There are two kinds of people in the world. The first kind want
money and the second kind are lying, if only to themselves. Those of
us who have it, especially if we've had it all our lives and have been
taught what ought to be done with it and how to think about it,
understand it in a way that, well, too many people don't. Money isn't
like human solidarity or rational
thought where human happiness and functionality is both guaranteed to
exponentially increase with its application or a thing of which there
can never be too much of a good thing. Neither is money the root of all
evil that turns good men bad, rock stars into drug addicts, kids into
spoiled brats, or idealistic Charles Foster Kane's into melancholy
billionaires living in opulent Xanadus. No, my friends, money is like
fire. Immense amounts of good and productive things can be done with it
and it can be pretty fun to play with, even a bit irresponsibly at
times, but it can bring misery. Most of all, it can and will turn upon
those who fail to respect and understand its power. If you're living a
good life with good people in it and headed in a direction where you're
going to be positioned to accomplish things you want to accomplish, then
all of that is better with money. Those who think that they may find
happiness with money need to rejigger the old chestnut. Money does buy
happiness, but only if you know what to buy, and for whom, and why you
want to buy it. What money isn't is happiness in and of itself.
Power's always been about how you use it and money's about how you
spend, invest, save, and otherwise distribute it. Real rich people
don't swim in a Scrooge McDuck vault pool. I've tried it and it hurts.
Kidding, kidding.
Most of you weren't born with money. I think that's fair to say and I think it is then equally fair to say that most of you are going to be earning your money. Maybe you'll start your own businesses or climb to the top of your own profession and leave me in the dust financially, or maybe you'll have a high amount of relative wealth as you grow older and progress in your career. Whatever you have and whatever you do, ask yourself why you're working towards that money and what you want to use it for. Is there a person you want to use it to become or a well-defined goal you want to accomplish and, most of all, is the end game going to mean that you're happy? Maybe, like Daniel Tosh, a Waverunner is all it takes for you to be happy. If that's true, then go for it. If you're absolutely sure that whipping through the water on a lake somewhere with the wind flying through your hair and crystal clear water splashing about your thighs will make you truly content and whole as a person, work until you can afford such a vehicle. We've all got our reasons why money would make us happy and they are as unique as we are. Personally, I like money because it allows me to contribute to society and do some good in the world. Friends can be gotten out of sticky situations, I can give my young children relatives twenty bucks when they see me (someday), and generally be someone who is depended upon for the well-being and happiness of others. Nobody can get a significant amount of money without becoming responsible for the well-being of others and that responsibility only increases the more the money does.
Often, I admonish my friends to not hate the rich and I'd like to go beyond that to say that you shouldn't hate money either. You may earn a great deal of money someday and it's worth learning to respect its power, both destructive and constructive, so you're prepared on the day that it happens. For one thing, preserve it. How? This way:
That's all a list from the comic strip artist and humor author Scott Adams, and it's one of the best I've ever seen coming from four generations in the banking industry. I sure hope that stuff doesn't bore you because all that is very real and something you're not going to be able to avoid as part of adult life. Stop thinking that you're a more evolved being because you're not into material things. Make no mistake, YOU are a material thing and will need to concern yourself with material things in order to live, thrive, and survive. So will every last person about whom you care. Should you be concerned with material things are unnecessarily opulent, I.E. that you don't personally want? Think about something you're really into and a really nice version of that thing. You want it. Are you an artist who works from a computer? You want a tablet and a damned nice one. Chef? That Pampered Chef stuff looks pretty sweet, no? Musician? About time you got yourself a nice new set of whatever different instruments are called isn't it? There's a lesson here and a distinction with a difference. Don't buy a Lincoln Navigator because it's a status symbol of your wealth. Buy one because it's huge and luxurious, because you love Abraham Lincoln, because you loved Lincoln Logs as a child, because Flight Of The Navigator is your favorite movie, or any reason that comes down to, "Because I like it on account of it making me happy." If your reason is, "Other people think I should," or, "This will affect the emotions of others in the way I want," however, don't. Like fire, money is not good, money is not evil, and money can be one of the most powerful forces on Earth. You play with fire, you better be playing smart and you better have a sense of decency. Money's the same.
-Frank
Most of you weren't born with money. I think that's fair to say and I think it is then equally fair to say that most of you are going to be earning your money. Maybe you'll start your own businesses or climb to the top of your own profession and leave me in the dust financially, or maybe you'll have a high amount of relative wealth as you grow older and progress in your career. Whatever you have and whatever you do, ask yourself why you're working towards that money and what you want to use it for. Is there a person you want to use it to become or a well-defined goal you want to accomplish and, most of all, is the end game going to mean that you're happy? Maybe, like Daniel Tosh, a Waverunner is all it takes for you to be happy. If that's true, then go for it. If you're absolutely sure that whipping through the water on a lake somewhere with the wind flying through your hair and crystal clear water splashing about your thighs will make you truly content and whole as a person, work until you can afford such a vehicle. We've all got our reasons why money would make us happy and they are as unique as we are. Personally, I like money because it allows me to contribute to society and do some good in the world. Friends can be gotten out of sticky situations, I can give my young children relatives twenty bucks when they see me (someday), and generally be someone who is depended upon for the well-being and happiness of others. Nobody can get a significant amount of money without becoming responsible for the well-being of others and that responsibility only increases the more the money does.
Often, I admonish my friends to not hate the rich and I'd like to go beyond that to say that you shouldn't hate money either. You may earn a great deal of money someday and it's worth learning to respect its power, both destructive and constructive, so you're prepared on the day that it happens. For one thing, preserve it. How? This way:
- Make a will.
- Pay off your credit cards.
- Get term life insurance if you have a family to support.
- Fund your 401k to the maximum.
- Fund your IRA to the maximum.
- Buy a house if you want to live in a house and can afford it.
- Put six months worth of expenses in a money-market account.
- Take whatever money is left over and invest 70% in a stock index fund and 30% in a bond fund through any discount broker and never touch it until retirement.
That's all a list from the comic strip artist and humor author Scott Adams, and it's one of the best I've ever seen coming from four generations in the banking industry. I sure hope that stuff doesn't bore you because all that is very real and something you're not going to be able to avoid as part of adult life. Stop thinking that you're a more evolved being because you're not into material things. Make no mistake, YOU are a material thing and will need to concern yourself with material things in order to live, thrive, and survive. So will every last person about whom you care. Should you be concerned with material things are unnecessarily opulent, I.E. that you don't personally want? Think about something you're really into and a really nice version of that thing. You want it. Are you an artist who works from a computer? You want a tablet and a damned nice one. Chef? That Pampered Chef stuff looks pretty sweet, no? Musician? About time you got yourself a nice new set of whatever different instruments are called isn't it? There's a lesson here and a distinction with a difference. Don't buy a Lincoln Navigator because it's a status symbol of your wealth. Buy one because it's huge and luxurious, because you love Abraham Lincoln, because you loved Lincoln Logs as a child, because Flight Of The Navigator is your favorite movie, or any reason that comes down to, "Because I like it on account of it making me happy." If your reason is, "Other people think I should," or, "This will affect the emotions of others in the way I want," however, don't. Like fire, money is not good, money is not evil, and money can be one of the most powerful forces on Earth. You play with fire, you better be playing smart and you better have a sense of decency. Money's the same.
-Frank
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