If you’re in your early twenties, what is your definition of wealth and success?
There a many ways one can describe wealth either as a wealth of experience or financial wealth. There isn’t a right or wrong answer to this question but it can help you understand your money mindset.
Some will focus success quantified as monetary gains while others may point out the importance of relationships and experience.
Each of us can define wealth in our own terms. You don’t need to have a million dollars in a savings account, live in a mansion or drive a Tesla. You might consider wealth as wearing designer clothing as a sign of success or you may consider wealth as being comfortable and not being a slave to work.
And remember, how you picture wealth and success will determine the course of action you take throughout life. If you believe wealth is only measured through money and things, then you’ll find yourself assessing success of others by those measures. If you believe wealth is measured by comfort and loving relationships, the focus may be in a slightly different direction.
I don’t know if you can define wealth and success in your 20s. Chances are, unless you’ve made millions of dollars off of an idea or project, you haven’t made much money yet. Most are college grads looking for jobs or people in their late 20s looking to move up at their current jobs, so it’s tough to measure wealth and success.
I think the most important thing to look at when measuring wealth and success in your 20s is what you are doing to accumulate that wealth or success. Are you saving? Creating good spending habits? Learning how to balance needs and wants? Wealth and success is rare in your 20s, but the most important thing is that you are learning how to build that wealth and success the right way.
As a soon to be college graduate, I have no estate or money in the bank. Therefore, my definition of wealth is much different than what many people would answer. Wealth is not something that has to be tangible; such as property or an income. Wealth is anything that has value.
I was offered a full-time job after graduation with Northwestern Mutual Financial Network because of my wealth of knowledge and people-skills. I will, however, redefine my wealth one day to include the money that I have earned from my career as well as my investments and other tangible forms. But for right now, all I have is the education my degree has afforded me.