Entrepreneur's Corner

Money Is The Least Form Of Wealth Yet We Seem To Chase It More Than We Chase For Good Health

BY Steve Biko Wafula · November 1, 2024 08:11 pm

KEY POINTS

KEY TAKEAWAYS

We live in a world that tells us, day in and day out, that money is the ultimate measure of success. It’s the yardstick by which society often judges who’s “winning” and who’s not. But if you ask anyone who has chased wealth for long enough, they’ll often reveal a stark truth: money alone doesn’t satisfy or bring lasting fulfillment. True wealth runs far deeper than financial success, extending into realms that money can’t buy—realms that, paradoxically, hold the greatest value. Entrepreneurs, business owners, and the self-employed know the demands of chasing financial gains, but understanding a richer, fuller definition of wealth is crucial. To make this journey worthwhile, we must recognize four essential types of wealth: financial, social, physical, and time wealth.

Financial wealth, often the primary pursuit of our careers, is essential—no question. It provides security, options, and the means to support a lifestyle. Financial wealth includes all that we typically consider assets: money, investments, property, and other tangible resources. But as we pour countless hours into growing this type of wealth, the real question is what it enables, not merely that it exists. Money gives us choices, but it’s ultimately a medium, not an end. Real wealth includes much more, as financial wealth alone cannot buy what many discover only too late: that without relationships, health, and time, it is hollow.

Social wealth is the depth and breadth of our connections with others. It’s easy to overlook the critical role that relationships play in our sense of fulfillment, often relegating them to the sidelines in pursuit of career goals. Yet social wealth—the relationships that give our lives meaning—provides a richness money can’t match. True social wealth is built through both deep connections and a tapestry of acquaintances, mentors, and allies. Meaningful relationships, especially, provide support, guidance, and joy that enrich our lives far beyond what money could. Friendships and familial bonds give us strength during challenging times, provide perspective, and add the warmth of human connection to our lives. Social wealth is an investment in people, in shared memories, and in experiences that make life richer and infinitely more satisfying.

Physical wealth, on the other hand, underscores the importance of our health, vitality, and bodily well-being. Many of us trade sleep for work, skip meals to save time, and push exercise aside to accommodate pressing deadlines—all in the name of financial gain. But health is a foundation upon which all other forms of wealth rely. When we have physical wealth, we possess the energy to pursue our goals, to be present with our loved ones, and to live life fully. Health is often disregarded as we chase financial wealth, only for many to realize, after decades of neglect, that it is the hardest to regain. Physical wealth is built incrementally—through nutrition, exercise, and rest. Each small daily action compounds, creating a reserve of energy and resilience that enables us to live vibrantly.

Time wealth, perhaps the most elusive and profound form of wealth, is the ability to control how and where we spend our time. It’s often only in later life that people recognize the supreme value of this resource. Time is the most finite of all assets: it cannot be regained, purchased, or replaced. Those with true time wealth have crafted their lives so they aren’t constantly exchanging their hours for money or spending years waiting for a “someday” to arrive. Time wealth is the freedom to explore passions, be present with loved ones, and live without the tyranny of the clock. It allows for the pursuit of personal interests, family, and self-development. Without time wealth, even the richest financial resources can feel like a trap, tying us to work at the cost of experiencing life.

For entrepreneurs and business owners, the integration of these forms of wealth is essential. Financial wealth is a tool that allows you to build other types of wealth, but it is not the only or even the most important goal. Prioritizing social, physical, and time wealth alongside financial wealth provides a stable, fulfilling life. When you take the time to build strong relationships, your network grows not only in size but in depth, giving you the social capital that money alone could never buy. Investing in health means you will have the physical capacity to enjoy the fruits of your labor. And carving out time to spend as you choose means you can appreciate life on your terms, unbound by the relentless drive for more.

Money should serve as a means to enrich these other types of wealth rather than an end in itself. Pursuing financial wealth at the expense of the other three creates an imbalanced, fragile life. Those who focus solely on financial success often find themselves feeling isolated, exhausted, and time-starved—ironically missing out on the very freedoms they sought when they first began their careers. Entrepreneurs are especially vulnerable to this imbalance, as the demands of building a business can consume every moment. The key is to view money as a supportive element, not the ultimate prize.

A balanced pursuit of these four forms of wealth enables you to live with greater freedom, joy, and resilience. Financial success alone doesn’t necessarily provide fulfillment, but when paired with a strong social network, robust health, and control over your time, it becomes a powerful catalyst for a meaningful life. The real treasure lies in a well-rounded wealth portfolio that touches every dimension of your life, not just your bank account.

For those seeking to build a life worth living, redefine what wealth means. Let money be a byproduct of a life rich with experiences, relationships, health, and time. The true reward is not just the accumulation of assets but the ability to live a life that feels full and free. As you navigate your entrepreneurial journey, remember that the goal is not merely to have wealth but to experience a wealth of life itself.

About Steve Biko Wafula

Steve Biko is the CEO OF Soko Directory and the founder of Hidalgo Group of Companies. Steve is currently developing his career in law, finance, entrepreneurship and digital consultancy; and has been implementing consultancy assignments for client organizations comprising of trainings besides capacity building in entrepreneurial matters. He can be reached on: +254 20 510 1124 or Email: info@sokodirectory.com