Alternative Forms of Wealth

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Covid has forced many of us to spend unprecedented amounts of time with a few people (spouses, kids, roommates). You’re wealthy if you still enjoy their company after six months of unbroken socialization.

You have a level of independence that goes beyond money. You can cook for yourself, do your own laundry, change a flat tire, and be alone without getting bored.

You can make small mistakes without crippling embarrassment.

You could leave your job if it got bad and find a better one.

You have emotional stability, accepting reality without it driving you crazy.

You can lead a productive conversation with a stranger from any background.

You don’t have to pretend to look busy to justify your salary.

You have enough time to prioritize eight hours of sleep with stress levels low enough to allow sleep.

You can say, “I have no idea” when you have no idea.

You have the patience to put up with petty hassle, annoyance, and delay. So many rich people don’t, and the stress it causes is a unique form of poverty.

You can speak non-offensive truths about your industry or company without fear of repercussions.

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Your expectations grow slower than your income. It’s the only way you’ll feel wealthy regardless of how much money you have.

As Warren Buffett says, the people who you want to love you do love you. It doesn’t get any richer than that, does it?

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Morgan Housel
Morgan Housel is a partner at Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal.
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