Reasons You May Want to Be Wealthy
Few topics elicit such a wide range of opinions as wealth. It seems we either pursue wealth with reckless abandon or downplay the importance of having money altogether. While money isn’t the only thing that matters, there are few substitutes for those areas of life where money excels. Being wealthy certainly has its advantages. And believe it or not, it has disadvantages too.
In large part, your ability to build and maintain wealth is a function of your mindset and habits. Rarely does one become wealthy instantly. Instead, it’s through the consistent implementation of good money habits. And the persistent elimination of negative financial beliefs and behaviors.
If you want to reap the benefits of wealth, you may need to improve your money mindset first. For example, do you hold negative beliefs like money is the root of all evil? It is almost impossible to build wealth if you do because you have self-limiting beliefs.
“I have about concluded that wealth is a state of mind and that anyone can acquire a wealthy state of mind by thinking rich thoughts.” — Andrew Young
Ask yourself these questions:
- What are my current beliefs regarding money and wealth?
- How have my beliefs regarding wealth affected my finances?
- Do I respect those that have accumulated wealth?
- Do I desire to have great wealth, and if so, why?
Now for the good part.
The Advantages of Being Wealthy
True wealth is much more than just having money. But that does not mean you should overlook the advantages of being wealthy.
- Solve challenges. The fact that other qualities like love, family, friendships, and spirituality are also important does not minimize the importance of wealth. Consider the many challenges that money solves quickly and easily.
- Pay for the necessities
- Handle an unexpected expense
- Make a career change
- Further your education
- Buy something you want
36% of Americans would have to go into debt to cover a $400 emergency. But when you have sufficient savings, what would have been a crisis is a mere inconvenience.
- Be Financially Free. With sufficient wealth, you can quit your job and spend your days doing what truly fulfills you. You can live anywhere you choose and do nearly anything you desire. Money and wealth increase the options available to you. How would you spend each day if you didn’t have to go to work?
- Have Financial Security. Wealth provides security in different forms. It protects against unfortunate financial events, such as unexpected car repairs or medical bills. You can also better secure your home and care for your health. Money provides a safeguard in multiple ways.
- Eliminate undesirable tasks. If you loathe cleaning the house, mowing the lawn, shopping, doing your taxes, or even driving, you can hire someone else to do these for you.
“One of the advantages of possessing money is that it facilitates one’s independence and mental attitude. The man head over heels in debt is more slave than independent.” – B.C. Forbes
- Help others. When you have more money than necessary to take care of your basic needs, you have the option of applying the excess to enhance the lives of others. Giving money to charity is one way to accomplish this. Or you could also provide funds directly to those in need, including friends and family.
- Take a break. Wealth gives you the option of calling a timeout and realigning yourself. The ability to literally work hard and play hard exists. Life can become a series of projects or big adventures when you have more than enough money.
- Have Social Status. Your station goes beyond impressing the neighbors. The wealthy have advantages socially, politically, and when dealing with the legal system. There are advantages, considerations, and niceties extended to the rich that are commonly unavailable to the average person.
Building Wealth Takes Time
“Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” – Proverbs 13:11
In truth, money does not solve all the hardships of life. It, however, provides myriad opportunities and resolves many challenges. Furthermore, wealth affords one financial freedom and the chance to help others.
These advantages are all possible if you are wealthy. But be patient because building wealth takes time. Seek further education in the mindset and skills that can bring you wealth and work on them daily. Consistent action toward your goals over time yields positive results!