15 April 2008 159 views One Comment Print This Post  Email This Post

In the movie Citizen Kane, the business manager of the wealthy Charles Foster Kane makes the clearest statement regarding the accumulation of money I’ve ever heard:

It’s no trick to make a lot of money, if all you want to do is make a lot of money.

It’s true: if I were willing to focus all of my attention on making money — ignoring family, friends, hobbies, etc. — I have no doubts that I already would have my first million. I’m also certain that I’d be beyond miserable. While some people seem to enjoy that sort of lifestyle, I enjoy spending time with people and relaxing.

I won’t discount the ability to buy happiness — not needing to worry about money is one of the fastest ways to happiness I can think of, but I don’t feel the need to accumulate great piles of it. If I can meet my financial goals and live comfortably, why should I devote my life to earning more than that?

I want a nice home, a comfortable lifestyle and the ability to pay for the things that make life enjoyable, like travel. My goals are very clear, and I know the sort of income I need to reach to make sure I can afford them. Beyond my goals, though, I’m not very ambitious.

The secret to building a fortune is to spend all your time at it. You won’t have a balanced life — but some people don’t really seem to care about that sort of thing.

The secret to building a comfortable lifestyle is similar: work at it, but you can afford to relax far more often. It’s truly a matter of how much time you want to devote to the accumulation of wealth. Some people manage to devote only a few hours a week, some need a full 40 hours at the office. To determine where on the spectrum you want to be, decide how much money you need to meet your goals and break it down to the weekly income you need. Want to spend less time on generating an income, but still get the same return? Up the amount you can make in an hour. Become more efficient or get a raise.

What are your goals, and how far will you go to meet them? Do you only want to make money? Or do you want time to spend on the other things you consider important?