List of essays on Wealth. Read these essays to learn about the true definition of wealth.
- 1. Essay on the True Definition of Wealth
- 2. Essay on: – What Does It Mean to be Wealthy?
- 3. Essay on Wealth is Not Everything in Life
- 4. Essay on the Relationship between Wealth and Happiness
- 5. Essay on the Relationship between Wealth and Power
- 6. Essay on: Wealth is Root of All Evils
- 7. Essay on: Is Wealth a Curse?
- 8. Essay on the Uses of Wealth
1. Essay on the True Definition of Wealth
Everyone wants to be rich and wealthy, but what is the real meaning of the word, “wealthy”? Wealth can mean many things to different people.
For instance, when you check it out from Merriam-Webster Dictionary, wealth means an abundance of valuable material possessions or resources. However, Robert Kiyosaki, the famous author of the best-selling book, “Rich Dad Poor Dad” has a totally different meaning of wealth. Kiyosaki defines wealth as “A person’s ability to survive X number of days forward”. He says that he was introduced to this definition from the brilliant inventor, Buckminster Fuller.
How Many Days Can You Survive Without Working?
For most people, they think that being wealthy equals to having a lot of money, luxury items, shiny objects, real estates, stocks, sports cars, yachts, and more. And the word wealth is often associated with success. When someone is successful, he or she is wealthy in the eye of the public.
However, when you think about it, does having a lot of luxury items make you wealthy? Not really. According to Kiyosaki’s definition, he focuses more on the freedom one can accomplish with his wealth than on wealth itself.
For example, if you own a million-dollar house, does that make you a millionaire? It depends on if you own the house free and clear or if you still owe the banks a huge portion of it. Kiyosaki takes debt into calculation. If you own a $200,000 car, but you increase your debt and you have to serve the loan payment each month, it does not make you wealthy.
Kiyosaki says that truly wealthy people are those who are financially free. They have assets that provide cash flow every month to cover their expenses. In financial terms, you need to ask yourself how many days you can survive if you stopped working today. How long can you survive with the amount of money you have right now?
If you are earning passive income from your investments for $5,000 per month, but your monthly living expenses are only about $3,000 per month, you are wealthy because you are able to retire, stopped work, and still are able to survive for as long as you want.
The Secret to Wealth is Gratitude
Another important factor you need to consider when it comes to wealth is your feeling. In an interview with Sir John Templeton, the investment pioneer who turned $10,000 into billions during the World War II era, Tony Robbins, the world’s number one success coach asked, “What is the secret to wealth?” And Templeton’s replied surprised Tony.
Sir Templeton said, “You know it. You teach it. It’s gratitude.” And continued to say that because if you have a million dollars, but you are not grateful for it, you can feel like you have nothing. On the other hand, if you have next to nothing, but you feel grateful for everything that you have, you will become the wealthiest person that you are going to know.
Therefore, it does not matter how much money you have. If you do not have the gratitude, even a million dollar can seem like a penny to you. So learn to be grateful.
2. Essay on: – What Does It Mean to be Wealthy?
The word “Wealth” is commonly used to describe someone who has a lot of money and possessions. This may be true to the public because we have been conditioned by the media and marketing to believe so.
When someone drives a luxury car, we see them as wealthy. When someone lives in an upscale neighborhood, we expect them to be earning more money and are wealthy. Is this true? Yes and no. Before we define someone as wealthy, we should look at their ability to live a life with financial freedom.
If someone builds a business that earns him a passive income of $10,000 a month without him working on it, and the money is enough to cover all of his monthly expenses, then yes, he is wealthy because he can choose to stop working and are still able to maintain his lifestyle.
Take Your Net Worth into Consideration
This is why money and wealth do not define how much you have. Another better word is net worth. Most media ranks rich people according to their net worth, and not how much money they have in the bank.
So it is not the amount of money you save that determines your wealth, it is the percentage of the nest egg that you spend.
There are a lot of professional athletes who make millions, but after they retired, they went bankrupt within a short couple of years because they spent all of their nest egg. Too many people are concerned with living a lifestyle that is beyond their income’s ability to allow for proper savings.
The one who makes the most money may not be the wealthiest. He can earn a million dollars a year, but if he has a high profile lifestyle to maintain and he spends it all, he is as good as someone who earns just a thousand dollars and has nothing left to show for by the end of the month.
Money is a Byproduct
This is where frugality comes into play. Take a look at most of the highly wealthy people like Bill Gates, Warren Buffett, Mark Zuckerberg, and much more. They live a frugal lifestyle. Rather than spending all the billions that they have made, they use the money for a bigger and better cause.
