How Much is Enough?

“Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.”

We can all agree each person’s perspective is unique, but do we ever take the time to contemplate how skewed our financial perspectives may be? Do you compare yourself to fellow neighbors, a person one community over, or someone in a bordering state? Keep in mind, within the U.S., DuPage County is one of the wealthiest densely populated counties. On a larger scale, the U.S. is the richest nation on earth. I think that is often overlooked and we don’t realize how blessed we really are. With that being said, it is often difficult to “stay grounded” when there is so much money floating around.

I struggle with keeping my own children “grounded,” especially when it comes to money and “things”. They have been spoiled to so much already (as have most kids today in well-off suburbs) they don’t know any other way of living. Reality will set in for them down the road and I am not very confident about my kids financial future.

In comparison to our parents, adults today have WAY more money and material possessions than their parents did growing up. They have larger homes, go on more vacations and spend more money on their kids’ clothes, technology, travel sports, and college than their parents could have ever imagined. It is never enough! While money has exploded in this area, the same is not true when we look at the rest of the world and put money in perspective.

When we wonder how people could think so differently about issues than we do, it’s partly because we don’t take the time to try to see the world through their eyes. There are significant differences in education level, societal values (capitalism), access to opportunities and other factors.

Financially, you are “loaded” and may not have fully appreciated just how well off you are on a global basis.

Did you know??

If you have $3,650, including the value of your home, you’re among the wealthiest half of people in the world. (This is net wealth – so, once debts have been subtracted.) Many of my clients make that much in investment gains on a good day in the stock market.
To be in the top 10% – membership requirement is $77,000 – they hold 87% of the world’s wealth.
You need $798,000 to make it into the top percentile of the world’s wealthiest. This select group accounts for almost half – 48% – of global assets.
3.3 billion adults have less than $10,000 in assets

Does knowing this make you feel any better about your finances?

How does your current income and wealth position make you feel? If you are like most people, despite making more money than you may have ever imagined, life would seemingly be better if you made even more.

I know that when I take the time to think about where I stand financially, I am grateful and a little ashamed that I take so much for granted.