The New Retirementality, Fifth Edition

CHAPTER 12Redefining Rich: Bridging the Gap between Means and Meaning

To allow me to do what I want to do every day.

—Warren Buffett on the meaning of money

Legend has it that Harry Houdini, the famous escape artist, walked into a jail cell—the door clanged shut behind him. He worked for two hours, unable to make his escape. Completely drained from the experience, Houdini collapsed in frustration and failure and fell against the door. To his surprise, the door swung open—it had never been locked. The door was locked only in the mind of Houdini.

Whether the story is legend or fact, we would all do well to consider what needs to happen to bring a greater sense of meaning to the means we gather in our working lives, and free us from feelings of futility, frustration, insignificance, and even failure. Once that door is opened, everything else, including our material management, can be ordered in such a way as to accelerate and accommodate a more meaningful existence.

In this chapter, we are going to reframe the conversation around building wealth toward living rich, as opposed to simply getting rich. One is a state of contentment and purposeful being while the other is a discontented chase that never ends because there simply is no exit ramp. A friend of mine who works with ultra-wealthy people in a major metro area conducted a survey that asked, “How much money would you need to have to consider yourself rich?” Those with $25 million said the number was $50 million. Those with ...