"We are not rich by what we possess but by what we can do without."

True wealth isn't about accumulating possessions but finding contentment in needing less. This idea flips the usual notion of wealth on its head. Instead of measuring richness by bank accounts or material goods, it suggests that the fewer things we depend on, the richer we feel. It’s about freedom, really—freedom from the endless cycle of wanting more.

This concept has roots in ancient philosophy. Think back to Diogenes, the Greek philosopher who lived in a barrel and owned almost nothing. He was a bit of an oddball, sure, but he was trying to make a point: you don’t need much to live a full, happy life. Fast forward to today, and we’ve got the minimalist movement. People are decluttering their lives not just to tidy up, but to find a sense of peace and clarity.

Let’s bring this to life with a real-world example. Picture Sarah, a corporate executive. She’s got a high-paying job, a big house, a fancy car—the works. But she’s stressed to the max, always worrying about keeping up with her lifestyle. Then she takes a trip to a small village in Bali. She meets Ketut, a local who lives in a modest hut, grows his own food, and spends his days surfing and playing guitar. Ketut has very little in terms of possessions, but he exudes happiness and peace. Sarah realizes that Ketut, with so little, is far richer in spirit than she is.

So how can you apply this wisdom? Start small. Look around your home and pick one area to declutter. Maybe it’s your closet. Get rid of clothes you haven’t worn in a year. Notice how free you feel. Next, consider your habits. Do you really need that daily $5 coffee, or could you enjoy making your own at home? It’s not about depriving yourself but finding joy in simplicity.

Imagine you’re at a coffee shop—like we are now—and you’re telling your friend about your new approach. You explain that you’ve started selling off things that weren’t bringing you joy. Your friend looks skeptical, but you tell them how liberating it feels. No more worrying about the latest gadgets or fashion trends. You feel lighter, more in control.

They nod, intrigued, and you share a story. Remember that camping trip last summer? The one where you had no cell service, just the essentials in your backpack? That was one of the best times you’ve had in years. It wasn’t about what you brought with you, but the experiences you had—hiking through the forest, cooking over a campfire, staring up at the stars.

By the time you finish your coffee, your friend’s on board. They decide to try it too—maybe not as drastically, but they’ll start by clearing out their garage. You both leave the café feeling a bit lighter, excited even, about the journey to come.

See, it’s not about living like a monk. It’s about realizing that true wealth is in the experiences, the freedom, and the peace of mind that comes from needing less. Try it. You might be surprised at how rich you feel.