More Money, Less Joy?
The 18th century Irish statesman Edmund Burke once said, “If we command our wealth, we shall be rich and free. If our wealth commands us … we are poor indeed.” We often think that if we had a bit more money, our problems would be solved. The trouble is, that’s rarely how things work out. Today, host Rob West and Steve Moore talk about the ways money can affect our happiness.
· 1 Timothy 6:10 reads, “For the love of money is a root of all sorts of evil … and some by longing for it … have wandered away from the faith and pierced themselves with many griefs.”
· Expecting that more money will always make your life better is a recipe for disappointment.
· You often hear the phrase “money can’t buy us happiness” but then everything around us tries to convince us that it can.
· More money can actually lead to less joy in your life. The greater your wealth, the greater a burden it puts on your life.
· John D. Rockefeller, who earned about $420 billion through the Standard Oil Company, said plainly, “I have made many millions, but they have brought me no happiness.”
· In Ecclesiastes 5:10, Solomon writes, “He who loves money will not be satisfied with money … nor he who loves wealth with his income … this also is vanity.”
· Ron Blue put it like this, “It doesn’t matter whether you make $20,000 or $200,000 per year. You will always have choices to make. More money simply means more choices. And more choices mean more complexity, more confusion, and more time spent mulling over options. Taken together, all of these things add up to less freedom.”
· The more you have in your home or investment accounts, the more you have to lose.
· The only way to get rid of your financial fears is to acknowledge that it’s not your money. You are merely a steward of the resources God entrusts to you.
Here are a couple of questions we answered from our callers on today’s program:
· Do you know of any faith-based ETFs or mutual funds available? (Rob mentions FaithDrivenInvestor.org)
· I have a $60,000 inheritance from my grandfather. Do you think it would be best to keep it in the bank or to invest it somewhere?
Read more in “Wealth Paradox: Money and Happiness.”
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Featured Resources From MoneyWise
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