The Different Levels of Wealth Categorized and Explained

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It is probably not a surprise to anyone that being “rich” is in the eye of the beholder. It is a very individual definition based on one’s own needs, wants, and distance in between those elements. It can be useful to have a framework, or a lens, through which to view different levels of accumulation and wealth.

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This can make it much easier to relate to other situations as well as align your financial resources with your higher-level goals and horizons of focus. Passive Income MD suggests one such framework, based in part of how one successful technology company founder views his own fortune.

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“Does that eliminate stress in your life?” Raz asks. “Does that mean that everything is set, everything is taken care of?” Butterfield said that he believes there are three levels of wealth in the world, and knowing where you’re at depends on how you think.

Butterfield’s Three Levels of Wealth

1. I’m not stressed out about debt – meaning people no longer worry about their credit card bills or student loans. 2. I don’t care what stuff costs in restaurants – meaning it doesn’t matter how much you spend on a meal. 3. I don’t care what a vacation costs – the “ultimate level,” meaning you don’t care how expensive a hotel is or which flight you take.

Beyond the ultimate level, Butterfield said that additional wealth doesn’t really matter or make any other impact in his life. In fact, he says he aims to give almost all of it away, because he doesn’t think he’ll get additional happiness from spending it, and there’s a lot of suffering and inequality in the world.

These are powerful words. Not only that, but it’s so refreshing to hear someone distill the vast complexities of wealth and finance down to such simple terms.

Here I was thinking of wealth in terms of a specific number or a huge landmark, like reaching financial freedom from medicine. Of course that’s important, but when you think about it, what really matters about wealth is how it impacts the smaller things in your daily life.

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