In this episode Ms. Black discusses the definition of wealth and the importance of defining it for yourself. She shared a newsletter on Substack How to be Rich by Andrew Lokenauth including the steps he defined in Building Wealth:
- Define What Wealth Means to You
- Declutter Your Life
- Invest in Relationships, Not Things
- Create Daily Wealth Rituals
- Learning the Art of Savoring
And provides a frameworks for your wealth journey including the R.I.C.H. Life Assessment below:
The R.I.C.H. Life Assessment
Rate yourself from 1-10 in each of these areas:
R- Relationships: How strong are your connections with family and friends?
I- Inner peace: How often do you feel calm and content?
C- Contribution: Are you making a difference in ways that matter to you?
H- Health: Do you have the energy and wellness to enjoy each day?
Your lowest scores show where to focus first. Set one small goal to improve in that area this week.
Ms. Black, the host of Staying in the Black, is a single mom, homeowner, and public-school educator in NYC. She owns two properties and is one mortgage away from being totally debt-free. She loves traveling the world with her family and has over $1M in her retirement accounts beyond her pension.
Learn more about Ms. Black:
Website: http://www.stayingintheblk.com
Instagram:@stayingintheblk
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