The most valuable book you will ever read
I am an expert on money. In my younger days, I spent a decade on Wall Street, working for a prominent investment banking firm and other trading companies. I sold securities, including money instruments and bonds, was a money market trader and managed money market portfolios in excess of $400 million. I know a bit about money. I noticed that many people had no idea about money, only that they wanted some. So I wrote a book, "Money - The Basics", to help people better understand money. And how to get some.
The purpose of money
The purpose of money is convenience. It’s lightweight, portable, easy to transport and can even be transferred electronically. Money can be used to purchase every kind of product or service a person might want or need. Money makes trade and commerce, between individuals and between nations, faster and more efficient.
Money is the standard of measuring wealth. All wealth is denominated in terms of money. Even hard assets (tangible assets) such as real estate and natural resources like oil, gold, diamonds, etc. are valued based on what they are worth if converted to cash.
In today’s world money is a basic necessity of life. It’s how you get food, shelter, clothing, transportation and all the other basic ingredients of life.
The fear of money
Many people, it seems, have a fear of money. Does the thought of having a lot of money make you uncomfortable? Cause you anxiety? If so, it may be that you are buying into the myths about money. Myths that are simply untrue. In fact, many of the most common statements about money are often misquoted, wrong, or were made by people who did not understand money ... or had none.
Let's look at a few of the myths about money ...
"Money is the root of all evil"
Everybody has heard this one. Unfortunately, it's one of the most famous misquotes of all time. The original quote comes from the New Testament and the correct quote is "the LOVE of money is the root of all evil". The love of money is an obsession and thus the true quote warns of the potential corruption that can derive from a love of, or obsession with, money (or anything else). The fact is that money itself is neither good nor evil. It is neutral. Money can be used for good or it can be used for evil. How it is used is a choice, and the choice of how to use money is in the hands of he (or she) who controls it.
"Money is power" (and power corrupts)
Money itself has no real power. For instance, if you were legally given 10 million dollars in cash (after taxes), put it in a safe deposit box, never touched it and never told anyone you had it you would have no more power than you do right now. The power of money comes from the use (or misuse) of it or the perceived benefit or threat by others. The money itself does not generate any power; it has to be converted into power. And whether or not you wish to convert money into power is a choice. And if one decides to convert money into power that power may be used for good or for evil, depending on the character of the person with the money.
"Money will change your life"
Let's hope so! Used wisely, money can greatly ease many of life's burdens and greatly enhance one's life. Or, if you have a weak character, choose to live in fear and worry, you can let money make you miserable. It's not the money, it's YOU. The important thing to realize is that YOU get to control the money, it doesn't get to control you. Want proof? Here's how much actual control you have over your money - in the extreme, you can always give all the money away - and be rid of it. Just like that. You can give it all to charity, you can throw it out the window, you can walk down the street and hand it out. It's yours and you can do whatever you want with it, including give it away. Gone. You can make it all disappear if you choose to do so. That may be a stupid choice but that choice is always yours. That's the ultimate power you have over your money and it rests in your hands. Money doesn't ruin or change your life or change you or take control over your life. Unless you let it. And since you have the ultimate power to get rid of it why would you let it ruin your life?
"Money can't buy you happiness"
This is true - if you are not happy to begin with. However, if you reasonably well-grounded, have a good value system and a little control over yourself, money won’t hurt you either. Contrary to popular wisdom, money and happiness are not mutually exclusive. In fact, money can greatly enhance the security, independence and well being of your life, your family's life and the lives of people you care about. Money may not buy you happiness but happiness can't buy you money!
To sum it up, the fear of money is often based on misconceptions. The truth is that money itself is simply an inanimate thing, doesn't know or care who does what with it, has no moral or ethical value and is a necessary commodity to have in the civilized world. Money, in the hands of whoever has it, has the capacity for great good or great evil, depending on who is doing the spending. It is not money that should be judged but the character and actions of the person (or entity) who uses it.
Money is nothing to fear.
Living well is the best revenge
The purpose of money is to conveniently pay for things. The result of money is financial security. The point of money is living well.
What’s the point of having money if you don't use it to better your life? Or the lives of others? I am not talking about extravagance or opulence (which certainly has its place if you want that) I'm talking about having financial security, and having nice things; a nice house, a nice car, a nice vacation, nice shoes and if you are a woman, nice shoes AND handbags. Money can be used to improve your life and your lifestyle. With money you can help family members and friends who need help, you can get better healthcare, you can get better dental care, you can get braces for your kids, send your kids to private school (if your local public school is not a good school), you can get a maid to clean your house once or twice a week (or every day), you can pay off all your debts, if you so desire you can get plastic surgery to improve your looks or look younger and, if you're a politician, you can get $400 haircuts.
When you don’t have money, or enough money, life can be difficult and, often, not very much fun. Without money you constantly struggle and worry and can feel deprived and resentful. When you have money you don't have to struggle, you don't have to worry about finances and you don't have to feel deprived and resentful. And, when you have money, you get treated with more respect and you are thought to be more interesting, smarter, and more attractive.
When you have money you can live well. And living well is the best revenge.
Money, however, is not the ultimate goal in life. The ultimate goal in life is happiness. Of course, you can be a lot happier if you have a lot of money!
Living well is the best revenge.
And, if you do have a lot of money, you can also help others in the world who are less fortunate. If you have a lot of money you can donate some of it to causes you believe in, you can help build schools and hospitals and help fund critical assistance programs in poverty stricken areas of the world. If you have a lot of money you can not only live well but you can also do a lot of good."
Want to know more about money? "Money - The Basics" is available at amazon
