“These individuals have riches just as we say that we ‘have a fever,’ when really the fever has us.”
– Seneca, Roman philosopher
What does it mean to truly own something? As the Roman philosopher Seneca notes in the quote above, many wealthy individuals think they have wealth when really the wealth “has” them. His words challenge us to consider the relationship we have with wealth: Does it serve us, or do we serve it?
For many high-net-worth individuals, wealth is a symbol of success and security. Left unchecked, it can become a force that dominates our lives, leading us down a path of relentless accumulation, stress, and dissatisfaction.
This post kicks off a series where we’ll explore lessons from the Stoics, ancient Greek, and Roman philosophers who believed in living a virtuous life in harmony with nature, emphasizing reason, self-discipline, and emotional resilience. They taught that by focusing on what is within our control and accepting what is not, one could achieve inner peace and freedom from suffering.
Using their philosophies, we’ll explore how to keep wealth in its rightful place — as a tool for a meaningful and fulfilling life.
The Dangers of Letting Wealth Control You
We’ve all heard stories of people who achieve financial success yet find themselves less happy than they imagined. Why does this happen? When wealth becomes the goal rather than a means to an end, it can take over our priorities, relationships, and sense of self-worth.
The unchecked desire for more creates a cycle of never-ending dissatisfaction. When we measure our success by material possessions or compare ourselves to others, it’s easy to lose sight of what truly matters: health, relationships, purpose, and joy. These are personal to each of us, but our values are what drive our meaning of life, not our net worth. Wealth, instead of being a source of freedom, becomes a source of anxiety.
Practical Steps to Ensure Money Serves Your Values
So, how do we keep wealth from owning us? It starts with clarity about what truly matters to us. Here are a few practical steps to determine your values and how money can support a life well lived:
- Define your values: Reflect on what brings meaning and joy to your life. Is it spending time with family, supporting causes you’re passionate about, or creating experiences that enrich your life?
- Set intentional goals: Align your financial strategy with your core values. Instead of focusing solely on accumulation, think about how your wealth can help you live your ideal life.
- Practice gratitude: Regularly pause to appreciate what you already have. Gratitude helps shift your focus from what’s missing to what’s present.
- Engage in philanthropy: Sharing your resources with others not only helps those in need but also fosters a sense of purpose and connection.
- Seek balance: Wealth can offer opportunities, but it’s not the only ingredient in a fulfilling life. Make time for hobbies, relationships, and personal growth.
A Stoic Mindset: Focus On What Truly Matters
Even though these quotes and philosophies are more than 2,000 years old, they’re as relevant today as they’ve ever been. Seneca and the Stoics encourage us to find contentment not in external possessions but in the quality of our inner lives. When we shift our focus from accumulating more to living well, we free ourselves from the fever of wealth and rediscover what it means to truly thrive.
At Concentus, we believe wealth should empower you to live a valuable, successful, and fulfilling life. Let’s work together to ensure your financial strategy serves your values, not the other way around.
About VALUABLES
Many financial advisors focus on communicating with clients to provide complex analysis of the investment markets and economies. However, we have learned that most clients are not particularly interested in this complex analysis. Most clients hire an advisor for their knowledge of the markets, not for their ability to explain that knowledge. Most want to know what time it is, not how to build a watch.
Experience has taught us that wealthy families care most about using their wealth as a means to a desirable end, which is to achieve a more satisfying, fulfilled and impactful life, and to fulfill their most important Life Values.
VALUABLES is a periodic article series focused on the concepts, systems, and habits which we have observed among families who have been successful in this quest to use their wealth as a tool to live a life of significance. The most successful families share a set of habits, systems, and insights which enable them to use their wealth as a tool to fulfill their Values and what is most important to them.
We named this article series VALUABLES, because it provides an exploration of those habits, systems, and insights. We hope it will help you to consider your assets and possessions which are most valuable to you, and how you can use your financial wealth to enhance and cultivate your true “Valuables”.
Amen!