If we agree with the definition that Money is a means to an end, then why do most of us spend our entire lifetimes running behind it?
One needs to have a clear understanding of what is enough. The idea of having enough looks like an opportunity to earn more is being left on the table. It might not be the right way to think about it. Enough is realizing that the cost of pushing yourself further is much higher than the reward you will receive for it. The only way to find out how much one can drink is to drink until they vomit. But, very few would do that since the displeasure of vomit is much higher than the pleasure of drinking.
It is important to find out what amount of money is enough for you. You will be lost in the ocean if you keep comparing yourself to your neighbors, friends, and other millionaires/billionaire. It will never be enough. There will always be someone ahead of you. If Bill Gates thinks what he has is not enough, he will compare himself to Jeff Bezos. If Jeff Bezos feels the same about his wealth he will start comparing himself to Elon Musk! You need to set a goal and get satisfied. If your goalposts keep moving ahead it will always stay two steps ahead of you. Consider the example of Rajat Gupta, who was born in Kolkata and was orphaned in his teenage years. He belonged to a middle-income group and did not have any special privileges. Although what he went onto achieve is remarkable and worth knowing. In his 40's Mr. Gupta was the CEO of Mckinsey Group and sat on other director seats of other multinational companies. By 2008, Mr. Gupta had a net worth of $100 Million. It is an enormous amount of money for generations to survive, yet Mr. Gupta seemed to think he did not have enough. During the financial crash of 2008, Gupta through his friend Raj Rajaratnam participated in a transaction with inside information on Goldman Sachs. He made a profit of over $17 Million but, was eventually caught by the SEC and imprisoned for insider trading. The transaction ruined both his and his partner’s career. This incident will make you wonder why someone with such net worth and success would make such a silly choice of acting on private information. The answer is not having a goalpost and knowing what is enough!
It is important to know what enough to you or you run the risk of working for money for your entire life. Remember the few points below and figure out what is enough for you.
1- Get your goal post to stop moving
2- Social Comparison is the problem
3- Enough is not too little
4- There are many things worth never risking Your Reputation, your family and friends, your freedom and independence, and your happiness.