Time is Money & Money is Everything?
Busting money myths and increasing your net worth
by Beau Henderson
Follow the Money is what Richard heard growing up, and he bought into the story that everyone was selling: Follow the money, and it will lead to happiness. But sacrifices would have to be made along the way.
Money must come first, before friends,
before family, before even his own health
He went along with the story that we are all told and many of us still believe. He bought into the “just doing business” wink and handshake that brushes everything else aside because, as the saying goes, the end always justifies the means. When faced with a tough decision, Richard always chose money.
And he followed the money until one day,
he saw the truth about where it was leading him.
By then, it was too late…
As a young financial advisor, I looked forward to meeting Richard, a new client and a man worth several million dollars. A man who, on paper, appeared to have absolutely “made it”.
If you have bought into these money myths,
the equation that money = happiness, chances are you’ve got money.
And little else!
The day I arrived to meet Richard, his nurse answered the door and led me through his mansion. I learned then that the millionaire had sustained a severe and very dangerous heart attack. Both his son and daughter were estranged, he didn’t see his grandkids, and his wife had recently left. It was also then that I began to reassess my definition of what makes a life truly Rich.
One of the most important lessons my clients have taught me is that regrets come not from the things that we try,
but from the things we don’t try…
One of my own favorite relationship investments is visiting with retirees. I love to see the looks exchanged between couples who have been together for decades. Or the laughter that is shared between them before a story has even started because they both know it so well. Sometimes they step on each other’s lines; sometimes they get a little choked up. They’re so sure of the story, so sure they can tell it best without leaving anything out. These meetings are just priceless to me and when I realized that, I stumbled on a revelation.
Experiences, shared or had alone, become our memories,
the most valuable assets that you can own.
Unlike a car or a house, these assets never rust or break down, and no maintenance is required. Memories cannot be taxed, stolen or lost in a lawsuit, nor do they depreciate over time.
In fact, better yet, the more they are withdrawn and told over and over again, the better they get!
Memories incur no penalty, withdrawals can be made as early as the next day, and doing so only makes them stronger. What other asset can boast this kind of return?
I started asking my clients, after hearing a particularly funny or poignant story, “I bet you wouldn’t trade that experience for all your net worth, would you?”
And the answer is always, without exception, the same …
“No. No we wouldn’t,” they say.
“We wouldn’t trade it for all the world.”
Nothing can increase your net worth like the value of a unique experience.
Make an investment for yourself today, big or small, alone or with a loved one, and enjoy the immediate returns a unique experience can add to your RichLife.
Take a minute to share with everyone one of your most prized "unique experiences"
I’d love to know what it is and so would they!
Leave a comment below or
stop by our Facebook Page and share them right on the wall!!
Seeing YOUR face and reading YOUR RichLife comments on my wall makes my day!