Yesterday I was discussing what wealth 💰 meant to me personally. Wealth is an important and interesting concept. Even useful day to day. It gives guidance 🔜 and offers me a sense of freedom.
Wealth to me is my level of financial freedom 🆓. I can actually calculate it and reduce it to a simple number 🔢.
my wealth formula: liquid financial reserves / cost of lifestyle that makes me happy = financial wealth in months or years
Eg: 100.000 € savings/5000€ monthly cost = 20 months. Wealth of 20 months.
It shows that both parts of the equation are variables. Happiness 🐬 is a given.
Be happy with less or more, earn or save less or more. All have an immediate impact on my amount of wealth, i.e. financial freedom.
The same is true for small businesses. And financial freedom can be a basis for more innovation, risk taking, embracing change, creativity,…
Do you know your wealth? Personally and as a business?