Net worth: The amount by which a company’s or individual’s assets exceeds (could be less) their liabilities.
Those are 2 simple words with a boring meaning. But, it has become a very recognized measuring stick for greatness.
But really, though, at the end of the day does it really matter?
How about at the end of your life?
You could have the highest net worth in the world – on the day you die – does it really matter?
Hey Moguls, Shaun McCloskey here, and this is how we teach our students to measure net worth…
When I first considered this idea, it was a very new concept for me and I thought about calling it “life worth.” See, we measure our finances in assets and liabilities.
One adds and one takes away.
For quite some time I’ve viewed my life as what gives me life/joy and what takes away or steals from my life/joy.
I evaluate all that is going on in my life, and I thank God for all of the good things. I write down all of the bad things, the things that create strife and steal joy, and I come up with plans to eliminate them.
“When you do things from your soul, you feel a river moving in you, a joy.”
~ Jalaluddin Rumi
Make a change
In some cases, they are bad habits that I just need to stop doing, in other cases it may be related to a business venture or people. I’m not suggesting that we eliminate the people, but we do need to make a change.
We can’t change other people, but we can change ourselves. We may have to change the way we react to a certain person, or we just have to distance ourselves from that person.
If we are doing a job that we don’t like, we need to make a change. If we have thorns in our side that have been there for years, we need to be proactive in getting rid of them.
I’m not convinced that assets bring joy into one’s life, but I am convinced that liabilities steal it.
So for me, one of the things I want to eliminate in my life are the liabilities. Of course I have a list of bad habits, people who get under my skin and a few extra pounds that I’d like to get rid of as well...
But my whole point is that I don’t use my net worth to measure where I am in life, instead I measure my “life worth” and I focus on eliminating joy stealers and being thankful for the joy givers in my life.
Perhaps you should too.
And, you might want to check out this great lesson about what brings you joy by my buddy and business partner, Steve Cook.
“They say a person needs just three things to be truly happy in this world:
someone to love, something to do, and something to hope for.”
~ Tom Bodett
I’m listening…
How do you eliminate joy stealers? She below.
Stop thinking of your assets as net worth but as life worth.
Eliminate liabilities – they steal joy.
Be thankful for and surround yourself with joy givers.
Shaun McCloskey
is considered to be a very successful real estate investor, author and real estate coach by world standards, but he realized that he was working far too much and was too consumed by his real estate investing business. By implementing Lifeonaire life coaching into his own personal life and business, this is now a thing of the past. He currently teaches others to do the same.