Defining True Wealth: How You Can Change Your Money Mindset

If you’re a retiree, you should be using your financial resources to help you fulfil your idea of true wealth. The money in your wallet or bank account isn’t what defines you. It’s your mindset that either helps or hinders your productivity and happiness.

Defeating negative thoughts like discontent, discomfort, and vulnerability is a key step when it comes to being happy. Here are some tips that can help you develop a healthy, positive mindset when it comes to money.

Money Mindset

Understand the role money plays in your life.

First and foremost, you need to deal with the messages of dissatisfaction you may be sending yourself. Recognize how your money’s purpose has evolved. No longer are you in an accumulation phase, now your life is likely about transitioning. You’ll need to learn how to distribute what you have accordingly. This means defining and setting priorities so you can live a life full of purpose and meaning.

Instead of comparing yourself to others, use your time and talents to pursue things that make you feel truly prosperous.

Be gracious always.

There will never be a time when there aren’t others who have more than you. Likewise, there will always be others who have less. Staying humble and expressing gratitude can help push out feelings of unhappiness and discontentment. It can also curb fears that you might be missing out on something, or as the kids say, experiencing “FOMO.”

Live your life with honesty.

Life’s too short to pretend to be someone you’re not. Instead, it’s important to live with integrity. It’s okay to admit things you feel are mistakes or shortcomings. Learn from these things and focus on living your best life. You don’t have to be financially rich to be emotionally rich.

Protect yourself from those who might take advantage of you or your situation.

It’s okay to be vulnerable when you’re with people you trust, but you should also protect yourself from predatory practices. Unfortunately, there are a lot of scammers and unsavory sales practices out there. You may also need to be careful about succumbing to advertising and marketing ploys as well. Don’t let yourself get suckered.

Instead, ask yourself what it is you need to feel emotionally wealthy, and pursue those things. Skip over the things that other people imply you should have.