Does Money Buy Happiness?
I was recently interviewed by a local T.V. station and the topic was, "does money buy happiness". It is a frequent question I get from clients and friends, which usually turns into a lively debate. I think most of you reading this have probably been asked the question. So here is my take on it. I think money does not buy happiness but it allows you to buy things to help you not be unhappy. Sound confusing? Let me explain. Money allows you to buy things like shelter, clothing, food and other basic essentials of living that will keep you from being unhappy. The more money you have the more quantity of things you can buy. But you are the one that brings the happiness. For example, someone can buy a big fancy house but that is not the same as big fancy home because you are the one that makes it an inviting home. You can go to the finest schools and get the best degree, but you are the one that has to put it to good use. You can buy all the trendiest toys, gadgets, and cool stuff for your children but you have to provide the guidance and structure for them to become healthy, happy, and well-rounded individuals.
In my many years as a CPA and Financial Planner, I have noticed some common successful traits for clients who did not have a lot of wealth then became wealthy, through selling a business, inheritance, earnings, or stock options (doesn't matter how they obtained it). The common trait for sustaining the wealth is that they are the same person before they had the wealth as they are after, and the money does not define who they are. In addition, they surround themselves with experienced professionals, like financial advisors, CPAs, attorneys, etc. who can guide them to make sound financial decisions about their wealth.
One of the great things about my profession is that I not only help people manage their money, I help them manage most of their financial affairs, like taxes, charitable planning, risk, elder care, college planning, buying cars, and the list goes on and on. This ultimately helps my clients live their ideal, happy life.
Have a Safe Halloween!
Sincerely,
William "Bill" Cummings, CPA Cummings Financial Organization
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