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Image: jupiterimages.comWe live in a world where we seem to have to first secure our wealth in order to enjoy what that wealth can bring. As we are brought up, we are well-conditioned to think about what we would do to earn a living. Most of us graduate with the thought of getting a high paying job and making all the money that we need to enjoy life.
Today I would like to ask you one question. Ok, let me make it two.
My first question is,…
1) How much money do you want?
Alright, I’m not your money genie. But seriously, do you even have an idea of how much money you want for the rest of your life?
I want lots of money. You want lots of money. We all want lots of money, enough money! But how much is lots of money? How much is enough?
Now before we get on to my second question, just think of a number – the amount of money that you think you will want for the rest of your life. I know it is difficult to calculate that in an instant, but just take a wild pick. Come up with a number right now.
And then move on to the next question.
2) Why do you need that much money?
Let’s assume that you have all the money that you want and will ever want for the rest of your life. Do you have an idea of what lifestyle you want to live for the rest of your years? Then, what will you do? Rather, what was it that you wanted to do, for which you wanted all that money?
How much did you say you wanted? I’m talking about the number you quoted in response to the first question. What wants did you have in mind when you thought of that amount?
This second question should actually be the first one. You should first know what you want to do, and then you should see how much money you need to do what you want to do. But I purposely ordered them that way, because that is the way most of us think. We tend to first want money, before we even know what we would do with it.
Well, those are the two questions that I wanted to ask you.
Did you have clear answers to both of them?
You see, money has become synonymous to success. People think they will be successful when they have loads of riches. So they want money first, without even knowing what they will do with it.
But hey, it’s true that unless you have the money, you cannot even think about doing something beyond what you can afford, right? After all, you have to live within your means, right?
Not quite!
Well friend, you are partially right in saying that you have to live within your means. You cannot blow out all the money that you have or borrow. And therefore you have to live within your means. In this context, money is what constitutes the means. But the act of living within your means is misleading. It is an incomplete concept. It’s true that money is the means, and, to complete that concept, I’d say, money is the means to an end. Money is just a tool.
Too often we confuse possession of money with the ability to do what we want. If you had a chisel, would you get a masterpiece? No. You have to carve it out. You cannot say you will think about your masterpiece after you have your tools. You have to think about the masterpiece first and then see what tools you will need to make it happen.
As you might have most probably realized from your [lack of] response to the above questions, if you were to get all the money you ever wanted, you would not be in a position to think about what to do with it then. Further, going by how the universe is known to work, it is very much likely that you will never get the money you want unless you know what it is that you want it for.
So, immediately after you leave a comment below to express what you felt upon reading this post, take a few minutes to ponder deeply upon these questions. Come up with the answer(s), and document them. Remember that these answers are very crucial to your success.
So, if you had all the money you want, what would you do?
Mark,
I can actually say I don’t need much more. I wouldn’t do much differently. Finished paying off some bills. Set up a nice retirement account. Travel more and not worry about working while I do it. Maybe buy a nice house on the beach rather than a small apartment across from the beach.
I’m not incredibly materialistic guy, although I like to have enough money to do what I like. Once all your needs are met and you have enough to cover “future” needs money really stops mattering in only becomes a marker
Steve,
It’s nice to hear your thoughts on this. They match my thoughts very well.
It is a very good thing to be able to say that you are close to satisfying the majority of your wants. I liked the fact that you said that money stops mattering after you have “enough” to cover future needs. But that brings us back to the question that I posed to everyone through this article. After all, how much is enough? And unless one has a good idea of that, money may never stop mattering.
For the majority, money never stops mattering. And it was mainly for those people that this post was meant to be wake-up call. A lot of people tend to work, work, and work, and do not know where to draw the line and take time out to enjoy and stop the pursuit for riches. That’s because they just want more and more of the green stuff, thinking that it will never be enough. And unless and until they define how much it is that they really need/want, they will never know where to slow down and eventually even stop.
Mark
Hi Mark,
I’m somewhat of a minimalist and consequently don’t have a lot of material wealth needs. Freedom in the broadest sense is what I crave. When I feel free, I feel good.
Riley
Hi Riley,
Thanks for visiting my site and leaving a comment. I appreciate it very much!
Minimalism is great! I’m pretty much a minimalist myself. I rarely want fancy material stuff for myself, and ironically that helps in generating more riches through savings resulting from less spending. It feels great to be detached from material wants to a large extent.
You mentioned a very important point – Freedom! I’m all from freedom, and that’s what this blog is going to talk more about in upcoming months and years. That’s the #1 item on my list of desires. Running after money forever will never be able to give that freedom to anyone, and that is why it is so very important to be able to set one’s true priorities and wants right. I think that’s the crux of the message that I want everyone to take home from this article.
Thanks for taking the time to leave the comment and adding value to the conversation!
Cheers,
Mark
This is so true. People think a bit backwards…money first…reason second. I think the first time I actually realized how backwards this is was after reading 4 hour work week. I only makes sense to figure out what you need the money for first. Then you can actually work towards something instead of having money for the sake of having money.
Hi Eugene,
Welcome to Secrets of Success, and thanks for taking the time to leave a comment. I was lucky to have spotted it when I went through the comment spam folder today. Don’t ask me why it got there
I’ve heard a lot about Tim’s book, the 4-hour work week, but never read it. There is one thing in my head that tells me that I should create my own reality instead of trying to emulate someone else’s, while there is the other part that says I’m a fool not to be learning from other people’s success. I don’t know, there’s probably something unique that I am meant to do, so I am keeping my fingers crossed.
I guess I drifted from the topic, but, yes, as you said, many people just want money for the sake of wanting money. I hope this article makes them give it a serious thought and revise their priorities.
Thanks for dropping by, and I’ll see you around.
Cheers,
Mark
Hi Mark,
Definitely makes you think… You’re right! Too often do we think of needing a lot of money before we take the moment to think about the reason for the money. I appreciate you sharing!
Great post!
Lorina Noble
Miss Mindset Makeover
Hi Lorina,
Welcome to Secrets of Success! I’m glad you found this post thought-provoking. Keep in touch. I’ll see you around on your site soon.
Cheers,
Mark
Money. Everyone needs it. But why is everone crazy after it.
To enjoy the life one need fresh and cool mind not the money.
@Mark, You have written a good post regarding this. Thanks.
Ricky.
I’d need 1 Billion Euros. I’d use it to make make my wife and myself happy.
[...] one gets, the more riches one tends to want. Being able to call yourself rich someday depends on what you plan to do with your riches. That’s a double-edged sword, because if you set just one very high goal for your desired [...]
Hi Mark,
My money objective is twofold:
1) Provide all that my family needs to pursue their dreams and to take care of their medical and retirement.
2) Fund a charity organization to organize sports programs for underprivileged kids around the world.
That’s about it for me and I feel the great draw of these two strong purposes for my life.
Cheers
One day i did an experiment, I asked myself how i would spend £1000 and really worked it out, it took a bit of juggling….imagine my excitement when the next day after work i found a cheque for a £1000 tax rebate in the post.Didnt buy those things though. I would spend my millions on a beautiful place to live, travel to other beautiful places, find a way to help the many beautiful people in the world, and write and draw and learn new things and mostly swim in the most beautiful oceans of the planet…Im sure when ive done all that i will be able to find new horizons to reach for
[...] one gets, the more riches one tends to want. Being able to call yourself rich someday depends on what you plan to do with your riches. That’s a double-edged sword, because if you set just one very high goal for your desired [...]