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There Are 8 Indispensable Elements of Real Wealth and 7 Aren't Money

HIGHER PURPOSE

There Are 8 Indispensable Elements of

Real Wealth and 7 Aren't Money

Image credit: Lie | Flickr

Peter Voogd
Contributor
Leading Authority For Young Entrepreneurs
OCTOBER 21, 2014

Whats the purpose of life?

That's a powerful question that deserves your attention. My answer has drastically
changed the past five to 10 years, and will continue to evolve. Success is part of life's
purpose but I know that on the other side of success is the quest for more success,
more milestones, more achievements, more people to help and learn from, more
money to be made. That's great. Life becomes mundane and boring without goals and
dreams to reach for but I believe there is more to life and real wealth.

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There Are 8 Indispensable Elements of Real Wealth and 7 Aren't Money

Dont get me wrong. Becoming a millionaire is a valid desire for everyone, but there is
no higher success than building and maintaining a world class life with meaning and
significance. Awareness precedes choice, and your choices determine the quality of
your life. Ive put some serious thought into what makes a world class life. Here are the
eight forms you must adapt and start improving if you want to live an exceptional life
with no regret.
Related: Find Your Purpose

1. A world-class inner life.

Your outer world, who you are and the quality of your life, is 100 percent determined by
your inner world. Your inner world consists of your peace of mind, the quality of your
thinking and living authentically. Are you living your true values or doing things based
out of fear and worry? Your inner world determines your self worth and how connected
you are to your core.

2. World-class health.
Your health is a very important part of wealth. If you dont have your health, you have
nothing. At the end of your life, the things you now perceive as the big things might be
the little things. When we are young, we will compromise our health for wealth, but
when we are old we will gladly sacrifice all of our wealth for just a little bit of health.
Its extremely important to put health first, if you really want a world class life. We take
our health for granted until we lose it, then we spend all our waking time trying to get it
back. Those who dont make time for exercise must eventually make time for illness.

3. World-class family life.

Having loved ones around you, and being able to see your family whenever you
choose, is a crucial part of success. Gary Vaynerchuk told me his business is extremely
important, but a distant second to his family. The greatest support system in the world is
good family and friends. You cant be careless here, you need great relationships and
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There Are 8 Indispensable Elements of Real Wealth and 7 Aren't Money

those who make you better. Remember, you cant change your family, and trying to do
so will cause you endless stress and frustration. Love them and appreciate them for
who they are.

4. World-class profession/career.
The attitude you bring to your days determine your destiny and it's extremely hard to
carry a great attitude when you don't enjoy what you do. According to the new Gallup
survey "71 percent of employees are activity disengaged at work."
Be patient and figure out your strengths. Purposefully choosing (or creating) your ideal
professional is crucial to a world-class life. When you love what you do, youll never
work a day in your life. It's important to get to the end of your career knowing you gave
your best. Yes, unexpected circumstances do happen but you are in control of your
own future through the choices you make. Life is not easy nor promised, but it's how
you adapt and adjust that determines what happens next. Never settle.
Related: 7 Steps to Find Meaning in Your Work

5. World-class financial freedom.

Less than 5 percent of our society will be financially stable by age 65. WTF? Money is
extremely important and makes the world go round. It also gives you one of the most
important aspects of a world-class life -- freedom.
Money allows you the choices to do what you want, when you want, wherever you
want, so you can live on your own terms. Whats your game plan to assure a financially
free future?

6. World-class circle of genius.

You become who you spend the most time with. Are the people youre associating with
holding you to higher standards and challenging you? If you spend time with people
who are playing at a world class level, you drastically increase your chances of doing
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There Are 8 Indispensable Elements of Real Wealth and 7 Aren't Money

the same. Their ways of being will rub off on you. Youll adapt their philosophies and
perspectives.
Start surrounding yourself with people whose lives you want to emulate. Keep
company with those who are thinking and acting at an extraordinary level.

7. World-class experiences.
Ultimately, life is an adventure. Experiences and memories are what separate the elite
lives from the mediocre. Ive recently started focusing more on producing instead
of consuming, and valuing experiences over material things. I like both, and appreciate
the finer things in life, but after studying countless world-class people, its clear they are
constantly creating memorable experiences. What's the point of doing something if
youre not having fun?

