Comments on: Is Financial Security a Myth? http://www.jonathanfields.com/blog/is-financial-security-a-myth/ Innovation, Creativity, Entrepreneurship, Personal Development Fri, 10 Feb 2012 14:21:51 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Karen Putz http://www.jonathanfields.com/blog/is-financial-security-a-myth/#comment-4872 Karen Putz Tue, 19 Aug 2008 12:08:21 +0000 http://jonathanfields.com/blog/?p=461#comment-4872 I have an aunt who has millions in the bank and cannot enjoy life. She lives without air conditioning because "it makes her electric bill go too high." My father, on the other hand, always makes sure he has enough in savings, enough to cover the bills and enough to spend when he wants to. To me, he seems much more financially secure than my aunt, even though the amount of money between the two of them is vastly different. I guess it all comes down to attitude and the confidence to enjoy life realistically with the money you have coming in. I have an aunt who has millions in the bank and cannot enjoy life. She lives without air conditioning because “it makes her electric bill go too high.” My father, on the other hand, always makes sure he has enough in savings, enough to cover the bills and enough to spend when he wants to. To me, he seems much more financially secure than my aunt, even though the amount of money between the two of them is vastly different.
I guess it all comes down to attitude and the confidence to enjoy life realistically with the money you have coming in.

]]> By: Olivier @ mindfulness exercises http://www.jonathanfields.com/blog/is-financial-security-a-myth/#comment-4826 Olivier @ mindfulness exercises Sun, 17 Aug 2008 19:38:36 +0000 http://jonathanfields.com/blog/?p=461#comment-4826 I think financial security is certainly possible - especially if you are able to adapt your wants and needs to whatever you earn or have in the bank. So I agree with those that say it is all in the mind. But many minds will disagree :-) Olivier. I think financial security is certainly possible – especially if you are able to adapt your wants and needs to whatever you earn or have in the bank.
So I agree with those that say it is all in the mind. But many minds will disagree :-)

Olivier.

]]> By: Bryan Eye http://www.jonathanfields.com/blog/is-financial-security-a-myth/#comment-4749 Bryan Eye Mon, 11 Aug 2008 17:22:03 +0000 http://jonathanfields.com/blog/?p=461#comment-4749 @Edwin - Hear, hear... @Edwin – Hear, hear…

]]> By: Edwin Crozier http://www.jonathanfields.com/blog/is-financial-security-a-myth/#comment-4743 Edwin Crozier Mon, 11 Aug 2008 16:04:15 +0000 http://jonathanfields.com/blog/?p=461#comment-4743 "Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal." --Jesus, Sermon on the Mount (Matthew 6:19-20, ESV) The point is not that it is wrong to have a savings or a retirement. However, security, as an offshoot of peace and contentment, will not come merely by a financial place. It will come as a state of mind when we begin to rely on a power greater than ourselves to take care of us. We are weak. The world is fickle. Money is transient. Security can't come from there. In that state of mind, whether we have much or little we can have peace, contentment and security. “Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal.” –Jesus, Sermon on the Mount (Matthew 6:19-20, ESV)

The point is not that it is wrong to have a savings or a retirement. However, security, as an offshoot of peace and contentment, will not come merely by a financial place. It will come as a state of mind when we begin to rely on a power greater than ourselves to take care of us. We are weak. The world is fickle. Money is transient. Security can’t come from there. In that state of mind, whether we have much or little we can have peace, contentment and security.

]]> By: Jonathan Fields http://www.jonathanfields.com/blog/is-financial-security-a-myth/#comment-4732 Jonathan Fields Mon, 11 Aug 2008 11:49:53 +0000 http://jonathanfields.com/blog/?p=461#comment-4732 If you'd have asked me 10 years ago, I would have said security is not only possible, but it's my main goal. Now, not so much. Partly based on my study of Eastern philosophy, partly because of my own experience with as what Michael so aply termed the "illusion" of security. And, partly because I've now had a chance to know many of the people I'd considered to be "secure," people with anywhere from $5 million to $100 million in the bank and the funny thing is, many actually don't feel a whole lot more secure than when they were just starting out. The reasons varied. Some felt they had so much less time now to recover from a major financial debacle than they did when they were younger. Others felt they'd now become much bigger targets for lawsuits and others trying to take what they had. Others were simply more freaked about losing what they had now, compared to what they had when they were younger, because the fall would be so much bigger and the landing so much harder. It's definitely a question I grapples with on a regular basis. Love all the great insights in the comments, gang! Thanks! If you’d have asked me 10 years ago, I would have said security is not only possible, but it’s my main goal.

Now, not so much.

Partly based on my study of Eastern philosophy, partly because of my own experience with as what Michael so aply termed the “illusion” of security.

