Everyone defines wealth a little differently. My own definition of wealth is in the form of an equation wealth=time. Time is my currency of choice. It gives me the freedom to do whatever I like with my life. For the last 2 days, I took my three little girls (8,4,2) sledding in in the afternoon while most of my friends were at work. We had a lousy winter in Chicago–cold but not very snowy. We had to get some sledding in while we could after getting a big snow fall!
Don’t get me wrong. As a general rule, I am not a leisure guy. I get bored very easily. That’s why I have 4 different businesses and am starting more as we speak. But that’s what is fun for me. My wife is a clothing designer. You can see her stuff at oliviajoffrey.com. She actually started out as an urban planner but designing clothes was more fun for her so that’s what she is doing and she loves it. Similarly, my art is creating businesses and finding unique investment opportunities. I say art because there is a certain creativity that goes with entrepreneurship and it is that expression of “art” that I enjoy most. In sum, wealth is being able to do what you want with your time.
What do you wish you could do more of in your life? What is stopping you? More than likely, the answer to that question is time. If that’s the case, time is your currency too.
For some, their calling in life is charity work. I believe it is very admirable to spend your life in the service of those less fortunate than yourself. However, you can often be more effective if you’ve got something, other than your time, to give. A great example of this is this week’s guest on Wealth Formula Podcast, Bill Manassero. His plan–build a real estate empire in the US to feed the poor in Haiti. I hope you enjoy the show.
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