Winning The Game
Let’s face it, this thing called life is one big game, that we have a finite amount of time to play. No do overs. No second chances.
Eventually the game ends.
Knowing that, we have to figure out how we win the game?
For some, winning the game is just survival. For others, winning the game is enormous wealth.
No matter how you defining winning the game, your goal should be to win. Because no one wants to admit they are playing a game to lose. (Although, my Raiders could say they come close to that scenario every season, nevertheless I digress.)
Defining your “win” is synonymous with defining your WHY. Largely they are the same thing for most people.
Whether you’re born with means or without means, your life is going to be defined by your WHY.
WHY DO YOU EXIST? Another way of saying this is what is your purpose?
You may be wondering, what does any of this have to do with personal finance and the answer is your WHY is intimately related to why need to have great personal finance habits.
Money is the rate limiting step for achieving your WHY.
Whether you believe money will be bring you happiness and happiness is your WHY or money does not equal happiness however you need it to achieve your WHY.
Having money is key to playing the game and being knowledgable about personal finance is how you increase your ability to have money around.
But how do we win the game?
The answer is difficult and will vary person to person. For me, I will have won the game if I can create a legacy that lasts for generations. The crazy thing about that is I will have left this Earth, not knowing if I achieved my goal.
To create my legacy, personal finance is utterly important to me and I realized when I heard someone say, “in order to give more I have to make more.” It’s a very simple phrase that could be applied to a lot of situations. For me, it was a light bulb moment.
Personal finance can be a lot of things. It can be confusing, intimidating, stressful, or fun. Our personal finance journeys can take many routes however we will all end up at the same place at the end of this game.
It sounds morbid, however the route you take can make this game more enjoyable.
So how do we take the correct route?
First, define your WHY?
Playing a game without knowing WHY you are playing makes no sense. What’s your goal? What is your purpose? What do you want to get out of this?
These questions are all important, so take some time to figure it out.
Secondly, what do you need to achieve your WHY?
If money brings you happiness, then go and figure out how to keep more of it or you need to figure out how to make more of it.
Personal finance places a role in this.
WEALTH = ASSETS - LIABILITIES + HAPPINESS
If wealth makes you happy, then you need to figure out how to make that equation be positive.
If wealth is needed to achieve your WHY, then you need to figure out how to make that equation be positive.
No matter what, figure out how to make that equation be positive.
Third, and not the least important, enjoy your life and protect those around you.
None of us know how much time we are given in this game. Maximizing that time is of the utmost importance. The sooner you know your WHY, the quicker you can get on to the route that provides that most enjoyment in this game.
Along the way you’re going to find and discover people who you want to protect and help after you’re done playing this game. Don’t forget about them.
Make sure you make a plan to continue your legacy after your turn is complete. Having an estate plan is vital to playing this game.
Its a way of ensuring you still get to participate even if you’re not around.