• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Start Here
  • Our YouTube Channel
  • Mile High FI Podcast
  • About Me
  • I ♥ Longmont
    • Cowork In Longmont
    • Live In Longmont
  • Stuff We Like
    • Tesla In Ten Years
  • Best Credit Card Offers
  • Contact
    • Media
    • Guest Post

1500 Days to Freedom

Think different and escape the rat race.

1500 Days to Freedom
  • My Investments! (REAL TIME!)
  • Bucket List
    • Anti Bucket List
  • All Posts
  • Best Posts
  • Guest Post Policy
  • 10 Questions
  • Tesla In Ten Years

Redefining Wealth

January 27, 2017 by Mr. 1500 Days 15 Comments

I googled wealth the other morning and nearly spit out my cereal when I read the definition:

No.

This especially annoys me:

an abundance of valuable possessions or money

At its core. Financial Independence means having enough money to not have to make any more money. Got that? In other words, we worry about/save/invest money when we’re young so we don’t have to think about it later.

Money shouldn’t be the primary goal though. And possessions? Don’t even get me started.

Anyway, in my post today over at InvestmentZen, I redefined wealth. Click over to read my new definition.

Join the 10s who have signed up already!

Subscribing will improve your life in incredible ways*.

*Only if your life is pretty bad to begin with.

Thank you!! Please check your email to confirm your subscription.

There was an error submitting your subscription. Please try again.

Powered by ConvertKit

Filed Under: InvestmentZen Tagged With: InvestmentZen, wealth

Reader Interactions

Comments

  1. Team CF says

    January 27, 2017 at 4:51 am

    Great new definition of wealth, are you calling Webster’s dictionary or shall I?
    😉
    Team CF recently posted…2016 Portfolio AllocationsMy Profile

    Reply
  2. Personal Finance King says

    January 27, 2017 at 8:38 am

    I think it’s a matter of semantics. Money is not the goal, maybe, but it’s definitely necessary to achieve the independence that you focus on.
    Personal Finance King recently posted…Seven Insurance Commandments for Thrifty (Cheap) PeopleMy Profile

    Reply
  3. Mrs. Picky Pincher says

    January 27, 2017 at 8:41 am

    When I was in college I distinctly remember a CFP speaking to my honors club. It was my earliest exposure to the idea of FIRE, and I was astonished by his definition of wealth. He said “Wealth means living below your means. If you live below your means without debt, you are wealthy.”

    It was freakin’ mindblowing at the time, but looking back on it, he made so much sense. At the time I thought what he was saying was IMPOSSIBLE since I grew up believing debt was the norm.
    Mrs. Picky Pincher recently posted…How A $7 Planner Saves Me Thousands Every YearMy Profile

    Reply
    • Mr. 1500 Days says

      January 27, 2017 at 9:01 am

      That is awesome that you exposure to FIRE concepts in college! My first experience was finding MMM at the age of 38…

      Reply
  4. Dividends 4 Future says

    January 27, 2017 at 8:49 am

    Its almost asking, What would make you happy, if 30k a year would make you happy, then you are wealthy. I look at wealth more as a gauge of how happy you are with your life and how much you enjoy it and not the size of the bank account.
    Dividends 4 Future recently posted…Mid-January 2017 UpdateMy Profile

    Reply
  5. Smart Provisions says

    January 27, 2017 at 9:09 am

    “the state of being rich; material prosperity”.

    Hah! My definition of wealth is to have enough to be happy and prosper.

    Reply
  6. Financial Slacker says

    January 27, 2017 at 9:41 am

    My favorite part of that definition is, “he used his wealth to bribe officials.”

    That’s the best example they could come up with. Wealth means having enough money to bribe officials.

    Wow!

    Reply
  7. Kyle says

    January 27, 2017 at 10:19 am

    I’d probably agree with the official definition. Wealth would be I have a decent amount of money(more than average), If I’m considered wealthy, it’s synonymous with rich. Rich to me would be I don’t have to work or worry about money.
    The funny thing is the gray area where you have people who have lots of people who have millions but can’t afford to retire and at the same time you also have people with less than a million who can afford to retire. And the gray area of people considered rich who still need to work and people not considered rich but do not have to work.

