(*hint: every single one is inward-looking)
You can look rich without being rich, and more subtly, you can be rich without looking rich. So, how do you know how you’re doing with your finances?
It’s not about how others see or perceive you even though that’s what most visible, nor is it about comparing yourself to others. It’s also not about how much stuff you have. And, it’s most certainly not about whether you have a “better” house or car than your peers.
Evaluating one’s finances is an internal assessment. There are going to be different levels of success, with a sliding scale reflecting everything from modest achievements to ultimate financial independence.
Below is how I think about the spectrum of financial success.
the Money Blawg Scale of Financial Success
(* in order of increasing levels of success)
Everyone’s situation is going to be different, and where you are in your career is going to make a big impact.
Lawyers just starting out in their careers may be looking to hit some basic milestones of financial success. As a mid-career lawyer, my aspirations are elsewhere.
What do you think about my (admittedly unscientific) scale of financial success? I’d be particularly interested in hearing about any differing thoughts!
