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How wealthy should a person be to be considered financially self-reliant? This is a difficult question to answer. Two people who have the same financial status in life are likely to disagree on what defines true wealth. Obviously, we can expect an even grater difference in the opinions of two people of dissimilar financial status.
How do we define “rich?” Common answers might include: Having at least a million dollar net worth, being totally debt-free, living a chosen lifestyle, owning a house and landscaping it or running a flourishing business, affording to take several trips a year, buying desired luxuries, and being able to give to charities. You can appropriately consider yourself to be financially self-reliant when your income exceeds your expenditures, and your asset values stay ahead of inflation rate. But there is no definitive line that divides the rich from the financially stable. Wealth, after all, is in the eye of the beholder. Some people even value health as wealth. For others, spiritual wealth might be their priority. For the wealthy, there never seems to be enough wealth. Their goals continue to grow in direct proportion to their pocket books. Wealthy people generally continue to pursue growing assets, and their ability to generate income does not retire when they do. They make intelligent financial decisions that allow their money to work for them. Financial knowledge is even better than money. To prioritize money over financial knowledge is to put the cart before the horse. True wealth is a state of mind. Continuously pursue updated financial thinking, and there will never be a hole in your pocket. Michael Benifez demonstrates the financial advantages of landscaping in his article How to Increase Property Value where you can find an every growing library of landscaping advice online at www.Plant-Care.com everyday. |
