Types Of Wealth
In this ARTICLE, we discussed about WEALTH
Concerning the types of wealth, there are basically, but arguably, 4 types
of wealth:
Physical wealth (Health)
Social
wealth (Status)
Financial wealth
(Money)
Time
wealth (Freedom)
And
some persons have added Spiritual wealth (Enlightenment) which they think is
even more important than all the others put together
The majority of people associate the term "wealth" with money, but this is a limited understanding of what it means to be wealthy.
Every aspect of one's life — wellness, relationships,
finances, time, and so on — is included in wealth.
We'll go through each of these four forms of wealth in more
detail below, as well as how they contribute to your own personal life.
Physical Wealth
(Health)
The glue that binds all other forms of wealth and one's life
together is physical wealth or health.
We cannot attain any other form of wealth, or at least not in
a wise and long-term manner, without the health and physical vitality of our
bodies.
The majority of people are unaware that true wealth is
wellbeing.
They neglect to invest in their bodies and minds, oblivious
to the fact that this is a worthwhile endeavor in the pursuit of all forms of
money.
Understanding and mastering the following fundamentals is the
key to physical wealth:
a. Nutritional Supplements
b. Getting Enough
Sleep
c. Training and
movement must be done correctly.
d. Literacy in the
field of health
e. Environment that
is safe (People & Place)
f. An Introduction
To Energy Systems (Break Down & Repair)
Here are some of the
most popular stumbling blocks to good physical health:
a. Nutrition of Poor
Quality
b. Sleep of Poor
Quality
c. There is a lack
of movement and training.
d. Health Literacy
Deficit
e. Unhealthy
surroundings (People & Places)
f. Unhealthy Habits
Social Wealth (Status)
Since we don't think of status as a form of wealth, social
wealth or status is one of the most undervalued forms of wealth. We recognize
the importance of rank, but we never connect the dots to the fact that it is a
type of wealth.
Understanding and mastering the following fundamentals
constitutes social wealth:
a. Persuasion
Techniques
b. a good name
c. Character Body
Language of High Quality
d. An understanding
of human nature and psychology is important.
This is by no means an exhaustive list of all the basics, but
the ones mentioned above cover the vast majority of what constitutes social
wealth or status.
Social wealth is primarily determined by how you communicate
with others.
Yes, it deals with luxury vehicles, homes, appearance, and so
on, but it mostly concerns the type of character you build and how others
communicate with and view that character.
Here are some of the
most common stumbling blocks to achieving social wealth:
a. Inability to
persuade
b. Negative social
standing
c. Character of poor
quality
d. Human existence
ignorance
e. Psychological
illiteracy
f. Consumption of
material goods
Financial Wealth
(Money)
When we hear the word "capital," we immediately
think of financial wealth, or income.
But, what does financial capital actually imply?
Financial privilege, in my view, is financial independence,
which is the right to spend money on anything you want, whenever you want, with
whomever you want.
This is total freedom from financial stress and anxiety,
which is one of the most common sources of pain in most people's lives.
Understanding and
mastering the following fundamentals is the key to financial wealth:
a. Putting money
into something (Assets vs Liabilities)
b. Investing
(Necessities vs Luxuries)
c. Creating a budget
(Consciously Allocating Money)
d. Financial
Intelligence (Reading, podcasts, events, etc.)
e. Long Term > Short
Term Surrounding Yourself With Financial Masters
f. Efficient
Behavior Modification
Financial wealth would not be an issue for you if these
basics are continuously worked on and changed.
These fundamentals have stood the test of time and will
continue to work for you as long as you follow them.
Consider a future in which you will never have to think about
money again.
Consider how it would make you feel, how it would affect your
relationships with the world and the people around you, how it would affect
your family situation, and so on. Isn't it a wonderful sensation?
Well, if you make a commitment to the process of mastering
financial wealth as well as the three other forms of wealth, you will achieve
this kind of life one day.
Here are some of the
most common stumbling blocks to achieving financial wealth:
a. Insufficient
financial knowledge
b. Spending more
than one receives is a bad idea.
c. Not making an
investment (Includes investing in oneself)
d. Unhealthy Habits
e. Surrounding
yourself with people who are financially broke is a bad idea.
f. Thinking in the
short term is preferable to thinking in the long term.
Time Wealth (Freedom)
Having your own time to spend as you want, where you want,
and with whom you want is known as time wealth or independence.
Time wealth, along with other forms of wealth, is what the
vast majority of people want.
However, the majority of people in today's world lack time
wealth because they devote all of their energy, both physical and mental, to
earning money.
Understanding and
mastering the following fundamentals is the key to accumulating time wealth:
a. Making profits
outside of the conventional work environment
b. a realization
that time is limited
c. An awareness of
how most people exchange time for money
Here are some of the
most common stumbling blocks to achieving time wealth:
a. Keeping a “safe”
and traditional work structure
b. Acting as if time
were a limitless resource
c. Spending time on
drugs, partying, and general hedonism
Spiritual Wealth (Enlightenment)
So, what does it mean to have spiritual wealth?
Spiritual riches are derived from within. It's your sense of
well-being, mindfulness, and spirituality, which you can access at any time.
