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There Are Actually 6 Kinds of Wealth. If You’re Not Considering All of Them, You’ll Never Be Wealthy
How many Americans exactly are significantly stressed about their finances? Seventy-five percent? Seventy percent? Sixty-five percent? The answer depends on which survey you believe and exactly how pollsters frame their questions, but one thing is for sure — the number is high. As a nation, we collectively lose a lot of peace of mind over money.
There are, of course, plenty of structural reasons for all this anxiety. Everyone from business owners to entry-level workers is worried about inflation and a potential recession. And, of course, there are also all the layoffs in the headlines and our nation’s paltry social safety net. But according to a fascinating recent CNBC article spotlighting the work of two “behavioral wealth specialists,” Wendell Clarke and Cohen Taylor, at least part of the problem is how many of us define the word wealthy.
Wealth is about much more than your bank balance
Ask many people what it means to be wealthy, and they’ll fumble around for a numerical answer. The exact figure might depend on where you live, what life stage you’re in, and whom you compare yourself to, but for many people the first impulse is to frame the question of wealth in terms of a particular amount…
