Last week, I asked the question: “does more money give you more security or more confidence?”
The results, from a reasonably representative sample of readers, was overwhemingly in favor of the statement: “more money gives me more security”.
Interestingly, this apparently says something about you …
… you see, most entrepreneurs would say that more money gives them more confidence!
But, why?!
I’m not a psychologist, so I can’t tell you, but I do think it helps to explain why entrepreneurs tend to become ‘serial entrepreneurs’ …. one success emboldens them to go for another.
We all know (by now) that once you reach your Number, you should STOP. Yet, we don’t always do that, do we?
[AJC: if you’ve been reading my recent articles on property development, you’ll know exactly what I mean 😉 ]
More money = more confidence must also be why so many actors and actresses try to launch music careers. 😉
AJC,
Very insightful. I guess from the way I answered I really don’t care so much about being rich! A couple of million is enough, more would be nice but I’d rather collect life experiences than dollars! Sometimes that means being poor because that is another life experience!
-Mike
Nice point, Mike. I seem to remember a couple of rogue traders who did what they did because they saw it as a life experience then ‘happily’ went to jail, as that was yet another life experience. Optimism at its best! 🙂
True enough! Jail time is one experience I don’t need, given the amount of reality TV on jails (locked up abroad, et al)
Happy to watch this on the flat screen instead.
Back to being super rich…Let’s face it though, if you weren’t earning 30k a year at some point in your life then would you still appreciate the $7m the way you do today?
I’d wager that if you had several million to your name you would not have the same feeling you do towards wealth and what you achieved. Or maybe I’m wrong- you still would have pushed and then would be worth a few billion today?
-Mike
I could see how money would give you both confidence and security!