Insights Blog
What is Wealth?
Jun 19, 2023 // Adam Bruderly
According to Investopedia “wealth is measured by taking the value of all the assets of worth owned by a person. This is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts. Essentially, wealth is the accumulation of scarce resources.” According to this definition we live in a society that truly defines wealth as a number.
However, is that the true definition of wealth? We at Journey believe true wealth is comprised of so much more and that the equation should start with the most “scarce resource” …TIME. That is why we do things differently and believe it is time to rewrite the equation. That this formula needs to include many other components like health, family, happiness, and purpose on top of that number that you see in your account.
This led me to do a bit of the back of the napkin math…
Considering that my kids are currently 8 and 5 years old, I have approximately 4,745 days and 3,650 days until they leave the house, respectively.
At my current age of 44, if I reach the age of 85, I will have approximately 14,965 days or 2,138 weeks remaining in my life. Regardless of the measurement, these numbers decrease each day.
Four Pillar Friday
Your weekly guide to thriving in every aspect of life—Physical, Mental, Spiritual, and Financial Wellness.
Mid-Quarter Market Commentary
While the Fed and the market are fairly aligned in their expectations, fixed income markets are likely to remain somewhat volatile while the fiscal impacts of the new administration’s policies become clearer. However, higher yields insulate bond investors from interest rate risk and elevated equity valuations make bonds more attractive on a relative basis. Given the level of concentration within US equity markets, we believe that international, value and small-cap equities provide a critical element of diversification. We advocate building portfolios to achieve your long-term goals as opposed to trying to react to the latest headlines. Please don’t hesitate to reach out to your advisor to schedule time to discuss your financial plan, including your goals and planning assumptions.
Four Pillar Friday
Your weekly guide to thriving in every aspect of life—Physical, Mental, Spiritual, and Financial Wellness.