Wednesday, February 18, 2009

Where Is Your Wealth?

Many people today are watching their portfolios slowly but surely erode. There is a sense that personal wealth is diminishing right before their very eyes. What if, however, true wealth is not measured exclusively in terms of stock value or bottom lines? What if true wealth does not exclude those measurements but is more significantly experienced and secured through other measurements altogether.

In their book, Revolutionary Wealth, Alvin and Heidi have made that case for the 21st Century. They suggest that as we move more deeply into this new century, wealth will be measured, not exclusively by dollars and cents, but rather by knowledge and relationships. The term "guanxi" has received recent attention because of what it represents to the Asian community. The thought process is that having relationships with people, something close to family, is an essential for doing business. Trust is everything. Through the tragedy of 9/11 we learned that when people face tragedy the only thing that really matters is talking to someone they love. In those times, we look for family or relationships we value. In his book, Vital Friends, Tom Rath elevates relationship to an essential both personally and professionally. So, wealth without relationships seems to amount to very little, while relationships, with or without financial wealth, will always measure up.

The second thought developed by the Tofflers with regard to contemporary wealth is knowledge. Beyond financial statements and information access, there is the presence of knowledge. The emphasis seems to be on more than "intelligence". It involves the presence of communicative, contemporary, emotional intelligence. Daniel Goleman, in his book Emotional Intelligence, draws a distinction between a quotient measurement of intelligence and an applicable, applied measurement of intelligence. The former can be present and be of little value. The latter, even with less measured intelligence, is worth more. John Naisbitt, in his book Mindset, gives us all insight into the importance of philosophical filters. He maintains that we all have mindsets. The value they represent rests in their width, depth, and breadth. If you are a life student who has actively and humbly learned across a variety of life experiences, then you have a filter for making life choices that can be extraordinarily valuable to a life filled with options.

So, how you choose to measure wealth is an interesting discussion at the very least. For my money, or lack thereof, I weigh in with the Tofflers, Naisbitt, Goleman, Rath, and a host of others. Take a few minutes and do an inventory of wealth from a relational standpoint. Think about all of the people with whom you have shared and do share life. While you're at it make a list of things that you have as active convictions in your life. Identify convictions through which you filter life decisions. Once you have completed the exercise, I think you will have a better sense of your true wealth.



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