Am I rich or poor? It’s a question many silently ask but rarely answer for themselves. Is it income, lifestyle, or peace of mind that defines our true wealth?
Am I rich or poor? It’s a question of perception, not numbers
Recently, my daughter commented on our small car, comparing it with others around us. I shared my reply to her on Twitter. That turned bit viral, and few asked me the price of the car (to judge my net worth), and few branded me as I am poor 🙂 (Sharing the tweet below) That small remark sparked a big thought in my mind — Am I rich or poor? Who decides this — is it me, my family, or the society I live in?
This isn’t just about wealth on paper. It’s about how we feel about our financial lives. For some, richness means a luxury lifestyle. For others, it might simply mean living without debt, peacefully and healthily.
How Society Distorts Our Financial Self-Worth
We often measure our wealth by comparing it with others. Live in a modest neighbourhood, and you may feel rich. Move to a more affluent area, and you may suddenly feel poor.
“Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.” — Will Rogers
Our perception of wealth gets hijacked by society. But in reality, whether you’re rich or poor should be defined by you, not the crowd around you.
If you live in a society where your neighbours are poorer than you, then you always feel RICH. Inversely, if you move to a wealthier society than you are, then you will always feel poor in yourself. In simple terms, if you surround yourself with people who are financially poorer than you, then you will be rich and vice versa.
Peace of Mind and Health: The True Measures of Wealth
For me, real richness is not about crores in the bank. It’s about peace of mind and good health.
You might have Rs.100 Cr in assets, but if you’re stressed, unhealthy, or constantly comparing, then what’s the point?
“It’s not your salary that makes you rich, it’s your spending habits.” — Charles A. Jaffe
I’m not denying the importance of money. It matters. But what matters more is knowing how much is enough for you and your family to live a meaningful life.
Status of My Financial Life: A Personal Reflection
Let me share a bit from my own journey.
I had only two financial goals:
- My daughter’s graduation and post-graduation
- My own retirement
Fortunately, I achieved the first goal much earlier than expected. Now, I focus solely on the second.
Today, I have a retirement corpus that can cover about 25 years of my current expenses. Some may say it’s enough, others may disagree. But I’m satisfied — and that’s what matters most to me. But it does not mean I set my retirement age. For me the retirement is when my body and mind no longer support working for me. Until that period, I am happy to work, and I love working.
I started with zero net worth in 2011, right after I quit my BPO job and completed my CFP certification. Since then:
- I purchased an independent house and cleared the loan in 2–3 years
- Bought a car without any loan
- Built my life completely debt-free
No shortcuts, no magic — The secret is “never increasing our expenses (subject to inflation) even though our income increased drastically”.
Simple Living = Rich Living
Despite a rise in income over the years, our lifestyle hasn’t drastically changed. Apart from accounting for inflation, we live with the same simplicity. This decision played a huge role in helping us accumulate wealth.
Around 90% of our expenses are needs, and only 10% are wants. That’s the kind of balance we try to maintain.
“Wealth consists not in having great possessions, but in having few wants.” — Epictetus
Am I Rich or Poor? My Answer
I feel rich — not because of a fancy car or house — but because:
- I have no EMIs
- I’m debt-free
- I have peace of mind
- I’m healthy as of now (Daily, I walk around 10,000 steps and do yoga)
- And I sleep peacefully at night (I get a sound sleep at around 10 AM and get up at around 5.30 AM)
Even if today, our family income drops to zero, we can live a king-size life comfortably in our native place with our current corpus. That’s true financial freedom.
So, yes — I am RICH, in my own terms. I don’t need validation or certification from others to feel rich 🙂
What’s the Real Problem Then?
This blog is not about boasting. Nor am I saying you should follow my path. Your age, career, responsibilities — everything is different.
But here’s the issue I’ve noticed:
Most people crave society’s approval of their financial life.
We often forget to look inward — to assess where we started and where we’ve reached. Instead, we copy others, chase trends, and fall prey to FOMO (Fear of Missing Out).
I’ve never been jealous of my clients, many of whom have a higher net worth than me. I don’t compare myself to neighbours, friends, or relatives.
At the end of the day, what matters to me is:
- Can I sleep peacefully?
- Am I healthy?
- Am I able to provide basic comforts for my family?
If the answer is yes, then I am rich, regardless of what society thinks.
The Trap of Lifestyle Inflation and Overconfidence
The biggest mistake of our generation is assuming that:
- Our current income is forever
- Our current health is permanent
We spend recklessly assuming we’ll earn forever. Living paycheck-to-paycheck without any buffer or backup plan is nothing less than a crime — especially if you have dependents.
Final Thoughts: Define “Rich” in Your Own Terms
So, am I rich or poor? I define it for myself — and so should you.
Avoid the noise. Forget what society wants you to project. Each rupee spent to impress others is a crime against your future financial freedom.
“Spending money to show people how much money you have is the fastest way to have less money.” — Morgan Housel
Define what is enough for you. Live a life based on values, not comparisons. Stay away from the FOMO mindset, and build a life that offers you peace — not pressure.
Because true richness lies not in what you own, but in how little you need to be happy.
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