12 September 2007 4 Comments Print This Post  Email This Post

Money is dirty paper. Money is a number on our computer screens, bank statements, and checks. Money is a promise from the government that the number you see is worth something. But why is it that we care so much about money? Is it the cool things it can buy? Is it because money impresses other people? As I write this, it is the six year anniversary of September 11th, a dark day in American history where a blatant disregard for human life was brutally displayed. After that tragic day, somehow I’ve been thinking about things on a bigger scale, on a human level. I start to wonder, why the heck do we care so much about money? Life is much more than money.

Money doesn’t bring happiness

Money, in itself does not and will never bring you true happiness. Like Aristotle said, money is simply a tool that you use to achieve true happiness. It is a stepping stone, or a means to an end. It is not true happiness, or an end in itself.

The Ultimate Goal

We always talk about the importance of setting goals, and I for one am a big proponent of goal setting. You need goals to monitor your progress in life. The typical goals you likely think about has to do with numbers. For instance, you may say that your goal is to make $1000 a month in passive income by a year’s time. Another goal may be to cut down your monthly expenses by $200. Those are good short term and intermediate goals, but what is the ultimate goal? Is it to become a millionaire? Is it to become financially free? Those are good long term goals as well, but they are not ultimate goals. Your ultimate goal should have nothing to do with money. Your ultimate goal is on a human level, something that you’ve always wanted. It has been instilled upon you since the days you didn’t know what a stock market or a capitalization rate was. Your ultimate goal is what will bring you true happiness.

My Ultimate Goal

My ultimate goal was never to become a multi-millionaire and live financially free, although those are two of my long term goals. My ultimate goal was never to live in a big house and drive exotic cars, although that is what I plan to do down the line. My ultimate goal is not even to raise great kids and provide my future wife with a comfortable and enriched life, that is yet another intermediate goal. My ultimate goal is deeper than that. My sincerest passion reflects my ultimate goal. What I eventually want to do, with the aid of my money, is to start a foundation that gives hope to young people who may no longer have any. I would do so by setting up a foundation with at least $5 Million in assets, which is a realistic goal. My plan is to have the money invested in commercial real estate, bonds, and stocks so that year after year, the interest earned goes towards charities, scholarships, and events that cater to under privileged children. At $5 Million and a conservative 8% return a year, that gives the foundation $400,000 a year to work with. I never want the initial $5 Million to be touched, that way the foundation can live on and carry out my goal for generations to come.

This is by far my ultimate goal in life. This is what motivates me to succeed. I want to make an impact on the world. I want my years here, which is a giga-second when looking at the big picture, to count. I want to work with children mostly because they are like blank canvases. If they are born poor, or born with an illness, they are too young to do anything that can improve their situation. This is contrary to, lets say a poor adult who chose not to work hard but drink and party instead. They had a choice. I want to change the lives of these kids long after I’m gone.

Why We Need Ultimate Goals

Ultimate goals are on a human level. Its something you want to eventually do, become or achieve which will bring you true happiness. I think it is necessary because money goals won’t bring you true long term happiness. Look at stars who have money but are, shall we say, crazy. Money is great because it opens up doors for you to reach your ultimate goal. You won’t be happy with just the money. Think about it, if you die with $10 Million, its not like you can have your bank wire that money to the afterlife. Ultimate goals motivate you more than money. So think about it. What is your ultimate goal or ultimate goals in life? Use that as motivation for all your do from here on out. It’s worth more than just money.