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EPISODE · Mar 7, 2022 · 13 MIN

Accumulating & Appreciating True Wealth

from The Daily Mastermind

Let's Talk about Wealth...What and How do you define TRUE Wealth?   Examples of Wealth categories: Health, Relationships, Time, Family, Knowledge, Money, Assets, etc.   3 most Important Types of Wealth: 1- Health 2- Relationships 3- Finances   Note- truly determine what factors are important to you in each...   #1- Health- state of high energy and enthusiasm Health is the corner stone of wealth that affects all other wealth categories. Several parts....not just physical.... ...energy...enthusiasm...body and mind   Formula for great health is made of of diet, exercise, attitude and mindset. Mental discipline can be considered a key ingredient of physical and mental health. Benefits: manage stress, anxiety, better energy, clarity, peace and self image and confidence. NOTE- water is a key ingredient of great physical health.   #2- Relationships- love, respect, admiration and closeness with other people in your life. Many areas of relationships...partner, family, friends, and partners... Take inventory often...build and maintain Key ingredients to improve your relationships...TIME and APPRECIATION (gratitude) NOTE- learn to prioritize this type of wealth and VIEW it as a true asset in life...will influence other areas.   #3- Money Wealth- accumulation of assets, security and lifestyle Most people don't track...this is key to accomplishing anything. What are your numbers? What do you want? What are you trying to accomplish in life, business and lifestyle? 4 Critical Areas or Steps to Accumulating and Appreciating Money Wealth 1- Attitude- abundance, value, investment v expense, gratitude 2- Protection #- emergency cash to cover your needs for 1-2 years 3- Independence #- enough cash or investments to cover your needs without active income (but don't stop active) 4- Freedom #- enough cash or investments to cover your "wants" and lifestyle   NOTE- Money is a result...of mindset, activity, strategy and focus. Money is a tool not a destination. Money is simple but requires discipline and consistency. Learn to budget, track, focus and value the money you have. How you do anything is how you do everything...   thanks for listening today.  see you tomorrow. George Wright III                

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Accumulating & Appreciating True Wealth

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All right, welcome back to the Daily Mastermind. George Wright III here with your daily dose of inspiration, motivation, and education. And we're starting out a new week. It's Monday morning and I've been traveling for a couple of weeks and so I'm super excited to be back in the home office with you and sharing some thoughts and ideas.

As you may recall, and for those of you that are new to the podcast, every single Monday we've been covering a program called Creating Your Ultimate Destiny by Robert Stubert. It's 12 secret strategies, things that you can do in order to truly design the life that you were meant to live. And over the last few weeks, we've done about eight weeks now, we've covered things like your beliefs, your decisions, your actions, your identity, your education, your focus, your unique talent, and even your emotions and feelings. And I encourage you to go back and listen to those episodes because they really do build upon each other and they really are key critical things that can help you to create the life that you really, really want to be living.

So I'm going to go ahead and I'm going to start today's topic, which is a great one. This is one that most people unfortunately are focused without the shoots, without building a foundation. And that is accumulating and appreciating wealth. Your real wealth definition, what it is you're looking to accomplish with your money.

And it's not just money. Wealth is really anything that you accumulate an abundance of or that you value. You know, you can value money, but there's so many other things as well. You know, the value of wealth is also pretty subjective.

You know, everyone has a little bit of a different idea of what they truly value as wealth. And I think it's important that you get really clear on what it is that's important to you. And if you've been going through this program with me on creating ultimate destiny, I think you've found that you have learned a little bit more about what it is you value and how you can create more happiness, fulfillment, and things in your life. But today, what I want to do just for the sake of time is I want to talk about what I believe are the three most important types of wealth that not only you should be accumulating in your life, but things that you should literally focus your energy on.

And the reason I'm going to pick these three is look, there are a lot of areas of wealth that you can build. You know, your wealth is your health, right? Your relationships are a type of wealth, your time, your family, your knowledge, your money, your assets. There's so many types of wealth in your life, which are areas that you accumulate and you appreciate.

But the three I want to talk to you about today are number one, your health, number two, your relationships, and number three, your finances, the money, really the money. And, you know, if you truly sit down and think about what factors are important to you in each one of these areas, it'll always be a little bit different. You know, what you value, what you prioritize, what you feel is most important. It's very, very important that you take some time to determine that because those benchmarks, that's the litmus test for what you're going to be working on in these three areas.

So let's start right out with your health. Now, for those of you that know me, you know that health is a really big thing for me. I believe it's a daily ritual. Many of my daily rituals are focused around health.

But health is really, in my mind, a state of high energy and enthusiasm. It's being able to feel energetic and enthusiastic about life. It's not just the physical body. Health is really, in my opinion, a cornerstone of all wealth because I think it will affect everything else you have.

