rich | The Caleb Barney Collection

Chasing money

What do you benefit if you gain the whole world but lose your own soul? – Mark 8:36

As a competitive, ambitious, frugal, investor-minded individual who comes from humble beginnings, this graphic speaks to me.

The competitive side of me wants to be in the top 1% of everything I do (including financial-related goals).

The ambitious side of me wants to prove to myself, my family and friends, my acquaintances, etc. that I can do anything I set my mind to.

The frugal side of me wants to have the financial security money can bring.

The investor side of me hates waste and focuses on being as efficient as possible (like investing in assets and having my money work for me).

But when I think about what’s really important in life and what brings me the most joy, it’s not money…

I’m happiest when I’m hanging out with family – whether that’s at home, going on mini adventures to the zoo, watching our kids hang out with their cousins/aunts/uncles/grandparents, or going on our yearly trips to Mohican, Hocking Hills, or the beach.

I’m happiest when I’m working out and competing with friends at the gym (whether or not they know I’m competing with them is up for debate).

I’m happiest seeing friends and playing board games with them for game night or going out and grabbing something to eat.

I’m happiest finding people homes to live in or to invest in and negotiating the best terms for them.

And when I think about all that makes me happy, I realize that I don’t need to always be chasing 💸…life is easier with money, to be sure. But as long as I’m keeping things in perspective and still able to enjoy life while pursuing money, that will be enough for me.

Don’t lose your family, friends, or health chasing money. Because in the end, what do you benefit if you gain the whole world but lose your own soul?

Finding your rich life

What is your rich life? Rich doesn’t necessarily mean having a lot of money. It’s having enough money while being happy most days. Do you enjoy what you do every day (or most days)? Do you get to spend time with loved ones? Do you get to play? Find out how you can get to do something that you like doing every day, where it feels “light” to do it.

Why shouldn’t work be fun? I love the quote, “I take the work that I do seriously, but I don’t take myself seriously at all.” You should care about the work that you do. That doesn’t mean that you can’t have fun doing it though. You should not take yourself so seriously though. If you fail or mess up, that’s fine. You should want your kids to see you fail from time to time just so they know that it happens and it’s not the end of the world. But you should also want them to see you rise up and overcome those failures. You cant be kept down unless you chose to not get back up. Nothing can stop you except yourself.

What does it mean to be successful?

Who is the first person you think of when you hear the word “successful?” I guess it should be based on what you definition of success is. Does it mean they are a prominent businessman/woman? That they make a lot of money? That they’re famous? Or they seem to have it all?

But take a deeper look – not at the person who you think is successful. We’re not here to pick apart their lives/imperfections. Instead, take a deeper look as to what success means to you and why you define it that way. Oftentimes we are only looking at one of life’s domains (usually our vocation or financial success) and are blind to the other domains (do we have deep/meaningful relationships, how is our family life, are we physically healthy, intellectually healthy, or spiritually healthy?)…

Don’t think that because someone is famous that they are successful. Success, at least to me, should be defined by the whole package. Who cares if you’re making $200,000+ per year if you’re in poor health, if you have a broken marriage, if you never get to see/truly know your kids, if you’ve lost/damaged friendships, or if you’re morally corrupt.

Success is winning in every area of life. Success is being happy with what you have, but still striving to do better (for yourself and others). Success is focusing on the process, not the result – on enjoying the journey, and not only worrying about getting to the destination. Everyone has their own definition of success. We all value certain aspects of life differently (and our priorities will change), so don’t judge others for trying to achieve success in their own way. Just focus on creating your best, most successful life and let them do the same.

Compound interest – thought about in another way

“All the benefits in life come from compound interest — money, relationships, habits — anything of importance.” – Naval Ravikandt

If you want to look like Arnold Schwarzenegger, you’re not just going to work out really hard for three months then have the body of a champion bodybuilder. You have to put in the time and effort for the long haul. The same applies to nearly anything in life. To become a master of anything, you must treat your training (and habits) as if you are running a marathon. Improve little by little. Improve just 1% consistently, working towards your goals everyday and you will go further than most of those around you. If you want to write a book, start by writing a chapter, a paragraph, a single sentence. Every journey of 1,000 miles begins with a single step.

If you want to be the best mom/dad, it’s not about taking your children on that one vacation each year and then not really seeing them throughout the rest of the year. Instead, it’s about your daily interactions with them.

It’s not what you do once, but it’s the “compound interest” from your efforts over time that will make you rich.