As a youngster on the path to success, I climbed the ladder with vigor. High school valedictorian, exemplary Stanford student, and a prestigious job at Goldman Sachs – I ticked all the boxes. In my early Wall Street years, I followed the conventional belief that traditional wealth was the main route to happiness. People with families worked 70-hour weeks and barely saw their kids. But they could certainly bring home the bacon. Like them, I worked tirelessly, neglected my well-being, and felt entitled to occasional indulgences.

 

I vividly recall splurging on a $1300 winter coat after receiving my first bonus. Undeniably stylish and warm, it made me feel like I was on top of the world. However, as I reflect on it now, I can't even remember what happened to that coat. It didn't take many times wearing it before my "retail therapy" had lost its impact.

 

Years of introspection, experience, and reading have led me to appreciate other forms of wealth. Here are a few to consider:

 

Emotional Wealth encompasses the accumulation of positive emotions and experiences. It involves maintaining control over our emotions, even when faced with external stressors. For me, a daily meditation practice has been instrumental in managing stress, anxiety, and other negative emotions. Additionally, being present and slowing things down has become a greater than expected source of joy.

 

Time Wealth represents the ability to spend our time in personally valuable ways. It's about controlling our own schedules and allocating our time according to our priorities. For me, optimizing time wealth means saying no to opportunities that, while financially rewarding, would drain my energy or make me do things I don't enjoy. I've also learned that I can't attend every social event, and that an honest no is better for everyone involved.

 

Location Wealth grants us the freedom to travel, live, and work wherever and whenever we choose. With remote work becoming increasingly prevalent, this often-overlooked form of wealth offers exciting opportunities for personal growth, travel, and adventure.

 

While pursuing wealth, it's common to focus on one form at the expense of others. This pitfall isn't exclusive to Wall Street professionals. I've met passionate, free-spirited individuals who, despite prioritizing Time Wealth, find themselves unable to rest easy, lacking even the resources to afford basic healthcare.  Just like the Wall Streeters, they have a deep sense of “not enough”.

 

What's the answer? It's hard to give a one-size-fits-all solution. The most important thing for me has been to be aware of this broader set of definitions and act accordingly. As for the $1300 coat, while that $1300 may have been worth $10,000 today if I'd invested it in stocks...I wonder whether I would have been wealthier if I had not earned it at all, and had spent a few more hours enjoying the delights of Manhattan.