I mean, you've heard the saying, you know, money's going to do you no good if you don't have your health. And it doesn't matter how much money you have if you have health problems. You know, you can't buy your health back for the most part. So it's very important to understand that health is a really big, I believe, number one area of wealth you need to accumulate and appreciate.

And when I say appreciate, I don't just mean grow. I mean you have gratitude for it. And there are several parts of your health wealth equation, and it's not just physical. I believe when I said earlier that it's energy and enthusiasm, it's the body, but it's also the mind.

You know, you have to have a healthy mind, a healthy spirit, a healthy body in order to truly have strong wealth when it comes to your health. So a great formula for increasing and gaining better health is always made up of those consistent building blocks of your diet, your nutrition, your exercise, your attitude, and your mindset. You know, you've really got to find a way. And there's so many different, I'm not going to get into today the different types of diets and nutrition and things like that.

But what you need to understand is that your body is a science. The calories you put into it, the calories you burn, your daily caloric intake. It's very important for you to at least know what that is. It's like anything else, even money.

If you don't track it, you don't understand it, you're never going to be able to build it. But what I wanted to emphasize for just a second is that your mental health is so important. Right now, people have been struggling a lot with mental health, but mental discipline is a key ingredient of you being able to gain physical and mental health. And so I want you to really prioritize mental discipline in your life because mental discipline and health in general, it's going to help you to manage your stress and your anxiety, and you're going to gain more energy and clarity and peace of mind.

It'll help you with your self-image and your confidence. And as we know, all of those things go into and directly affect your relationships, your business, your income, and your wealth overall. And so it's very important that you really prioritize. That's my message I wanted to get with you.

Prioritize your health. And one more note I'll make about health is don't forget how much of a key ingredient water is. Your brain is made up mostly of water. Your body is made up mostly of water.

So many of us feel like if we have some water, but it's got caffeine in it, that doesn't accomplish the same goal. I'm talking about pure water. Try to do as much as you can to get a gallon of water every day. That's something you will see massive benefits for, even in your energy levels.

So let's skip over now to the second area of wealth I really want to emphasize, and that's your relationships. Now, many of us feel like we prioritize our money. And many times in my life, I did money, business, career, and things first so that we have the ability to focus on relationships. But I believe you have to start with your health and your relationships.

I've learned in my life that relationships, you know, what we're talking about here is love and respect and admiration and closeness with the key people, the most important people in your life. And this could be your partner, your family, your friends, business partners, associates. But I really think it's time you take an inventory and truly analyze the wealth that you're creating with all of the specific, very important relationships in your life. With my kids, I have them each written down and I try to analyze where I am and building and accumulating wealth with that particular kid.

And I think that it's important for you to look at your relationships as a key area of wealth. And when you do that, what you do is you start to improve them. And the best way to improve your relationships is two things I've found time and gratitude, time and appreciation. When you focus time and I'm talking about quality time with relationships, they'll grow.

And when you are truly grateful and not only have gratitude, but show appreciation for your relationships, that will also grow them. And so I highly encourage you to prioritize this type of wealth in your life right alongside your health and view it as an asset. View your relationships as an asset. I've met really, really successful individuals that have family businesses that view their key relationships in their family as an asset.

The family is an asset. So really focus on that and it'll also influence the other areas of your wealth like your money because having great, strong, healthy relationships can be a real catalyst for you to create real monetary wealth as well. Now, the last area I want to talk about quickly today is your money wealth, your asset wealth. And this is the accumulation of monetary assets, financial security, and lifestyle.

That's kind of what I lump into this money wealth category. And most people, I think the number one problem, the number one issue that most people have, the reason they are in the 95% of people that can't retire when they're 65 and they're in the mass amount of people that barely get by check to check is because number one, they just simply don't track it. They don't track it. Are you tracking where your money is going?

Are you viewing every single dollar that's going out of your bank account as either an investment or an expense and knowing where those are going? What are your numbers? What is it that you're having come in and go out every month? Do you analyze it or do you justify it?

Do you rationalize spending money when you shouldn't on things because you rationalize the reasoning? What do you want in your life? What is it you're trying to accomplish? You can't grow wealth when it comes to money if you don't know exactly what it is you're trying to accomplish with your life, your business, your lifestyle, how you want to live your life.

But even with those thoughts in mind, I want to suggest four real critical areas or steps to accumulating and appreciating true monetary wealth. And the first one

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Let's Talk about Wealth...What and How do you define TRUE Wealth?   Examples of Wealth categories: Health, Relationships, Time, Family, Knowledge, Money, Assets, etc.   3 most Important Types of Wealth: 1- Health 2- Relationships 3- Finances   Note-...

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