• Money & Motivations

  • Feb 15 2025
  • Length: 50 mins
  • Podcast

Money & Motivations

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  • Summary

  • Journey > Destination. Does the world run on envy? Charlie Munger, who once said, “the first rule of a happy life is low expectations”, argued that it does. We even have the adage ‘keeping up with the Joneses’ to encapsulate this ongoing economic arms race. In-your-face financial flexing is difficult to ignore. A moment of boredom followed by a screen tap and a world of obscene wealth can be streamed directly into your consciousness. Enough of this, and you begin to develop a subconscious crisis, sleepwalking your way into an unaffordably expensive situation. Worse, you could develop deep seated resentments culminating into pervasive discontent. By “low expectations,” Charlie meant that you should expect less in exchange for your efforts. It’s not a call to curb your aspirations. When applied, this mindset repels disappointment and encourages sustained motivation. High-profile black swan jackpots and grift have sold many on the fallacy of wealth without effort. When money is conflated with meaning, the expedient path seems obvious. Only a chump would expend his energy for something that could be more easily attained. Millions flock to recently legalized betting markets, trading schemes, and hot potato crypto scams, chasing the Leprechaun. A story as old as the Leprechaun itself. Most don’t realize this is a disenchanted path without a destination. The plight of a materialist without wisdom. A life lived with sublime purpose is more precious than any asset. It is the noblest of pursuits, with monetary wealth being a common side effect. The grandest human stories are those of sacrifice, not envy or any of its accomplices. Ben and Brent explore this subject in an open-ended conversation, drawing on several sources for inspiration. It’s a complex topic to unpack, to be sure. One we hope to refine in future episodes. Please share your thoughts and comments or future episode ideas with planning@nwmgadvisors.com! ______ Sources The Soul of Wealth, Daniel Crosby: PERMA (Positive Emotion, Engagement, Relationships, Meaning, Advancement) ______ About your Hosts Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com Sign up for Ben’s newsletter at www.karastick.com Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/ ____ Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573 Learn more about Brent and follow his newsletter --> https://infinitewealthplanning.net/about-us/#founder ______ Editor Trevor Gargano Financial Advisor Marketer Trevor@nwmgadvisors.com https://www.linkedin.com/in/trevor-gargano-72727b67/ ______ Follow our socials to support the podcast; see extra clips and announcements! Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod Facebook: https://www.facebook.com/profile.php?id=61556458987483 ______ Disclosure: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Advisors associated with National Wealth Management Group may be either (1) registered representatives with, and securities offered through LPL Financial, Member FINRA/SIPC, and investment advisor representatives of National Wealth Management Group; or (2) solely investment advisor representatives of National Wealth Management Group, and not affiliated with LPL Financial. Investment advice offered through National Wealth Management Group, a registered investment advisor and separate entity from LPL Financial. ​The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.
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