How Do You View Money?

This Article on Quartz about doing what makes you money over your passion really made me grateful for my own career goals of working in finance. Luckily for me, it is something I enjoy learning more about, and, I hope, will be something I enjoy working in. It is pretty safe to say that if you work in finance, money is a big motivator for you. At the same time, if you spend your free time on a finance-based website, I assume you also enjoy the field.

Moving on, I'm curious about what the money means to you. That may seem like a silly question, but beyond paying off loans, retiring your parents, financial security, having luxury items etc. it can mean something different to different people. Warren Buffet wants to be known of the greatest allocator of capital of all time. Some people view it as a byproduct of advancing the human race and technology, where I believe Elon Musk types would be placed. Personally, I see it as the best indicator of what you have contributed to society.

So, once you've reached a certain threshold where money provides very little utility, what does money mean to you?

Comments (14)

Jun 18, 2017
Stay.Hungry:

This Article on Quartz about doing what makes you money over your passion really made me grateful for my own career goals of working in finance. Luckily for me, it is something I enjoy learning more about, and, I hope, will be something I enjoy working in. It is pretty safe to say that if you work in finance, money is a big motivator for you. At the same time, if you spend your free time on a finance-based website, I assume you also enjoy the field.

Moving on, I'm curious about what the money means to you. That may seem like a silly question, but beyond paying off loans, retiring your parents, financial security, having luxury items etc. it can mean something different to different people. Warren Buffet wants to be known of the greatest allocator of capital of all time. Some people view it as a byproduct of advancing the human race and technology, where I believe Elon Musk types would be placed. Personally, I see it as the best indicator of what you have contributed to society.

So, once you've reached a certain threshold where money provides very little utility, what does money mean to you?

$$$ pov is meant to be spent.

Jun 18, 2017
Stay.Hungry:

but beyond paying off loans, retiring your parents, financial security, having luxury items etc. it can mean something different to different people.

So besides the important stuff, what does money mean to me?

Money IS the fractionalization of goods and services. In and of itself is liquidity, the enabler of trade, and without it we wouldn't have civilization.

Have you ever heard the phrase...it's only money? That is complete and utter monkey shit. In a time where we can't hunt for our own food or build our own shelter, money is a modern day means to that end. Money is food, a roof over your head, medicine, taking care of your family, and doing so for the next 40+ years. Everything you do should be to secure food,medicine,health etc for the rest of your life. Every dollar you give away takes away from that. I think you are wrong in regards to money being what you contribute to society. I know people who donate their time at soup kitchen, go on missions to africa, work with Oceana, et.al. and they don't make a dime but I would strongly argue that they contribute more to society than say someone working for an accounting firm.

Jun 20, 2017

To better rephrase my original posed question: What does money with very little marginal utility mean to you?

That is all valid, and I agree that someone who spends much of their time volunteering contributes more to society than someone doing busy work for an accounting firm. But I absolutely disagree that they contribute more to society than a business owner, no matter how big the business is. They not only supply goods and/or services to their customers, but create livelihoods for their employees. My view is: the bigger the business (more money they make), then the more people they have as customers and employees, thus the more they are contributing to society. The higher up in a business you are, the more important you are to that business succeeding, thus the more you contribute and the more money you make. In no way is money a perfect measure of how much you contribute to society, but is the best indicator as it puts (most) everyone's work on a equal playing field(not including both ends of the spectrum i.e. criminals and those that volunteer). To better sum up: the money one makes and what they contribute to society are far from perfectly correlated, but absolutely positively correlated.

Jun 20, 2017

With my eyes

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Jun 21, 2017

Found the dad

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Jun 20, 2017

Commonly employed medium of exchange that resulted organically from commodities as a result of the inefficiencies associated with barter (i.e., the double coincidence of wants).

EDIT: Warren Buffet will go down as the biggest ass kisser of all-time.

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Jun 20, 2017

@Stay.Hungry money to me isn't about buying a mansion, an exotic car, or flying around in my own G6. Money to me is about what it can buy in terms of non-material benefits.

For example, I enjoy power and having the ability to make dramatic change happen with little to no resistance and see changes affect an organization (for the good of the organization). It also means having the power to influence policy and bring about changes beyond Corporate America.

I can use money to support political candidates that share my political philosophy and outlook on the world. A Congressman or woman will take me more seriously when I drop $1M into their campaign rather than write letters expressing my concern.

Money = Ability to Influence = Power = Ability to Bring About Change

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Jun 21, 2017

You got $1M cash you want to dump in my fund...

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Jun 20, 2017

@Marti Kahn I actually have my own side business/fund if you want to call it that so no thanks. Currently tapped out ;)

Jun 21, 2017

Fucking lame, money = hookers and blow.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

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Jun 21, 2017

Money is the sweet nectar that gives me life

Jun 21, 2017

I view money with my eyes. Easy question and I just KILLED it. Boom.

Best Response
Jun 21, 2017

Money to me is freedom.

Freedom to both afford what I need, and have enough to live the life I want.

Like any business, people have unavoidable fixed expenses: Housing, Food, Healthcare, and Transportation... Abraham Maslow's Hierarchy of needs states that shelter, food, water, order and law are the foundation to a happy life. Once upon a time this meant joining the right Hunter & Gather society or finding the right Cave to house you and your family in. In today's fiat driven economy, currency is an unavoidable requirement for rent, grocery shopping, taxes, even a bus pass or car. Regardless of whether you make $100k / year or $50k, these basic "Economic Necessities" must be met in order to live a happy life.

If you're fiscally responsible, $50k a year will meet (even exceed) your basic life necessities. However, you are broadly constrained to a living a certain way of life. This often means forgoing extravagance and experience to save money (passing up on drinks with your friends, getting a meal out with your gf, or traveling to a new part of the world).

Money means freedom to me, because money allows me to live a life that is unabridged by basic "Economic Constraints." Both meeting basic economic requirements and having a little left over to spend on experiences (travel, entertainment, socializing) that allow me to live life on a more intimate level before I expire.

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Jun 21, 2017
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