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 Client a $1.4 Billion Advisor Won’t Take with Jonathan Steele

What if the way you think about money today traces back to something that happened when you were twelve or thirteen? On this episode of Wealth B-Hers, Dr. Felecia Froe sits down with Jonathan Steele, founder and chief investment officer of One Wealth Advisors, a firm managing $1.4 billion for roughly 400 families. Jonathan traces his money story back to eighth grade, watching his mom pay off a department store credit card the second they got home, and then walks through his own winding path from a restaurant kitchen to cold calling at Bear Stearns to building an independent firm with his brother.

ICYMI: Creating Social Impact Through Real Estate Investing with Felecia Froe

Dr. Felecia Froe made her first real estate investment years before she even knew she was an investor. She was five years into her medical practice when it hit her that this wasn’t the last thing she’d ever do. In this ICYMI crossover from Zen and the Art of Real Estate Investing, she tells host Jonathan Greene how an office building she bought with fellow women physicians turned out to be that first deal, though she didn’t realize it until years later. From there she built fast, lost hard in 2008, and rebuilt into Money With Mission, a community that helps professional women use real estate as a financial escape hatch from bad jobs and bad relationships.

Foundations #11: The Cost of Waiting

There’s a kind of waiting that doesn’t feel like waiting. You know exactly what you need to do. You’ve meant to do it for longer than you’d like to admit. You keep finding a reason why right now isn’t quite the right time, and you tell yourself that’s responsible, that’s thoughtful, that’s just good timing. In episode 11 of the Wealth B-Hers Foundations series, Dr. Felecia Froe is done letting that story stand. She breaks down exactly what waiting costs, the compound growth that quietly disappears, the confidence that erodes one avoided month at a time, the low hum of 2am anxiety that never fully goes away. She shares her own experience starting over in the middle of real loss after 2008, and she lands on something most financial advice never says out loud: the perfect moment to begin is never coming, for anyone.