How many times have you said to yourself: “If I could only earn $X, then I’d be happy.”
It raises the question: How much money is enough to truly feel wealthy? trib.al/OLSKdYi
People’s views on wealth have changed during the Covid-19 pandemic.
➡️ In 2020 respondents said $2.6 million was needed to be wealthy
➡️ In 2021, respondents said $1.9 million was needed to be wealthy trib.al/vs5UGZF
What it takes to feel wealthy is a moving target.
Although it’s wise to think about how to grow your personal wealth, you can spare yourself a lot of anxiety by focusing on how to find contentment trib.al/vs5UGZF
There is a huge difference between earning enough to live and having your desired lifestyle.
To start thinking about feeling wealthy, determine a specific baseline income needed for you to live the life you want — within reason of what’s possible trib.al/vs5UGZF
Focus on what truly brings you satisfaction and happiness. Then you can reassess that baseline income every few years.
The coronavirus pandemic should have given us a chance to reflect on what we value most trib.al/vs5UGZF
The comparison trap is a death knell for feeling wealthy.
The problem is, we’re constantly inundated with carefully curated ads trying to sell us goods and lifestyles trib.al/YgBD9dQ
A reason you may struggle to feel wealthy is because you don’t trust it’s a lasting situation.
A dominant scarcity mentality in the financial realm is an underlying fear that everything will be taken away one day despite evidence to the contrary trib.al/YgBD9dQ
The suspicion that financial security, let alone wealth, doesn’t last can be a big part of what keeps us fixated on accumulating more and more.
And what starts out as a form of protection can turn into obsession trib.al/YgBD9dQ
One actionable step to get a handle on your scarcity mentality is to make sure you’re properly insured and prepared for any financial fallouts.
Start by making sure you’re covered with health, life, disability and homeowners insurance policies trib.al/YgBD9dQ
Remember, there’s no magic number. Even joining the double-comma club doesn’t do it for most.
A 2019 survey found only 13% of people with $1 million or more believe themselves to be wealthy trib.al/YgBD9dQ
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