Friday, February 05, 2021

Wealth And Wants


 

One of the items I find myself working through this years is wants and desires.

This has been a rather slow process.  Originally I tracked nothing that I wanted, merely got it when I "had the money".  This went on for a very, very long time - really until a few years ago.

Then, I began the practice of tracking what I bought personally, the same as if I would track things on a household budget.  First it was books, then it was other things.  Before long, I was putting everything that I wanted on to a list prior to purchase.

That helped, of course.  Now when the question came up "What was I going buy?", I could go look at my list and see what was on there.  If it was not on the list, it either got added to the list or fell off it.

But I am undergoing a sort of transition at this point.

Maybe it happens to all of us when we hit a certain age.  Maybe it happens at different ages.  I am not sure.  But at some point, one begins dialing back on what one wants.

Perhaps it is the approaching on-rush of mortality, and the realization that one can only read so many books or have so many clothes.  Perhaps it is the realization that no matter how many weapons one has, one can only train with them one at a time.  Or perhaps it is the realization and attempted application of the idea that wealth is something else entirely.

I am not against the concept of money or wealth - indeed, the phrase "I have been rich and I have been poor.  Rich is better." resonates with me if for no other reason that not having to worry how basic expenses are going to be paid is a great relief.  And without wealth, in a service economy, very few people actually have the chance to make a living.

At the same time, the focus on and earning of wealth can become an albatross.  One is always concerned about saving, making, conserving one particular item:  money.  And it can all too soon be swept away by accident or bad judgement - or, we reach that point where we can "enjoy" our wealth, only to realize that we have spent most of our useful life and health trying to get to the point of using it, only to find we have little time or energy left to do so.

This has resulted in a twofold consideration in my life:  the first is to go back and re-review everything on my "want" list and re-examine it.  Do I really want it?  Do I really need it?  What will I do when I have it?  Several things have fallen off the list this way, as well as coming to the conclusion that there are fields of study and practice I will never achieve because of the investment to start them (time for these as well of course, but that is another discussion).

One immediate implication of all this?  Suddenly, it seems, I have enough to do all that I wanted to do.  And the things that I get and what they help me to do is truly valued, instead of just being used a few times and put away up on a shelf or in a closet.

It is not that I acquired any more wealth than before.  It is that, by the paring of my wants and needs, it suddenly went much further.

10 comments:

  1. I was there too. Same exact place. When I came out the other side I discovered that I will always have wants and that's okay... but it was no longer the end of the world if I didn't have them. As I've aged, I don't want things with the same intensity that I used to as a kid. What's that old Cheryl Crowe tune? "It's not having what you want, it's wanting what you have..." I think it is an age related stance.

    I am so old and stupid now that half the fun is shopping and doing the hmmmmmm and hawwwwww before pulling the trigger and making a purchase.

    Hope you guys have a good weekend lined up over there TB.

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    1. Glen, you make a couple of fine points. The first is that, true enough, I still do have wants - they are just more focused and more specialized. And very seldom do I want something with that "razor focus" I had as a child, young adult, or even a young man. Now, the things I desire are for the most part not even things at all.

      Old me would be shocked at the amount of time and energy I spend figuring out a book purchase - how to find the best deal, how to pay the least shipping. Good heavens, I have the next 16 months of purchase planned out, one per month!

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  2. Wisdom in a post. Thank you.

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    1. Thank you, friend. All brought to you by the hard, bitter coin of experience.

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  3. I am very fortunate that many of my early memories were of my single mom doing the best she could to raise two boys on food stamps and then later married to a farmer and living through the farm crisis. A lot of lean years in a row shaped them and conversely me into spend thrifts of sorts. For me, a house isn't a statement but a place to stay protected from the elements and store a few possessions. A car is to drive me from point A to B. Most of my hobbies involve some sort of being outdoors away from other people and don't cost a lot of money. So eight years ago, I realized that while my peers were still making down payments on toys or Alaskan cruises, I could stop working for the rest of my life.

    These days when I want something, I guess I just buy it but I spend a lot of time researching first to find the thing that will last the rest of my life if possible. I am through buying things only to dispose of them a handful of years later. I am fortunate that I can afford quality and don't have to buy things only because it is the lowest price. I think this trait alone has probably saved me more money than any other thing I have done over the years.

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  4. I apologise I will have to come back and read this; but I found an article I wanted to share with you.

    https://www.barnhardt.biz/2021/02/03/repost-i-essay-on-market-decoupling/

    God bless.

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  5. I found an article I wanted to share with you.

    https://www.barnhardt.biz/2021/02/03/repost-i-essay-on-market-decoupling/

    There is a little on bit coins. Sorry of this posts twice.

    God bless.

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    1. Linda, no worries - I have posted more than twice more times than I like to think!

      Thanks for linking this article - I did see it when it came out as well. My walk away was "If you do not own it, it is not yours". Also that cryptocurrency falls into this category (which I can also understand).

      I have a love/hate relationship with Ann Barnhardt. I love her fearlessness; she loses me with some of her very ardently Catholicism and very virulent anti-Plague items (I speak from having lost family members). I do wish she would post more on economics.

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    2. What a fascinating woman...

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    3. Glen, she both fascinates me and drives me to distraction. I will say she does have the power of living out out her convictions, both personally and professionally.

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