Happiness does not come from money. This may seem like a strange post coming from a blog that talks about growing wealthy, but it really doesn’t. Each day I see a lot of people trying to chase happiness through new cars, expensive clothes, a promotion at work, an elaborate vacation, and it seems like each one of them is miserable.
The point of acquiring wealth is not that it will lead to happiness, but that it can lead to security and freedom, which is helpful when looking for happiness. If you have enough income from investments, you will be able to quit your job and start your own business doing something you love. Even if you love what you’re doing currently, you can live without worrying about layoffs or raises because you’ll have enough income to tide you over.
If you have enough wealth, you’ll be able to do things on the spur-of-the-moment like go to friend’s weddings in another state or other special events. Maybe take a trip out to the coast for a weekend. Maybe just go out to a nice restaurant for a special occasion.
Finally, when you get older and start needing things like medical care and assisted living, you’ll have the freedom to choose the care you want (assuming all of that freedom has not been taken away by that point through legislation). You’ll be able to afford a live-in nurse, or the senior home that Medicare doesn’t pay for. You’ll be able to pay for the surgeries that make life better. You’ll also have the money in retirement to travel and enjoy life, rather than worrying about every dime.
The truth is, I feel sorry for the people with the new cars. I think of the thousands of dollars they are losing each year on depreciation. I feel sorry for the people with the expensive clothes. I see that $100 shirt selling in a yard sale for fifty cents. I feel bad for the people on lavish vacations who stick their kids in daycare or leave them with relatives (or a nanny) and miss out on the family time because they’re too busy “living the dream.”
Happiness doesn’t come from a store. Happiness is enjoying and being thankful for what you have and giving some away to other individuals in times of need. You build up wealth to create freedom, not happiness.
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Disclaimer: This blog is not meant to give financial planning or tax advice. It gives general information on investment strategy, picking stocks, and generally managing money to build wealth. It is not a solicitation to buy or sell stocks or any security. Financial planning advice should be sought from a certified financial planner, which the author is not. Tax advice should be sought from a CPA. All investments involve risk and the reader as urged to consider risks carefully and seek the advice of experts if needed before investing.
Picture Credits: Michal Zacharzewski Downloaded from stock.xchng