What Does “Being Rich”​ Really Mean?

When most people think of being rich, they think of having lots of money and being able to buy whatever they want and travel the world.

Growing up in Los Angeles, I would see fancy cars and big houses and think those people were so rich. I dreamed of one day having what those people had — I wanted to be rich.

But just because someone has those nice things doesn’t mean they are happy. We can only see part of their lives — a façade — without really knowing what’s going on or what challenges they are facing behind the scenes.

I made a video about this which you can see below. If you want more content like this then make sure to subscribe to the Be Your Own Boss Podcast Youtube Channel where Blake and I teach you how you can be your own boss.

Being rich isn’t just about money. It’s about time.

I once sat next to a sales executive on a flight who told me about the multi-million-dollar deals he made, the multiple homes he owned, his home chef, and his many other belongings. But he had missed his son’s first steps and his daughter’s soccer games.

He had a lot of money, but he didn’t have a lot of time with his family.

To me, being rich is about having the luxury of being able to control your time. It’s the freedom to step away from work to spend time with your spouse and kids, to be outside, and to pursue your hobbies and passions.

You can’t take money with you when you die, but the memories of time spent with others and doing what you love are lasting.

Money is still important, but it’s not the most important currency. Time is.

That’s why I love being an entrepreneur. I have the freedom to control my own time and schedule. And more than anything I own, that makes me feel like the richest person in the world.

Look beyond those fancy cars and houses to chase the kind of rich that really matters — being rich with how you spend your time.

We frequently get asked things like: What do we use for courses and email marketing? What platform do we use to find people to join our team? What tools do we use for project and task management? Where do we host and publish podcasts and how do we transcribe them? And More. Well, we just put together the Entrepreneurs’ Online Business Toolkit PDF which will give you a complete breakdown of the tools we use to run our 7-figure businesses and how we use them. Click here to grab a copy, it will be an invaluable resource in your entrepreneurial journey!


If you enjoyed the article and want more content like this here’s what you can do:

  1. Subscribe to The BYOB Podcast Newsletter to get notified when a new episode comes out (once a week).
  2. Subscribe to our Youtube channel where we talk about these things in much more detail including sharing our personal stories.
  3. You can also connect with us on Facebook, Instagram, Twitter, Youtube, and Linkedin.
  4. If you’re interested in sponsoring or have suggestions for the show, you can send us an email at morgans@byobpodcast.com.




4x Best-Selling Author, Speaker, & Futurist. Founder of FutureOfWorkUniversity.com. Exploring Leadership, Employee Experience, & The Future of Work

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Jacob Morgan

Jacob Morgan

4x Best-Selling Author, Speaker, & Futurist. Founder of FutureOfWorkUniversity.com. Exploring Leadership, Employee Experience, & The Future of Work

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