Most people aspire to achieve financial wealth. And, while I believe it’s a worthy aspiration, it is just one type of wealth that people must focus on.
4 Types of Wealth
I believe to be truly wealthy, you should have four types of wealth:
1. Health Wealth
If good health is not one of your top two goals, then the rest do not matter! Without a healthy body and physical fitness, you cannot enjoy the finances you accumulate.
2. Reputational Wealth
Reputation is defined as how others view us. It determines who will help us – both personally and professionally. This means we must think very carefully about what we say and how we act. We must monitor our own performance and protect it from threats. Your reputation will pave a path before you, either good or bad. Strive to create a name synonymous with excellence!
3. Intellectual Capital Wealth
Your thoughts and experiences have value. It’s your intellectual property. If you are constantly growing your thinking with what you read, listen to and who you associate with, you will attract like-minded people who will want to tap into your thinking. And they will pay you for that knowledge!
4. Relationship Wealth
This is who you know, as well as who knows you. Your associations are the keys to long-term success. Your NETWORK, determines your NET WORTH!
When I spoke to students participating in a D.C. Superior Court Judge’s Law Camp, one young man asked me how to handle acceptance, popularity, or lack thereof. I answered by posing another question, “Do you remember 1st grade?” The students all said, “YES!” I then asked, “How many of those first graders do you still hang out with?” Most of them answered, “Not many!”
That’s exactly how life is. We meet people along our life’s journey who are only there for a season. They are like the flowers that are annuals – bloom once then fade away. Occasionally, we meet people who will be life-long friends. They are the perennials. They bloom and blossom, year after year. That’s how we should think about popularity.
Focus on Excellence
Many individuals who are around today will probably not be around in ten years. Don’t dwell on what they think of you. Focus on excellence. Focus on your dreams and goals. Often the people who succeed at the highest levels were not the ones voted as “Most Popular” in high school!
Be a Friend
Scripture teaches that the best way to have a friend is to be a friend. Make a point to be the kind of friend you would want someone to be to you.
Give Before Receiving
Grow your network by helping others before you need help from them! You will be blessed with wealth that will sustain you in the tough times. We call these people our perennial friends! Develop your perennial relationships.
Grow your network. It will positively impact all your types of wealth!