What Comes First: Financial Success or Peace of Mind? My Life-Changing Realisation as a Financial Freedom Coach

“Beta, Bas Khush Reh”: A Sentence That Changed My Perspective Forever

There’s a sentence that echoes in every Indian household—“Bas khush raho beta”—just be happy, my child.

As a parent and a financial planner, I’ve heard this sentiment many times, both at the dinner table and during deep coaching conversations with my clients. And yet, there’s a paradox here.

Because right after “be happy” comes “beta, get a good job,” “buy a house,” “settle down.” Somewhere between happiness and financial milestones, our peace of mind gets caught in a tug-of-war with our bank accounts.

Over the past three decades, I’ve helped hundreds of professionals, couples, entrepreneurs, and retirees navigate this exact dilemma.

And today, I want to explore a powerful question with you:

What truly comes first—financial success or peace of mind?

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The Money-Happiness Chicken-Egg Problem

As an advisor, I’ve seen two broad patterns:

• People with wealth who are anxious, tired, and emotionally drained.

• People with modest means who are deeply content, often radiating joy and peace.

At first, I thought financial stability naturally leads to peace of mind. But the more lives I touched, the more I realised it’s not that simple.

There’s compelling research from Nobel laureates Daniel Kahneman and Angus Deaton that shows income boosts emotional well-being only up to a point. After that threshold—often around ₹6-8 lakhs per month in urban India—more money doesn’t mean more happiness.

It aligns with what I’ve seen. Some of my most fulfilled clients aren’t the richest. They’re the ones who feel in control of their money, live aligned to their values, and focus more on experiences than possessions.

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The Cultural Lens: Indian Money Beliefs

In India, money is deeply emotional. It’s not just about survival—it’s about status, security, family duty, and honour.

One of my clients, a senior executive in Delhi, once told me, “Taresh, my peace of mind vanishes every time I think about funding my daughter’s wedding and buying a second property. Not because I can’t afford it, but because of the expectations around me.”

Contrast this with another client—a humble, retired professor in Rohtak—who told me, “I have no big house, no second car, but I sleep peacefully every night. I have what I need.”

In many Indian families, the pressure to give—to children, to extended family, to society—is immense. Money becomes a social currency, not just a financial tool.

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Wealth May Bring Security, But Not Always Peace

One of the most profound truths I’ve learned is this:

“While wealth brings security, it often comes with emotional pressure.”

High-income individuals in Mumbai or Gurugram may feel obligated to:

• Support extended family

• Pay for siblings’ education

• Host grand weddings

• Maintain lifestyle optics

And all of this—if misaligned with one’s values—can quietly erode peace of mind.

In my own life, I’ve had moments where I reached certain financial benchmarks—be it business revenue or investment goals—only to realise I wasn’t feeling the contentment I expected.

It took deep introspection (and a few honest conversations with my wife and children) to realise that money alone isn’t the measure of a rich life.

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Peace of Mind Actually Drives Financial Success

Now, let me flip the narrative.

Many believe peace is the result of success. But studies—and my own client work—reveal that peace can actually be the driver of success.

A Harvard Business School study revealed that people with high life satisfaction in their early 20s often earned more by their 40s. The reason? Calm, emotionally healthy individuals make better decisions, take smarter risks, and are more productive.

I’ve coached young professionals who, after mindfulness work and mental clarity exercises, made bold career switches or launched ventures—and saw both income and joy multiply.

Also read: How to Get Empowered: A Money Roadmap to Living a More Joyful and Meaningful Life with 10 Transformative Strategies

So here’s a new lens:

Happiness isn’t a reward. It’s a foundation.

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What Indian Parents Need to Rethink

As parents, many of us push our children toward “safe” and “secure” careers—medicine, engineering, finance—often ignoring their emotional or creative callings.

Yes, these professions bring financial rewards. But at what cost?

I often ask parents during my webinars:

“Do you want your child to be rich, or do you want them to feel rich from within?”

That pause—followed by nervous laughter—always reveals the struggle between fear and faith.

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What I Learned from Coaching a Single Mother

Let me tell you about Neha (name changed), a single mother from Pune. She came to me anxious, stuck between paying off a housing loan and funding her son’s college education.

Initially, she believed financial success meant earning more and more.

But through our work together, she learned to simplify her lifestyle, create a robust emergency fund, and set realistic goals.

Today, Neha is emotionally peaceful—and financially secure.

She told me recently: “For the first time in years, I’m not chasing money. I’m living with intention.”

That’s what true richness looks like.

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Bridging the Gap: My Richness Blueprint

At The Richness Academy, we teach something powerful:

Financial Freedom isn’t just a number. It’s a mindset.

And part of that mindset is learning to:

• Make peace with where you are

• Define success on your own terms

• Balance giving and receiving

• Prioritise joy, not just growth

In my method—the Richness Principles Blueprint—we explore how to align your financial journey with your life’s deeper purpose.

Because peace of mind is not a destination. It’s a way of travelling.

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So, What Comes First—Peace or Prosperity?

I believe the answer lies in balance.

It’s not about choosing one over the other. Instead, it’s about integrating both.

Here’s how I guide my clients to do that:

Peace of Mind Practices Financial Success Habits

Daily gratitude journaling Systematic Investment Plans (SIPs)

Digital detox and screen-time management Annual portfolio rebalancing

Time with loved ones and hobbies Tracking net worth quarterly

Therapy or coaching sessions Reviewing insurance and estate planning

Living below your means Investing in skills and upskilling

Each supports the other.

Just like yoga and strength training balance each other physically, emotional clarity and financial systems create internal and external stability.

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The Final Question I Ask All My Clients

Before wrapping up any coaching session, I ask:

“Are you chasing money because it brings peace, or avoiding peace while chasing money?”

More often than not, that one question opens up everything.

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Action Plan: 5 Steps to Cultivate Peace and Prosperity Together

1. Define What ‘Rich’ Means to You

Journal what richness looks like—not in numbers, but in experiences.

2. Audit Your Financial Stress Triggers

Write down what makes you anxious about money. Is it EMIs? Expectations? Insecurity?

3. Build Your Safety Net

A 6-month emergency fund is your first layer of peace.

4. Invest in Your Mental Fitness

Coaching, therapy, meditation, or even daily walks—whatever brings clarity.

5. Create Your Richness Vision Board

Visualise both financial goals and joyful experiences together.

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Closing Thought: Redefining Richness for a New India

Our generation has the privilege—and responsibility—to raise emotionally strong and financially wise families.

We must redefine success not as just money in the bank, but also peace in the heart.

Because true wealth is not in the zeros we chase.

It’s in the joy, calm, and legacy we leave behind.