Building Wealth.

Money is a strange thing, and it makes people do even stranger things to get it. Some people spend their entire lives working at something they hate just to have it. Some people borrow it until they owe more interest than what they earn. Some people lie, cheat and steal to have it. And yet others give it away, to churches, charities, and the less fortunate.

One thing is certain, money makes the world go 'round. It facilitates trade between not only people but also nations. It motivates economic activity and gives people something to aspire towards. Essentially money is a medium, helping in the transfer of goods. Money holds only the value that people give it, which is true for most all things in life.

A vast and diverse pool of theories exist about money. I've read through and listened to many different definitions of money and come to some conclusions of my own.

1) Money is a good thing:

I've heard people say they hate money, that it inspires only avarice and narcissism. I reject this notion, believing instead that money only amplifies a person's personality. There are plenty of people with, or without, money that make a great effort to be charitable. Past just amplifying personality, money allows for an efficient transfer of goods. Markets decide on prices based on supply and demand, which wouldn't be possible if money was not around to act as a medium. Trade would be largely hindered by the inability to turn goods into a readily marketable security. Money fixes price disparity.

2) Money buys many things, but not happiness:

I'm not a particularly wealthy person, in fact last year I earned below the national poverty line. Of course I've thought that if I could only win the lottery, I wouldn't have a care in the world. I would retire the day I hit the jackpot and start buying everything I've ever wanted. I would own a mansion, lots of fast cars, the latest technology, anything I wanted. Oh, and I would be happy. In the past it has always bothered me to hear affluent people explain that they have never, truly, been happy. What the hell do they have to worry about? They can buy whatever they want! It can take a while to realize, but emotions have no price. They can't be bought or sold. Money can certainly make life easier and raise your standard of living, but it holds little power over happiness. Personal growth through charity, spirituality, and health lead to happiness.

3) Building wealth should be a personal goal:

Wanting money is often viewed as a bad thing and if money is pursued above all else, it can be. I don't believe wanting money is a character flaw in and of itself, but how it is sought can be destructive. Some people gamble until they have nothing left. Some people hoard money, afraid to spend it lest they become destitute. Still others obsessively borrow to obtain more money then they would otherwise have access to. All of these methods are destructive in their own way, and are too diverse to be handled here, which is why personal financial education is important. People must understand how to safely put their money to work. Our financial system is extremely complex, which is why personal financial education is so important.


This little rant obviously doesn't cover everything about money, just a few of my observations and beliefs. Money is a great and powerful force and we, as a global society, are better off for it.