Financial Anarchy – The Lie

Beginning at a young age and through the course of our lives, we are taught that the key to success is through hard work, a high level of education, or specialized skills.  Those that possess these traits will become successful.  You know these people; the people we are told we need to strive to be. They drive fancy cars, live in large houses in nice neighborhoods, travel the world, and generally spend money without concern about where their next dollar will come from. 

We tell ourselves that these people must have worked hard to achieve these things, had opportunities that only a select few ever have, or were just plain lucky.  Surely, I will be the first to admit that people have been successful through this approach, and many more will. That is not the point.  While this may be true for some, for the average person…. It’s a lie.

Before you start doubting this assertion, let me state this another way.  Ask yourself how many people you think work hard, get up every day working morning until night, work weekends and multiple jobs.  Surely these people are successful, right?  Look at a graduating class of your average university, seen as the future of our next generation, considered highly educated having achieved something that many don’t. 

Surely all, if not the vast majority, of these people wake up every morning 10 years later financially independent using all the free time they have to enjoy life, right?  How many of these people honestly wake up happy, don’t have to worry about money, and can pursue things they want to do?

If you’re still not convinced or perhaps one of these people I am describing, let’s assume for the moment these are the people that are doing it right, that everything we were taught growing up was true.  Let’s even go so far as to say these people were part of the lucky group that had the right talent, the right opportunities, and were able to achieve a substantially high income ($100-$300k). 

They have nice houses and nice cars.  They even have some disposable income to splurge once in a while.  Have they achieved financial independence?  Do they wake up every morning not worried about money, about where their next paycheck is coming from?  I can speak from first-hand experience, they don’t.

But wait, how can this be?  Isn’t the goal of being financially stable about making enough money?  Enough money to buy the things you need and the things you want, to save up for retirement, a house, to be seen as successful.  No. 

For those that have very little I suspect you may be reading this thinking to yourself, “Yes, it is,” and for those that have “enough,” you may read this because you want more.  Having and making money is not the goal here directly.  Everyone has money, a lot of people have what most would consider a lot of money.  But at what cost?

There are clearly people in this world that love to work and will likely work until they die.  I am not one of those people.  For those that share my conviction, money and acquiring money have always been a means to an end.  The act of making money has never been enjoyable or something I seek – I envy those that have been able to find that passion and make money from it.  At a micro level making money was a necessary evil to get to the end of my day, or at a macro level, get to retirement. 

To that end, there are people that struggle to have enough money and those that make a lot of it who fundamentally share issues.  Enormous stress, crazy long hours (One or more jobs) and would still be emotionally, if not financially, ruined if they lost their job or their business went under.  I am not saying the challenges are the same between these two groups of people, but I am saying regardless of how much money you have you are not immune – think the US financial crisis of 2008 when multimillionaires lost their jobs when the banks shut down. 

The majority of people consider two paths in life.  Obtain the needed skills (or lack thereof) to go work for a company and earn a paycheck or those that attempt to start a company.  Those that follow the first path are met with jobs they hate, costly degrees they may never use, long hours, stress, and upward limits on their income. 

Those that take the entrepreneurial route, face the risk of losing everything, health-impacting stress, and long hours with the hopes of “being lucky.”  You are likely on one of these paths and each certainly can lead to a “good enough” life.  But you may be saying to yourself as many do — “There has to be a better way.”

So, what is “The Lie”? 

Regardless of where you stand financially at the moment, you are likely in a state of financial limits and boundaries, either underwater, burnt out or both.  Given the limits of what you have always been told, the way to be successful in life has reinforced a transactional state of mind where you are trading your life (time) for financial gain.  

The Lie you ask?

For most people, financial freedom can’t be achieved through your own hard work and contributions alone.  I hate to tell you, but you do not have enough of your life to sell.

To read more, check back soon to purchase the e-book Financial Anarchy.