June 28, 2024

Redefining Success Beyond Money

As someone who transitioned from medicine to financial education, I’ve often pondered the true meaning of wealth. Is it just about accumulating money, or is there more to it? True wealth encompasses all aspects of life—health, relationships, personal fulfillment, and financial stability. I explored this concept further on The Mindful Wealth Podcast episode titled “How Your Money Can Make a Difference” with Terrie Schauer and Jonathan DeYoe.

Here’s my perspective on how to achieve holistic wealth.

Embracing Holistic Wealth

Initially, my definition of wealth was straightforward: it was all about money. However, over time, I realized that wealth is much broader. True wealth includes aligning your life, and ensuring your health, relationships, and personal goals are in sync. When these elements come together, they create a rich and fulfilling life.

My journey from a medical career to real estate investing taught me this lesson. Investing in projects with a social impact showed me that financial success can go hand-in-hand with making a positive difference in the world. Ultimately, it’s not just about the money; it’s about what you do with it.

The Vital Role of Health

Health is a cornerstone of true wealth. Without good health, financial success loses its appeal. Maintaining health allows you to enjoy your wealth and contribute meaningfully to society. For instance, I learned this through my work with the Oasis Fresh Market in North Tulsa, a grocery store designed to combat food deserts and promote healthy living.

This project not only brought fresh produce to an underserved area but also improved community health outcomes. Consequently, it’s a prime example of how investing in health can enhance overall wealth. When people have access to nutritious food, their well-being improves, and they can pursue their financial and personal goals more effectively.

Nurturing Relationships

Strong, meaningful relationships are another essential aspect of true wealth. Indeed, the quality of your social connections can significantly impact your happiness and life satisfaction. Through my experiences, I’ve found that building and maintaining supportive relationships enriches life immensely.

For example, during my Lifebook course, I discovered how social relationships influence other areas like health and finances. By fostering these connections, we create a support system that enhances all aspects of our lives. Thus, wealth is not just about money but also about the people we surround ourselves with.

Financial Literacy: A Key Component

Understanding money and making informed financial decisions are crucial for achieving true wealth. Financial literacy empowers you to manage resources effectively, ensuring stability and growth. Therefore, I advocate for open conversations about money within families and communities as an essential skill.

For instance, teaching financial literacy to my daughters through games like Cashflow 101 helped them understand money management from a young age. Consequently, this foundation allowed them to make better financial decisions as adults. By promoting financial education, we can help more people achieve true wealth.

True wealth is a holistic concept that integrates financial stability with health, relationships, and personal fulfillment. By aligning these elements, we create a rich and satisfying life. At Money with Mission, I strive to inspire others to redefine wealth beyond money and invest in what truly matters.

To learn more about my journey and insights, visit Money with Mission. Check out my book “How to Create Wealth That Outlives You” and join the conversation about redefining true wealth.

The Vanish Test: What My Personal Trainer Taught Me About Your Money with Dr. Felecia Froe

Dr. Felecia Froe opens this solo episode with a confession that has nothing to do with money: she has a personal trainer, and she has absolutely no idea what she’s doing at the gym. She just shows up, does what he says, and leaves sweaty. That worked fine until Tony (my trainer) announces he’s going on vacation, and Felecia realizes her entire fitness “plan” lives in his head, not hers. That small panic cracks open a much bigger question: how many women are doing the exact same thing with their money?

ICYMI: Make Your Money Do More: Become Your Own Bank with Erica Neal

Erica Neal didn’t set out to become a wealth strategist. She was on the pre-med track until an unplanned teenage pregnancy knocked her off that path and into a finance and economics degree she almost didn’t choose. In this ICYMI episode, Erica joins Dr. Felecia to trace her journey from watching her mom fall into credit card debt to co-founding Infinity Investment Strategies and writing the bestselling Mind of Gold. She opens up about the “earthquake moment” that made her question everything she’d been taught about traditional financial planning: a client who asked a question she couldn’t answer.

Foundations #12: How Wealth B-Hers Talks about Money Differently

Most of us don’t avoid money conversations because we don’t care; we avoid them because the rooms available to us don’t feel safe. In this final installment of the Foundations series, Dr. Felecia Froe steps away from strategy and numbers to unpack something more fundamental: the culture underneath every Wealth B-Hers conversation. She names the pressure many women feel walking into financial conversations, the pressure to already have the answers, to sound confident, to never ask the “basic” question, and shows how that pressure shuts down learning and breeds shame instead of wealth. In its place, she lays out three foundations that shape the Wealth B-Hers community: no pretending, worth separated from net worth, and no rushing.