Money is considered the most wanted necessity in life. The transactional value of a currency is the backbone of a nation, economy, and society. Money fulfills everyone’s needs and wants and who doesn’t want it? Acquiring wealth or winning the lottery is a dream of almost everyone in this world. However, very few are those who have their hands full with this lucky charm. Becoming rich is usually perceived as life’s big achievement, a means to fulfill one’s desires and needs once and for all. The transition of the process of becoming rich alters a person’s life goals, personal values, and aspirations to a great extent. This process is both psychological and physiological across all dimensions.
How getting rich alters one’s life:
1. Financial Security and Reduced Stress
One of the most obvious perks of getting wealth is the automatic removal of stress. It eliminates financial stress and people get economic stability in all aspects of life. The majority of the problems of grown-up adults revolve around money. Working to meet ends, paying bills, paying rent, groceries, etc. is an everyday life struggle for most people. Acquiring wealth eliminates this worry in a person and they find solace in this newfound comfort and financial security in life. Reduced stress levels and happiness lead to improvement in overall well-being.
2. Shift in Priorities
It’s our usual tendency to set our priorities in every stage of life if we want to achieve something. During financial constraints, it’s normal for us to set our needs and wants separately and focus on what’s necessary only. It can be in terms of managing budget, travel, expenses, etc. After becoming rich, it is obvious that all these newly revealed priorities and previously set restraints would be removed and it gives a thrilling experience of financial freedom to a person. With acquired wealth, the whole perception and life gas tens to change the purpose of a person’s aspiration.
4. Mindset of Abundance
Wealth brings about feelings of satisfaction and abundance in a person. People who have scarcity due to limited resources can now have new opportunities. These newfound opportunities provided an abundance of mindset and an open view of previously unexplored things.
5. Empowerment and Confidence
Getting rich in life seems to empower individuals greatly. It boosts their self-confidence and self-esteem about life. The taste of success in life assures in the form of wealth gives a sense of settlement and contentment in life.
6. Lifestyle Changes
Getting rich often brings a lot of lifestyle changes from living conditions, to buying expensive items, accessories and automobiles etc. Life suddenly becomes all about luxury, comfort, and gourmets. Wealth always impacts the personal values of a person to a great extent.
7. Social Circles and Relationships
One of the significant areas of life where a person is affected is social circles. It creates new opportunities and doorways in life previously unreached by a person. With lifestyle changes, the social dynamics and firns circle seem to change. There is a need for balance between genuine connections and those connections made for materialistic gains
Challenges of a changed life
With great power comes great responsibility! Surely, money is itself a source of great power that can alter a person’s as well as others’ lives through business, charities, funding, etc. However such power needs to be handled carefully:
1. Challenges of Identity and Relationships
Getting rich surely brings new positivity in life but it also brings challenges in various aspects. A person may struggle with newfound identity and sudden changes in self-image can distort one perception. It might lead to a sense of isolation from other people in society.
2. Managing Wealth and Future Planning
After getting rich the feeling of satisfaction can fill a person with utmost joy and happiness. The satisfaction it brings about has a huge effect on the mindsets of people. Amongst these newfound resources, wealth management is very necessary. People tend to overspend and invest in unknown businesses out of sheer excitement. If not done correctly this move can have the opposite effect on the person due to suffered losses in business etc. Proper planning is required instead of getting blind to one’s fortune.
3. Balancing Materialism and Fulfillment
It is indeed true that after getting rich one a private oneself and or family with excessive comfort and opportunities in life, however sometimes in the process our needs get fixated upon the materialistic needs of the world. There should exist a balance between materialistic love and self-love without resources. Managing personal well-being and relationships with friends and family with a little bit of mindfulness is the key to maintaining our mental well-being in this new phase of life.
Getting rich impacts an individual and it can trigger several psychological changes in mindset and conditions in life. In this multi-dimensional phase of life, individuals experience new opportunities, achieve financial independence, and find satisfaction, etc. An individual self Self-awareness is important to have clarity in life goals and focus on what is important and how one can manage this newfound legacy of life.