In part 2 of 3 here, I share thought-provoking content from Morgan Housel and April Rinne, asking us to assess how we define wealth and what is our individual “enough” in terms of material consumerism.

Defining Wealth: Freedom in Control Of Our Time

In his book, The Psychology of Money, Morgan Housel defines freedom as “The highest form of wealth is the ability to wake up every morning and say, “I can do whatever I want today.”

I agree with Morgan’s view that true wealth is not monetary (though we must be able to sustain our chosen life) accumulation of money, but rather the ability to know that we have the ability to CHOOSE where we prioritize our most precious asset in life – our time. “People want to control their lives.” In the chapter, he goes on to define freedom with a quote I need to frame:

“The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays.”

Most of us may agree that Morgan’s ideal here is a wonderful aspiration. Wonderful, but easily dismissed as unattainable? Let’s unpack this a bit – I will argue that setting this vision as your North Star is a dream that can guide many decisions as you build through your life. Am I saving for the future? What are my material needs, and how can I reduce them if necessary? What are my core priorities with this one life I have to live? Contemplating these questions brings us to the next book of inspiration, where April Rinne defines one superpower as “Know your enough.“

Know Your Enough (the trap of consumerism)

In April Rinne’s book Flux: 8 Superpowers for Thriving in Constant Change, she discusses eight “flux superpowers” that “empower people to see change in new ways, craft new responses, and ultimately reshape their relationship to change from the inside out.” Our world is in constant flux, and we must find a path to help us navigate these rapidly changing and tumultuous times. I highly recommend this book.

For this post, the focus will be directed to her flux superpower number 5, “Know your enough.” April references our relationship with consumerism and the too-often quest for more (and more) material consumption. Life fulfillment and happiness are not derived from owning stuff. She makes a compelling argument in her book, encouraging us to assess our relationship with “physical stuff.” Bold emphases are mine:

“This “cycle of more” and the script that powers it can be quick to take root and surprisingly difficult to let go. The truth is: no amount of physical stuff can ever replace your inner sense of worth, but it can easily bankrupt you (and harm the environment in the process). Yet the old script persuades you of the exact opposite. This is how today’s consumerism is designed: the goal of “more” can never be fully satisfied, which keeps you tethered to the hamster wheel, clicking on ads and buying things that never fully satisfy.

But hold on. This is a script. And it’s not a script that many people would opt into, if they actually paused and thought about it. Who wants to live for an unattainable goal set by others, that’s exhausting and expensive, and often brings more jealousy than joy?

The new script sees through the mirage of more and says, enough is enough.

With your Flux Mindset opened, you can begin to reset your metrics and write a new script. This shift—from an interminable quest for more to a clear understanding of your enough—is simple yet profound.

Knowing your enough does not mean being miserly, uncharitable, or living in scarcity. If that’s your reaction (or your fear), you’ve misunderstood this superpower entirely. Knowing your enough is in fact the opposite of these things: it gives you room for generosity and plenitude. (A great irony of this superpower is that in a world focused on more, you’ll never find enough. Yet in a world focused on enough, you’ll immediately find more.)

Knowing your enough brings clarity about what really matters. When you know your enough, you have less anxiety and your ability to thrive expands a lot. Honing this superpower unleashes your full potential to the world. Knowing your enough sees through the futility of comparison and empowers you to develop your own metrics of “enoughness” rooted in internal satisfaction, meaning, relationships, resilience, discovery, and helping others. Such metrics transcend a price tag. They don’t diminish the success of others: I am not “more” fulfilled than you, or vice versa, if we’re clear on our respective enoughs. To the contrary, we’re more capable of lifting one another up.”

The perspective shared by April is spot-on and worth doing internal soul-searching to clarify what is important to us individually. How we prioritize our use of time must be a process of deliberate daily work – are you making decisions that align with your life’s purpose and the presence you want to bring to the world?

James Clear 3-2-1 Thursday’s newsletter, dated April 11, 2024, highlights a common occurrence where we often take different jobs for more pay without consideration for the lifestyle implications:

“If you already live a comfortable life, then choosing to make more money but live a worse daily life is a bad trade.

And yet, we talk ourselves into it all the time. We take promotions that pay more, but swallow our free time. We already have a successful business, but we break ourselves trying to make it even more successful.

Too much focus on wealth, not enough focus on lifestyle.”

In the final part 3 of 3, we turn our attention to the presence we bring to the world. Our focus on personal development, using our skills to help others, and bringing a mindset of abundance to our lives where we know kindness and generosity to ourselves and others will be life-changing to our lives and those we interact with. A daily, no shortcuts lifestyle that changes everything in our lives. The potential cannot be overstated.