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She has dedicated her career to helping people achieve financial freedom and prosperity.
However, Ormans definition ofwealthtranscends simple finances.
Wealth isnt just about money, Orman said.
Its a state of being that encompasses emotional, mental and spiritual well-being.
According to Orman, three internal obstacles often stand in the way of attaining true wealth.
Here are those three obstacles and how to overcome them.
Also seefive ways the middle class can build wealth over the next five years.
Fear
Fear is a powerful emotion that can affect your decision-making and stunt your financial growth.
This emotion can lead to inaction oroverly conservative financial decisionsthat hinder long-term wealth accumulation.
This knee-jerk reaction can actually lock in losses that may have otherwise recovered if the investments were left alone.
Knowledge is a powerful antidote to fear.
Overcome fear by educating yourself about financial options and taking calculated risks within your personal risk tolerance.
You cannot live in fear of what is going to happen, Orman said.
Shame
Shame is another internal obstacle that can have negative impacts on your financial health.
Anger
Anger is the third internal obstacle that Orman identified as a barrier to true wealth.
This emotion can come from feelings of injustice or frustration related to your financial situation.
For example, you may feel angry about your level of debt, income or financial upbringing.
Orman said the foundation of wealth is that of strength, courage and integrity.
Address the source of your financial anger through constructive methods, like creating a financial plan.
Practicing gratitude and focusing on what you’re free to control will also help reduce feelings of anger.
Ormans holistic approach to wealth underscores the importance of overcoming internal obstacles such as fear, shame and anger.
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