Don't Forget These 3 Other Types Of Wealth

We're going through a gold rush right now. It's easier than ever to make money. You don't even need to put in much effort or have immense talent anymore. I've not been employed by conventional means for over two years and I simply use my existing skills to earn a living. And if I'm honest, I'm not even doing the best that I can right now.

The internet and social media, knowing this, have capitalized on our attention. The near-infinite opportunities and FOMO have made us all obsess about being rich. Being rich is not inherently bad. It's actually a good thing. The more we have, the more we can do for ourselves, our family, and others. You have a duty to them all to be wealthy. Achieving monetary wealth is not the issue, chasing money is the issue. I find myself chasing money more than I'd like to admit. I know that in time, the quality of my work will be compromised. So I'm taking steps every day to go back to my roots; serving others.

Besides, having a large bank account, real estate, and stock are not the only forms of wealth we should be focused on. There are different types of wealth that we're taking for granted while we chase the almighty dollar. It's time we equally distribute our efforts to achieve real wealth.

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1. Health is wealth

As we age, our bodies don't do the things we want them to do. We eat the same things, have the same habits, and expect that we'll be crushing it in our 30s and 40s. Unfortunately, that's not the case. I'm less than 2 weeks away from 35 and I have more aches and pains than I'd care to admit. I know I'm not alone:

About 80% of people will have back pain or chronic pain at some point in their 30s, 40s, and beyond.

Half the planet will need glasses by 2050.

Chronic diseases related to the heart, lungs, kidney, blood, and brain affect 6 in 10 Americans.

Half the world's population already has some type of sleep disorder.

Health is the foundation of everything else. If we aren't as healthy as we could possibly be, we won't be able to run businesses, satisfy client needs, and create content that others will enjoy. We can beat our competition just with our health. I'm working on improving my health, which will immediately improve my net worth. Take some time to do the same. Even one small change can make a big impact on your future.

2. Cherish your network

Humans are tribal by nature. We need like-minded people around us. Growing a network of people we can call on and who can call on us can do more for you than the money ever will. The more influential your network, the more impact you can have on your family, your community, your beliefs, and your income.

In 2019, someone paid over 4 million dollars for lunch with Warren Buffet. To most people, that sounds pretty stupid. He could have done way more with that money to help himself and others. Or could he?

Buffet could now be part of his network, connecting him with people where he can 10X, 20X, or 50X that investment.

Your network is today's currency as evidenced by social media followers. But the quality of your network is what matters. Spend some time getting to know the people in your space and helping them. Soon, you'll be able to connect with more influential and helpful game-changers. By building your network, you'll be happier engaging your tribe and achieve more wealth that going it alone.

3. Family matters

There isn't a day that goes by when I feel like I'm not spending enough time with my daughter and my partner. Since we're all home, my 6-year-old struggles to understand why I can't stop to play with her when I have deadlines.

Your family will forget all the things you've bought for them. Those things will run out, depreciate, or degrade. They will forget most of the things you've done for them.

But they won't forget how you made them feel. I'm working harder than ever to give her the time she needs. You can replace your work and your work can replace you. But your family is irreplaceable.

And as you get older, you'll want a family around you that you love and cherish and who does the same in return.

You need to spend quality time with your family, building meaningful relationships, trust, and love. Because if everything else was to fall apart, they will be there to help you pick up the pieces.

If you have your own family and all your parents are still alive, especially during these pandemic times, you have true wealth. Don't forget that.

Aim for a balanced life

Achieving monetary wealth is a valid cause. If my daughter, God-forbid, gets ill, "money is the root of all evil" will come in handy then, I'm sure. But we should not cut off our noses to spite our faces. We have to find some balance in our lives.

For starters, you have to look at ways to buy back your time. No matter how much you're making, there are things in your life you can outsource, automate, and optimize. Buying back your time also means focusing on investments. Make every dollar work so soon you won't have to. That's what will give you the space to work on your health, your family, and your network.

Until then, get in the deliberate habit of splitting your time to work on your health, your finances, your network, and your relationships in equal parts. If you're like me, your head has been turned by the many ways to make money. We need to come back to the present moment and focus on what matters.