Pattie's Blog: How do you define 'wealth'?
Bank of Canada Mark Carney shows off the bank's new circulating $100 bill, Canada's first polymer bank note, in Toronto on Monday Nov. 14, 2011. (Nathan Denette / THE CANADIAN PRESS)
Pattie Lovett-Reid, CTV's Chief Financial Commentator
Published Thursday, May 24, 2012 10:15AM EDT
Are you wealthy?
When it comes to defining wealth we all have different standards. Some of us will define wealth via our professional assets -- the skills that allow us to climb the corporate ladder, start a business or further our education.
There are others who define wealth by their personal assets -- their family, friends, and their ability to give back to the community.
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We can have physical assets by way of a healthy mind and body and of course financial assets that allow us to spend, save and give according to our own agenda. No matter how you define wealth, it is personal and only you get to decide just how wealthy you are by your standards. That is why after writing a number of books focused solely on creating financial wealth I decided to do a book on building your wealth, or more specifically, your personal balance sheet.
I decided to reach out to Canadian women to share their secrets to authentic success. No one wants to be, nor can they afford to be, "unbelievably average" in today's environment. As you get on the road to wealth creation here are a few lessons I've learned along the way from these women -- no regrets, play to your strengths, follow your passion and embrace lifelong learning.
There are so many financial myths out there such as -- self worth equals net worth, or a little debt never hurt anyone, some believe you have to be a math major to be good with money or even the thinking that you have to have a lot of money to get help managing it. These are things I hear all the time and are simply untrue. Once you debunk some of these myths and broaden your definition of wealth you quickly realize that you are wealthier then you realized and it really isn't all about the money.
The bottom line -- self-belief leads to self-confidence if you take the time to figure out who you are, what you like, what you value, the odds of achieving wealth by your standards dramatically increases. Sadly, I'm still trying to figure out why it took me six books to figure out that it really isn't all about the money.
Pattie Lovett-Reid is the host of The Pattie Lovett-Reid Show which airs on CTV News Channel at 8 p.m. ET on Thursdays. You can also interact with Pattie directly during Lunch With Pattie, a livechat that begins at 12:30 p.m. ET on Thursdays at askpattie.ca