you cover your expenses. Don’t confuse income with profit.

6. Mentors who make you grow

One of the phrases for entrepreneurs that we repeat the most in Undertaking Stories is that we are the average of the five people with whom we share most of our time.

This is why we rise to the level of our conversations and relationships. It’s no secret that our inner circle drives inner excellence (first mentioned type of wealth).

So to work on this type of wealth it is necessary to share more time with people whose life and dreams motivate you.

It is essential that, in order to improve your quality of life and be more productive, surround yourself with people who have a higher level than you, in this way you will always strive to improve and raise your level.

As stated Robin Sharma in his book Manifesto for everyday heroes: If you’re the most successful person you know, maybe it’s time to meet new people. Be sure to find role models to guide you in your life.

Recommended books

7. Experiences, Adventures and lifestyle

One of the forms of wealth that brings the greatest value to our lives is living new experiences, getting to know distant cultures, turning strangers into friends and trying new things.

Ask yourself how to include new experiences, adventures in your day to day and get out of your comfort zone. For example you could:

  • Visit art galleries in your city,
  • try new restaurants
  • visit libraries,
  • Tour your city as a tourist, among others.

8. Impact and contribution to your community

Do you remember that feeling of fullness and happiness that comes from helping other people selflessly?

In this way, Robin Sharma raise something of great value: A life that doesn’t make other people’s lives better is an empty life.

So acquire the habit and commitment to invest a part of your wealth (money, time, skills and resources) doing activities that help communities, groups of people or family members.

To end this article with the forms of wealth that you must have to be truly a millionaire, remember what it raises henry james: When one has good health, fortune, lives with a clear conscience, and does not have any uncomfortable relatives, I suppose that one is bound to consider himself exquisitely happy.

Continue reading: 13 Secret Traits Millionaires Have in Common

Must Read