When you think of a person's wealth, you don't think of the million dollars that they have in the bank, you think of the million dollars that they have spent. Most people are confused between the appearance and the reality of wealth; trappings of wealth and actual wealth.
It may be the house, it may be the car, it may be the job, but often wealth is about what you don't see. At SSWM we feel that value should dictate the way we view the world. In the wealth and investment world, it is about value creation.
It may be the house, it may be the car, it may be the job, but often wealth is about what you don't see. At SSWM we feel that value should dictate the way we view the world. In the wealth and investment world, it is about value creation.
Success, and wealth, has nothing to do with the house you live in or the car you drive. Life will have more ups and downs, challenges, disappointments and elation. Through continuous learning, increased knowledge, thinking for yourself, developing good habits, focusing on the long term, and trying to have fun on the path, that should be the ticket to managing wealth, and happiness, in your lifetime.
Sua Sponte Wealth Management is not just about money and how you manage it, but it is also about creating value in all the things you do in life. There are six essential aspects of wealth that will bring you happiness in life:
- Physical Wealth: You need to be physically healthy to have the energy to engage in life. If you don’t have a baseline of health you can’t function and can’t be successful. Health care is extremely expensive and getting more so.
- Mental Wealth: You need to be continuously engaging your mind. Learning and growing, experiencing new ideas, getting better, getting wiser, pursuing mastery, and putting your ideas to work to accomplish your goals.
- Emotional Wealth: You need to be self-aware emotionally, feel good about yourself, and have a positive self-image. If you are depressed to the point where you can’t function you can’t be successful.
- Social Wealth: You need positive relationships in your life and people that love and support you. You have friends and loved ones that you trust, that make you a better person, and inspire you to be better. There are people you can call at any time of the night if you have a big problem. Humans are social, if you don’t have people you care about and that care about you can’t be successful.
- Purpose / Meaning / Spiritual Wealth: You make a positive impact in others’ lives, giving meaning and purpose to your work and daily life. This keeps you focused and inspires you to overcome the day to day struggles and setbacks that are a part of everyone’s life.
- Material Wealth: There is a basic level of food, shelter, and clothing that all people need and that is paid for through money. If you are too poor or have too much stress from struggling financially you can’t be successful.
Case Shiller Housing Index Over the long run, investments in housing do not return much above the rate of inflation. The stock market has performed better. You are better off renting and putting that 'purchase' money into stocks. Cars fall into that same category, or worse. Cars are for transportation, for getting from one location to another safely and reliably. A home is for living in, for security, for raising a family, not for speculation on housing prices. When you mix the two, horrible things can, and will happen. Remember 2008?
Some material things do make my life more enjoyable. I do enjoy the MacBook Pro I write this column on. It is connected to more music than I could enjoy in a lifetime and a wealth of global educational information. Having my son in the best football helmet that money can buy, does make watching the game more enjoyable. I like to write and I like to write with a fountain pen, I will spend a little extra for a fine writing instrument. Oh, sunglasses, I do like a nice pair of Ray-Ban's. For the most part, I'm not real big on accumulation of material possessions. In fact, I think I'm two generations behind on my iPhone upgrade.
Some material things do make my life more enjoyable. I do enjoy the MacBook Pro I write this column on. It is connected to more music than I could enjoy in a lifetime and a wealth of global educational information. Having my son in the best football helmet that money can buy, does make watching the game more enjoyable. I like to write and I like to write with a fountain pen, I will spend a little extra for a fine writing instrument. Oh, sunglasses, I do like a nice pair of Ray-Ban's. For the most part, I'm not real big on accumulation of material possessions. In fact, I think I'm two generations behind on my iPhone upgrade.
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There is no doubt that there is great psychological satisfaction in spending money on nice things. The way to make ends meet is to spend money you have, and to not spend what you don't have. The way to build wealth is to not spend money you have. The decision is an easy one, do you want to build wealth or buy things?
Do you want to spend a million dollars or be a millionaire? Sua Sponte.
Do you want to spend a million dollars or be a millionaire? Sua Sponte.
| Bradford C. Bruner for Sua Sponte Wealth Management | I count him braver who overcomes his desires than him who overcomes his enemies. |
