Wealth is commonly defined as the total value of assets owned by an individual, organization, or society, excluding any outstanding debts or liabilities. Typically, this includes financial and non-financial assets such as cars, jewelry, and other personal possessions.
However, wealth isn't just about owning cash, stocks, bonds, real estate, etc. Wealth can be defined in many ways beyond just financial resources. People commonly believe that wealth is solely about having more than enough finances but it's this perception that typically makes their lives harder.
In this article, we continue our interview with Rachel Krider to understand how she views wealth and how her belief about wealth has translated into her activities in Prosperity Of Life.
According to Rachel Krider, this is the most common misconception about wealth.
We asked Rachel Krider about what she thought is the most common misconception that people have about wealth. She replied:
"What's the most common misconception people have about wealth in your opinion? I don't know about people but I know for myself a very common misconception that I had was that you had to work really really hard to make a lot of money. It was a belief that I held since childhood. It was an idea that I sort of bought into just from different conversations that I had with my parents and my grandparents, you know 'Rachel go to school, get an education, and work really hard,' and you can create success and wealth."
Because of this belief growing up, Rachel highlighted her need to find the "struggle" in everything. She continued:
"And so that was what I was doing when I was holding that belief. And the perception was I was making the "building of my business" and just the "living of my life" hard.
I felt like if it wasn't a struggle or if I wasn't creating struggle, then I wasn't going to get the result at the end of the day which was the wealth.
When and how did your perception change?
It's clear that Rachel Krider's old perception of wealth and hard work had changed. If you follow her talks during Prosperity Of Life Live Events, you'll see how drastic her perspective has shifted with regard to success. We wanted to know the triggering factor behind the change in her perspective:
"I had a wake-up call. One day I was working through one of our programs, the Beyond Freedom Evolution action program.
And I, all of a sudden saw this concept of working hard in a completely different light. Yes, you have to apply yourself. Yes, you have to put in the time. Yes, you've got to hustle and have a good work ethic.
All of that is true, but it doesn't have to be created as hard. And in fact, I started to approach things in a more light and breezy way. You know, this is fun and simple and magical. When I had that switch in my perception, that number one, any problem that I might be facing in my pursuit of attracting wealth can be solved."
Now, how do you apply your new perspective about wealth and success to your work?
Armed with a more optimistic perception about achieving the things that she wants in life, we asked Rachel how her new perspective translates to her work today:
"I've got the tools and the resources at my disposal in which to figure out any problem that needs to be solved to attain that next level. But it does not have to be hard.
In fact, when I am finding something hard, I've got to walk away from it. Clear my mind, clear my thoughts, and go and do some yoga, go for a walk, come back, and have another crack at it.
And what do you know the answer is, they're the people, the circumstances, and the events. They all, you know, they all present themselves to solve whatever problem you might be facing to get to that next level.
So it doesn't have to be hard. If you find something that you can really believe in and put your efforts into your good work ethic, it doesn't feel like work anymore.
It doesn't have to be hard and you can get a lot of joy out of what you choose to do to create wealth in your life. If you align your values and your passions with what it is that you're pursuing."
Summary: Wealth is not just financial.
There is often a tendency to equate having a lot of money with happiness or success. While financial resources can certainly provide comfort and security, they are not necessarily the only or even the most important factors that contribute to a fulfilling life.
Research has shown that these factors are also important predictors of happiness:
Social connections - Having a strong network of relationships and connections can be a valuable asset in many ways, including access to resources, information, and opportunities.
Knowledge and expertise - Possessing specialized knowledge or expertise in a particular field can be a valuable asset that can lead to career success, recognition, and respect.
Time - Having the freedom and flexibility to spend your time as you choose can be considered a form of wealth, especially if you're able to pursue activities that bring you joy and fulfillment.
Health and well-being - Being in good health and feeling content and fulfilled can be considered forms of wealth, as they allow you to enjoy life and pursue your goals and passions.
All of which Rachel Krider has found as she is building Prosperity Of Life. Of course, having financial resources can also be an important aspect of wealth, as it can provide security, opportunities, and the ability to pursue your goals and dreams. However, it's important to recognize that wealth can take many forms beyond just money.