The Two Ways to be Wealthy

Amar Pandit , CFA , CFP

I asked a simple question to many intelligent and accomplished people – What are one or two ways to become wealthy?”

The most common answers:

  1. Earn More
  2. Save and Invest More
  3. Get More Returns
  4. Inherit It or Marry someone with money (these are real answers)

The consistent word among these answers is “more.”

When asked, if they had enough to be considered wealthy, every person said,I am not yet wealthy…”

“So, what would it take for you to be wealthy,” I asked.

And once again the answer was “I just need some more (some people gave some numbers).”

Even when John D. Rockefeller (the wealthiest American to ever live) was asked if he had enough, his response was, “Just a little more.”

This thirst for more is never ending…It’s simply in our nature.

Therefore, many wealthy people also do not feel wealthy or consider themselves wealthy.

Ryan Holiday in his book “The Daily Stoic” wrote,There are two ways to be wealthy – to get everything you want or to want everything you have.”

Which one do you think is easier?

The truth is no one gets everything they want…So why not flip the game and simply want everything we already have?

What do you think?