Authentic Wealth is bigger than just financial accumulation – it recognizes the interconnectedness of all aspects of life. It is created when your resources (the 5 levers – Finances, Mindset, Relationships, Health and Time) are aligned with your values, your vision and are ultimately used to achieve the impact you want to have on yourself, your family, your community and the world.
FINANCES
What would you do if you inherited $1 billion dollars unexpectedly? This is a riff on one of my life planning questions – it can help you clarify your values as well as your dreams. Ruth Gottesman had the opportunity to live out this question recently when she made a $1 billion gift to the Albert Einstein College of Medicine in Brooklyn, New York. If I had to guess, Ruth has some core values around service and education as she had been a professor and is currently a trustee at the College – and I would guess she wanted to impact the diversity of the medical profession. This is the perfect example of dialing in your Finance Lever to align with your values and desired impact.
Read more here.
MINDSET
What is your definition of enough? This is a question that Morgan Housel asks in his book The Psychology of Money, one of our Abaris 5 Lever Book Club picks. Multiple clients have mentioned to me that this question really changed their mindset on wealth. Housel argues that without a clear sense of what “enough” is, individuals are at risk of perpetual dissatisfaction, constantly chasing more without ever feeling fulfilled. He suggests that understanding and setting your own boundaries for what is sufficient can lead to greater happiness, reduce stress associated with the pursuit of more, and help in making more rational and long-term financial decisions.
Learn more about the Abaris 5 Lever Book Club and let us know if you want to join in!
RELATIONSHIPS
I came across a quote that I had saved from the Rich Roll podcast with Surgeon General Dr. Vivek Murthy…. “Your problem is not having friends but not experiencing friendship…” And it was a good reminder that the quality of your friends/friendships matter far more than the quantity.
Here’s a link to the Podcast (100 minutes).
HEALTH
Whether it be for yourself or your kids, we know that excess cell phone use is detrimental to our health. And it is not just social media… it is also chronic habits like checking email all the time. In the last issue I mentioned turning your phone to grayscale (link to previous issue here).
Here is an app that I am testing that creates a pause in your habit (i.e. checking Facebook) – just long enough to make a different choice. I’m on the fence about using the app… if you try it, let me know what you think!
TIME
Cal Newport has a new book out called Slow Productivity: The Lost Art of Accomplishment Without Burnout. The author argues that we should emphasize doing fewer things but with more focus and intention rather than rushing through a never-ending checklist of to-do’s and activities. Easier said than done but good food for thought.
An interesting side note – the author believes that the “return to work” debate that has characterized post-pandemic work life is not about where we work but about “pseudo-productivity” – “the use of visible activity as the primary means of approximating actual productive effort”. This focus on visible busyness is really what is causing burnout and the pushback on returning to the office.
Cal Newport has been on numerous podcasts so you can find many options.
Click here for his recent appearance on the Rich Roll podcast (120 minutes)
