Why the pursuit of money always crashes at a dead end
It seems that everyone is chasing the almighty dollar. But it’s not that everyone is greedy. There are plenty of people who aren’t, yet they still want the highest paying job, the job with the most benefits, or they want to start a business just to make money.
When I was younger, all I wanted was to be rich. And not just a few million, but billions of dollars. Even recently, when this site was just a couple of months old, I wanted to become a billionaire. However, something happened to me in the later half of 2008. A new light bulb went off in my head, it was an epiphany.
I realized that the pursuit of money crashes at a dead end. The road may be very long, but the dead end sign and the wall is guaranteed to be there.
Bought happiness has an expiration date
The biggest reason people pursue money is because they think the more they have, the more things they can buy and the more happiness they’ll experience.
One thing is slightly true about this thinking; money can buy happiness. Purchasing a brand new sports car can make you happy. But; the happiness is so short-lived.
This type of happiness expires until you buy something else that makes you happy, and then when the happiness for the new item expires you continue the cycle. This is why it’s so hard to see.
It’s shallow happiness that actually leads to less happy times. The more cars you have, the bigger the house, the more gadgets you have; the more responsibilities and worries you’ll create for yourself.
Your quality suffers
This is geared more towards entrepreneurs, but it can apply to almost any job or career you have.
When all you focus on is earning as much money as possible, everything else takes a backseat, especially quality.
You don’t really care about what you’re doing or how you’re doing it, you just want to be paid.
You look for a shortcut…
…but it doesn’t exist. The shortcuts to wealth and success are all smoke and mirrors.
When you look for the shortcuts and fail, you’ll find that you wasted more time doing that than if you took the long road there.
You crush others
You want that crisp, fresh pile of cash and you’ll destroy any competition that gets in your way to get it.
The thing is, these “competitors” may be your greatest allies, your indirect cheerleaders, and may even be future business partners. You need these people.
You disregard needs
Imagine you are an inventor that is really just in it for the money. You’d most likely look at products that people enjoy and figure out a way to combine them to make a maximum profit.
Now imagine you are an inventor that enjoys solving major problems and helping people make their lives happier and easier.
Who’s going to be more successful?
It will always be the second inventor. Why? Because that inventor tapped into people’s needs.
Passion is ignored
If you want to be truly happy and successful, you have to infuse your passions into what you do and your everyday life.
The pursuit of money ignores passions that really excite you and provide you with fulfillment.
In the end it disappears
At the end of the road of life, you won’t have all the money you’ve been grabbing along the way. It floats away. When you’re at your final hours, you won’t care about it and either will anyone around you.
The only thing that will stay with your soul are your memories. Memories of your friends and family, and the good times you had with them.
Let’s hear from you. Have you pursued money only to find that it leads to nowhere? Are you chasing the almighty dollar right now? What do you think of this article?
Please share in the comments below.
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12 Responses to “Why the pursuit of money always crashes at a dead end”
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Hey that’s awesome. I wrote about this recently from a little bit of a different angle, but the idea is the same. the article is called True Wealth is Not About Money… http://www.myonehundredthings.com/2009/02/true-wealth-money/
Your article really hits home with me. It’s not a compromise, and you’re not selling yourself short if you get to a point where you realize that money is not your ultimate focus. In fact, it gives you a minute to consider the fact that you already have much more powerful assets at your disposal. Money can get things done, true. but so can creativity, passion, skill and a host of other things you likely already possess.
I couldn’t agree more. The pursuit of money can easily cause a person to lose sight of all of the really important things in life. When you lose touch with friends, family and activities that make you happy; you lose more than you could ever gain in financial compensation.
Great article Christian!
You’re completely right. Money can get things done, but so can being creative and passionate. It just takes more work.
Exactly Jason! The green ink of money seems to blind people.
-Andrew
Money is a tough concept. It is easy to say “money is the root of all evil”. However, the true quote is “love of money is the root of all evil”.
