I get asked the question 'Is it too late to become wealthy after 50?' quite often. The truth is, it’s never too late to choose to be wealthy, whether we’re 50 or 60 or 70+ years old. No matter how old we are or where we are today, it is truly possible to be wealthy.
Most people think that being rich and being wealthy are the same thing. But there is a huge difference between the two. Being rich is about getting and possessing a lot of money; being wealthy is about living a generative life, doing what you enjoy, and simply "freedom of choice." The word wealth comes from the Old English words “weal ” (well-being) and “th” (condition) which taken together means “the condition of well-being”?
Contrary to what many people believe, we don’t have to come from an affluent family, we don’t have to earn a massive paycheck and we don’t even have to be an expert in finance to be wealthy.
Wealth is not about the amount of assets or money we have. It's much more than money. It's about having joy in our life. It's an outlook and awareness of possibilities beyond having or not having money and beyond our current financial reality. There is the sense of having a choice. There is no limit to what we can create. Rich people are motivated by money and often come from a sense of lack, while wealthy people are fired up by their ability to create and generate new and different possibilities.
“Wealth is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.” —Franklin D. Roosevelt
Wealth to me is the essence of who we are. It doesn't require any particular skill or special ability or belief. It just is. It is a way of being in the world. It is a level of energy that feels like there is no lack in our life. Being wealthy is knowing that we create our own life and our own reality, that we are the ones in charge. And the key to this essence is simply being aware that the universe is an unlimited place with unlimited possibilities. It's generative and transformative. I know this for sure: If you make time to cultivate this awareness every day, you'll be amazed by the transformation.
“Seek not greater wealth, but simpler pleasure; not higher fortune, but deeper felicity.” —Mahatma Gandhi