The Feel Rich Project: Reinventing Your Understanding of True Wealth to Find True Happiness
Paperback: 211 pages
Publisher: The Career Press, Inc. (2016)
What is feeling rich? Is it about possessing consumer goods, various things and lots of stuff? Is it about having a certain amount of money in the bank? Perhaps it is about providing a high level of financial security for yourself and your loved ones?
Author Michael F. Kay, a financial life planner, CFP®, and president of Financial Life Focus, suggests feeling rich has very little to do with actually being rich, and instead, your beliefs and feelings about money drive how you see yourself and how you define rich for yourself.
Right off the bat, Kay informs the reader that money misery – feeling frustrated, angry, dissatisfied or generally lacking comfort around money related issues – is a condition that inflicts too many people. Later he notes it is imperative that readers separate their money reality from their money fantasy. The ability to separate the two is key if individuals want to settle on a healthy definition of wealthy, plan appropriately to reach their financial goals, and not suffer from money misery.
Throughout the book, Kay helps readers examine why they make the decisions they make and provides guidance on how to make the necessary changes to create a viable path to financial confidence, and ultimately, financial freedom.
That guidance is provided in the form of self-explorative worksheets located throughout the book. As an example, in Chapter Seven, Chart Your Plan, the worksheet starts by asking four questions related to income and earnings. Following those questions is a worksheet that provides a holistic view of a budget focused on items such as inflows, outflows, fixed costs, marginally controllable costs, debt service, taxes, etc.
Ultimately, author Michael Kay’s The Feel Rich Project is about helping the reader establish the proper money mindset. That mindset extends beyond just the numbers and considers values, beliefs, and behaviors.