Money is Life?

It's sad when you read the headline, "NYPD: Madoff investor commits suicide in office". The founder of an investment fund apparently lost $1.4 billion to Bernard Madoff's alleged $50 billion Ponzi scheme. He slashed his wrists.

You may have heard of similar stories. Like the taxi driver who played the stock market in Hong Kong in 1997/98, and got played out by the market instead. He jumped off an apartment.

Of course, the stories of gamblers who borrow from loan sharks (who charge 10% interest per month?), and are unable to pay back (because their 'winnings' on their horse racing bets are invariably 'loosings') is commonplace. These losers will try to disappear into thin air. To avoid a broken leg, or an even worse fate. Their families also suffer, oftentimes in silence.

Is money equal to life? No money, no life? Plenty money, plenty life?

Unless you are still living in a place where you exchange what you have, to get what you want (barter trading), money is thus very important. Although the ending of one's own life, or the ending of another person's life, are extreme scenarios, it does indicate the power of money.

Money is important in our present world economy because it has become the medium of exchange (in economics' lingo). The measurement standard of one's assets and liabilites ( in acccountancy's terms). The indicator of one's wealth or poverty.

The moral of the story? If money plays such an important role in your life, don't you think that it should be your number one priority?

It does not mean that you should be consumed, every waking hour of your life, with the thought of making tonnes of money. Of getting money at all costs.

But it does mean that you should at least learn about how to play the money game. How to manage your existing money. Whether as a student, when you get your $1 as pocket money. Whether as an employee, when you get $1,000 a month.

Some folks live a happy and fullfilling life with an income of $1,000 a month. Others struggle, 'eking out a living' with a salary of $2,000 (or $5,000 or $10,000) a month.

Some folks have a $1,000,000 and are neither happy nor fulfilled. Others have $1,000,000 and are happy and fulfilled.

Money is important. But it is not the be-all and end-all.

How you manage your money will determine whether you have misery, or happiness in your life. $1,000 with good management will become $2,000 in 3 years. $1,000,000 with poor management will become $0 in 3 years.

So, what should you do? T Harv Eker recommends that you go from being a 'know-it-all' to a 'learn-it-all'.

Set aside 10% of your income, and use it to get an education. To buy books, or DVDs, or attend training seminars, that will increase your knowledge. Knowledge to increase your power. The power to act correctly. To act to get the right results. The right results to make you happy.

I wish you Success in your undertaikings, and Good Health and Wealth to you and your family. Take care!

P.S. Read in the papers (7th January 2009) that a 74-year-old German billionaire (ranked the world's 94th richest man, whose assets were estimated by Forbes to be worth $9.2 billion last year (2008?)) also committed suicide (by throwing himself in front of a train) on 5th January. All because his investments were in trouble, caused by the global financial crisis. Don't you think that's similarly tragic?

P.P.S. Associated Press reported that on 27th January 2009, a man in Wilmington, California fatally shot his wife, his five young children (twin 2-year old boys, twin 5-year old girls, and an 8-year old girl) and himself, all because he and his wife had been fired from their hospital jobs. Very tragic, and very sad. Any lesson you can learn from all the cases above?