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Archive for July, 2017

The Paradox of Money

 

I am blessed to work with some amazingly insightful people.

Not long ago I was meeting with a very successful entrepreneur.

We were talking about how well his business has been doing financially

over the last few years.

We were also discussing some of the challenges he has had in his personal life.

On a piece of paper, he drew two lines.

The top line represented the trajectory of his income.

The bottom line represented the trajectory of his happiness.

As the top line ascended upward at an ever- increasing rate, the bottom line made

only a small incremental change upward.

He had learned what so many before him have.

Increased numbers on a balance sheet do not equal increased happiness in life

He was experiencing one of the many paradoxes of money.

Here are some more:

 

The more you give it away, the richer you will feel.

Just as hoarding leads to a feeling of scarcity, sharing leads to a feeling of abundance.

The very fact that we have money to give away causes us to feel we have “more than enough.”

Just as we manifest feelings of scarcity when we hoard, giving money away

causes us to experience feelings of abundance and gratitude.

 

The more you hoard it, the poorer you will feel.

Hoarding money puts the focus on what you don’t have and contributes to a scarcity mentality.

What we focus on we manifest in our lives.

Hoarding contributes to a feeling of being without and can cause you to feel “poor”

no matter how many zeros you accumulate in your bank account.

 

People are constantly worried they won’t have enough

even though most of them earn more of it every week.

There are non-renewable and renewable resources.

Time is a nonrenewable and limited resource. If you waste your time

today, you cannot get that time back.

It is gone forever.

Money, on the other hand, is a renewable resource.

If you foolishly spend all the money in your wallet today, you can

probably make back all that money and more.

It’s impressive that we can make such a renewable resource seem so scarce.

 

For most people, there is no right amount. 

It seems everyone wants more yet nobody seems to think they have too much.

We all want more of something—more time, more patience,

more wisdom, and – yes – more money.

Do you have “enough” money?

If you did, how would you know?

Is your goal to become wealthy?

If you were wealthy what would that look like?

The feeling of wealth is most likely the relationship between what you have versus what you want.

If you think of wants and needs in the same way, you may have enough resources

to satisfy your “needs” but you will never be satisfied because “wants” are insatiable.

 

The thought of money whets our appetite, but the realization

of it seldom satisfies that appetite.

People don’t “want what they want.”

They don’t even want what their wants will give them.

They want what they think their wants will give them.

While the thought of more money or greater assets sounds appealing, that’s not what you really want.

Perhaps you think money will make you feel secure.

Perhaps you believe money will make you feel like you are “enough”; that your

net worth will somehow equal your self worth.

Perhaps you hope it will give you peace of mind or certainty or significance.

If you have those expectations of money, you may be setting yourself up for disappointment.

Money gives you a certain amount of comfort and money gives you choices.

And that’s about it.

 

It is said money is not the worth of a man but it is

the only thing we consciously plan to pass on to our loved ones.

When was the last time you heard a reading of a will that

began: “I hereby bequeath the following values to my children…”?

We have trusts and tax strategies and financial advisors and accountants—all in an

attempt to protect our money so that we can keep as much as possible while

we’re here and leave as much as possible to our descendants when we’re gone.

What we don’t have is a systematic plan to make sure our loved ones “inherit” our most cherished beliefs.

Perhaps we should invest just as much time and energy protecting and passing on our values,

beliefs, and legacies as we do making sure our money is held in safekeeping and passed on to future generations.

 

 

We certainly can’t live without money, and some of us have a hard time living with it.

Thinking about your thoughts to some of these seeming contradictions might help

you gain a better handle on the relationship you want to have with the money in your life.

CTS Consulting, Inc

3126 Berkshire Road

Baltimore, Maryland 21214

phone 410-444-5857

cell 443-286-2488