Welcome in! Over the last 16 years I have compiled personal net worth statements ranging from $35 million to more than $400 million. If I added them all up, it would be close to $2 billion in real estate, cash, stocks, bonds, hedge funds, private equity funds, venture funds, stock options, angel investments, note receivables, art collections, business interests, cars, boats, planes, trusts, private investments, et cetera.
People are fascinated with people who are wealthy. I'm fascinated with people and it just so happens that my professional experience has been with people who have very high net worths......on paper. Our business serves individuals who have a lot of complexity because of the financial abundance created by them or earlier generations and it will hopefully continue on for future generations. It's really, really interesting work. But check out this formula: a huge financial net worth DOES NOT EQUAL being fulfilled or even happy. Seriously. It EQUALS being able to buy and do whatever you want PLUS setting your kids up for financial security. It gives one the power of choice....in the material world.
Newsflash: It also creates and incredible amount of stress. A lot. I have developed a deep sense of compassion for people who have significant wealth. They are constantly judged and everyone assumes there are no worries because they have 'it all'. Not knowing where your next meal is coming from is less stressful than the burden that comes with the ability to do whatever you want. Trust me.
Everyone has a financial net worth - add up the value of everything you own, subtract everything you owe and there's your financial net worth. Hopefully it's a positive number. If you have never done this, it's definitely a worthwhile and sometimes scary exercise to see it in black & white.
I have the privilege of having hundreds of conversations that start because there is a lot of money; however we don't talk about the dollars. We talk about control, how people feel, what goals are they trying to achieve, why are they making a particular decision, their family, who will benefit, what will it look like in 5, 10, 20 years. I have the privilege of seeing beyond the net worth of their dollars and peeking into the net worth of their hearts and souls.
Here's my advice: do whatever possible to increase the Net Worth of your Soul. It's the most important balance sheet and one that you can't track in Excel.
Hang behind Door #5 for a while. I've spent my entire career here. I know you've heard that no amount of money or stuff will bring your joy. As you learned with Door #4, human connection is the source of fulfillment and it's FREE.
With love,
Katie