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What Money Reveals About Us
There is an old saying that goes, “money doesn’t change people, it just reveals more of who they are.” I’d like to spend today’s blog dissecting and analyzing that statement, as I believe it to be 100% accurate. What this axiom is essentially alluding to is the fact that money removes the pressure of necessity, allowing one’s inner nature to be magnified.
I am now solidly in my third decade in this business, and I can tell you that I believe it to be true, both good and bad. I’ve seen all sides of money, revealing one’s true nature. I’ve seen people amass fortunes to leave their spouses or spend on ridiculous items. I’ve also had the pleasure of the contrast where money becomes an enabler for many to help their loved ones out or give generously to charitable causes.
The fact of the matter is, money is a powerful enabler at the end of the day. I do believe it is the ultimate magnifying glass into one’s soul. I’ve seen people feel guilty about having money, proud, embarrassed, conceited, braggadocios, humble, happy, and sad. Generally speaking, what I notice the most is that money truly doesn’t change people; it simply removes their constraints.
In all my time in financial services, I have yet to see someone go from unhappy to happy because they have come into money. To me, the biggest misconception when it comes to wealth is that it serves as a change agent. I couldn’t disagree more with that sentiment, and more commonly, it instead serves as an unmasking agent.
The Effect of Money
Think about the lottery effect, where most lottery winners end up right back where they started. I surmise this happens because their current lifestyle, in a way, is exactly where they are most comfortable being. It is a lot different than someone who worked their way up the corporate ladder to be CEO one day. This individual always innately had that need or drive to get to that level, so they could earn a different living and thus utilize their money for whatever they wanted to amplify.
Money, despite being this made-up concept, has so much deep-rooted attachment to it. The psychology of money and our attachment to it is a fascinating thing. It can hide or reveal insecurities, it can reveal someone’s vices, and it can show the best and worst sides of people all at the same time.
I find the more honest we can be with ourselves we can live our lives in alignment. I’m sure you can hear the inner stoic in me as I discuss this stuff, but I think it serves as a great reminder for us all.
How Do You Want to Live?
The question we should all be asking ourselves is what values we want to live our lives by, irrespective of wealth. Then do everything we can to live a life that is in alignment with those values. The hardest part is not straying from that guiding light, no matter what our financial situation becomes.
I am nobody’s judge and executioner, so if you want to live a life that is not aligned with my values, have at it. Just don’t let money be the driver of that life. It is a very dangerous thing when I see people attach real emotional weighting to money. It can come and go in an instant, and if we attach our state of mind to something we simply don’t control, we are destined to be disappointed at the end of the day (there goes the stoic in me again).
I say all this as mostly an observer of life and one who has a unique vantage point on the inner workings of individuals’ attachment to their finances. I can tell the happiest people use their wealth to simply amplify what they are doing. If they were given to charity before they give a lot more. If they were blowing it all on vices and toys, they would simply buy bigger toys and more vices.
The exercise I’d suggest is figure out what is most important to you as a person and what alignment you want to live your life in. Then let your finances work in conjunction with it all.
Hopefully, you found this inspiring and insightful. If not, know it has been below freezing for 3 weeks, and I am at my wits’ end (guess you know where I’m moving if I hit the lottery).
As always, stay wealthy, healthy, and happy.
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