concepts – The Life and Times of Ben Weinberg

There is a standard definition of ‘wealth’ as a concept: An abundance of valuable possessions, money, or other resources to the degree that it causes prosperity. However, what is prosperity to you may not be prosperity to others. I like to think of wealth is not an abundance not just of material possessions or of money or of how much you can acquire but also how much you value what inherently belongs to you. What I mean by that is your time, your health, and your freedom. While building wealth is key to having success in life, there are other facets to wealth that we can neglect if you are not careful.

Wealth will come with sacrifices whether it is your time, your freedom, or your health as there are tradeoffs involved. You’ll find that to become more prosperous, you may have to sacrifice time, freedom, or health to build that wealth up whether in the form of money, resources, or material possessions. I believe the key is being able to maximize wealth in both facets as much as possible without sacrificing one or the other too much.

In order to gain more money, you may have to sacrifice your time in the sense that you exchange your time to earn money or you are not as free to do what you want each day because you have to work a job, grow your business, or learn new skills in order to earn the money to become wealthy. The same could be said of your health whereas you may have to sacrifice the time you could use to invest in your own health to build material or resource wealth with the time you put in to earn money or other assets. That time that could be used to be spent at the gym, on a run, going on a hike, or practicing a sport could go to your job or your business or investing into a new asset.

If you can find out what you truly value and what you want to maximize in terms of your wealth, make sure you prioritize it to have true wealth for you. For example, if fancy cars, big houses, and a lot of material possessions appeal to you, maybe you don’t mind putting a lot more time into working for that, putting your health on the backburner, and sacrificing certain freedoms to do what you must instead of what you want to. On the contrary, if you care less about possessions, material wealth, but still want to be comfortable in terms of money or investments, then maybe you can work less, focus on your health and free time more, and exercising more freedoms to do what you want with the extra time you have as a result.

You should decide what kind of wealth is best for you. What truly will make you happy, what you are passionate about in life, and what you want to get most out of life, you’ll be able to build that true wealth. I think the key for anyone is to maximize the 24 hours in a day, 7 days in a week as much as possible. If you can build your wealth passively to get some of your time back, that is a key advantage in my view to having true wealth too. When you can be financially successful by having multiple sources of income, multiple options to build wealth, and with some or a lot of autonomy in your work or business pursuits, that really can be an advantage in not only being successful but happy too.

Wealth is not just about being financially well off but also about being well off in other areas including health, time, and exercising freedom in what you do and how you do it. There is a distinct difference between someone who must rely on others for their wealth building and someone who is able to create their own opportunities or build their own means of wealth in a business, in real estate, or in investments that can create more freedoms rather than slowly eliminate them.

You can have as many possessions as possible, houses, cars, and money in the world but if you have no free time, no health, or no autonomy in what you do or how you earn that wealth, then you may need to reassess if that is the true wealth that you want out of life. I hope that you’ll rethink what wealth means to you because only you can decide what you would like to prioritize as you build it. You must consider that sacrifices will have to be made, that time, money, and health are all commodities that can be saved or lost depending on what you prioritize these days.

I only ask that you realize that having the freedom to do what you want and when you want is underrated. It is a form of wealth within itself along with keeping your health in good shape as long as possible even if you must sacrifice some time or freedom as a result. Consider that you can be very wealthy in the material sense but if you are unhealthy, working all the time, and have to answer to others in order to keep building that wealth, are you truly wealthy or is it only one kind of wealth that you have?

Think about what you are willing to sacrifice, what you are willing to earn, and how to passively build on the wealth you want to earn to save more time and freedoms that can be used for health, time spent with family and/or friends, or enjoying what the world has to offer outside of your own wealth building. Wealth takes many forms as I mentioned so remember that while we often think of money, cars, houses, and other assets, we should remember that wealth can be time spent away from an office to enjoy a vacation, wealth can be an extra hour in the day to use the gym or go for a hike, wealth can be starting businesses that matter to you with hours of work that you set for yourself and only you can hold yourself accountable for. Think about the wealth that you want to build throughout your life and how you want to make it work for you.

Two concepts that are not discussed very often today in our culture, but for which go hand in hand to have a purposeful life are duty and honor. Duty is the obligation, either moral or legal, to uphold your responsibilities and to take upon tasks and actions when called upon. Duties are be thrust upon you such as being part of jury or registering to be eligible for military service but also done voluntarily such as keeping your community clean by picking up trash, giving money to a charity, being part of the local school board or town forum.

