Why is it important to be wealthy?

This blog centres around learning about wealth and success, but why is it important to be wealthy anyway?

  •          Freedom and choice. Working every day for the money to pay the bills stops most people from doing something they love. Being wealthy enables choice of lifestyle and choice of work, travel and fun. People don’t want to stop working completely, they just want to do something enjoyable.
  •          Ability to provide. We all want to be able to provide for our families, especially in times of need. Wealth enables us to have the choice to help our family. Do you want to pay off your parent’s mortgage? Pay for their healthcare? Put your children through college?  
  •          Ability to give. Very wealthy people give a great deal of money to charity. The Bill and Melinda Gates Foundation now has an endowment of approximately $37 billion, after Warren Buffett contributed his wealth to the cause in 2006. Even if the average person gives a high percentage to charity, they can never match the giving of the super-rich. If you want to give a great deal, make a lot of money and then give it away!
  •          No one else is going to look after you. The financial markets are currently wiping out government investments as well as private ones. The baby boomers are followed by the smaller X and Y generations who cannot earn enough to pay taxes to fund the government pensions. The truth is – there will not be a government pension for most of us. What little is available will not be enough to live on. It is your own responsibility to look after yourself and your future, so you owe it to yourself to become wealthy.
  •          Become the best person you can be. If you consider wealth to be in all areas of your life, then you will become a better person if you pursue it. Emotional, relational, health, financial and spiritual wealth are all important in your life, and in a lifetime of learning, you can improve on all these areas.  

What are your reasons for wanting to be wealthy?
If you don’t have a good reason, it is unlikely that you will get there. 

This blog is dedicated to learning about wealth and sharing it with you.  Please do let me know any topics you would like to learn about.

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