Money doesn’t buy happiness, but having the right amount of money and earning it the right way can give you the next best thing to ‘happiness’ — peace of mind.
Money has whatever context you give to it. People talk about money as if it has an opinion or as if it’s some sentient entity. It’s not. Money responds to how you treat it.
Treat it as scarce and it will run away from you. Treat it as abundant and it will come to you. Think of it as evil and it won’t like you. Think of it as a means to a useful end and it will work with you.
For a society filled with people who ‘don’t care about money’ it sure seems to be a central issue that runs through everything — from your life to political discourse.
I can’t solve the macro-financial issues in society, but I can share the things I’ve learned about money over the years that can help you reach financial freedom.
I use a low bar to define financial freedom. I’m not retired. I could quit working for a while, but not forever. To me, it means not having to constantly worry and stress about money. I’m not rich, but I make a living doing what I love so it doesn’t feel like work.
That, plus I can just go to the grocery store and buy whatever food I want without stressing about it. Within reason, I can go out to eat often, take trips, live in a nice place, etc, all without having to break my personal bank or go into debt.
That’s huge. I want you to get there.
Try these ‘rules’ out and see how they work in your life.
Far too many people don’t have the income they want because the skills they use can’t earn a high income.
A common argument you hear — teachers should be paid like athletes. From an intrinsic value point of view, you could make that argument, but not from an economic one.
An athlete can entertain millions all at once while a teacher can serve 30 students maximum.
The more people you can help with your service or product at a time, the more money you can make.
Two, the market just values entertainment over education, period.
Last, the barrier to entry is extremely high for professional athletes — the low supply of athletes and high demand for watching them play equals big money. Simple economics.
This isn’t to say that teaching in and of itself isn’t a valuable skill. It is, but you have to tweak it to make it profitable.
For example, there are teachers who sell their lesson plans to thousands of other teachers. Or they take their talents to the digital sphere. I’ve seen an example of a chemistry teacher selling online courses to college students to help them pass their tests.
The market doesn’t care about the way you think the market should work. The market responds well to people with profitable skills. Whether you personally like it or not, you’re not going to make a high income unless you have skills, a service, or a product that warrants high income.