When you hear the word WEALTH, what is the first thing that comes to your mind?
For most people, the answer is obvious – Money – yeah, lots of it…. For others, wealth is synonymous with “riches”, hence they define it as an “abundance of possessions, or of valuable products.” Those on the conservative end of the spectrum may want to define wealth as “the condition of being happy and prosperous” and as “a state of spiritual well-being”.
All of these definitions are right in the opinions of those who postulate them, hence I am neither going to concur or refute them. However, in this post, I am going to present to you an advanced definition of wealth that has very little to do with material possessions or riches. Of course, you know that as a financially intelligent person, you are expected to operate at a level that transcends the traditional way of thinking.
How do you know when a person is wealthy?
Expression of Wealth
The expression of wealth is another subject that varies from culture to individuals. Some cultures, especially those in this part of the world, don’t usually recognize a person as wealthy until he flaunts his wealth.
People are seen to be wealthy if they drive in flashy cars; live in a big, modern house or have houses in all the major cities of the country; send their children to international schools; throw a lavish party regularly; donate huge amounts in social functions and lots more.
The society here kind of sanctions this glaring method of wealth display. Hence, some people are ready to go to any length to be able to acquire wealth even if it means embezzling public funds as a politician or civil servant, performing barbaric sacrifices and rituals, bribing or killing. Everyone is looking forward to the day that people will know that they have “arrived” or that they have “made it in life”, the means notwithstanding.
Meanwhile, some other cultures don’t regard your wealth until you have donated to charity and taken part in philanthropic endeavours.
The Definition of Wealth from 3 Different Perspectives
I strongly believe that your understanding of the true meaning of wealth, riches and money plays a pivotal role on the kind of mindset you develop towards your finances and directly affects your financial well-being.
Therefore, this post, “The True Definition of Wealth” is a series of 3 articles that presents my analysis of the best three definitions of Wealth that I have not only come across so far but also adopt and recommend to as many as desire the path of Financial Intelligence. I am drawing my definitions from 3 experts in the field of Wealth Creation, namely:
1. Robert Kiyosaki
2. Niyi Adesanya
3. The Holy Bible
By the time we are done with these verifiable sources, you will have a better, fresh and informed view of the word “WEALTH” which will significantly increase your chances of creating it for yourself and others.
Without much ado, I am going to dive straight into my most favourite definition of material wealth which is the one from Robert Kiyosaki. Proceed to the 2/4 of this post to read.