Recently, my daughter asked me what being rich means. For her, at six years old, it was an innocent question as kids are wanting for many things and the concept of rich is often times based in material items. Her question led to a thoughtful conversation about how “being rich” is different for everyone. For some, it means accumulating material possessions or wealth. For others, it may mean sharing cultural experiences with loved ones. For others still, it may mean living a simple life without having the stress from obligations such as work or debt. Regardless of your definition it is important to remember that being rich is relative to you, your family, your lifestyle, and will likely change over time.
Understanding one’s meaning of being rich is an important part of my day-to-day interactions with clients. Our firm works collaboratively with our clients to determine what brings joy to their lives and build it into a personalized financial plans designed uniquely for them. Contact us, if you have begun to process what living the rich life means to you and would like help translating that into an actionable financial plan.