A balanced life or a centered life

We’ve all heard about the need to have a balanced life.  I’ve thought a bit about this and am not clear this is the best approach.
  

When I think about having a balanced life, my mind conjures up an unsteady platform floating in space on which I stand.  On this platform things some things get added

• spouse
• children
• friends
• job
• home
• hobbies
• etc

and others get taken away

• parents
• children
• friends
• job
• health
• etc.

Some of these weigh a little, others a lot.  We aren’t in control all the circumstances of our lives and therefore things will be added and taken away without our approval.   When this happens we have to shift other things on the platform to maintain its balance or it will tip and we might fall off.
  

Contrast this "balanced life" with a "centered life."  In a centered life the same platform exists, but in the center of the platform a great weight is present.  Because of this great central weight, additions to or subtractions from the platform are only a minor disturbance.  The heavier the central weight, the less the platform’s stability can be disturbed. 
 
I can see advantages and disadvantages to both.  What do you see as the advantages and disadvantages of a balanced life?  Of a centered life? 
 
Of course, a “balanced life” and a “centered life” are the extremes of a continuum.  None of us are likely at either extreme.  Where does your life fit on this continuum?  Are you happy where it is?  If your life is more centered than balanced, what is the center?