Are you living Day to Day?

Words of wisdom from a multi-millionaire...

"The very poor live day-to-day, the poor live week-to-week, the middle class live month-to-month, the wealthy live year-to-year and the very wealthy live decade-to-decade" - Kyle Pacetti

Wow. I can’t stop thinking about how true this is. Imagine how this can affect the decisions we make. I've been everywhere from poor to very ‘comfortable’… I can attest to this. When money is tight you can’t even see beyond the week or the month and you make decisions accordingly. When things are going very well then you can plan out a year in advance. I would love to get to the point where I can plan out decades in advance.

I started to really think about this in terms of mindset and ethics. Think of someone who is very poor and living day-to-day. If someone struggles to get through the day and someone leaves a $20 bill unattended on the table do they take it? I’m sure we all know someone who would. I suspect they would have a way to justify to themselves as well… Perhaps saying that if the roles were reversed, the other person would do the same. Maybe they would justify by saying they need it more. On the other hand, what if this person were wealthy? Would they take it? I highly doubt it…

There was another successful speaker that spoke of the fact that she gets to change lives for a living. The money is really just a bonus. I totally understand. I believe that we all need to make a living and so why not earn your living by doing something with the purpose and intention of helping others. However, at the same time I looked around the room and saw that some people were rolling their eyes.

Why is it that some people think that it’s all about the money?

I believe that our current circumstances shape how we perceive the intent of other people. If things are rough in your life and someone approaches you with a way to help you that has a dollar figure attached to it, you might immediately become skeptical and defensive. What’s more is that you don’t have to be homeless to be in a bad situation. Maybe there is some uncertainty in your job… any time fear creeps in you will potentially react in a negative way to people who are trying to help.

Bottom line is that, it is okay to be skeptical. There are certainly people out there trying to scam you.  However, there are also so many people out there who want to help you. Just learn to ask the right questions. It is important to find out what the "win-win" situation is. If you can be clear on what each of you gain from the deal then you can make a better decision on whether you should move forward.

Define "Greedy" : Is it true that the rich take from the poor?

I was talking to a good friend of mine and the conversation went to money and wealth.  His father happens to be wealthy and he used the word “greedy” to describe rich people.

I stopped him right there since I wanted to understand more about how he was thinking.  I asked him to define greedy…  Interestingly enough, he couldn't give me an answer other than “a person who has a lot of money”.  Clearly that is not the definition.

I looked it up.  Here is the “full definition” according to Websters.

 a selfish and excessive desire for more of something (as money) than is needed

This brought up so many questions.

 How much money does one need?  I suppose it would depend on their lifestyle.  What does a person have to do in order to get this money?  Do they need to do something they don’t like and get paid just enough to cover their basic expenses?  Does this mean that a person can earn a passive income that covers basic expenses but no more?

 I think, when it comes to money, the word “need” is extremely subjective.  The word "selfish" and the word "excessive" are just as subjective.

 Here’s how I see it…  If there are 2 people and 4 pieces of pie.  If one were to grab 3 before the other person gets a chance, then I think we can all say that this is greedy.  However, what if there were 10 pieces of pie and I grabbed 3.  Would I still be greedy?  Same number… but what has changed is the number of pieces to start with.  I think someone is “greedy” if they take more than their share.

 Here’s the thing about money.  There is no limit.  They keep printing more.  A lot of people look at the gap between the rich and the poor and think that rich people take money from poor people and therefore they have “more than their share”.  However, it doesn't work that way.  Rich people do different things to attract the money they have.  Anyone (especially in north america) has the same opportunity.  Many of us simply leave the money on the table since we are scared to take a risk and someone else comes and picks it up.

 Opportunity is all around us, but for whatever reason most people don’t seize it.  It is usually those same people that end up complaining about the gap between the rich and the poor.

 Money is a powerful tool and if you can attract enough to pay your bills and enjoy life experiences, then you can use the surplus to start changing the world.  Set up charities… Donate time and money to a cause.  If you give more than you use for yourself you are definitely not greedy.