I like having money. I am fortunate enough to have a great paying job straight out of college, and to get continual raises since I’ve started my professional career while remaining with the same company. I know that I make a lot of money, and sometimes I have to ground myself and realize just how fortunate I am in that sense.
There are a few common sayings about having a lot of money; people will say things like “money can’t buy happiness,” or “more money, more problems.” The former is partly true, and the latter is a load of bullcrap. I greatly disagree with the notion that having more money means you will encounter more challenges in life, or that having more money is detrimental to your happiness. All of the billionaires that say they have it hard in life can wipe their tears with their stack of 100’s they have in their back pocket, suck it up, and go blow a few million on some “stress relieving activity” that most people will never have the opportunity to do in their life – something like taking a private jet to your lake house in Italy, or buying out the entire floor of a concert so you can have the artist to yourself.
Money can’t buy happiness – that’s true. However, the only reason it’s true is happiness is immaterial. You can’t go to the store and buy happiness off of the shelf. What you can do with money is elimate the problems that stand in the way of your happiness. Wealthy people don’t have obstacles that average people do. If a single mom of three is behind on her rent and is facing eviction because she chose to take her sick child to the doctor instead of paying rent this month, you can’t in a right state of mind tell me that she would immediately be happier if she had enough money to not worry about paying her rent, or about if she can afford to fill the prescription for her kid. While the situation is entirely different, I can use myself as an example too. Its not that I’m unhappy now, but I would be much happier if I could afford the things that I wanted without questioning where the money was coming from. I’d be happier if I could afford lessons towards a private pilot’s license, or an extravagant wedding, or a brand new Tesla. Instead, I choose to make payments towards a house payment, a great car that I already have, and then I have things that I have to make payments towards like student loans. These things don’t make me unhappy necessarily, but they are absolutely obstacles that I can’t get rid of without money.
It’s significantly easier to get rich when you start off wealthy. If you have enough disposable income to invest $1 million at a 7.5% return, you can make $75,000 a year without doing anything. The money will literally roll in because your already sizeable assets will make money for you. But if you consider the same return at $1000, you make an additional $75 a year. What a whopping difference. The only problem that rich people face is deciding what to spend their money on next. The idea of “more money, more problems” is the most ridiculous thing I’ve ever heard.
In closing, here’s a less serious thought for you: you may not be able to buy happiness from a shelf in the store, but you can definitely buy chocolate and ice cream which is essentially the same thing right?