Highly successful people believe that money is a vehicle that makes dreams possible. And to them, money is just the byproduct of their hard work. It is the means to an end. And they do not focus on making the most money; rather, they focus on building their businesses and chasing their passion.
The moment when Mark Zuckerberg made his first billion, he could have chosen to stop and enjoy his life, which he did not. Instead, he chose to move forward and try to build something even better. The same goes for Elon Musk. When he sold PayPal to eBay, he could live a great life, but instead, he chose to follow his dreams to build Tesla and SpaceX.
Sure, you will see rich people pamper themselves with luxury cars and other expensive items, but please remember that those are the rewards of their hard work. When Elon Musk bought a McLaren cost $1 million, the amount is less than 1% of his net worth. Unfortunately, most people only see the material possessions and they spend a large portion of their money on buying expensive cars that they cannot really afford.
3. Essay on Wealth is Not Everything in Life
In today’s world, people are becoming more materialistic than ever and living a luxury lifestyle has become something to compare among each other. When you see someone shares that he just bought a new car on Facebook, you want one. And when you see someone went for holidays in Paris, you want to do that too.
So is wealth and money everything in life? Some people say that money is everything because without money, there is no way you can survive. This is a fair statement, but let us discover more about wealth and money, and how your life depended on them.
Money is Important in Where it Works
It is true that money is extremely important. Without money, there is no way that you can buy food for survival. Without money, there is no way you can live or pay the bills for your children’s education. People who say that money is not important simply do not have a lot of it.
However, please understand that money is only important in the areas where it works. For example, money cannot buy you time or happiness. If you think that money can make you happy, you are wrong. This is because happiness is a feeling, and you can control your feelings without external things like money.
Just focuses your mind on the happy moments you have had before and you will instantly feel happy. You do not need money or wealth to be happy.
Always remember that money is important because it is a means to an end. It is a score of how well you are doing in your life.
Treat Wealth as Freedom and Money as a Tool
When you are wealthy and you have a lot of money, you have more choices. You can choose to buy things that most people cannot afford and you can travel in class. Wealth gives you freedom, but not everything.
Besides that, money can work as a tool in materializing your desire. For example, money can buy you houses. You can use the money to materialize your dreams of visiting countries you have never been before or you can use it as capital to start a business. When you have more money, you can live more comfortably depending on your lifestyle. And you can even use the money to buy people food and build schools and houses for those who need them.
Therefore, money is a tool or a vehicle that helps you in achieving your goals and dreams. This is why people are busy looking for money, but they have forgotten that money is just a tool and most people are trying to earn as much as possible for the sake of earning.
Unfortunately, the media and our society have made us believe that money is everything. When you have the money and are wealthy, you can buy a big mansion, but it cannot buy you a family to live in.
More importantly, life is supposed to be more than just money and wealth. Family and friends, relationships, your wellbeing, growth, satisfaction, passion, and more, require your attention as well. Of course, the best is that if you can manage all and enjoy all. That will be a true success in life.
4. Essay on the Relationship between Wealth and Happiness
The relationship between money and happiness is one of the most debated topics for since ages ago. Some people believe that money can make you happy, while others think otherwise. It is a complex subject because it involves human feelings that cannot be quantified or measured.
Furthermore, happiness is state of emotion that can be understood in many ways by different people. There is a day-to-day momentary happiness that one gets out of little pleasures, and then there is a general satisfaction; the feeling of emotional well-being and contentment with life.
Wealth can bring a certain kind of happiness depending on the amount. First, we have to understand that money has the power to buy things that one desires, especially luxury ones, to fulfill one’s aspiration. This will lead to immediate happiness, but usually, the happiness dies out quickly as soon as people get used to the object.
This goes on to explain why someone rich can feel unsatisfied even when they have all the luxury objects like sports cars and a big mansion. On the other hand, someone poor can still feel extremely happy and satisfied when they earn enough to buy themselves a normal shirt.
Therefore, money and happiness are indeed significantly correlated at some point, but the relationship isn’t super strong.
Does Money Really Buy Happiness?
The relationship between money and happiness only holds for a certain kind of happiness. When surveys conducted and asked people to consider how happy or satisfied they are in general, yes, those with more money reported being happier and more satisfied.
However, when people are asked how happy they are from moment-to-moment in their daily lives, those with more money are no more likely to have experienced happy feelings.
Another important point to note is that money only makes a great reward when the pure effort is involved. For example, someone who was born in a wealthy family may not value money as much than someone who was born in a poorer family. If money is given to you without hard work from your side, you will not appreciate it and feel happy when you receive it.
