Do you want to be rich?
I always thought that being rich meant living in a mansion. I figured that if I had a million dollars one day, I could buy the best house in town. All I wanted was a nice house and maybe a little Ferrari. Then I grew up and realized that for a million dollars I could only get a nice condo in downtown Toronto. I learned that a million dollars isn’t all that much and that a nice house will depend on where you want to live. You can get a mansion in the middle of nowhere for the same price as a tiny home in a big city. But I digress.
What does being rich mean to me now? It means to be flexible enough to spend money on what matters to me. It means to have the money to do what I want to do without stressing about it or putting everything on my credit card.
I wanted to share a story with you guys today.
My parents are both immigrants. They came to Canada in the mid-80s and struggled from the beginning. They always worked hard and gave us everything they could do. I imagine it’s not easy raising three boys.
I know that I can never pay them back. But I can try.
I really wanted to surprise them one year. I’ve always wanted to send them on a trip. I had some good money saved up in one of my savings accounts. I really wanted to shock them. I knew that $1,200 was a lot to hand over. I wasn’t sure if I could spend this money.
I finally just said screw it and decided to buy them an all-inclusive trip to the Bahamas. It was a lot of money but I knew that they deserved it. They were totally caught off guard when I handed them a card with a piece of paper in it. They didn’t know how to react. At first they were upset. Then they were happy because they realized they got to avoid the Canadian winter for a few nights.
I see being rich as being able to spend money the way that I want to. Due to my frugality in some areas, I was able to spend my savings on sending my parents away with a pretty sweet gift.
I wanted to look at two important questions…
Not always. It just means that you can prioritize and have anything that you want with some planning.
The problem with most of us is that we want everything at once. That’s fine if you inherit some money. Realistically, we can have anything we want with some planning.
You should be able to consider yourself rich if you have the ability to plan for purchases and buy anything that you desire with some time.
For some the idea of being rich involves not having to work and freedom from the 9-5 world. For me it’s the choice to work when you want and how you want. It means that you can quit a job that’s causing you stress without worrying about what you’re going to do next.
I had a debate once with a buddy who made way more money than me. He makes great money but has to break his back for it. He says it’s worth it because he can maintain an expensive lifestyle. I said it wasn’t worth working 16 hour shifts because you’re missing out on life. He could easily work less hours and just cut back on junk. However, it’s important to note that we all have our own life philosophies. To me being rich involves having more time and flexibility. For others, a lavish lifestyle is what makes you rich.
This is why I’m curious to hear…
What does being rich to you?
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