Greed is Good. I got your attention didn’t I? In the past week, two really interesting Twitter threads popped up in the personal finance space that caught my attention and that I interacted with. The first was on my friend Stefanie O’Connell Rodriguez’ Twitter feed. Basically, she was reacting to a comment she heard during a panel. Where the panelist said and, I quote “I want to make more money so I can give more money away.” Stefanie reflected that “Women should be allowed to define themselves in terms of what they can do for themselves-not just for (helping) others.” The next Twitter thread was on Elyssa from Brave Saver. She made the comment that “A lot of people think they need to be rich (not just to have some money, but be wealthy) to get what they want. It can make it seem like it’s the only way to get what they want. The focus on getting money rather than getting more of what they want (with the help of money). I felt like these comments needed more time for reflection and and I wanted to share my thoughts on money, wealth, and designing your best life. Becoming rich isn’t a bad thing, but these Twitter threads deserve a longer, thoughtful response.
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Show Notes
- I want to be rich. Seriously, so rich that I don’t:
- Have to justify that I like to buy organic food weekly from Whole Foods.
- Have to say “no” to all of the delicious treats that I want to purchase at the farmer’s market
- Have to explain that I like pretty clothes and want mani-pedis once a month. Looking forward to 2020!
- That when Murphy’s Law happens I don’t have to make a choice that threatens my financial, physical, or mental safety.
- I have choices.
- Why do I want to be rich? There’s a backstory. It’s my personal story with money. I’m a GenXer and I have a lifetime of messed up money stories.
- I was taught to be a great worker and work hard.
- Like most Americans I didn’t get taught the financial skills needed to grow and manage my money.
- I’ve been indebted my entire adult life…and real talk-it sucks. In fact, the closer I get to paying off my unsecured debt the more anxious I’m getting because I’m so damn done.
- However in the conversation that many of us are having about wealth we’re leaving some nuanced ideas about what is wealth out of the conversation.
- At the end of 2014 I decided to leave my job of 10 years and take the leap. It was a financially secure situation, I had a retirement account, dental, health insurance, and I could go hiking during the work day. But, it came at a cost.
- I worked with over 600 students in the US and abroad with immigration/admissions/events/emergencies/supervised student assistants/and administrative assistants
- I commuted sometimes 4 hours a day back and forth from Denver to the city that I was working in.
- I was suffering from anxiety and depression
- It was clear that I would never be given an upward promotion-only lateral.
- I felt unappreciated
- What I wanted
- Not to commute
- Time freedom and flexibility
- To spend more time with the people in my life
- To learn how to make money in a way that I enjoyed
- Time outdoors
- Freedom to study or go to dance class
- I also have
- Clean water
- Electricity
- Clothing
- Transportation
- The opportunity to educate myself
- Trips
- Degrees
- I have a considerable amount of wealth and access to a good life that many people wish for. Don’t get me wrong, my life is still a little messy. But, my home hasn’t been washed off the map like in the Bahamas or Texas.
- Basically, I designed my best life. Has it been easy. HELL NO it hasn’t been easy. In fact, it has been really difficult to do. I still had financial obligations to take care of.
- Debt
- Regular expenses
- Goals
- As well as personal obligations to other people
- I think that this is what Elyssa was alluding to. It’s possible that you may be able to create the life you want before having actual financial wealth.
- I want to ask everyone a question. Why do people feel so badly about admitting that they want financial wealth in their life?
- Having experienced financial insecurity where I literally was taking care of two people on Starbucks barista wages and student loans. I want cash money.
- Because I’ve been financially insecure. And, it really sucks. It really does.
- It’s ironic to me that I’m about to hit a major turning point in my financial life. Baring anything crazy, at the end of October I will pay off 5 debts, 1 more debt in November, and another debt at the end of December. Leaving me with 4 debts. I started my debt-payoff journey with well over 30 debts. And, growing my passive income will enable me to continue to live my life on my terms. Don’t get it twisted though.
- I work really hard
- As my actual cash grows what will change about my life? Well…check out what I prioritize
- Time with friends and family
- Time outdoors
- Dance class
- Time to study and learn
- Travel
- Basically…I would be living the same life with more cash.
- I want to finish the show with this thought:
- Wanting money isn’t bad.
- But, being a douche because you have money is bad.
- Wanting to help others is good.
- Forgetting to put your financial air mask on isn’t good
- Owning your financial identity is good.
- I’m not paying your bills. So, you do you boo-boo and I’ll do me. Hopefully, whatever we’re doing with our money is financially empowering
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Resources Mentioned
- Stefanie O’Connell Rodriguez’ Twitter: @stefanieoconnel
- Elyssa from Brave Saver Twitter: @ElyssaJK
- Get the 3 Things About Self-Publishing You Need to Know Tool Kit today! By texting: threethings to 44222. Or, click here to sign up.
- Take my free mini-course: Do It Ugly Today. Get it below.
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- Ryan and Carrie-Hashtag Colorado
- Melanie Lockert-founder of The Lola Retreat and author of Dear Debt.
- Phylecia Jones TedX speaker and creator of the speaking service iFindYouClose
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- Danielle Desir-Founder of The WOC Podcasting Community and The ThoughtCard website
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I am an obsessive foodie, but not self-righteous with it, love travel, meeting new people, helping you look good, and am freaked out by people who don't enjoying reading...something! Grab a Perrier, read my blog, feel free to drop me a line! Hope to hear from you soon.
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