Just like the oxygen we breathe at each moment or the clothes we are wearing right now, because we have used to these things, we tend to take them for granted. And when this happens, we associate that having these things will not make us happy.
People will never appreciate or happy to have something when they have plenty of it. Ask a 20-year-old and you will find that he or she wants luxury items more than time and health. Ask someone on their deathbed and they will tell you otherwise.
So can money really buy you happiness? The answer is yes, but only to a certain extent. When you have no food to eat or worry about having not enough money to pay for your basic living, then yes, money can make you happy.
Things will be different when you have a lot of money. This is just like giving more water to fish that is already in the water will not make a big difference. Try to give the same water to someone who is thirsty and are living in the desert, you will find a huge difference.
5. Essay on the Relationship between Wealth and Power
Another popular topic about wealth is its relationship with power. People often argue and to say that money brings power. How true is this? We will discover the answer here.
When we speak of wealth, the images that come into most people’s mind are big houses, expensive cars, and luxury items. Wealth is represented by money and the possessions. On the other hand, power is the ability to manifest our intentions, to change our environment, to require someone to do something to our desire, to have authority, and so on.
Can you find the similarity in both definitions? The truth is that wealth or money is one type of power. In other words, when you have the money, you can hire people to do works for you. With money, you can buy the organized labor of others, trading your money with their work, within the confines of the marketplace.
Wealth Brings You More Power and Vice Versa
Wealth can be traded for certain types of power. For example, you can use the money to influence those in the positions of authority, through both legitimate and unlawful method.
So when you ask the question, “Do you want power or wealth?” it is like asking if you want fruits or apple. Wealth is a subset of power. Both power and wealth belong to the same side of a coin. When you are wealthy, you can command higher power. And when you have more power, you can bring more wealth into your life too.
That said, someone who is wealthy tends to have better chances to succeed in life because they have both direct and indirect power to help and support them in their venture.
For instance, wealthy people can use its money to make a better deal for themselves, allowing them to make more money and become wealthier and have even more power. Someone who starts from the ground up will have to face many difficulties and challenges than those who started off with money.
Leverage Your Wealth and Power
Wealth and power are only useful when you know how to make good use of them. For example, someone who is working in a low salary income society can become rich if he knows how to leverage the resources he had. We often hear stories of how people turn from rags to riches, and it is true that wealth and power can be acquired if you know how to leverage them.
On the contrary, someone who has wealth and power may lose it all if he does not know how to manage and grow what he already had. We have seen professional athletes who made a lot of money at the peak of their career, but only to lose all their wealth and power after years into their retirement. The reason is that they do not know how to handle the resources available to them.
Therefore, if you are not wealthy or you do not have power or authority, worry not. You can learn to grow and climb from the bottom of the ladder. It is how you manage your wealth that determines how powerful you can be. And it is how you handle your power that determines how wealthy you are.
6. Essay on: Wealth is Root of All Evils
People often say that wealth is the root of all evils, how true is this statement? Well, this is what we are going to discuss here.
First, some people may think that having a lot of money and become wealthy is not a good thing, especially in terms of gospel and spirituality. For some people, the more money you have the less spiritual you will be. After all, they believe that in order to make money, you need to manipulate others or earn more from others when you can earn just enough. You are trying to make the most out of other people in order to get rich.
Is this so? Well, there are also sources that say otherwise. If money is the root of all evils, what do you have to say about money build churches, hospitals, put food on the table, and able to pay the medical bills for someone who is severely ill?
Well, perhaps, wealth is not really the root of all evils as most people know.
The Love of Wealth is the Root of All Evils
Wealth in itself has no potential power. It is the manipulation of wealth that creates evil. In other words, wealth is not evil, but the love of wealth is the root of all evil.
If you are rich, it does not mean that you are a bad person. If you are poor, it does not mean that you are a good person either. It can be either way and thus, wealth does not define if you are good or evil.
The problem is that people can become so obsessed with wealth that they are willing to do unlawful and unethical things. And when this happens, they are not driven by their conscience anymore. They are willing to do something bad that may be hurtful to the other in order to gain wealth.
Therefore, wealth is not the root of all evils, the love of wealth is.
Wealth and Money Work as a Magnifying Glass
Another important point to look into is that wealth is a magnifying glass. For example, someone who is kind, loving, helpful, and always care about the society, guess what will happen to him when he becomes rich? Well, he will become even more helpful and kind to others. He will donate to charity and support even more people who are in need. Now, turn it the other way round. What if someone unethical becomes rich and wealthy? Well, he will go on and do even more and bigger unethical things.
