Financial planning is a phenomenal tool, depending on what you aim it toward. That said, if you aim it primarily at “more money” for its own sake, it’s a terrible discipline.
I’m not just describing a greedy person. While that shoe definitely fits, this also applies to every other bracket of wealth. There are certain problems that we think “more” will fix when “enough” is a much better conversation.
“More” is a constantly moving target. “Enough” ties you to a non-financial purpose. Today, I wanted to share with you a brief soundbite that deeply impacted me from Arthur Brooks, a Harvard economist who studies the intersection of money and happiness.
Arthur Brooks defines happiness with a formula:
- Enjoyment – doing something pleasurable with people you care about.
- Satisfaction – the result of accomplishment after hard work.
- Meaning – something that keeps your focus forward without creating discontentment.
It’s a simple list, but my goodness, it’s needed. We talk a lot about financial independence, but even financial independence isn’t worth much if you don’t have these three things. Where they intersect is different for everyone, but all three need to be present.
For Mae and I, that comes home to roost in the area of philanthropy. In philanthropy:
- We get the enjoyment of participating in the work with friends and family.
- We get the satisfaction of the impact–which also comes from generating profits to share.
- We get the meaning of the Infinite Game (as Simon Sinek calls it) because the work is never done but always rewarding.
What about you? Where are you focusing that checks all three of these boxes? I think philanthropy may be the best universal example, but for some of you, it’s time to revisit this reflection.
When is the last time reflected on your sense of contentment and purpose? Do you have a compelling “why”? Do you know how much is “enough” for you?
Better yet–when was the last time you asked your spouse? Or your kids?
Don’t play the money game without a compelling definition of success. Accumulation doesn’t provide the ROI on life that we want to challenge you to pursue.
It’s all part of Envizioning More. Are you ready?