Updated: Aug 16
Our culture idolizes success.
And many times, the easiest measure of success is money.
But, while good money management and building wealth are important, these should never be confused for defining someone's personal worth or value.
Here are three thoughts worth considering to make sure you live this out:
Many times the building of financial net worth conflicts with building personal value.
In my life, I see tension appear between growing my business (financial net worth) while also being a present parent (personal value) to my 3 kids. If I spent 90-hour work weeks building Straight Path Wealth Management, I'm sure my financial net worth would be higher. But at what cost? How do I manage both well?
Building balance can allow fulfillment in both
So much of life is about balance. And balancing financial net worth with the rest of your life is the same. Occasionally working long hours is ok, as long as it doesn't take over your life. Saving money for your future instead of always spending to "live in the moment" is also ok. Just make sure you appreciate and experience the present as well.
Money is a tool, not the end goal
Money should be viewed as a tool, not the ultimate goal of your life. If you feel like money is the driving force behind everything you do, you need to reevaluate. Make sure you don't define success solely as a net worth goal.
Matthew B. Boersen, CFA, CFP®
Aug 21, 2022