Hey guys!
Found this outline in my draft posts to expand upon one day, but after re-reading it I think it speaks pretty well for itself :)
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What money fixes:
- Anxiety
- Safety
- Stability
- Worry
- Comfortability
- Desperation
What money does not fix:
- Love
- Self-worth
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Happy Labor Day! Keep on hustling, but don’t let it consume you!!
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Also does not fix:
The past
Being dead
Those 24 hour stomach bugs that every human has to endure because there’s no cure-cure except time and your doctor going “remember to drink lots of fluids and eat saltines.”
Haha… true on all accounts.
Every time I catch myself saying I wish I were Warren Buffett I have to remind myself that I do not want to be 80-something years old right now, which helps me feel a lot better about not having billions to my name :)
Also, money does not fix purpose or meaning in life, it does not fix bad communication (which can destroy just about anything), it does not fix relationships other than “love” relationships such as friendships or work relationships and thus does not fix belonging issues. The nice thing about money is, if you are not stressing about it, you then have more time to figure out other things. Also, if you are a real master at it (return early type) you have significantly more time to devote to figuring out other things.
I am a bit surprised that you J$, a guy who is all about values, has such a short list of things that money does not fix. For example, if you have no idea what your values are (God/Goddess help you, but in this time of huge exposure to lots of conflicting communications, not that unusual), money will not fix that.
Interestingly, if you are unclear on your values, and you track all your spending for a month (or so) and then ask yourself things like, Am I happy that I spent $___ on _____ last month? you can back your way into understanding your values. But if you can ask yourself how you feel about various things in your life and actually answer yourself, you don’t need a budget to figure out your values.
(Sigh) Life – so complex!
Jane
I agree with you 100%. This wasn’t meant to be a fully exhaustive list, just a quick reminder of why it’s important to pay attention to money, but to not confuse it with the end all be all. If I put every single thing down it would have been 100 pages long :)
It does not fix The Stupid.
You’d be a wealthy woman if you could figure out how to do that! (And we’d all pitch in to thank you for it, too!!)
16 Words Of Brilliance.
Glad you enjoyed it, man :) See you soon!! Unless you’re having too much fun being retired now?!
So true – definitely noticed myself worrying less now that I have proper savings and control of my money
Good! Congratulations!
So true.
Also, aside from Mr B’s age, I would not want Warren’s family situation either.
Whilst on the subject of Warren B – he is often quoted as telling people to buy the index …. but I only realized the other day that he does not do this himself. A little paradox to mull over.
Yeah, the relationships in his family aren’t the greatest :( I’m okay with his indexing advice though as he knows what it takes to really research and understand the market and that 99% of America can’t/won’t do it.
What money provides:
– Freedom
– Time
– Opportunity
Hell yeah, son!
Is it really paradoxical to say if, unlike me, you aren’t one if the top investors ever then you’ll almost certainly do better investing in the index? The research is clear, it’s the advice he gave his own kids and he certainly put his money where his mouth is with his 10 year million dollar bet on the index against a hedge fund manager.
Yup! There are a ton of people who can beat index funds, but not *every year*. So it’s definitely the smarter *long play* than trying to kill it year in and year out.
Short and true article. Money = stability. But don’t forget that money makes money even if you don’t have it, there are a lot of opportunities, for example, business loan, education loan e.t.c. Choose yourself and use It smartly.