On Purpose with Jay Shetty
5 Ways to Achieve a ‘Rich Life’ & Change Your Mindset from Scarcity to Abundance
Fri, 06 Dec 2024
What does a "rich life" mean to you? Do you focus more on what you have or what you lack? Today, Jay will redefine what it truly means to live a "rich life." While society often equates wealth with material possessions and financial success, Jay challenges this narrow definition and explores how richness can also encompass time, energy, relationships, and inner fulfillment. Drawing on personal experiences, historical insights, and anecdotes from his conversations with inspiring figures like Kobe Bryant and Tom Hanks, Jay illustrates how people can find peace and purpose by focusing on what genuinely matters. He also addresses the pitfalls of tying happiness solely to financial success, emphasizing that it’s not money itself but our mindset—whether driven by envy, ego, or gratitude—that shapes our sense of abundance. Jay further unpacks our personal definitions of wealth. Are we in a season of prioritizing career growth, family, love, or personal development? He explores how life’s richness comes from aligning with our true values and fully embracing the priorities that resonate most in each phase of life, without guilt or external judgment. In this episode, you'll learn: How to Define Your Rich Life How to Shift to an Abundance Mindset How to Find Purpose Beyond Money How to Focus Your Energy for Growth How to Live Authentically and Fully Richness isn’t about how much you have but how deeply you experience life. Prioritize what matters, invest your energy where it counts, and trust that each step you take toward alignment with your values brings you closer to a truly abundant existence. With Love and Gratitude, Jay Shetty What We Discuss: 00:00 Intro 02:39 How Do You Define Wealth? 06:59 What You Do Becomes Your Identity 10:26 How to Create a Rich, Abundant Mindset? 11:46 The Difference Between Resume and Eulogy Virtues 17:01 How Do You Spend Your Time and Energy? 19:46 Looking at Richness Beyond Money 22:47 The Five Regrets of the Dying See omnystudio.com/listener for privacy information.
Chapter 5: What are the five regrets of the dying?
Chapter 6: How do we spend our time and energy wisely?
Whenever any of you tell me, when I bump into you, that you've been listening, you've left a review, that you're enjoying and appreciating the guests and the conversations, I truly appreciate the depth of what you share with me. So if you ever see me, let me know. It means the world to me, and I'm so grateful to have you here. Today, as we talk about this theme of defining wealth,
defining success, not chasing and pursuing the things that other people are important, but actually focusing on the things that we believe are a priority, living our lives on our terms, focused and fixated on our goals that are truly ours, right? When someone tells me their dream, the first thing I ask them, if their dream is is really their dream?
Or is it their mothers or fathers, their sisters or brothers, their family members, their teacher in school, whatever it may be? So many of us use our time chasing a dream that isn't even ours. And in order to take us on this journey today, I want to ask you a question. And when I ask you this question, a lot of you may see it as a simple matter of math.
And the question can be easily answered by plugging it into Google or chat GPT. The question is, who's the richest man in the world? Now, it's probably safe to say that most of us define the word rich in exactly the same way, money. Who has the most assets or resources or stuff?
Who has the greatest number of houses around the world, a supercar collection, maybe horses, artwork, wine collection, swimming pools, tennis courts, whatever it may be. Maybe they own a football team. Now, if you go online, the answer comes up at once.
Right now, in the latter part of 2024, when I'm recording this, the richest man in the world is the tech entrepreneur Elon Musk, who owns X, which used to be known as Twitter, and companies like Tesla, SpaceX, and Starlink. If online estimates can be believed, today Elon Musk has a net worth of $263 billion. billion dollars.
Others on the richest man in the world list, which is heavy on fortunes derived from technology, are in second place Jeff Bezos, the founder of Amazon.com, with $224 billion. And down the list, Larry Ellison of Oracle, Bill Gates, the founder of Microsoft, and Mark Zuckerberg, the founder of Meta. But today I want to challenge us to look at wealth and richness through a different lens.
Now, I've never been the one to say money doesn't buy happiness. I think money can solve lots of problems. And I actually believe that learning to manage, invest, and grow our financial stability is a really important skill. And we have other episodes with experts on the show about that. But today I really want to focus on this idea of how we define wealth. what we think of as rich.
And the truth is, rich is personal. Two years ago, the financial services firm Charles Schwab conducted a survey of 1,000 Americans from 21 to 75. What does it take to be considered wealthy or rich, respondents were asked. When the results were crunched, the somewhat random answer came in at around $2.2 million. Now, why that particular figure?
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