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Wealth: What Is It?

June 21st, 2009 · No Comments


This article is written by Scott Swenson

Wealth is a word that almost everyone uses yet fails to
understand. There are many definitions of wealth because
most experts fail to agree on a precise meaning. Therefore
it is essential we come to a basic agreement as to how the
word wealth is defined here.

The wealth definition I prefer is: An abundance of valuable
possessions or resources. It is interesting that this
definition does not use the term money. Let’s take a
closer look at the two parts of this definition.

The first part deals with the idea of abundance. To be
abundant is to have an over-sufficient supply of something.
We all have abundance in something(s), though we may be
abundant in things we do not want.

The second part of this wealth definition deals with the
concept of valuable possessions and/or resources. A
valuable possession or resource is one in which the owner
places great importance. This value can be derived from
personal affinity, sentimental importance, aesthetic
characteristics, item scarcity or a host of other factors.
Value is truly determined by each individual. It has been
said that one man’s trash is another man’s treasure.

Though money is not mentioned by name, it is referred to in
this definition. I believe that money is a valuable
resource that can help you obtain “valuable possessions and
other valuable resources.” In my opinion money is not the
goal, but rather a tool to help you get to your goal.

In Lewis Carroll’s classic, “Alice in Wonderland”, Alice
asks the Cheshire Cat which way she should go when at a
fork in the road. The Cat tells Alice that it depends on
where she wants to go. She replies that she doesn’t care
where she’s going and the cat answers, “Then it doesn’t
matter which way you go.” This is a very powerful concept.
If we don’t know our desired destination, we won’t know
where to go or even if we’ve arrived. Instead, we’ll
wander aimlessly always getting somewhere but not
necessarily where we want to be.

Our first task is to determine our destination. What is it
you want? Answer this question outside the limitations of
money. In other words, if you’re tempted to say “I want
two million dollars,” think about why you want the money.
What is it you are looking for?

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Scott Swenson is a financial trainer who has taught
thousands how to build personal wealth. Want to learn more
about how to build wealth fast? Claim Scott’s popular free
ecourse, available at: => http://www.TheWealthQuadrants.com
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Tags: Entrepreneurs · Strategy · Training and Coaching

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