During my travels through Europe last summer I had some insights into how much wealth is enough. It prompted me to write an article on the subject called How To Find The Sweet Spot For Building Wealth and add it to the Featured Article directory on this site. In this post I will introduce you to some of the main topics of this new article so that you can decide if you want to read more.
As a brief overview, what I realized is there is a balance point to building wealth – more is not necessarily better. That shouldn’t surprise most of my readers since I’m constantly talking about “balance” in my writings. Balance is important to virtually every aspect of your life so there is no reason it shouldn’t be a valid principle when building wealth as well. The reality is you can have too much of a good thing whether it’s chocolate, fine wine, children… or money.
The reason this is true with money is because you will pay a price to build and manage your wealth. The more time and energy you devote to acquiring more, better, different wealth the bigger the price you will pay. The surprising and unexpected outcome is if you seek more wealth than you really need to be happy then you may actually lose some of the freedom you sought in the first place.
There is an efficient point to building wealth – the sweet spot – where you expend the least effort possible to gain the maximum value money can bring to your life. More wealth doesn’t necessarily bring more joy but it can cost valuable time and effort. The flip side is less wealth can limit the choices you make and the life experiences you can enjoy. Somewhere in between is the sweet spot. It is the point where money serves you rather than you serving it.
This is an important concept to understand because determining how much is enough will also determine the goals you set and how you go about achieving them. It is a concept I work with extensively when coaching financially successful clients.
Anyway, this new feature articleexplains all this in greater detail so that you can find your own personal sweet spot to building wealth. It is a somewhat unconventional take on wealth building since everyone always seems to want more money so it would be fun to get your feedback in the comments section below. What do you think about the idea of a “sweet spot” to building wealth?
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