Purpose Does for Money and Investing What Balance Does for a Bicycle

by Expert Contributor Brendan Magee of Inevitable Wealth Coaching

Learning to ride a bike can be a painful experience. While learning to ride, scraped knees and hands, bumps and bruises are the norm. Then you get balance and everything changes. The bike is now about freedom, independence and fun.

Money and investing can occur in a similar fashion. Most people agree that money cannot buy happiness, but people spend much of their lives working for, saving, investing and protecting their money, all in pursuit of something they know won’t make them happy!

Some people get out of that rut by eventually discovering and starting to work toward something much more valuable than money, something that truly fulfills them. They feel they’ve discovered their true purpose for life, why they were born and the purpose they were meant to serve. Prior to that discovery, money was really just their means to getting more and bigger things – a bigger portfolio, a bigger house, a new car, a golf club membership, etc. There’s nothing wrong with having those things, but does happiness last very long after acquiring them?

Fulfilling your life’s purpose isn’t so much about how much stuff you can get, it’s about what you are creating for others and the world. Think about well-known, selfless and caring individuals who have worked hard and changed the world, people like St. Teresa of Calcutta (Mother Teresa) and Dr. Martin Luther King, Jr. Think of all the goodness they fought for, and the money they sought to be donated for the most deserving people, not for themselves. The impact of their efforts has long outlasted their lives.

If you have never asked yourself what your true purpose for money is, what fulfilling your true purpose looks like, that may be why you don’t find money and investing to be very fulfilling. Without an ultimate altruistic goal, your experience of investing can be frustrating, confusing and disempowering.

The great thing about discovering and fulfilling your true purpose for money is abundance. Regardless of how much money you have or don’t have, you can experience what you value most in the world. If what you value most is love, it doesn’t take one cent to express love, caring or compassion for someone. When you find that you have an unlimited supply of something, you now have freedom and abundance. And isn’t that what can bring you long-term happiness?

The first step toward discovering your true purpose for money is to look inside yourself. It’s not an easy thing to do, but the effort is well worth it. Then figure out how you can use your money and invest in a way that is in alignment with your purpose. Like being able to balance a bicycle, knowing your true purpose for money will have a deep and long impact on your life.

Brendan Magee of Inevitable Wealth Coaching

Inevitable Wealth Coaching

Empowering Investors

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Wed, May 25, 7pm- 8:25pm via Zoom

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Brendan Magee is Newtown Square’s Resident Investor Coach