How do you know when you are truly wealthy? Your perception of prosperity will most likely change throughout your life. At the age of 5, being prosperous is having your favorite toys within reach, being able to eat ice cream after dinner, and being allowed to stay up an hour later than usual. At 16, it’s the ability to drive your family’s old beat-up car, by yourself.

In your early 20s, you most likely felt wealthy if you could successfully pay off your student loan payments, while still having the reserves to keep a small apartment and money to hang out with friends. In your 30s, it usually means getting a nicer home for your changing needs, being able to afford a couple of nice vacations a year, and a nicer car. Your 40s are marked by how you can provide for your family’s education and your own retirement. In your 50s, it may become more about how much time you can take off and still live the lifestyle to which you’ve become accustomed. In your 60s, it’s about how far you can stretch your dollar and scale back on the need to work to support yourself while helping your children launch their own families. Prosperity viewpoints are age-dependent.

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