Thus, wealth can be a magnifying glass by bringing out who we are internally. Money and wealth have nothing to do with being good or evil. It is the people who own the wealth that get to decide whether they want to do something good with evil with the money they have.
Hence, when money falls into the hand of the bad guys, they will plan and do something evil. However, if the money falls into someone who has an angel’s heart, he will help and support others who are in need.
7. Essay on: Is Wealth a Curse?
“Is wealth a curse?” This is one of the hottest topics that people debate when it comes to wealth and money. So can wealth really be a curse? Well, it depends. There is no right or single answer to this question. It is not a math question with just one right answer.
When Wealth Becomes a Curse
Wealth can really become a curse when you do not know how to manage it. Many people will love to have millions and billions of dollars with them, but they never realize that with great wealth, comes great responsibility.
Imagine the people you love fighting over money. Imagine you found the girl of your dream and you intend to marry her and live with her for the rest of your life, but only to discover that she only loves you for your wealth. Now, imagine your children only care about your wealth and not you, how does this make you feel?
Thus, in this case, wealth can be a curse. When wealth is not properly managed, many bad things can happen and it may not bring you happiness in life.
When Wealth Becomes a Blessing
On the other hand, wealth can also be a blessing. Never to forget that it is money that builds the church, the house you live in, and also able to buy food to avoid hunger. When you are wealthy, you can use the money to save a lot of lives. You can pay the hospital bills for people who are in need. You can build schools for the needy children or donate it.
Not only that, when you have more money, you can bring a better and more comfortable life to your family. You can bring your children overseas and provide a better education for them.
Hence, in this case, wealth is a blessing and not a curse. When you appreciate and know how to manage your wealth properly, it can be a blessing.
Being Wealthy Means Being Grateful
Sir John Templeton said it well. He said that the secret to wealth is gratitude. When you are grateful for everything that you have, you will feel like you have more than enough. You will be happy, feeling blessed, and you appreciate everything and everyone around you.
Things will be totally different if you do not grateful for what you have. Even if you have millions of dollars in the bank, you can feel like you are the poorest of the poor when you are not grateful. You will feel sad, resentful, frustrated, and angry if you do not know how to appreciate things around you.
Therefore, wealth can be a curse or a blessing. It all depends on how you look at wealth and money. Learn from Sir John Templeton, one of the richest men during the World War II era.
You do not really need a lot of money to feel wealthy. Instead, choose to be grateful for what you have and learn to appreciate the people and things around you. When you do, wealth will automatically come to you.
8. Essay on the Uses of Wealth
One of the key reasons people are chasing for money and building their wealth is because of what money and wealth can give them. When you are rich and wealthy, there are plenty of things you can do than when you have none of them.
Wealth Give You Freedom
The very first thing you will have when you are wealth is freedom. Yes, money buys you freedom and gives you more choices in life. If you are rich, you can choose where you want to live. When you have the money, you can choose what to eat. And more importantly, you can choose to have the freedom of time when you are rich.
One of the most valuable things we have in life is our time. And when you are wealthy, you can hire, outsource, and delegate your work. This frees you up and gives you more time to spend on other more important things such as being with your family and the people that you love.
Of course, you can choose however you want to spend your time and to continue to work, or to retire. You can have a lot of freedom in your life when you are wealthy.
Wealth Grow Your Experiences
Another important use of wealth is that it can grow your experience. When you are wealthy, you can make your dreams possible. Many people’s goals and dreams are directly related to money. For example, when you are rich, you can experience traveling to countries that you desire, you can experience driving the sports car you have always wanted, you can dive in the Great Barrier Reef, and also attend seminars and workshops to learn new experiences.
In fact, most of the things that we want in life are nothing but experiences. Think about it, people want to drive a sports car not because of the car itself, but it is because of the experience that they get from driving the car.
Wealth Enhance Your Mortality
Besides buying you freedom and experience, wealth can enhance your mortality. When you are wealthy, you can buy nutritious food and supplement to prolong your health. You are accessible to better health and environment condition that enables you to live longer.
People who are living in the poorer country will not have the privilege to access the clean water or even nutritious food. So if you have the money, you are able to maintain a healthier lifestyle.
Wealth Can Make the World a Better Place
And finally, wealth allows you to contribute and make the world a better place. You can donate a portion of your money to help and support a greater cause. Just like what Bill Gates and Warren Buffett did. They started “The Giving Pledge” to encourage billionaires to donate and help make the world better.
When you are wealthy, a thousand dollars can seem like nothing to you, but to those who are less fortunate, this amount of money can save their lives.
Wealth can greatly impact your life and the lives of others. When you properly channeling wealth and handle it well, it can create a lot of positive ripples to you and the rest of the world.