Is it a specific level of income per month, or per year? Is it when your net worth (assets minus obligations) reaches a certain pre-defined threshold? Is it a “lifestyle”, that may or may not have anything to do with how much money you actually have?

To be honest, I really don’t know exactly how to pin down a really good definition of rich.

One thing’s for sure though, it sure does seem like most of us spend an inordinate amount of time and energy obsessing over the idea of BEing rich some day.

Here’s something to chew on …

What if we are already rich, but don’t even realize it?

What if being rich, while still involving money, has nothing to do with exactly how much you actually make?

Here’s my definition:

You are Rich when you have Freedom From Money.

Think about that for a second …

It could be argued that the financial crisis our country is currently undergoing was caused by people with a lot of money, who were so obsessed with making even more, that they participated in illogical, and possibly unethical schemes.

These people are not rich (even if those with millions in the bank). The pursuit of money controls their lives.

On the flip side, we all know people who might not possess vast amounts of material wealth, but always seem to have more than enough to live a comfortable life. They don’t worry about money.

In my book, that’s Rich.

Just my three pennies,
Todd

p.s. I’ve posted this quote before, but I think it’s relevant to this post:
“True happiness is not having what you want, it’s wanting what you have”

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Now, to an 11 year old, I suppose that could very well feel true. And in a way, he does have a point.

However …

The more money you make, the more money you spend

As illogical as that statement may seem to some, I honestly don’t think a more true sentence has ever been uttered.

I got a first hand view of this concept just last night when Justin (my 16 year old), had a school assignment to make a budget. It was suggested that he ask his parents to estimate their own expenses.

At first, he was utterly amazed by how much money we make each month.

Then, just a few minutes later, he was equally stunned by the relatively small percentage that was actually left after savings, taxes and paying all the bills.

… unfortunately, I wasn’t as surprised as Justin.

I think I actually have a pretty good handle on bringing in additional income.

However, much like our own US Government, it’s the spending part of the equation that tends to get most of us in trouble.

As luck would have it though, I have a few “financial advice” type sites in my feed reader. And one of them recently made a post that could very well keep me busy for days (in a good way).

I’ve compiled a comprehensive collection — organized by category — of 110 personal finance calculators and helpful tools. They’re free, found online and designed to help you find fast answers to your financial questions.

I hope you find it helpful … or even better, you’re already so financially savvy that you don’t need any of these tools

Keep havin FuN!
ToddPeople who read this post might also enjoy:

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