At the same time, you also don’t want to save all your money and never get to enjoy the things and experiences money can provide. (Personally, I lean toward the wealth side of the spectrum.) Obviously, you don’t want to spend all your money and then find yourself in an emergency situation where you can’t provide for your basic needs. You will likely lean one way or the other, but you should have a combination of both mindsets. The line between rich and wealthy is not well defined. Or maybe they want to leave behind a legacy for future generations. Perhaps they want to build a big nest egg so they can retire early. They are most concerned with accumulating assets, with money only being the catalyst. In contrast, wealthy people want to save and invest their money. These people are interested in earning money because of the things money can provide. They might want to go on lots of vacations and eat out at restaurants. Perhaps they want to have a large house and expensive cars. Rich people want to spend their money, either on material goods or experiences. How I define it: rich people want money so they can buy things, and wealthy people want money for the sake of security and freedom- real freedom, not lose-it-all-at-the-drop-of-a-hat freedom. Some people want to be rich, and some people want to be wealthy. It’s more important to think about why you want money, though. The two basic questions to ask yourself are: How important is money to you? And how much money do you want to make? In my opinion, financial goals are some of the easiest to define. What’s important is finding a balance that works for you.įor the purposes of this article, I’m going to focus on the financial and career spokes, and I will categorize the remaining six spokes as the “personal” spokes. Dissatisfaction in any of these areas will impact your overall feeling of success. If you neglect any one area, though, the wheel will collapse. Some of the spokes of your wheel may be more important to you than others. You can also use shading or color coding to indicate which goals are currently being fulfilled and which ones need more attention. The highest-priority goals should appear closer to the center. As shown in the example, you can divide the diagram up into smaller pieces so you can list out your individual goals in each category. You will likely have multiple goals in each area. In this example, there are eight “spokes” in the wheel: You can choose these categories for yourself based on what’s important to you, but as a starting point, here’s an example: You could have an incredibly successful career, but if you neglect the other areas of your life, you won’t feel like a success.Ī great way to make sure you have balanced goals is to make a “wheel of life,” which is like a pie chart showing the major areas of your life. Your career is only one aspect of your life. When defining success, you should think about all your goals, not just your career goals. Because everyone has different goals in life, everyone has a different picture of what success is. In the simplest terms, success means achieving your goals. For many, that’s still the definition of success, but it might mean something very different to you. The American dream used to mean a college degree, a secure job, a house with a white picket fence, 2.5 kids, and a car or two. Which is why I was compelled enough to include it in my book, Blue is the New White.Ĭonsidering its importance, I thought it would make a valuable LinkedIn article. Let's be honest, if finding success was easy, no one would be looking for it! So, when I came across the wheel of life, I immediately tailored it to my circumstances and have since been an advocate of it. I thought we'd be smarter than that by now.Īnyways, because success means different things to different people, I set out to find something that could be used as a guide to get there. One benchmark that will turn an "unsuccessful" person into a "successful" person.Ĭ'mon. One dream that everyone is inching closer to every day. They say things like "if you want the success you deserve." or "do you want to be as successful as these people.?" As if there is one universal definition for success. I talk a lot about success, that's no secret. DISCLAIMER: No, I am NOT the creator of the wheel of life.
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