What Does It Mean to Be Truly Rich?
Hey, freedom seekers and dream-chasers! Society loves to flash “rich” as fancy cars, designer bags, or big houses. But as someone who’s built businesses and learned the hard way, I’m here to redefine “rich” and show you how to achieve true wealth—freedom. Let’s unpack what it means to be rich, the traps of materialism, the mental toll, and my steps to become truly rich.
What Is “Rich”?
Being rich isn’t just about money—it’s multidimensional:
Income Rich: High earnings from a job or side hustle. Great, but fleeting if you don’t manage it.
Profit Rich: Keeping more of what you earn through smart investments or business margins.
Time Rich: Having control over your hours to live life on your terms.
Freedom: The ultimate richness—choosing how you live without financial or mental shackles.
Society’s Obsession with Materialism
We’re bombarded with ads screaming “buy now, pay later!” Credit cards and EMIs make spending effortless, fueling a cycle of looking rich while being broke. You earn, splurge on a flashy watch or a financed car, then grind again to cover the bills. It’s a trap—society equates stuff with status, but it’s a hamster wheel that leaves you empty.
The Mental Toll of the Vicious Cycle
Chasing materialism doesn’t just drain your bank account—it wrecks your mind. The stress of juggling EMIs, the anxiety of keeping up appearances, and the fear of falling behind can spiral into burnout. I’ve seen friends lose sleep over credit card debt, trapped in jobs they hate to fund lifestyles they can’t afford. That’s not rich—that’s mental slavery.
Freedom Is True Rich
True richness is freedom: waking up without debt hanging over you, choosing work you love, and spending time with people who matter. It’s not about flaunting wealth—it’s about peace, purpose, and control over your life.
How to Become Truly Rich: My Steps
I’ve been broke, stressed, and stuck in the spending cycle. Breaking free took discipline and strategy. Here’s how you can become truly rich:
Earn: Start with a steady income—job, freelance, or side hustle. Learn high-value skills (coding, marketing) to boost earnings.
Save: Live below your means. Stash 30-50% of income in an emergency fund (auto-sweep FDs are my go-to) and take care of your insurances 1st.
Start a Business: Entrepreneurship scales income faster than a 9-5. Begin small—a consultancy, e-commerce store, or service gig. Look for businesses with small initial capital outlay, high automation and large scalability. Reinvest profits to grow.
Grow Income Exponentially: Diversify revenue—add streams like investments, real estate, or digital products. Automate and delegate to free up time.
Preserve Wealth for Freedom: Protect your money with diversified investments. Use the rule of 100 to determine equity, real estate and gold allocation in your portfolio. Avoid lifestyle inflation—say no to flashy purchases. Focus on assets that generate passive income, giving you time and freedom.
My Experience: Breaking the Cycle
Early in my career, I fell for the “look rich” trap—maxed-out credit cards for a fancy laptop and gadgets I didn’t need. The stress was crippling. Then, I shifted gears: saved 50% of my income, paid off my credit card debt in 4 months, started building a strong emergency fund, took care of my insurance and started investing in assets like equity mutual funds, sovereign gold bonds, physical gold and real estate.
Wrapping Up
Being rich isn’t about flashing wealth—it’s about freedom from stress, debt, and society’s materialistic obsession. Freedom to wake up when you want, do what you like, when you like and with whom you like.
Earn, save, build a business, grow exponentially, and preserve your wealth to live life on your terms. Build a corpus that pays for your dream lifestyle, insurance, expenses and your child’s future. Ditch the EMI cycle and chase true richness.
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