True spiritual wealth is something you have command over.
Material capital, on the other hand, has a tendency to change
over time.
It's affected not only by internal factors like bad financial
decisions, but also by external factors like the environment, natural
disasters, and a slew of other factors outside your control.
Because
of the many injunctions from the Holy Books and Prophets that have passed this
way, some people believe that spiritual riches do not go hand in hand with
material or financial wealth, but they seem to forget that man is a spiritual
being on a physical quest to learn more, and he needs to be financially able to
finance his spiritual excursions.
Without
capital, it is impossible to be of spiritual service to anyone.
The
magic happens when you strike a balance between spiritual riches and material
wealth.
So, with all of this in mind, how much spiritual capital do you have? What effect has this had on your overall perspective on wealth?
What Does It Mean to Be Spiritually Wealthy?
Here's
where I'm going to put you to the test: Make a list of what spiritual riches
entails for you. This is the first step in coming up with a new idea of wealth
for yourself.
You
should welcome the energies of the unique vision into your life once you have a
good understanding of what spiritual wealth means to you. Your definition does
not have to be about money; it could be about happiness, spirituality, or
equality, for example. Spiritual capital, however you identify it, is yours to
keep and no one can take it away from you.
Now
that you've described spiritual wealth, I'd like you to describe wealth in
general.
This
is, once again, your own personal description.
Where
do you stand in terms of financial and spiritual wealth? What strategy would
you use to do this?
The 4 Types Of Wealth's Modern Day Trap
When it comes to the four forms of capital, the majority of people fall into a huge pit from which they rarely escape.
Here's the catch: Be wary of jobs that offer financial wealth (money) and social wealth (status), but deprive you of time wealth (freedom) and physical wealth (health).
This is the most serious issue that the modern world faces, and it is important to recognize that you will quickly slip into it if you do not consciously pursue what is meaningful and wise on your life's journey.
The majority of citizens prioritize money and status over time and health. In the short term, this “works” in the individual's favor, but in the long run, it has negative implications.
An individual can gain financial wealth and social wealth, giving the impression that they are on the right track, but if they neglect their time wealth and physical wealth, they are unintentionally on the road to personal disaster.
What good is it to have all the wealth and power in the world if you don't have time to enjoy yourself or the physical stamina to feel good while doing so?
The reason is that the tradeoff isn't worth it. And it is a tradeoff, but one that is often rendered unintentionally rather than consciously.
To get a better understanding of what situation you're in and if you're stuck right now in your life, ask yourself the following questions: "Am I seeing the benefit in concentrating on my time and wellbeing, as well as my finances and status, and does that show in my actions?"
“In which of the four forms of wealth am I lacking, and how can I instantly improve?”
“In
which of the four forms of wealth do I excel?”
Conclusion
We all have the potential to attain all four forms of wealth in our lives, and when we do, an odd thing happens: we begin to experience the wealth of fulfillment.
When all four of these wealth forms converge and are continually improved upon, the wealth of fulfillment emerges. This is the location in which we all wish to be.
Keep in mind that mastering each of these types of wealth takes years, and in certain ways, you might think of it as a lifelong phase that never ends because these types of wealth have no end. There is only ever-increasing progress.
To master and take control of these forms of wealth, it takes years of effort, practice, humility, learning, understanding, networking, and so on, so get started right away and don't be fooled into thinking they can't all be worked on at the same time.
#wealthisearned
Wealth and different forms of it. Thank you for the reminder
ReplyDeleteGood to read from you
DeleteDo keep up the visits
Dr. Dennis Ekwedike : This write up on wealth and the types is a masterpiece and it's worth reflecting over and over. Thanks Dr. Jerry The First for the eye opening and thought provoking messages and questions!
ReplyDeleteThank you Dr. Ekwedike for visiting the Blog and for your kind comment
DeleteDo keep coming back
Thank you so much Dr Jerry the first. I am very much enlightened
ReplyDeleteYou're always welcome
DeleteJerry the First..thanks immensely for this lecture..I shall keep reflecting on the four types of wealth to aspire to strike a balance. I never knew of spiritual and social wealth.
ReplyDeleteGlad to know that you have come to understand the tyles of wealth
DeleteThis is a master piece, I never knew there are Social and spiritual Wealth, and I am lagging behind in all the four types of wealth, I promise to improve myself on the types of wealth mentioned here. this is an opening message. I Commend you Dr
ReplyDeleteYes these are the types of wealth and for one to actually be wealthy, he has to strike a balance amongst them
DeleteChinwe Ekwedike
ReplyDeleteLife will always be a challenge as long as you live.There is no great man without a story. The most important thing is to continue to soar high no matter what happens. Things many not have worked as proposed.,don't give up on the dream
The financial heights may not have been reached,continue to do the little things like saving investing because at the end of the day it will finally pay off.
2.My financial goal has not been as planned. As money is never enough to run the day to day activities more less carry out mega projects.
3For me,to focusing the big picture, ie long term goal.
4.Finanical evaluation should be conducted almost every non and then.it could be daily, weekly, monthly, and yearly. The essence is to help you to check if you are spending more than you earn.