Money has long held a prominent place in my head, influencing my daily decisions and serving as a measure of my success and security. As an individual who has experienced some financial success and operated at a high level within the workforce, I have pondered the concept of financial satisfaction extensively. Lately, I have read  a lot on Twitter about man’s quest to hit a specific number that signifies true financial contentment.  It’s usually in some post that reads “What number do you need to hit to retire?” Or “What’s your fire number”. However, after much contemplation and education, I have come to believe that genuine wealth transcends these numerical values. True financial satisfaction is not simply about amassing a specific amount of money but rather finding a state where money ceases to be the obsession and scarcity fades away. I actually believe it may not be a number but rather a shift in mindset.  Financial satisfaction arises when we shift our focus from achieving a specific number (a number that makes us feel “Safe” enough to retire) to our toolkits and our capacity to earn a dollar in any situation, and to fulfill our spending needs whether we lose our jobs, our businesses, or our investment….ie do we have the capacity to be thrown on the proverbial deserted island and take care of our needs?  When the answer to that question is yes, we shift from money being the focal point to more meaningful aspects of life, such as nurturing relationships, personal growth, and self-actualization because we can trust in our ability to provide for ourselves in any circumstance.

We live in this world often obsessed with material wealth and financial benchmarks, which has made the notion of a “financial satisfaction number” gain popularity. This number supposedly represents the precise point at which an individual can declare themselves financially satisfied. I use to think I had three numbers.  The first number was 5 mil – that’s when I can start to chill a little bit, stop working so hard, go on more vacations and not pop up in the office everyday. The second number is 25 mil – I like this number because I feel 5 mil is not enough to fly private but 25 mil gets you the private jet anytime you want to fly. Then there is a huge gap to my next benchmark which is 1 bil and I think 1 bil puts you in safe territory to own multiple homes, staff them, and be able to maintain that lifestyle forever. Now this concept lacks in a sense because it doesn’t imply that once these monetary milestones are achieved, happiness and contentment will effortlessly follow. The reality of happiness and wealth is far more complex than a single figure can encompass.

Now here is why these numbers I listed are not going to change anything for me really. I have read multiple studies which show that people tend to adapt to their financial circumstances over time. As income increases, so do your desires and your expectations, leading to a perpetual chase for more money. This is what we call the “hedonic treadmill,” and highlights the inherent flaw in the pursuit of a specific financial satisfaction number. Material possessions and external accomplishments can bring temporary joy, but the satisfaction derived from them is often short-lived, pushing us to desire more.  So now that we know this…we need to understand that there is no number.. there is just a feeling of satisfaction that we need to chase.

So now let’s redefine True Wealth. True wealth is really attained when we find a level of security in our ability to create wealth to a degree of trust that we know deep within we can apply our trade in any economy, any circumstance, and still produce a income and a satisfaction that will provide for our needs. When we attain this level of security in our abilities, we should aim to let go of the obsession with money. This does not imply abandoning financial responsibility but rather reaching a point where money becomes a means rather than an end. It becomes a tool to facilitate experiences, contribute to the community, and support the causes we care about, self actualize, and personally grow.

Now what’s the problem with what I am saying and why will very few people be able to “get onboard” with this idea. Well, a lot of us come from a scarcity mindset. Scarcity mindset is rooted in the fear of not having enough. It drives us to hoard resources and remain fixated on accumulating wealth. However, with true satisfaction, notice I said “Satisfaction and not “financial satisfaction”, this scarcity mindset starts to dissipate. We learn to appreciate what we have and trust that we possess enough power within ourselves to meet our needs and lead fulfilling lives.

As the obsession with money recedes, we redirect our focus towards nurturing meaningful relationships. Spending valuable time with family can become a priority. And this starts to become a feedback loop.  As you can leave the obsession with money behind you can develop strong connections with others and with experiences that will provide you positive feedback by contributing significantly to your overall well-being and happiness.

Now, I am not saying, completely disregard financial security.  What I am saying is develop the skill sets and become so confident in your ability to satisfy your needs financially that you start to shift focus from financial security to the freedom to pursue personal growth and self-actualization. True wealth is the ability to explore our potential, contribute to the world, and find purpose and fulfillment beyond monetary gains. Why do we trust so much in the 4% rules but we don’t have this same level of trust in our ability to create an income and take care of ourselves in any situation? We have become cowards. 

So, I am aware that this is all interesting in theory but how to you actually get to this point of trusting you capabilities so much that you can start to be less obsessed with a specific number.  First, you need to have confidence in your ability to make money in any environment.  My recommendation to get to that point, is to reduce your reliance on one source of income.  Start your own businesses, invest, get a second job, do whatever you have to do to test your ability to earn money in a multitude of situations and environments.  Two, work hard. One thing that sets people apart nowadays is a willingness to work hard.  Many people can put in an hour here and an hour there but very few people can actually work their fingers to the bone, run a four hour flow state, work a 12-18 hour day and execute that on a regular basis. If you can outwork the guy next to you, 99% of the time, you will attain greater success and ultimately you can apply this to self actualization, self improvement, and focus on family once you feel confident in your ability to earn a buck without working for for someone else. Three, view yourself as the boss.  Know you are a high value person, and you are not your circumstances.  Act as if you are in the circumstances you want to be in.  Fake it until you make it. And this brings me to four, don’t sell yourself short.  Know your value.  Don’t let anyone threaten your confidence by diminishing your value. If someone in your workplace diminishes your value and you have confidence that you can earn money another way, you can’t be touched emotionally or physically (ie a firing won’t have any impact on you).  Knowing you have this ability, removes anyone’s power over you.  You now have the power. That’s how and why you can now self actualize instead of focusing on a stupid number.