Why do you want to be rich?

The "why" behind wealth

February 21, 2022

Hey there —

Hands up if you set an income goal this year. ✋

Hands up if it was something ambitious – like making six figures (or even seven). ✋

Hands up if you know exactly why you set that goal…

It’s become something of a trend for freelancers to hit monetary goals like making their first $10K a month, earning six-figures a year, or making their first million (okay, maybe that’s still not so common yet).

But aside from the social media bragging rights, have you ever stopped to ask yourself why that goal is important to you?

Financial advisor and author of I Will Teach You to be Rich, Ramit Sethi always asks a simple question when he teaches people about wealth…

Why? 

What are you aiming for? What does “rich” look like to you?

Is it quitting your job to work part-time on a beach in Costa Rica?

Is it buying a home for your family?

Being rich might be as simple as being debt free.

True wealth isn’t about becoming a millionaire. It’s about being able to do what really matters to you regardless of income.

When you set an arbitrary number as your target – without any connection to why you want to earn that much – it becomes a never ending quest for more. What do you do when you actually start earning six figures? Aim for seven, of course.

Then more, and more … and wait — where did your weekends go?

When you work toward a tangible goal – a nomad lifestyle, a house, personal freedom – you have a bullseye to aim for. Better yet, you have something to actually celebrate once you’ve made it.

So how can you set more realistic financial goals?Ramit recommends you start with your why:

  1. Write down your short and long-term financial goals

  2. Separate the arbitrary, number-based goals from the tangible lifestyle goals

  3. Highlight your tangible goals and brainstorm what you’d need to do to make those real

Keep your goals visible so you can track your monthly progress and celebrate each milestone on your way to living your own rich life.

Your future is what you make of it. Now go make it awesome 😎

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Peak Freelance surveyed 213 freelancers at the end of last year to create this data-filled article. See where you measure up and make sure you’re charging your worth.

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The ability to go with the flow, and say “yes” to something — and then build on it — has been a key to her success.

Which makes us wonder... What other underrated skills do you have from high school? 🎺

Design Your Own Soundscape

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Whether you’re bored by silence or trying to drown out a leaf blower, a white noise machine can help some people focus better on the task at hand.

This one lets you design your own mix using rain, thunder, waves, wind, fire, birds, crickets, and more.

Sit back and pretend you’re at a bonfire on the beach 🔥or a peaceful coffee shop in the rain ☕. They even have recommendations for counteracting specific sounds.

Written by Becky Carruthers