Most people think that being rich will make you eternally happy. It’s something that’s pounded too much in modern society.
We’ve all heard the term, Money doesn’t buy happiness, which is true.
Yet many people think having a large sum of money equals success, and possibly more happiness.
Well, nothing could be further from the truth.
I believe it’s more of the opposite, especially as you get older.
That’s what I want to discuss here in this post.
My Recent Conversation With My Aging Grandmother
This past Memorial Day, I went to visit my grandmother, who’s getting older and slowed down a bit.
She’s sharp mentally, but I can tell she’s slowing down. It’s harder for her to go out and run errands, and often feels tired a lot.
She’s in great health, so I think it’s part of the aging process. She knows her limits, so she has to take extra precaution in the meantime.
As I was sitting with her in her living room, we had a conversation about what I’ve been up to.
For the most part, she does most of the talking in our conversations.
90% of the time, it’s her talking and me listening.
My parents joke about it a lot, as I’m perceived as the quiet person.
But at the same time, there’s nothing wrong with it. That helps me work on my active listening skills.
Anyway, there was a point in our conversation that caught my attention. It went something along the line like this.
Here’s what my grandma told me:
“I haven’t drove in the last 7–8 months. With that, your father keeps telling me I should sell my car. He’s like, ‘Why not get some money back if you’re not using it anyway’.
But I told him, ‘I don’t need the money. I have enough money right now, so I could care less.’
Besides, what if someone comes into town and visits? Maybe they’ll want to borrow the car to get around and go to places. So having it on hand would help if they wanted to.
But getting more money is not my thing. All I care about is making my family happy, and I want to provide those options to them when needed.
I don’t need the money. I’m very well off and don’t need anymore of it.
Money does not make me more happier than I am right now.”
_____
When she mentioned that to me, I was a little caught off guard. I never thought she say something like that to me, but it makes a lot of sense.
With my grandma turning 90 at the end of the year, she’s at a point where money is not a big priority- Or at least making more of it.
A lot of people these days are getting money as a means of survival, but that’s not what my grandma is at right now.
She’s financially well off.
In other words, she has the means to take care of herself, while also being generous in giving birthday and Christmas gifts to everyone in the family.
As much as money is necessary, acquiring more of it is not something she desires to have.
At this point, she’ll give some of it away every now and then. She’s already given away part of her inheritance, as she no longer needs it.
But it’s a clear indication that having more money won’t make you more happier as you get older.
It’s nice to feel good or have a sense of financial security, but it can old too fast as you keep building large amounts of them.
Why Get Rich After All
So what’s the point of getting rich after all?
Is it to buy nice things?
Is it to buy stuff to impress others?
We think of it as “Keeping up with the Joneses”.
It’s all nice to have, but you don’t need money to acquire more crap.
Unfortunately, many people do exactly that because they think it’ll make them happy.
In reality, they may feel good for the time being. But that initial excitement will easily fade off.
I can’t tell you how many times I’ve been in those situations.
If it’s getting a new iPhone, a new MacBook Air, or something neat, that excitement will fade off at some point.
Money is never about having large sums of it.
It’s never about buying more luxury goods or “nice to have” things.
The one thing I’ve learned about wealth creation is that it’s never about getting things to impress others.
If you think that way, it’s time to rewire your brain.
The one thing about wealth creation (if successful) is it can help you improve the quality of your life.
One example is improving your relationships with loved ones, or start new relationships with people you don’t know.
Being wealthy is about living the best quality life.
If that includes great health, great relationships, and having amazing experiences, that’s what it’s all about.
Using your wealth to create experiences you’ll remember forever is what matters a lot.
As far as myself, that’s what I’ve spend a lot of time thinking about the last 1–2 years.
I’m confident I can build long-term wealth now, but then what?
Do I want to be in position where I’m rich but have poor relationships and so forth?
That’s what I don’t want to do, so my priorities have changed.
I’m glad I’m thinking about it now so that way I don’t get into a position where I’m not making the most out of life.
Anyone can get rich through consistent effort and discipline, but will being rich make them happier?
Unless they use money to bring great experiences, most likely not.
It’s more proof that the older you get, the richer you are, you won’t be happy-
Unless you take the extra step to work on better experiences and relationships.
What Can You Do Next?
Making money while feeling unhappy can lead to a dissatisfying life.
If you’re financially well-off, what good is it for you?
For about a year now, I’ve been trading options to help build long-term wealth.
I’ve taken the initiative to generate weekly income, but also strengthen my financial skills to have a better future.
If you want to know how I do it, I have an eBook that goes over how to do that.
By focusing on 1% weekly returns, I’m able to build long-term wealth that can last for decades.
If you want to learn more, check out my eBook, “Nothing But 1%”, to see how I do it through options trading.
Until tomorrow,
-Eric
You Can Be Rich & Unhappy was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.