Smart and wealthy?

by Nov 9, 2018Life & Money Q&As

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Why aren’t all smart people wealthy?
A powerful question from Elena Ledoux, founder of MommyGO,
that has produced a significant response…

Hi Elena. First let me say that I honour you for having brought up, in your words, two smart kids. Parenting is not easy, especially in a time of significant economic and social pressures.

Second, its a great question. In turn, I would ask you a question: how do you define wealth? More importantly, how do each of your sons define wealth?

Wealth derives from the words ‘well ‘and ‘health’  A more holistic definition of wealth which includes health, happiness, good relationships, impact, success and well-being as well as money may be more meaningful than one that addresses money alone.

It would be interesting to find out if your sons intend to define their ‘wealth’ in absolute or relative terms. If they define it in terms of other peoples expectations they will be heading into the scarcity trap and the mindset of ‘I don’t have enough…’. This potentially leads to burnout. 

There is, I believe, a virtuous circle of happiness, wealth and impact. Happiness is a habit that can be learnt and is a pre-requisite of success and wealth, as much as a consequence. Wealth in its widest sense provides the resources to make a difference. Consciously setting out to live life for others, to be of service, to make a difference is the route to happiness, and so the cycle starts again.

In my humble opinion we have to believe that everyone is doing the best they can. We have to believe that everyone is smart in their own way but that their potential may need to be developed. We have to believe that everyone can be ‘wealthy’ as long as it is on their own terms.

Its well worth reading The Soul of Money by Lynn Twist.

I hope this helps and I wish you and your sons well. Jeremy

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