There are many variations on duty, but what they all have in common is to think of more than just yourself and to be responsible to those people around you. We are duty-bound by law in many such cases, but we are also duty-bound by morals and values that are passed on from generation to generation.

Being dutiful is conscientiously being able to know what your duties in life are, pursue them vigorously, and to conduct them in a moral manner. Duties may not be easy or fun to fulfill, but we have them in place so that society can function at a higher level. If no one was duty-bound to others, selfishness, greed, and egocentric behavior would replace it, which would cause the larger community and society to collapse over time. Lack of duties breeds this kind of behavior whether they are mandatory or not. If everyone is out for themselves and not able to look after others or think of their behavior’s effect on other people, it would create what we know to be as a ‘dog eat dog’ world.

When you fulfill your duties, legally bound or morally footed, you uphold the basic contract as a citizen and as a human being, to help improve your community and the society to some degree. If everyone fulfills their duties, trust, confidence, and belief in each other will be much more assured. If nobody does what is required or expected of them, nothing substantive can get done. The more duties we fulfill and the more we look out for another rather than ourselves, the better off we are to be when we commit to these obligations.

Duties can be granted and often must be enforced to be fulfilled but if we each uphold the duties we are given and see each other as all being on the same page, other duties that we voluntarily take on can be added on if we see that the system is working, and people are putting in their fair share. If a few individuals, especially if they leaders or representatives of their community, are found to be neglectful of their duties, and especially lied about fulfilling such duties, it can easily cascade to where the average person sees this and will unfortunately not find the duties they have been given as being as necessary to commit to if they see those who put them into place or have mandated them do not fulfill them as well.

Regardless of where you find yourself in the overall society, a leader, a citizen, a representative, a voter, etc., we are all held to the same duties and obligations that we commit ourselves to by law or by morality. If we all uphold those duties through acts of good faith and completing tasks that are insured to us, the better off everyone will be.

However, if duties are neglected, discouraged, or done away with even if they are mandated, the whole society will suffer as a result due to a loss of trust, faith, or belief in what upholds this basic sense of equality that we have to be beholden to the same duties as everyone else is regardless of age, sex, race, religion, ethnicity, etc. Now, it is commendable to do your duty, but it is even better to do so with honor.

Being honorable or conducting oneself with honor is taking the duties you are given to uphold or the tasks that come with such duties is to perform such duties with integrity, accountability, and trustworthiness. It is one thing to do your duty and it is another thing to do your duty well.

You can think of someone who is elected to be a representative of a community, town, city, or nation who will use the position for egotistical purposes and to twiddle the time away while doing nothing of honor to make sure the people who elected him or her will benefit as a result. They have been given the honor of representing their community or a nation and have squandered it by neglecting the privilege of having such a position to do good on behalf of others. There is no honor in that even if they are technically fulfilling the duty of public service.

Duties can be bestowed on soldiers, politicians, community leaders, public figures of influence, religious clergy, teachers, etc. and they can perform them because they have been trained or are seen as qualified to fulfill them. However, the question arises is if they are doing their duties with honor? Some will only do the bare minimum and will only think of themselves while having their position of power or influence wrapped up. Others will use their newfound duties to abuse their position for financial or social gain and lie to say that they did not do anything dishonorable to begin with.

Luckily, there will be those people in positions of status who will conduct themselves honorably and seek to uphold that trust bestowed upon them by being transparent, accountable, and forthright. A good leader or example of someone who conducts themselves with honor is that they do not only do their duties as expected of them, but they also seek out those in a similar position or authority who are not doing their duties. They will not only conduct themselves with honor intact but make sure they are holding others in their position accountable and to find out if their honor is there.

If not, that person of authority or influence would work to ensure that the individual without honor even while having done their duties albeit in a lackluster manner are held to account. To uphold that trust across a society where we all must do our duties and to do so with honor, those without honor should lose their given duties when it is found that they are not holding themselves to that standard. When we each hold ourselves to an honorable standard by doing the duties bestowed upon us to the best of our abilities, then the larger community or society will benefit as a result.

Without duties, there is no honor to be had. If duties are being done without honor, no functioning society will result. It is important to understand how much these two concepts feed off each other. One cannot exist without the other and if one concept is neglected, the other will suffer as a result. We all must commit the duties and obligations bestowed upon us whether by law or by creed, but duties must also be performed to high standards, both morally and ethically. Performing one’s duties without honor cannot work and nor can having honor without upholding one’s duties.