I read it somewhere that if you want to get rich, you have a few choices. Marry a very rich person, born into a rich family or work very very hard. Since you are not rich yet (and have asked “Is Getting Rich Worth It?”) , you don’t have the above first choices. So, you have to work very very hard for it. Now that you are neither born with the silver spoon (if you don’t want to marry into riches, your path is full of hits and trials.
Sadly your only choice is to work very very hard for it. Since it involves a disciplined approach towards earning and investing your considerable money for a very long time, it is not as great a path as it is painted in the story.By starting your own business or working your way up in the company you work for, you earn this money. Then using the money you earn , you slowly build your small nest and it gets bigger with time.
But the most important point to it is that there is no free lunch in this world. You have to invest something to be rich. There are many types of investments , but the most important one is investment in time. To get rich, you have to invest a very good part of your time in your career. To be better than average, generally we have to invest more than the average. There are several sacrifices that have to made. Time that you would probably prefer to spend with your family or your friends. A weekend with your family or friends. A cousin’s wedding. Or a sudden glitch in your product creates a chaos in the company. All of it takes and demands time. Now you tell me, “Is getting rich worth it?”
Still confused? Now Let’s scroll down and read a few pros and cons.Wait, I forgot my cup of coffee. And yes, read my article about being rich here. Ya. Let’s continue now.
In favor of being rich in relation to “Is Getting Rich Worth It?”:
It creates a sense of security:
The number one reason someone and probably most of us wants to get rich is to feel secure of our future. You probably too want a secure life. No more uncertainty and no more fear of uncertain events. And if some uncertain events do occur, you have the confidence to resolve it. We tend to accumulate wealth in order to deal with the uncertain events of economy. Moreover, it gives you confidence to do what ever you want. When you have money, you feel more protected and less stressed about food ,clothing and shelter.Also, you are assured that you are going to fulfill your family’s needs and wants.Visiting malls are going to be fun. Child’s demands are going to be amusing.
You wont be hungry:
Well, if I am sure of one thing (just a probably. Ha ha ha!) is that you are not going to be hungry.Whatever happens, you will be able to bring food to the table. Well most probably healthy food.
You can choose your profession wisely:
One thing that I feel to be true is that you are no longer tied to a job you don’t like. Becoming rich, gives you freedom to choose what you want to do in your career and in your life.
Most of us hate our job. Still almost everyone drags himself to the same job for the sake of that fixed pay check they you receive at the month end. It’s fixed and secure. And probably it is the only thing for which you are still doing that job. And it is really very difficult to carry on. Every day you think that may be today is going to be better. Most of us keep repeating this soul sucking career.
And what more is that there is no guarantee if you are going to have a job next month. A small mistake gets you fired from your job. Or what about the technology changes that keep taking up so many jobs.Then those horrible recession times. That same job that used to give you a regular pay cheque is gone. The only certainly becomes uncertainty.
If you are rich, you don’t have that compulsion. You are free to do what you want. You are free to work on what you want. Also, you are finally free to start that business , you always longed to start. Being rich gives you this freedom. You are less stressed on this aspect. And may be, because you are less stressed and less pressurized to earn a living, you may make better decisions.
You don’t have to look on the price side of the menu:
One thing that every person (except most rich people) does when he goes to a restaurant is that he checks and compares the price with his comfort level. And I am guessing that you might have done that too.
O my God! The salad is this much costly. I can make salad for a procession with this much money.
What? Did you remember something? Well, if you are rich there is a good chance that you are going to give less importance to the price part of the menu and more importance to the quality part of it.
You can do what you want:
What? You don’t want to work at all? Well you have money to keep yourself going on for the rest of your life. Who am I to interfere?
You can travel or you can do nothing. It’s your life and if you are able to fulfill your needs and wants, you can retire early. Or you can semi retire. Do some art work. You don’t have to worry about your finances.
Now I am tired of painting all the rosy pictures of the “Is Getting Rich Worth It” article. Lets bring out the villain in me and lets write about the ugly stuff ( moahhhhhaaaaaaaa! ).
Some of the aspects against it in relation to “Is Getting Rich Worth It?”:
You are lonely:
After all the celebrations about your hitting the rich list and all the excitement, you start to feel alone. All alone. Being rich is different. You go through different sets of work ethics and many sacrifices. The journey has so many sacrifices and hard work. You choose more work and less play. There are going to be several such moments when you would have to choose between friends and family and work. And out of some urgency or compulsion, you will have to choose work. You are going to miss out on many birthdays of near and dear ones. Now, all these result in you being somewhat distant from in your relationship area. You may start to feel lonely.
Friends may not be real:
As you start to climb the ladder of wealth, you will start attracting many people to you. You will start to make many new friends. Your social circle will change. You are going to have many new good friends. But, beware! There are going to be many friends that are attracted to your wealth and not you. They will come with the inflow of wealth and vanish at the first sight of uncertainty.
Hold on to your true friends and family members. They are going to be one of your biggest assets. They were with you when you were not wealthy. The most they would expect from you would be a small part of your valuable time. And at the time of any uncertainty, they are going to be by your side. Guiding you, motivating you and helping you boost your confidence.
Relatives expect from you :
Not what you are thinking about. As you start climbing the stairs of wealth (Hate to repeat the same line as said two paragraphs before.), you are going to be busier and one thing is going to be scarce. And that is “Time”. You won’t be attending as much family get togethers or going out with friends as you used to. And , they are going to notice that. They are going to feel your absence. Probably, no one is going to pressurize you to come, still there is going to be an expectation that you are going to show up. And , on the contrary, you are going to miss out on many such occasions.
Anxious over your family security:
Although, not so much , but probably on the back of your mind, you may feel insecure about the safety of your family. You may have to plan out the security measures and educate the family members. This small point may some times keep you awake many nights in a row.
Afraid to loose everything:
One of the many stresses that is very common among rich people is ” Fear To Loose Everything”. You may be afraid that somehow, something will go wrong and you would have to start again from square one. Again, many sleepless nights welcoming you. This fear may be like an alarm clock that is beeping after every small interval and you have somehow broken the off switch. It will keep going on and you will have to learn how to start snoozing it first and then later repair the off switch. I happen to know about a very good trainer.
Now enough of the Knowledge Bla Bla!:
What if you want to be a middle class citizen? You may choose the middle path of being middle class. But how do you do that and how do you define what middle class is. Probably by being an employee. But, again you are going to ask for more money and pay more taxes. Are you going to be happy and content then? Or are you going to carve for becoming rich? Try and tell in the comments section below.
Still, becoming rich is probably better that not rich:
If you ask me, I would any day vote for being rich. It takes the pressure off from you on many points. I no longer have to work for basic amenities.Also, I can keep affording them even if I stop working. I can concentrate on what I like doing.
And if you look at the opposite side of it, you find that doing a job you don’t like and still dragging yourself for the next 35- 40 years is not easy. On the contrary, you may wish for financial independence. This may be a better alternative. Still it is becoming rich by many metrics.
I wish you can have a rich and meaningful life in terms of health, business and relationship. Regardless of whatever you choose, you may have serenity of mind.