What started as a youthful ambition to find financial security evolved into a lesson on the true meaning of wealth. My journey taught me that a fulfilling life isn't defined by a bank balance, but by the moments of joy and genuine connection we create along the way.

Back in 2007, I journalled my desire to accumulate $400,000 AUD as a financial cushion. I had hoped that this amount, yielding a 5% return, would provide a cash flow of $20,000 per year. I had imagined this would be enough to cover my rent in Sydney indefinitely. Almost 20 years later, after inflation and currency depreciation, that amount is barely enough to cover rent, not to mention that a safe, guaranteed 5% yield isn’t that safe or easy.

Those were some naive thoughts.

I was also a man in a hurry, wanting to reach that goal within two years. Needless to say, I didn’t accomplish it. I was a prodigious saver, but I didn’t earn enough to have the savings rate needed to realistically achieve the target. It was just magical thinking that some astute investments would somehow sort things out for me. The urgency stemmed from turning 30, a new decade of life that felt relevant for taking stock of my achievements.

30 came and went. I hadn’t attained anything I had hoped for. From my loose memory, I had amassed a small fortune by my standards—around $150k—but nowhere near my target. I was also alone and lonely, focusing solely on my job, believing it would be my ticket to riches. There was a small possibility that the equity I held in the company would be the key to the victory I desired, but it would be a while longer before I realized it was a false hope.

Looking back, my actions seem foolish. Not only had I obsessed over one metric—wealth—I also buried myself in work to avoid contemplating how little progress I had made. I now understand that there’s much more to a great life: it’s about the joys of being in the moment: the good laughs, the interactions with others, and the experiences from doing things and visiting places. Wealth grants me access to these things, but they are not so costly that one must fixate on this single parameter above all others.

Spending time to figure out what is meaningful and enjoyable, and then trying it out before committing more time to chasing money, seems like a better shortcut. Otherwise, you might defer these experiences, only to realize later that what you sought isn’t what you really wanted. I just wish I had learned these lessons much earlier.