We have all heard the expression … often passionately spoken. Money is the root of all evil. Is it truly evil to attempt to create wealth for you and your young family? Let’s take a look at this question.
Money itself is neither good nor evil. It’s simply a medium of exchange. It’s a way for people to trade one thing—their money, time, or energy—for other things, such as food, clothes, or housing.
What you choose to use your money for is what could be considered good or evil. You could create wealth and use it to ensure your children eat healthy, balanced meals or to purchase front row seats for the Daft Punk concert; or you could use your wealth to hire a hit man.
How you chose to use your money is a reflection of who you are and what you value.
Nearly Everybody Wants to Create Wealth
Do you want to see a young MBA squirm? Ask them, in mixed company, why they want to be an investment banker.
The obvious answer is “I want to make lots of money!” But, who would ever state that out loud to anyone but her closest friends?
So why the charade?
If you want to create wealth, do it. The more wealth you have, the more you can give away. Money also buys resources, such as more time to help more people, especially your family. If you are constantly trying to make ends meet, how much can you really help others?
If You Create Wealth, Think of The Possibilities
Speaking about how you can help others, yourself, and your family, reflect upon the potential virtuous results that wealth can “afford” you and others in a less fortunate condition:
- You might study harder in school
- You might work harder at your job to get that raise and promotion
- You might take more risks by starting a company, which creates jobs
- You might be able to help more people in need by giving away money or time
- You might be able to have the freedom to do things that you really want to do
- You might be able to stop doing things for money and start do things for love
You Have to Choose Between Wealth OR Family. Not.
Steve Siebold, author of How Rich People Think, spent nearly three decades interviewing millionaires around the world to find out what separates them from everyone else.
One of the more interesting distinctions for the purpose at hand was the last of 21 differences in thought between the rich and everyone else:
Average people believe they must choose between a great family and being rich. Rich people know you can have it all.
The idea the wealth must come at the expense of family time is nothing but a “cop-out,” Siebold says. “The rich know you can have anything you want if you approach the challenge with a mindset rooted in love and abundance.”
The Council of Disability Awareness has created a series of e-books that help individuals and families that are interested in financial success throughout their lifetime. The Young Families e-book provides tips and wisdom about how to think about money and how to responsibly protect it. In other words, these e-books provide a blueprint on how to achieve both love and abundance.
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