More than Enough?
Where the Red Fern Grows by Wilson Rawls is a fabulous book. Its pages tell the tale of the life of a little boy named Billy and his coon dogs, Ann and Dan, as they trap and search for raccoons in a poor segment of the rural Ozark Mountains. It’s a genuinely remarkable story.
In one part of the story, Billy builds a raccoon trap. He makes a little hole in the wood and inserts angled nails and a piece of something shiny in the bottom. The idea of the trap is that raccoons like shiny objects. When they put their little paw in and grab onto the little shiny something, their balled-up little fist gets stuck. As long as they hold on to the shiny object, they remain trapped. But since raccoons love shiny things so much, they hold tightly until the hunter comes back.
For many of us, money and the trappings of wealth are the shiny object. The accumulation and preservation of wealth becomes our goal, our pursuit, and even our drive. We think that money will help us address our problems. If only we could afford a better car, a bigger house, or a nicer vacation, our quality of life is bound to improve. Yet after a while, you may start to notice that success and wealth feel more like a trap.
Our walls of asset protection and strategies to protect ourselves from getting hoodwinked again were meant to form a castle of protection, but they’ve turned into a gilded cage. Our unchecked desire and often selfish ambition have led us into a trap.
But like the raccoon who needs to let go of the shiny object; our hearts need to be dragged back from the allure of money. Our tendency is to drive and build, which can be good. Yet how often do we ask tough questions, consider the impact of our choices on our kids, or examine how we are really doing with what we’ve been entrusted? This blog is written to help us see, examine, and potentially change how we look at our stuff and our legacy.
Affluence doesn’t mean the same thing to everyone. It’s funny—few of us think of ourselves as affluent or rich, because each of us knows someone else who has more money, more assets, or more connections than we do.
Because of this, I’m not going to offer a specific income level or net worth that categorizes a person as “affluent.” Simply put, my definition of affluence is having more than enough.
And money and more than enough can be tricky manage. I don’t want money to have a hold on your heart. Money can be a good tool or a good servant. But it can so quickly switch into the master role before we are even aware of it. A dairy farmer says, “You don’t own a dairy farm; it owns you.”
I want money to be a help, not a hindrance, in your life. I want you to be free from the love of money and its snares. I hope this blog will help you have more meaningful and honest relationships at work, at home, and among friends. I truly believe that by living life and making decisions focused on the long view, each of us can make a better story, a better family, and “take hold of that which is truly life.”
This doesn’t mean that we are prepared for all the changes that having money can bring. Most of us are so busy earning money that we rarely have time to think about what it is like to be among the “wealthy.” Others of us were wealthy even before we were born, but that doesn’t mean our parents taught us what to do with wealth.
In either case, no matter how or why you are moving toward affluence, I believe you will make better choices and navigate wealth more effectively when you live life in light of your legacy and not just today’s cares. What if we could live today in light of how our legacy will be viewed in eternity?
Living life in light of your legacy means taking the big picture into account. It means living a more fulfilling life, not being simply focused on the tyranny of the urgent. It also means taking responsibility for how you navigate (manage, steward, maximize the value of) the blessings you’ve been given. It’s not enough just to take things as they come. This blog is designed to help you navigate the murky waters of affluence and to enjoy the journey for all it’s worth.
Action Steps:
1) Dwell for 10 minutes over your blessings, and be thankful. Enjoy the good so far. It helps to make a list.
Make a habit of regularly digesting content that inspires and challenges your perspective on wealth, stewardship, and legacy. This can include books, articles, podcasts, or even engaging in meaningful conversations with others who have a healthy approach to affluence.
2) Reflect on your priorities and values. Take time to consider what truly matters to you beyond material possessions. Identify the things that bring you joy, fulfillment, and purpose, and strive to align your financial decisions with those priorities.
3) Seek professional guidance. Engage with trusted financial advisors who can help you create a comprehensive and holistic financial plan. This includes not only wealth accumulation but also strategies for giving, estate planning, and ensuring a smooth transfer of assets to future generations.
4) Practice generosity. Cultivate a mindset of giving and find opportunities to make a positive impact in the lives of others. Whether through charitable donations, volunteering, or supporting causes you believe in, generosity can help shift your focus from accumulation to making a difference in the world.
5) Regularly assess and update your estate plan. Recognize that estate planning is an ongoing process, and as your circumstances change, it is essential to review and update your plan accordingly. Ensure that your wishes are clearly communicated, and your assets are protected and distributed in alignment with your values and intentions.
6) Embrace open and honest communication with your loved ones. Engage in conversations about wealth, inheritance, and the responsibilities that come with it. By fostering transparency and understanding among family members, you can help mitigate potential conflicts and ensure a smooth transition of wealth.
Remember, the journey toward affluence is not just about the accumulation of wealth but also about how you navigate it and the legacy you leave behind. By cultivating a healthy perspective, aligning your financial decisions with your values, and prioritizing relationships and impact, you can break free from the trap of materialism and build a more meaningful and fulfilling life.