Wealth’s true meaning illustrated through history’s words of wisdom

Billionaire Warren Buffett, Ancient Greek philosopher Plato and actor Steve Martin may help shape your thoughts about money.

What is true wealth? If you want a mild brain explosion, simply go and Google that question.

According to the internet, you may discover that true wealth is “an inner condition of being”, and “an abundance of what is truly valuable” and “adequate physical possessions to live and flourish as a human being”.

Or, for extra-nerdy finance nerds, true wealth is “the ratio of your total assets divided by your annual salary”. Whaaaaaat?

It’s generally accepted that true wealth is about more than money. It combines the words “well” and “health”, and a common view is that wealth is the freedom to spend your time doing what you want to do instead of what you have to do, and not being worried about what your future holds.

That’s why people who have loads of money are often envied by the vast majority who don’t.

However, there’s a big spiritual component to wealth – because money doesn’t buy happiness and respect.

Ancient Greek philosopher Plato had an interesting view of wealth.

One of the world’s richest women died just over a week ago, and Queen Elizabeth II is being celebrated for her lifetime of service and resilience rather than the billions of dollars she has left behind.

While ideas about wealth differ among all of us, it’s worthwhile examining to the words of those widely viewed as successful, wealthy or having a good knowledge of the subject.

Starting with the obvious, let’s look at US investor Warren Buffett, aged 92 and ranked as the world’s seventh richest person with a net worth of $US97 billion ($145 billion). Mr Buffett’s words of wisdom on investment, money and debt have inspired countless financial success stories.

Among his sage advice about stock markets, there is this powerful quote: “I measure success by how many people love me – and the best way to be loved is loveable”.

Next, let’s head over to ancient Greece for this gem from famous philosopher Plato: “the greatest wealth is to live content with little”.

Alfred Nobel, the renowned Swede who established the Nobel prize, had a similar view to Plato: “contentment is the only real wealth”.

Great ideas chaps, but we should remember that having too few financial resources not only stokes jealousy towards those who have plenty, but also adds stress, sickness and sometimes starvation to poorer people’s lives.

Actor Steve Martin’s view of money and wealth is hilarious.

I love this quote US entrepreneur and motivational speaker, the late Jim Rohn: “time is more valuable than money – you can get more money, but you cannot get more time”.

Don’t be blinded chasing more money than you will ever need, only to run out of time to enjoy it.

And in today’s world of crazy consumerism, this quote from comedian Steve Martin is brilliant: “I love money. I love everything about it. I bought pretty good stuff. Got me a $300 pair of socks. Got a fur sink. An electric dog polisher. A gasoline powered turtleneck sweater. And, of course, I bought some dumb stuff too”.

There is a treasure trove of interesting wealth-related wisdom and quotes, available through a simple online search, that may help shape your views and inspire you.

I’m still trying to figure out true wealth, and I’ve been writing about money for 24 years.

That tells me that being wealthy is about much more than your bank balance.

Originally published as Wealth’s true meaning illustrated through history’s words of wisdom