Your attitude towards money!
Have you wondered what is money?
It is the power to do something. It may be cash, credit card, E-card, ….basically it is the power to meet a variety of needs, wants, luxuries…..and of course cause good. Remember it also is the power to create terror and evil….like terrorism.
Money by itself is nothing – unless everybody believes that money has respect. This is called FIAT money…..
Ayn Rand says “money is the root cause of all good”.
Indian philosophy says ‘money increases desire – and like ghee and wood to a fire – increases desire and misery’. Immaterial of whether you take the western view or the eastern view, all of us have at some point chased money, have we not?
Some of us realised that after all money is a commodity and you should have as much as you can use. Beyond a particular level it does not add to your happiness! It is like health- those who have it, take it for granted. But if you ask those who do not have it know its value.
This post is about a person whose daughter is a good friend. She was cribbing about her father (let us say net worth of Rs. 10 crores, so it actually does not matter whether it is Rs. 22 crores by the time he passes away or at Rs. 220 crores. However at age 70 years he goes to the office every day, and slogs. Of course like every body else he says he is ‘busy’ earning money – to buy things he does not have time to enjoy, give it to his children who do not want it, and for that he is willing to give his time (which is in short supply!!). This to me is not surprising! I see many people like this!
These are victims of ‘boredom’ of knowing what to do with their time!! They need to get out of the house, travel to the office – make a couple of calls, have meeting, forget to eat medicines, run up sugar and BP – and pretend that they are earning money for their grand children.
My question to them is simple. Let us take this man’s example. If he leaves Rs. 21 crores to 7 grand children each one will get Rs. 3 crores each. On the other hand if he decides to spendRs. 21 laksh in taking all his grandchildren on a world tour – will they remember the good time they had with the family for a week/ forthnight or will they be happy that they got Rs. 3 crores (instead of Rs. 2.97 crores!)? I do not claim to provide answers on my blog, only questions for you to ponder.
Sambaran
If the person is working at an age of 70 and getting paid for the work, he is contributing to the good of this world. Additionally, it is keeping him happy.
May be getting back in the evening train/bus/auto with a heavy but satisfying day of work behind oneself is more enjoyable than watching sunset across atlantic. Who knows?
May be grandchildren feel proud of the fact that grandpa still works and is busy. Who knows?
Ratan Tata
It is up to the individual to decide what he would like to do. Who are you think what people should do/ should not do? If you like, you stop working for money at 50 and go on a world tour. Your life, your choice!
Sushila
I have one such in my family at 84 he thinks he is superman, feeds his children their spouses and grandchildren and takes pride in it.
His way is the only way; toe the line or else the money supply will be chocked.
A few who chose freedom, walked out on him and became financially independent and successful.
Arun
If I were one of the grandchildren, I would take the 3 Cr and make my _own_ world tour, whenever I want and with whoever I want. Or better yet, I would invest every penny in mutual funds + fixed-income instruments, to make it grow even more!