8. World-class impact and legacy.

The worthiest aim of life is service to the world around us. How much difference are
you making in the world around you? Are you adding consistent value that improves
the lives of others?
Generosity the key that unlocks happiness. There is no greater feeling than when you
help or give to others, asking for nothing back. Whether it is a compliment or a small
gift, do something nice for somebody every day. Realize every tweet, every blog
post and every conversation you have is part of your legacy.
I challenge you not to postpone your life. Most say when I have more time I will take
time for myself but the reality is life waits for no one. Don't postpone travel or chasing
your dreams. Nobody knows when their time is up, so make the most of it by focusing
on these eight forms of real wealth.
Related: 4 Simple Actions to Lead a More Meaningful Life
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There Are 8 Indispensable Elements of Real Wealth and 7 Aren't Money

LEADERSHIP

The Importance of Developing an

Entrepreneurial Backbone

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There Are 8 Indispensable Elements of Real Wealth and 7 Aren't Money

The Importance of Developing an Entrepreneurial Backbone

Image credit: Ellieboat | Flickr

Terri Egan And Suzanne Lahl

Contributor
Pepperdine University Graziadio School Faculty Members
AUGUST 20, 2014

Many entrepreneurs are so focused on getting their businesses up and running that they
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leave too little time for personal and professional development. Between managing the
balance sheet and binge-working under constant self-imposed deadlines, they dont realize
the importance of developing their whole selves.
The fact is, all aspects of life -- relationships, career and health -- are interrelated.
After studying dozens of organizations, examining academic and scientific research and
teaching at Pepperdine Universitys Graziadio School, we have identified five dimensions on
which business owners and employees can focus to increase individual and organizational
capacity and agility: the spiritual, physical, intellectual, intuitive and emotional (or the acronym
SPINE).
Entrepreneurs are in a great position to build these elements into their organizations DNA:
Related: The 10 Unique Soft Skills Employers Desire in New Hires

1. Spiritual.
A study published in JAMA Psychiatry in May 2012 showed that people with Alzheimers
disease who had a strong sense of purpose in life had less cognitive impairment compared
with those who reported less purpose in life. Since the majority of people spend most of their
waking hours at work, finding meaning and purpose through their jobs may be related to
maintaining cognitive function in advanced age. Finding a job that provides purpose and
meaning is also important to being able to maintain equilibrium when working under pressure
or in disruptive and challenging environments.
Collect and communicate stories that highlight how the company positively impacts its
customers and the surrounding community.

2. Physical.
Rest is a physical need that goes unmet for a large number of people. When faced with
fatigue many people press on believing that they can simply catch up on lost sleep. A study
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published earlier this year in the Journal of Neuroscience linked sleep deprivation to
irreversible physical damage and a loss of brain cells.
Plus, sleep may also help clean out the mental clutter that accumulates in the brain during the
day. Recognizing sleep patterns and understanding the value of consistently receiving a good
nights sleep can help eliminate scattered thoughts and anxiety that accumulate throughout
the day. Also, changing the unspoken rule of today's corporate world such as the need to be
connected 24/7 will help employees prioritize sleep and think more clearly throughout the
day.
Model the value of being unplugged by instituting technology downtime in the evenings and
on weekends.
Related: The 4 Factors to Making the Best Decisions for You

3. Intellectual.
People's ability to put together complicated ideas to solve problems is dependent on working
memory. And working memory is negatively affected by stress and sleep deprivation. If
people are constantly anxious and stressed, they find it difficult to challenge assumptions and
connect to big-picture thinking. Decision fatigue is a reality; the quality of decisions often
deteriorates as the day goes on. People need stamina to be able to think creatively and
strategically throughout the day.
Entrepreneurs should organize their workdays so that their important decisions are made
during prime time, when they and their employees are at their best. Institute a decision
review board at the company that embraces the reality of fatigue and bias.

4. Intuitive.
Innovative and creative responses to disruption are a whole brain endeavor. Research
suggests that people are most successful in generating creative responses when they allow
time for healthy mind wandering, silence their inner critics and loosen up the constraints of
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There Are 8 Indispensable Elements of Real Wealth and 7 Aren't Money

their rational mind. This can be achieved by using imagination and understanding the
importance of setting aside time for reflection in a daily schedule.
Add breaks, walks and exercise periods into the workday. Signal the value of reflection time
by scheduling time for big-picture thinking and honoring closed doors.

5. Emotional.
Does the company value emotional awareness as much as intellectual acumen? Better
decisions come with connecting the social, emotional and analytic circuitry in the brain.
Compassion and empathy toward the self and others increases resilience, joy and well-being.
Let emotions take their rightful place in the organization.
Become an emotional investigator. Keep a journal and encourage others to start tracking their
feelings in real time. At the end of 30 days, see if new insights arise about issues that were
zapping energy and clarity.
Related: Fight Overthinking, That Destroyer of Decision Making

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