Let me warn you at the outset, the answer to this question, coming from an advisor with a practice that’s more than 20 years old, will surprise you!
We all know that what’s important is not money itself, but what money empowers us or enables us to do. And while this may not apply to you, many of us stop short of asking the next really important question, which is “What is it that I want to do?”
Do I want to be a free man/woman living in the mountains?
Do I want to be a playwright?
Do I want to sail around the world?
Even – Do I want to do nothing?
We all want to be happy, but while I might feel happy living in a tent, for someone else happiness might mean playing the violin and listening to the maestros performing live!!
Money is only as important as it can empower us to do what we want, isn’t it?
And having been fortunate to get a chance to work with so many people, organize their money to meet their dreams and aspirations, here’s the shocking truth I have discovered. Money can sometimes also be a hindrance to us accomplishing the very dream, for which we sought to accumulate it!!
We know how sometimes, someone who cares for us the deepest, won’t allow us to take the risks that we need to take, to be where we want to be. In a very similar rhyme, money can sometimes become our problem rather than a solution.
Do you-
- like to know how your portfolio is doing on a month to month basis?
- often think how you could make your portfolio earn more?
- like to count your profits?
- like to see that you are buying when the markets are “going to go up” and selling when they are “going to go down”?
- totally enjoy talking about money in parties and gatherings?
- worry about having enough money, even though your advisor tells you otherwise?
- spend time thinking of how to spend your money, because there is plenty of it?
- like to “understand” where you are investing and why, even though you really know you have a competent person taking those decisions?
In my experience these are signs that money isn’t the solution, but is probably the problem. It has become more important to us than our self, our life and things that we love.
An insightful study revealed that the world over people dying from having more food than required, is THREE times the number dying from not having enough to eat. It would be eye opening if we could have a study showing the number of people leading unfulfilled lives, from having too much money versus those who have too little.
- Devang Shah
March 1, 2021 |