Freedom is true wealth

Money is essential for happiness, not because it buys happiness directly but because it allows us the freedom to pursue activities that bring us joy. Many people work hard to earn more, frequently at the cost of their time. This results in sacrificing valuable moments with loved ones.True wealth means freedom in various aspects of one’s life. That’s the difference between being ‘rich’ and ‘wealthy’. Many rich people have this insatiable drive to chase after something, whether it’s a promotion, business deal, luxury or fame. Meanwhile, wealthy people are at peace because they are satisfied with what they have.

The Stoics taught that the key to a wealthy life is cultivating indifference to things outside our control. Epictetus, a Stoic philosopher, explained, ‘We cannot control the external events around us, but we can control our reactions to them.’

When you set a goal like, ‘I’m going to earn six figures in three years,’ you’re thinking about outcome-based plans. However, outcomes are not entirely within your control. For example, you can work hard, but you might get passed over for promotion because of office politics. When that happens, you might get discouraged because you want to earn more money.

Nowadays, it’s easy to get caught up in constantly wanting more and comparing ourselves to others. By acknowledging that things like money and external circumstances are outside our control, we can free ourselves from the constant need to chase after them. Having this mindset is the first step towards achieving a wealthy life.