The True Measure of Wealth

bike trip

Please note the publish date of this blog. Financial information, market conditions, and other data mentioned in this post may no longer be accurate or relevant.

On an overnight bike trip I was planning with my son in the California wine country, I was so excited and so wanted him to have a good experience that I decided to splurge on a nice hotel as a reward for his rigorous cycling. What was a little extra money for a bit of luxury?

I remembered a hotel right on the square of the town that was our destination. I found the phone number and dialed. My credit card was at the ready. Even though my conditioning (since childhood) is to economize, this was one time I felt like letting go.

Trapped in Scarcity

When Monique, the reservations agent, answered, she began to describe the room. I interrupted her. “I don’t need convincing. I’m ready to book it.” “Very good, Mr. Sherman, I have you down for one night, arriving Saturday, departing Sunday. Our deluxe room’s special rate is $675.”

I stopped breathing.

“I’m poor! Despite being wealthier than most Americans and most people in the world, there are just some stratospheres of wealth that I can’t reach. Instead of feeling wealthy and free, I’m suddenly trapped in scarcity. I really don’t have enough!”

Monique was still there. “I also have a standard room for $525,” she offered.

Before I hung up I said, “Thank you, Monique. I think I’ll be happier at the Best Western.”

Wealth Is More Than How Much Money You Have

As I hung up the phone, I felt a range of feelings: disappointment, shame, relief. I also had the sudden awareness that my wealth is in being with my son, my enjoyment of the outdoors, the exhilaration of biking, and the ability to take time away from work and other responsibilities. That is the true measure of my wealth, not whether I can afford a hotel room for $675.

What I am learning from my clients and friends is that wealth comes from our own definition of our inner values. Wealth is not about being able to afford the hotel (or house or car or tech gadget). Thank you to Monique for reminding me of my true wealth, which is independent of how much money I have.

Disclosure

Abacus Wealth Partners, LLC is an SEC registered investment adviser. SEC registration does not constitute an endorsement of Abacus Wealth Partners, LLC by the SEC nor does it indicate that Abacus Wealth Partners, LLC has attained a particular level of skill or ability. This material prepared by Abacus Wealth Partners, LLC is for informational purposes only and is accurate as of the date it was prepared. It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product. Advisory services are only offered to clients or prospective clients where Abacus Wealth Partners, LLC and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Abacus Wealth Partners, LLC unless a client service agreement is in place. This material is not intended to serve as personalized tax, legal, and/or investment advice since the availability and effectiveness of any strategy is dependent upon your individual facts and circumstances. Abacus Wealth Partners, LLC is not an accounting or legal firm. Please consult with your tax and/or legal professional regarding your specific tax and/or legal situation when determining if any of the mentioned strategies are right for you.

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