Do you have a wealth imbalance? (not just financial)

And the two most important questions to ask yourself to get some balance back – fast!

I’ve been inspired to write this blog from two sources recently: my own personal experience, and a podcast I happened to tune into at what felt like a very opportune moment.

Wealth - more than just money

The truth is, when we see or hear the word ‘wealth’, our minds are very likely to jump to the association with money. These days especially, with the cost of most things seeming to rise repeatedly, it is hard not to think about money. But our preoccupation with it can lead to an imbalance, especially with other equally important areas of wealth in our lives, and we can lose sight of what is actually enough when it comes to financial wealth.

Do more, earn more, even be more. It’s no wonder life can start feeling like a race, one you’ll endlessly make comparisons in (and one you can’t actually win in any event!), and people often struggle with feelings of not being ‘enough’ in this pursuit of ‘more’ – e.g. ‘I’m not good enough’  / ‘I could / should have done more or be doing more’. No. Enough of that.

In fact, ‘enough’ is a really important theme for this blog, and some helpful counter-thinking to this quest for ‘more’. What is the more even for? What purpose does it serve? I think a better question is this one:

‘What is enough?’

I like this question so much because:

-        It’s so simple but actually powerful (the best questions often are!)

-        It can help us focus on what is actually useful, not unnecessary distraction

-        You can consider both sides – not having enough v having too much

Financial wealth is something that we can easily measure, even see (or guess!) about others, and make comparisons. Is this at least partly why we get preoccupied with it? And yet, if you asked someone what really mattered to them, are they likely to say ‘money’? Probably not. What would you say?  Whilst money is of course important, it isn’t the only indicator of wealth, and certainly not happiness. It can reduce unhappiness by buying certain things to meet our needs, sure, but just having more of it does not increase happiness.

This is why ‘what is enough?’, in its truest and simplest sense, is actually a really important question that we probably don’t ask enough. What means security as opposed to endless chasing when it comes to financial wealth? It might just be worth asking (and re-asking from time to time)!

Other important types of wealth

So what are these other indicators of wealth then? According to Sahil Bloom, the guest on the podcast (‘Feel Better, Live More’ by Dr Chatterjee)  I mentioned, and author of The Five Types of Wealth: A Transformative Guide to Design Your Dream Life’, in addition to financial wealth, there is also:

Time wealth (our most precious and finite resource, how are we using it, who are we spending it with, what are we trading it for? We have some freedom of choice here for all of these points)

Social wealth (the breadth and depth of our connections, e.g. who is in your ‘inner circle’ and how do you nurture those relationships? What about your local community? What is your earned social status (the respect and trust you have earned by your actions from those around you)?

Mental wealth (our connection to a sense of purpose, meaning, growth and our ability to create space in our lives to think, recharge and do more than just go through the daily motions)

Physical wealth (our health and vitality, to live our lives with vigour not just longevity)

Investing in your 'life wealth'

Just reading those other types of wealth, you’ll know how important those are too, in addition to financial wealth. What grows wealth? Just as for financial wealth, investment. Bloom maintains that you need to keep the ‘dimmer switch on’, even low, in these areas, otherwise they will atrophy. A small move, just something beneficial, is a small investment in your other areas of life wealth.

So the second key question today is ‘what can I invest in one of these areas, today?’ because there will be something, and it will make a difference! Perhaps you’ll be drawn to one of those areas and know that you haven’t invested for a while, or perhaps enough, or in a way that you know that would make a difference to you.

The other side of enough

I want to go back to the first question in this blog though – what is enough? I said this blog was inspired by personal experience, and I wanted to also touch on the flipside of the question, basically when you’ve had more than enough. After all, maybe somewhere else needs ‘less investment’ to give us that capacity to invest more meaningfully elsewhere.

That was certainly my case recently. I felt my social wealth and mental wealth were a bit off. Turns out I was over-investing… in the wrong things. My social connection was too focused on social media, I felt over-committed and overwhelmed, mustn’t miss a post, must be present. But I also blog, podcast and email. It became too much – in front of a screen and not in front of a person. And I am not here for that! I’m also working on a different focus for my mental wealth, a different investment rather than more of the same, very much connected to my need for a different kind of social connection.

And remember, whether it’s financial or not, small investments compound (as will our lack of investment unfortunately). As things change over time, it’s always worth re-asking questions like the two main ones in this blog, as simple as they sound, they often are the most effective – 'what is enough?' (both sides of that question!) and 'what can I invest today (that isn't necessarily money)?'

If you are finding both these questions tough to answer, don’t worry, that is exactly the kind of thing I help my clients unravel in my 1-1 coaching sessions: no judgement, only curiosity and compassion in helping you find the right answers. Drop me a message and we’ll start soon – kathryn@kbmindfulcoaching.com