The unfortunate reality today is that money is a very necessary thing. Money is required to buy the things we need. Even to purchase the things we want in order to pursue those great ideas. Money becomes a proxy score card of how well we’ve succeeded in pursuing our goals.
I think you are correct. Pursuit of extreme wealth is not healthy for the individual or the society in which we live.
But tell a poor person on the street not to worry about money and to pursue their dreams instead.
That’s a great way of putting it Margaret “love of money is the root of all evil”.
-Andrew
I agree to an extent. A great quote is that money is very important in the areas it acts and very unimportant in the areas it doesn’t.
I want to be wealthy because I believe I’ll be able to touch and influence more people. I also feel that by not being restricted to exchanging my time for money I’ll be able to do more things that are far more rewarding….Like investing more into myself and my family. Having a personal trainer and occasional cook, hiring experts to teach anything myself or family members wanted to learn. Being able to travel the world and helping others achieve the levels of success I am working so hard to achieve.
I also want to launch and invest in numerous start up businesses and help create jobs.
All of this requires a substantial amount of money/resources. Thus I will continue to pursue them.
Great Post
Hey David,
Glad you enjoyed the article. That sounds like an interesting quote and it makes sense.
I really like your mission in business and life. It’s very selfless! We need more entrepreneurs like you out there.
-Andrew
I wanted to mention that you’re right on about there being no shortcuts. I think there are loopholes, winning streaks, etc that come about from hard work. I wrote a post on how to make money fast that I think speaks to this directly…
http://www.myonehundredthings.com/2009/03/how-to-make-money-fast/
“The biggest reason people pursue money is because they think the more they have, the more things they can buy and the more happiness they’ll experience.”
(1)
Absolutely 100.00% correct.
Few things are as humanistic and have saved as many lives as the simple growth and pursuit of of wealth. As a very simple example, an earthquake powerful enough to kill a dozen people in California will kill hundreds of people in some less affluent country and thousands in a Third World nation. Greater wealth enables California buildings, bridges, and other structures to be built to withstand far greater stresses than similar structures can withstand in poorer countries. Those injured in an earthquake in California can be rushed far more quickly to far more elaborately equipped hospitals with larger numbers of more highly trained medical personnel.
(2)
“The more cars you have, the bigger the house, the more gadgets you have; the more responsibilities and worries you’ll create for yourself.”
The more you have the less worries you will have. Compare the psychological well being of those who are financially secure vs. those who don’t have any money.
(3)
“When all you focus on is earning as much money as possible, everything else takes a backseat, especially quality.”
Actually quality is a sideffect of maximizing profits. The Toyota production system which fanatically focuses on quality will beat UAW union run American brands every time and send them to the bailout line.
(4)
“When you look for the shortcuts and fail, you’ll find that you wasted more time doing that than if you took the long road there.”
Obviously shortcuts are bad. But exactly where the long view is taken is by those who are seeking profits. Just read Warren Buffett’s philosophy of value investing. On the other hand where shortcuts ARE taken are those who do not seek profit. A DMV attendant doesn’t have to be nice to you, they will keep their jobs because they make their money from government.
Another example, in the early twentieth century, both Sears and Montgomery Ward were reluctant to begin operating out of stores, after decades of great success selling exclusively from their mail order catalogs. It was only when the 1920s brought competition from chain stores that cut into their profits and caused red ink to start appearing on the bottom line that they had no choice but to become chain stores themselves. (In 1920, Montgomery Ward lost nearly $10 million and Sears was $44 million in debt.) Under a non profit system, they could have remained mail order retailers and there would have been little incentive for the government to pay to set up rival chain stores to complicate everyone’s life.
(5)
“You want that crisp, fresh pile of cash and you’ll destroy any competition that gets in your way to get it.”
