Wealth creation is not about managing finances but about creating a rich life of fulfilling relationships, good health, leveraging the expertise and leading with wisdom. You can look at these different wealth and explore them through your life journey.
The dictionary meaning of Wealth is –” a plentiful supply of a particular desirable thing” or “the abundance of valuable tangible/intangible possessions or resources”.
For many, wealth conjures images of money or other tangible assets, but true wealth encompasses a richer perspective. True wealth goes beyond financial resources.
Ratnesh, Co-Founder of Aarohi Life Education, expands the definition of wealth to include 5 crucial aspects: Relationship Wealth,Health Wealth, Expertise Wealth, Financial wealth, Wisdom / Spiritual wealth.
It’s about building a life rich in experiences, connections, knowledge, and well-being. Imagine wealth as a toolbox filled with different tools, each crucial for creating a fulfilling life. Let’s explore these five pillars of wealth and how they empower our lives.
1.The relationship wealth – The Power of Connection
The people you surround yourself with play a large role in determining the quality of your life. Strong relationships are the cornerstone of a happy and fulfilling life. They provide us with a sense of belonging, support, and love. Surrounding yourself with positive and genuine people strengthens your emotional well-being and boosts resilience during tough times. Relationships are fostered with accountability. Accountability creates credibility, so take ownership.
Investment – Time and effort in nurturing positive relationships. Reach out to people, show interest in their lives, and be a dependable person yourself. Be part of communities of your choice. Have a versatile circle of mentors, coaches, peers, and friends from all walks of life.
2.Health Wealth – The Power of a Strong Body and Mind
Taking care of your physical and mental health is the foundation for a well-lived life. Nutrition, Fitness, and Sleep are 3 integral pillars of Health. They nurture you with the required fuel, energy level, and focus. Prioritizing healthy habits allows you to experience life to its fullest potential. Imagine being energized to explore your hobbies, try new things, and conquer challenges – that’s the power of health wealth.
Investment – Develop healthy routines for eating, exercise, and sleep. Explore physical activities you enjoy, like sports or dance, and prioritize getting enough quality sleep for optimal mental and physical health.
3.Expertise Wealth- The Power of Learning and Skills
Developing expertise in anything, from coding to playing an instrument, is a valuable form of wealth. It empowers you to solve problems creatively, opens doors to new opportunities, and fosters a sense of accomplishment. Learning new skills builds confidence and allows you to turn your passions into pursuits. Imagine mastering a challenging task, like coding your own video game, and feeling proud of your abilities – that’s the power of expertise wealth. Expertise stems from only one source – “Doing”. Doing originates from curiosity. Identify your interests and explore ways to develop those skills through courses, clubs, or mentors. Learn foundational skills. Have a beginner’s mind to explore things deeply. This article throws light on how doing can shape your life.
Investment – Let the compass of curiosity guide the journey of skill development. Identify your interests. Explore ways to develop skills in areas of interest. Enroll for courses, join clubs, or seek out mentors who can guide your learning journey.
4.Financial Wealth – The Power of Smart Money Management
Financial wealth is the ability to manage your finances responsibly. It’s not just about having a lot of money, but knowing how to save, spend, and invest wisely. This empowers you to pursue your dreams, from buying that new phone to saving for a course. Mastering financial skills involves setting financial goals, creating a budget, spending wisely, and exploring ways to earn money. The most important aspect of financial wealth is the “opportunity to have control of your time and invest that time to do something that you love. ” Aarohi Coversity mentors youth to covert their interest to profession.
Investment – Learn about budgeting and saving strategies. Talk to people about responsible money management and wealth creation. Set achievable financial goals.
5. Wisdom Wealth – The Power of Learning from Experience
Wisdom is the ability to implement knowledge and experience to connect and synthesize ideas across domains. It’s acquired through learning from mistakes (both your own and others), reflecting on experiences, and active observation. A wise person understands that setbacks are growth opportunities. It helps you to unlearn and relearn in an ever-changing world. Wisdom wealth bring self-awareness and ease the navigation of life. Wisdom wealth encourages you to think about the long-term instead of the short-term. It includes spiritual wealth as well. Check this article about how years of wisdom of being with children helped Ratnesh and Aditi to guide their daughter.
Investment – Deep observation of yourself, the people around you, and the world. Reflect on your experiences and learn from both successes and failures. Embrace challenges as opportunities for growth and development.
Wealth creation is a skill. Ratnesh says, “ Compounding is the main entity for any wealth creation. Compounding happens when each input or investment adds to the next one and the whole multiples – so that at the end of it 2 + 2 = 5 or more!”He shares the following are 3 principles of compounding.
- Sustained and continuous efforts/investments/deposits go into the wealth.
- Every effort or investment (irrespective of size and shape) into this wealth counts.
- Don’t focus on the wealth created, focus on the investments made.
Compounding Your Wealth
Think of these various wealth as investments that grow over time. Every effort you put into building one reinforces the others, creating a powerful synergy. A trivial thing can grow into a massive thing, and faster than most people realize.
Ideas compound, inventions compound, and everything around us is the result of compounding. Machine language to AI is the result of idea and experimentation compounding.
Compounding only works if you can give an asset years and years to grow. The long-term ordinary investments bloom into something extraordinary. But getting and keeping that extraordinary growth requires surviving all the unpredictable ups and downs that everyone inevitably experiences over time. Time is a constant invisible entity in every wealth creation. It gets converted to wealth. Be wary of where you invest your time.
More than intentions action matters. You may have good intentions of leading a healthy life. But a healthy life is earned only when you follow a healthy lifestyle of consuming nutritious food, exercising, and sleeping adequately. Compounding works on action and trust.
The Secret Ingredient: Consistency is Key
The key to building wealth lies in consistent effort. Small daily actions accumulate over time, leading to significant results. Just like a seed needs consistent watering and sunlight to grow into a strong plant, your wealth needs regular nurturing through consistent effort. Keep investing in smaller chunks of your daily routine to make these wealths, and you’ll be surprised by how quickly they grow and enrich your life.
Wealth extends far beyond the limitations of a bank account. A well-rounded life is earned by focusing on these five pillars of wealth – relationships, health, expertise, finances, and wisdom. However, financial wealth and wisdom wealth stem from the other three wealth i,e relationship wealth, expertise wealth, and health wealth. Invest more time in these three wealth, especially in your youth.