    Reply
  8. Our Frugal Escapades says

    January 27, 2017 at 11:29 am

    We couldn’t agree more! Money is simply a tool we need to obtain in order to achieve our goal of reaching financial independence. In our view money=freedom, not “material possessions” as it states in the definition. We believe the true measure of wealth is in the life we’ve built (family, friends, home etc).

    Reply
    • Mr. Zero says

      January 27, 2017 at 4:55 pm

      ^^^^^^. Yes, Yes, Yes!

      Wealth = Freedom
      Stuff = Servitude

      Reply
      • Our Frugal Escapades says

        January 30, 2017 at 3:04 pm

        You got it!

        Reply
  9. Primal Prosperity says

    January 27, 2017 at 2:22 pm

    I like to use this saying: “Rich is having money, wealth is having time”.
    Primal Prosperity recently posted…“Some Travel, Others Journey”My Profile

    Reply
  10. Ten Factorial Rocks says

    January 28, 2017 at 6:30 am

    You knocked it out of the park with this liberating post. A friend remarked after seeing my series on DGI vs Indexing series, this is splitting hairs while most of America is trying to grow a single hair follicle on their (financially) bald head. I’ll let you figure that one out. ?

    Posts like these are important reminders on why “FI is mandatory, RE is optional” as I often say. Expose your CSU college students to some articles in our PF community and you’ll be doing them a great service. Far better ROI for the college kids than seeing some more cat videos on You Tube.
    Ten Factorial Rocks recently posted…Dividend Investing vs. Indexing – Part 3My Profile

    Reply
  11. Freedom 40 Plan says

    January 28, 2017 at 1:14 pm

    Couldn’t agree more. What a crap definition.

    To me, wealth is simply about having enough of everything. Not just money.
    Freedom 40 Plan recently posted…Consolidating Brokerage AccountsMy Profile

    Reply
  12. Mr. Tako @ Mr. Tako Escapes says

    January 29, 2017 at 8:06 pm

    Great post Carl! I loved it! Wealth *is* freedom!

    Keep up the excellent writing!
    Mr. Tako @ Mr. Tako Escapes recently posted…The Weighing MachineMy Profile

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

CommentLuv badgeShow more posts

Primary Sidebar

Follow Us!

Follow Us on FacebookFollow Us on TwitterFollow Us on RSSFollow Us on Instagram

Freedom!

My goal was to build a portfolio of $1,000,000 by February of 2017; 1500 days from the birth of this blog (January 1, 2013). And hey look, I’ve since retired!

Investments only (primary home excluded)
1/1/13 (The Start): $586,043
1/1/14 (1 Yr Later): $869,635
1/1/15 (2 Yrs Later): $987,351
1/1/16 (3 Yrs Later): $1,057,961
1/1/17 (4 Yrs Later): $1,257,128
1/1/18 (5 Yrs Later): $1,527,701
1/1/19 (6 Yrs Later): $1,549,440
1/1/20 (7 Yrs Later): $2,035,040*
1/1/21 (8 Yrs Later): $3,379,746**
1/1/22 (9 Yrs Later): $4,762,642
1/1/23 (10 Yrs Later): $3,112,821

2023: Investments only
1/1: $3,112,821

Overall
2023 investment gains: $0
Investment gains since 1/1/2013: $2,526,778
Net worth***: $3,342,821

* The big jump between 2019 and 2020 was partly because we bought another home, but kept the previous (much more expensive) one as a rental. We have since sold it.

** Tesla.

*** Includes our primary home equity in addition to our investment portfolio.

Finally, we still have about $290,000 in mortgage debt (which I love!). No regrets about the debts!

Featured in

Smiley face

Disclaimer

Investing is risky business. The information contained on this site is for informational purposes only. As with all matters financial, proceed with caution. Do your research and seek professional advice.

Get my annoying emails!

Join 1500 Days! (now 27% less annoying)

Subscribe to get great good pretty ok content by email.

Thanks so much! Check your email to confirm your subscription.

There was an error submitting your subscription. Please try again.

Powered by ConvertKit

All Posts

Read all the posts ever published to 1500 Days of Freedom.

© 2023 1500 Days to Freedom · Privacy Policy · Contact