Why Do You Want to Become Rich? Money and Wealth Explained - Oddball Wealth (2024)

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Why do you want to be rich? Or, maybe you’re wondering how to become rich? These type of questions seem like they should have straight forward answers, but truth be told, they don’t. For some people, money and financial wealth isn’t necessary to feel like they’re rich or wealthy.

Why Do You Want to Become Rich? Money and Wealth Explained - Oddball Wealth (1)

Once you’ve finished reading this post, in the “comment section” at the end of this post, leave a comment letting us know what the term “rich” means to you. Also, let us know why you want to be rich?

Most people never take the time to ask themselves these types of questions. Instead, the majority of people just assume “being rich” is whatever they see, hear, or read in the media.

Here’s the thing… Overtime, I’ve found that the term “being rich” or “becoming rich” has a different meaning to every individual. I’ve also found out that financial, money, and other monetary reasons play a smaller role than what most people believe when it comes to becoming rich.

I know this to be true because many of my friends and family members all value different things and enjoyments which make them feel rich, and it’s usually not money.

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For example, one of my close friends loves to travel and travels frequently to new places and countries. It doesn’t matter how much money he has, my friend always finds a way to travel and is always planning for his next big trip. Exploring new places and experiencing different cultures fascinates my friend, and being able to travel is what makes him feel rich.

Another friend of mine is a huge health freak who loves working out and body building. His physical health and body is what makes him feel rich, not money.My mom is another example. My mom values family and friends over everything else. When my mom is surrounded by family and friends she feels like the richest person in the world, and would trade every financial resource available to be with the people she loves and cherishes.

What does “rich” mean to you?

Do you know what the term “rich” means to you? Do you know how to become rich? What do you value and would give anything to have or be with?

You should understand and know what being rich is for you personally. Otherwise, you’ll always be comparing yourself to your friends, acquaintances, and people you see in the media. You’ll always be trying to do the same things they’re doing, instead of what’s best for you.

Here’s what I think of when I think of “being rich:”

  • Financial Freedom – Basically having enough money to not have to worry about money.
  • Career Choices – To be able to work because I want to, not because I have to.
  • To have the ability and financial resources to help my mother with her retirement. I want to be able to help my mom out financially so she no longer needs to worry about money, and can spend her time doing the things she’s passionate about and loves.
  • To be able to drop everything in a split second, pack my bags and travel, or do whatever.

I encourage all of you to set some financial goals and life goals right now. By setting both financial and life goals you’ll have a better understanding as to what “being rich” means to you personally.

Leave a comment below for the following questions:

  1. What does being rich mean to you?
  2. Why do you want to be rich?
  3. How would you (or do you) use your wealth?
  4. How do you plan to become rich?

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Why Do You Want to Become Rich? Money and Wealth Explained - Oddball Wealth (2024)

FAQs

Why do I want to become rich? ›

Because being rich isn't just about amassing large amounts of cash — it's about what you want your life to look like. When you're thinking about your financial future, it's important to ask yourself: why do I want to be rich? Take a second and think about it. Do you want to have a luxurious lifestyle?

What is the point of becoming rich? ›

Being wealthy is about having enough resources to direct your own life on the basis of your own internal truths and needs -- not what your neighbor has or thinks of you. Housel ends by advising those who dream of more money to think hard about why they want more money.

Why do rich people become more rich? ›

Rather, they come from modest means and end up rich through hard work and savvy investing. Now, it's probably not a secret that a lot of rich people are able to get to where they are by putting their money into stocks and other assets, like real estate, that can gain value over time.

Why do rich people want more money? ›

Money provides status and connections. Big money makes you feel big, bigger than you are. The rich open doors – for each other. Rich people don't know and don't want to know about the lives of poor people, their bills, their empty fridges and pockets, their petty troubles and endless needs.

Why do we need you to be rich? ›

Why We Want You to Be Rich: Two Men, One Message is a non-fiction book about personal finance, co-authored by Donald Trump and Robert Kiyosaki. The book was first published in hardcover format in 2006.

Why do you want to make money? ›

Having money makes it possible for you to start a business, build a dream home, pay the costs associated with having a family, or accomplish other goals you believe will help you live a better life.

Why should you achieve wealth? ›

Wealth can enable us to provide and share resources—emotional and financial—with those we care about. When we help others get the education and opportunities they need to succeed, no matter how we choose to support them, we can share in the joy of their progress.

What is the mindset of becoming rich? ›

If you want to develop a millionaire mindset, you'll need to have a positive attitude, acquire knowledge, set clear goals, and make informed financial decisions. Once you do this, you'll be well on your way toward creating wealth and enjoying financial prosperity.

Why is it good to be wealthy? ›

Having a level of wealth can provide a sense of security and freedom, allowing for financial independence and the ability to achieve our goals and aspirations.

What actually makes you rich? ›

Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.

What makes a person feel rich? ›

For example, many preferred having a fulfilling personal life, enjoying experiences and maintaining a healthy work-life balance over having a large amount of money. The survey explored the importance of time versus money, revealing that 61% of participants value having time over having more money.

Why do people want to be millionaires? ›

Achieving the millionaire status can grant individuals financial independence and freedom. This implies the ability to make choices without being constrained by financial limitations. A financially free individual would have more time to pursue personal interests such as traveling or engaging in fun sports.

Why did people want to be rich? ›

Financial independence is another factor that motivates people to seek wealth. Being rich grants individuals the freedom to make choices without being solely dependent on others or external circ*mstances.

Do you want to become rich why? ›

I want to be someone who has the money to give someone else access, to give someone else opportunity. Like making more money isn't really just about me. Being rich or being wealthy isn't just about me. It's about being able to be attached to influence.

What is the motivation to become rich? ›

Financial freedom is often cited as the primary motivator for wanting to become rich. But what does financial freedom mean? At its core, it represents having enough financial resources to make choices without many financial constraints.

What is it called when you want to be rich? ›

Definitions of avaricious. adjective. immoderately desirous of acquiring e.g. wealth. “they are avaricious and will do anything for money” synonyms: covetous, grabby, grasping, greedy, prehensile acquisitive.

Why do I want to be a millionaire? ›

Achieving the millionaire status can grant individuals financial independence and freedom. This implies the ability to make choices without being constrained by financial limitations. A financially free individual would have more time to pursue personal interests such as traveling or engaging in fun sports.

What can I do if I want to become rich? ›

How To Get Rich
  1. Start saving early.
  2. Avoid unnecessary spending and debt.
  3. Save 15% or more of every paycheck.
  4. Increase the money that you earn.
  5. Resist the desire to spend more as you make more money.
  6. Work with a financial professional with the expertise and experience to keep you on track.

Are you happier if you're rich? ›

Using this data, which constituted over 1.7 million experience samples, Professor Killingsworth found that larger incomes “were robustly associated” with both greater happiness and greater life satisfaction. Further, there was no observed plateau in either happiness or life satisfaction at $75,000 or any other level.

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