Money is one of those things that can get us twisted up. My mom thought anyone with financial assets over what she had was in some way evil. Mom was a bit of a communist. I know many people who could be considered quite rich and none of them fit the “evil” category. Money is a tool, something with zero intrinsic value. The value is derived from how we use it. Living in Western society, having money is obviously helpful. However, money only solves money problems; it won’t fix your relationship, it won’t make you a nicer person, and it won’t buy you love. Over-indexing on the importance of money — while not also investing in health, relationships, knowledge, and other assets essential to a happy, long life — is a path that doesn’t end well.
Money buys comfort, it buys access, it buys options for what we can do. It will not make you a better person, although some people will convince themselves that you are more interesting in direct proportion to how much cash you have. If you have it, try giving some to others in need — it can make a difference in their lives, and help you feel better about yourself. Win-win. And if anyone out there feels they have enough for themselves and their families for the rest of their lives, just give it away; try to be thoughtful, then let it go.
The big reason I strive to have some amount of economic security is that it allows me to spend more time with the people in my life who I care about; principally, my wife. It is not about wanting better cars, houses, and baubles; that stuff is fun but mostly just a sugar high that goes away leaving me longing for the next dopamine hit. After taking what was maybe my first real vacation in years this summer with my wife, I found that the going away part was nice but being with this person without all the noise of our busy careers was fantastic. Being able to have the time and energy to spend with the people who really get us — now, that is something worthwhile. The obvious question is: What are we willing and capable of doing to get us to that point? However, it has been my experience that having a clear goal for the “why” of money needs to come first.
Onward and upward,
David
