True Wealth

Chris revisits his guide to financial independence, emphasizing that true wealth isn’t just about money but about personal fulfillment and freedom from envy. Sharing his own list—spending time with family, enjoying the sun, maintaining health, and reading—he argues that being happy in your own skin, free from coveting others’ wealth or status, defines real richness, far surpassing material gains or fame. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Many years ago I put together my Watchdog on Wall
Street markowski Investments Guide to Financial Independence, and well, you know,
it's always kind of remain the same, and I go
back to it from time to time. Let's think at
about it this past week, and financial independence is one thing,

(00:37):
but it's not wealth. It's not wealth. I mean, we've
got to try to get to it. And again, wealth
is different for everyone. Everyone. Everyone has their own list
certain things that they thoroughly enjoy that they can do

(01:03):
that again it makes them feel wealthy. For me, there's
I can make a list. I've got to do this
at some point in time. I think it's almost like
a good check. You know, the ability to spend time
with family and kids, you know, enjoying for me, enjoying

(01:23):
the you know, the heat of the sun. Having a
a a clear conscience might be another one. You know,
other things, being able to exercise every single day. You know,

(01:43):
some of the things you know your health. Your health
is is you know something where you can have wealth
and that there's you know, the ability to pick up
a book and read, to take time off when you
want to. Everyone's list is different, but one one that

(02:04):
I think is a true sign. Like again, there's a
lot of things that I'd still like to be able
to do more often that again, with my job and everything,
I just am not able to do. But there's one thing,
one thing I was thinking about it is, well, it's envy. Envy.

(02:28):
You don't envy anyone for anything. You don't envy Elon
Musk for his wealth, or Jeff Bezos for his wealth,
or this one for their looks or their athletic ability.
You are happy in your own skin. You are happy

(02:49):
with who you are. You're happy with the people that
you're able to surround yourself with, and you wouldn't change
places with anyone. Sometimes it's hard, it's hard for people
to grasp it really is. Oh man, that would be great,
be great to be Aaron Judge and be the right

(03:10):
fielder for the New York Yankees and be a big
star and all of those things. Wow, how awesome would
that be? Not as awesome as watching my kids being born,
not even close or the time I was able to
spend with them, and the things that we're able to do,
or the memories that I have had. You're going to
trade that in. It's funny. I was thinking about there

(03:33):
was a it was a movie way back when I
forget who it was. I would think it was Jim
Belushi was in the movie, if I'm not mistaken, and
basically he changes his life. I guess I can't remember
what exactly I mean. I think he struck out in
a little league game when he was younger, and to
put him on a certain path, and then he's able

(03:55):
to go back and time and he actually hits a
home run or something like that, and how his life
changed and might have acquired various if another thing's wealth,
whatever it may be. But he missed out on all
the good stuff, the really good stuff. That's that's true
Wealth Watchdog on Wall Street dot com