This post is part of a miniseries on my quarterlife (re)invention process. I left off discussing my strategy of beginning at the end, and the next few posts will provide more detail on the various goals I’m working towards. If you’re evaluating your life in a similar manner, maybe some of this will strike a chord… and if you’ve got things figured out, please feel free to chime in with advice! Without further ado:
My first goal is to be rich.
Not rich in the sense of Warren Buffett/Donald Trump– although that would be nice– but rich in the context of my own life. Frankly I consider it “being comfortable” rather than “being rich,” but I also realize that I am already incredibly wealthy in comparison to individuals in developing nations, and I might as well recognize that the ideals I strive for encompass far more than the basic necessities. Why is this the first goal I’ve chosen? It’s not more important than health or happiness, but the metrics are much easier to track. Also, all three are intertwined, and I have to start somewhere.
Lack of money can create stress, force uncomfortable decisions, and generally introduce quite a bit of uncertainty into life. While more money does not necessarily make you happier beyond a certain point, having enough money for the basics may allow you to escape some stressors and generally lead a more fulfilling life.
Early on (say about 8th grade?), I realized that in order to feel secure, I needed to achieve a level of earning power that would not limit my options– to learn, to travel, to make a positive impact in my community. That’s a vague goal, to be sure, but it’s one that works for me personally. Money is only as good as what you spend it on, and although it’s backwards in a way, I’ll start with a focus on the spending part and follow up with dollar estimates in a later post.
Money and Family
Today, many families are forced to choose between an education for their children, or nursing care for aging parents. As early as high school, my female peers started talking about marrying rich, instead of marrying for love. Maybe I was more idealistic than most at that age, but hearing such sentiments just rubbed me the wrong way. I’ve also witnessed firsthand the devastation of families when the primary wage-earner has a catastrophic accident, and can no longer work– in the worst cases, social services gets involved, children are placed in foster care, and both parents spiral into depression. (I’m not referring to my own family, thank goodness, but to patients I’d cared for throughout my clinical years.)
I’m not afraid to admit that I’m scared of having to make such a decision. I don’t believe that Social Security or Medicare will actually provide any benefit to my parents’ generation, let alone my own. And you know what? I may be overly cautious, but confronting that fear and taking steps to prevent it go a long way toward my psychological security.
I felt that I would be ready for a family only when I could provide for all of us on my salary alone. Maybe this is more of a masculine perspective, but that begs the question, why should it be? The females of most species tend to be the nurturing, caring ones, seeing to the needs of family members. Why, in a money-based economy, should that responsibility not extend to financial nurturing and caring?
Money and Love
For all my pragmatism, I’m also an unabashed romantic. Even before I wanted to settle down in a serious relationship, I kept thinking, “What if my perfect man is an penniless artist/writer/musician?” If push came to shove, and I had to make a choice between an amazing partner who couldn’t support himself, and someone ok who was more responsible, I’m not really sure I could find an effective compromise. My financial goals were designed to avoid that crossroads, and luckily I found the perfect partner who is creative AND responsible. He also happens to be financially savvy and either one of us could support a family on our salary alone.
Now that I’ve achieved a level of earnings that allow me to save significantly for retirement as well as healthcare costs, I feel a lot more comfortable. Current goals include continuing to save towards retirement while increasing my nest egg for a down payment, and educational costs for our future children.
Money and Career
If I won the lottery tomorrow, I know exactly what I’d do with the money– I’d quit my current job but definitely wouldn’t stop working. My work/life balance is quite enjoyable, and my personality is well-suited by having projects to keep my mind engaged.
While my job is currently a way for me to learn valuable transferable skills while furthering my financial goals, I want to get to a point where I can do good AND do well. The golden handcuffs are ok for now, but by starting up my new social venture in parallel, I hope to transition sooner rather than later– ideally in the next several years.
Rich isn’t a number, it’s a state of mind. I’m quite happy with my current situation, but as my environment changes, I must continue to adjust in order to maintain that level of contentment and security. Maybe you can’t buy happiness, but you can definitely earn it.
What does “rich” mean to you?
Leggero: quite an apt description for this subtle and sophisticated wine.