And, partly because I’ve now had a chance to know many of the people I’d considered to be “secure,” people with anywhere from $5 million to $100 million in the bank and the funny thing is, many actually don’t feel a whole lot more secure than when they were just starting out.

The reasons varied. Some felt they had so much less time now to recover from a major financial debacle than they did when they were younger. Others felt they’d now become much bigger targets for lawsuits and others trying to take what they had. Others were simply more freaked about losing what they had now, compared to what they had when they were younger, because the fall would be so much bigger and the landing so much harder.

It’s definitely a question I grapples with on a regular basis. Love all the great insights in the comments, gang!

Thanks!

]]> By: Winnie Lim http://www.jonathanfields.com/blog/is-financial-security-a-myth/#comment-4731 Winnie Lim Mon, 11 Aug 2008 06:34:35 +0000 http://jonathanfields.com/blog/?p=461#comment-4731 Agree totally with Michael Martine above. Security is an illusion. No matter what you have, money or health, can be taken away in an instant. It is a good reminder to live life in the present. Agree totally with Michael Martine above. Security is an illusion. No matter what you have, money or health, can be taken away in an instant. It is a good reminder to live life in the present.

]]> By: Kelly@SHE-POWER http://www.jonathanfields.com/blog/is-financial-security-a-myth/#comment-4730 Kelly@SHE-POWER Mon, 11 Aug 2008 01:20:21 +0000 http://jonathanfields.com/blog/?p=461#comment-4730 Financial security I think comes with having skills that are well paid in the marketplace and more assets than liabilities. Financial freedom is more what I'm interested in and that would involve owning a comfortable home by the sea (almost there now), being able to write novels and be well paid for it, and travel the world whenever I like. I'd like to be able to do the volunteer projects I like without having to be concerned about a job or the cost of hanging out in South America for 6 months, for example. I don't care about flash toys, all I care about is the freedom to create, volunteer on projects I care about and be nomadic. Being worth about $3 mil would easily do the job for my family. Kelly Financial security I think comes with having skills that are well paid in the marketplace and more assets than liabilities. Financial freedom is more what I’m interested in and that would involve owning a comfortable home by the sea (almost there now), being able to write novels and be well paid for it, and travel the world whenever I like. I’d like to be able to do the volunteer projects I like without having to be concerned about a job or the cost of hanging out in South America for 6 months, for example.

I don’t care about flash toys, all I care about is the freedom to create, volunteer on projects I care about and be nomadic.

Being worth about $3 mil would easily do the job for my family.

Kelly

]]> By: Bryan Eye http://www.jonathanfields.com/blog/is-financial-security-a-myth/#comment-4729 Bryan Eye Sun, 10 Aug 2008 20:35:57 +0000 http://jonathanfields.com/blog/?p=461#comment-4729 There are no guarantees, just risk management. There are no guarantees, just risk management.

]]> By: Susan Murphy http://www.jonathanfields.com/blog/is-financial-security-a-myth/#comment-4724 Susan Murphy Sat, 09 Aug 2008 22:07:34 +0000 http://jonathanfields.com/blog/?p=461#comment-4724 Financial security is a myth, only because no matter how secure you are there's always the risk of losing everything. We all know the stories of people who win $10 million in the lottery only to squander it away in less than a year or two. Financial wisdom is the key. Learning how to be smart about money, no matter how much or how little you have, is the secret to success financially. Financial security is a myth, only because no matter how secure you are there’s always the risk of losing everything. We all know the stories of people who win $10 million in the lottery only to squander it away in less than a year or two.

Financial wisdom is the key. Learning how to be smart about money, no matter how much or how little you have, is the secret to success financially.

]]> By: Flora Morris Brown, Ph.D. http://www.jonathanfields.com/blog/is-financial-security-a-myth/#comment-4722 Flora Morris Brown, Ph.D. Sat, 09 Aug 2008 19:42:46 +0000 http://jonathanfields.com/blog/?p=461#comment-4722 Financial security has very little to do with money. It is definitely in our minds. If we believe we deserve abundance and have faith that we will always have more than enough to take care of our every need, we will. Even if a strong believer loses everything, she will bounce back. If we fear that we will never have enough and nurse a poverty mentality, no amount of hard-earned money will ease that insecurity. A case in point is the occasional news story of a dead body being found among squalor only to learn that the deceased slept every night on a mattress stuffed with $millions. Financial security has very little to do with money. It is definitely in our minds. If we believe we deserve abundance and have faith that we will always have more than enough to take care of our every need, we will. Even if a strong believer loses everything, she will bounce back.

If we fear that we will never have enough and nurse a poverty mentality, no amount of hard-earned money will ease that insecurity.

A case in point is the occasional news story of a dead body being found among squalor only to learn that the deceased slept every night on a mattress stuffed with $millions.

]]>