23 Oct The Torn Notebook: What is Wealth?
As you may know, investments are open for Tricord Global this month. This weekend I also hosted my annual Real Estate Mastery Workshop. All of this talk about building and creating wealth got me thinking about the definition. Last week, I posted a guest blog by our co-founder, David Briggs, about wealth being relative.
I remember a client of Tricord’s in Lilongwe, Malawi who told me a story once. As a respected, wealthy citizen, their family had a nice house with a kitchen and bathroom. Instead of toilet paper in the bathroom, though, an old notebook was strung up in the bathroom with pages torn.
It is interesting to think that the idea of wealth can be so universal and yet look so different. The majority of people in the US wouldn’t even think about using a notebook in the bathroom. Toilet paper is almost a given in our first world. So how do we define it?
Wealth is Relative
Wealth, after all, is a relative thing since he that has little and wants less is richer than he that has much and wants more.
-Charles Caleb Colton.
Anywhere in the first world, being out of toilet paper would basically never happen. If it did, a quick run to the supermarket down the street would fix the problem. In Malawi, that doesn’t fit into their culture. At the end of the day, wealth is relative. To me, it looks like good health, a connected family and success in my ventures. For my staff members, it looks like freedom from school debt, time to cook and a happy marriage. Our Africa contact defines it as a solid home, a TV and a wife and kids. There is no one vision of what a wealthy person is.
Wealth is Specific
We cannot seek or attain health, wealth, learning, justice or kindness in general. Action is always specific, concrete, individualized, unique
This works in tandem with the last point. Wealth is not a general term. Our cultures may form an idea for us, but it will look different in the specifics. For one, wealth is the security of a savings account, whereas another sees it as a constant cash flow for spending. It can mean $100,000 a year for a family in America or $10 per day for someone in Malawi. The individuality of wealth is to be treasured and sought after on an individual basis.
Wealth is Symbolic
Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.
-Franklin D. Roosevelt
Finally, wealth is not just the specific, relative things we have in our life. It always reflects back onto us. Wealth is a symbol of achievement, success, respect, care, love. When I see the good things in my life, I appreciate them because of what they say to me: “Well done, you made it.” Our contact in Africa sees his home as a symbol of his status and respect in his community. Similarly, your car or phone symbolize something deeper when you consider them a part of what makes you wealthy.
What does wealth symbolize to you? What does it specifically look like for you?
Investments CLOSING SOON!
Tricord is currently accepting new investors, but because this investment is such a unique opportunity, we have select times where we open it up. Unfortunately, that time is coming to a close soon. This Friday, October 27th, is the last day for investors to jump on this opportunity.