Absolutely 100.00% wrong. The competition that exists by seeking profits is so radically different that it is actually of a diametrically opposite character. It is not competition over any limited, nature-given supply of means of subsistence. On the contrary, it is a competition in the positive creation of new and additional wealth. Ford and General Motors, IBM and Apple, and so on, are not competing in the seizure of a fixed supply of automobiles or computers provided by nature. They are competing in the positive creation of automobiles and computers—of ever more and better automobiles and computers. While animals in the jungle chase prey, which they seize with their teeth and claws, producers under profit seeking chase dollars, which they gain from willing customers only by virtue of sending after the dollars more and better goods—goods which they have created.
(6)
“It will always be the second inventor. Why? Because that inventor tapped into people’s needs.”
Yes, because what is at the root of all profit? Meeting human needs and creating value for our fellow human beings, it is the highest and moral human pursuit.
(7)
“At the end of the road of life, you won’t have all the money you’ve been grabbing along the way. It floats away.”
Nope, I think people should care about future generations and the conditions they will inherit. The best way to care for future generations is to make profits today. For example, why should an old man plant a tree in front of my house if it will grow to full height in 40 years where other people will enjoy it? Because it increases the value of your house/neighborhood today based on the future conditions which will make you more money today.
(8)
“The only thing that will stay with your soul are your memories. Memories of your friends and family, and the good times you had with them.”
And the best way to ensure happy memories and stable families is lots and lots of money. A family that takes lots of vacations, lives in a good neighborhood, (etc. etc.) will have more nice memories than a lazy family who lives in a trailer.
(9)
Conclusion: Looking at the history of the Soviet Union and all of its socialist republics like East Germany leads to the inevitable conclusion that not pursuing money (aka not pursuing meeting the needs of our fellow human beings) always crashes at a dead end.
Hi “TS Smith,”
Thanks so much for submitting your comment and opinions. They really got me thinking.
1.) “Few things are as humanistic and have saved as many lives as the simple growth and pursuit of of wealth.”
I could counter this claim and say that few things have killed as many lives as the simple growth and pursuit of wealth.
2.) “Compare the psychological well being of those who are financially secure vs. those who don’t have any money.”
This is can certainly understand but there are many people who are extremely poor but stay positive and keep hope close. Their psychological well being may be just fine.
“The more you have the less worries you will have.”
Personally, I just can’t see how that’s possible. If I had a lot of things I would be worried about losing them. But my mentality is that “when you’ve got nothing, you’ve got nothing to lose.”
3.) My thinking behind this is on the personal level, not necessarily on the corporate level.
4.) “On the other hand where shortcuts ARE taken are those who do not seek profit.”
I would beg to differ. It’s obviously not true for everyone but many of those who are pursuing wealth want it right away. And I’m sure many give into the temptation of taking a shortcut.
5.) Again, this article is meant for individuals, not corporations.
6.) “Yes, because what is at the root of all profit? Meeting human needs and creating value for our fellow human beings, it is the highest and moral human pursuit.”
I like to think that there are some people out there who want to meet human needs and create value for others just because it’s the right thing to do, not for profits.
7.) “For example, why should an old man plant a tree in front of my house if it will grow to full height in 40 years where other people will enjoy it? Because it increases the value of your house/neighborhood today based on the future conditions which will make you more money today.”
Perhaps he wanted to the tree to grow long after he’s gone because he just wanted people to simply enjoy it, not because it will increase the home values in the future.
8.) “And the best way to ensure happy memories and stable families is lots and lots of money. A family that takes lots of vacations, lives in a good neighborhood, (etc. etc.) will have more nice memories than a lazy family who lives in a trailer.”
So a family who is poor can’t have any good memories? My family was very poor when I was growing up. And when I was young I told my mother; “we might not have a lot, but we sure do laugh a lot.” We laughed a lot about and during some of our toughest years. There are plenty of families who have lots and lots of money and are miserable.
Thanks again for responding.
-Andrew
I think it basically comes down to your own personal human nature, if your greedy you’ll most likely not be happy until you have alot of money, if your not so greedy you can be happy with or without money and so on and so forth, it really just depends on the person.
Interesting thoughts J. Thanks for sharing.
-Andrew