Are You Keeping Score? Keep Score, Keep Losing

By David Geller   |   September 3, 2013

Americans love to compete, and we love to win.  Many of us use money as a way to keep score.  Are we as financially well off as our friends and neighbors?  In some cases, we feel victorious.  At other times, we feel like we are falling behind.  Whether we feel like we are winning or losing, using money as a way to keep score is a false paradigm and distracts you from what really matters in life.

Using money as a scorecard implies you are in a game, and the person who dies with the most money wins. It is a terrible mindset for two reasons.  First, it is a game we can never win.  We will always know someone who has more money.  Second, it implies that our legacy is all about how much money we leave behind.  That is absurd.  Our real legacy is the quality of our most important relationships, and the positive difference we made in the lives of our family, our friends, and the strangers we touched.

Money is a tool.  It is a tool we can use to create the life we desire, to enhance the lives of the people we love, and to establish a living legacy that represents our passions and values.  We only have temporary custody of our money. At some point, we are leaving and the money is staying. Instead of using money as a way to keep score, start asking yourself how you can use your money, while you have control over it, to create the life you desire.

About the Author

CEO David Geller co-founded the firm in 1991 and led the creation of Behavioral Wealth Management. Recognized on numerous prestigious "top financial advisor" lists, David is an in-demand speaker for professional groups and JOYN workshops. His writings have appeared in The New York Times, The Wall Street Journal and The Huffington Post.

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