Money’s got a bit of a bad rap. That might be an understatement – it’s been called the root of all evil. I’m not sure if a reputation can be worse. But is it all bad?
I propose that money as an end is meaningless (and may even lead to evil actions). Money as a tool, however, can be a different thing entirely!
Have you seen this pyramid before?
Yeah, you probably have. Abraham Maslow was a smart cookie. Factoid: apparently, he is the 10th most cited psychologist of the 20th century.
As a refresher, this is the Hierarchy of Needs (a.k.a. Maslow’s pyramid). The idea is that we need every lower tier in order build up to the pinnacle of being, which is ultimately self-actualization.
I first came across this pyramid in Psychology 101 back in undergrad, and really, really liked this concept. Still do. It’s a pretty simple framework to look at and contemplate.
- Where am I on this pyramid?
- Are there “bricks” in the lower tiers of the pyramid that are missing or could be bolstered? How can I shore up the more foundational aspects? (A common one for this day and age is food, water, and rest. Seriously, healthy eating, adequate hydration, and good sleep can be surprisingly rare commodities these days)
- Looking upward on the pyramid, what are the next bricks that I can lay to help build towards my pinnacle self?
For that matter…
- What is my pinnacle self?
What a great question to contemplate.
If you were free of all financial strain (in a position where you can afford anything, just not everything), what would you dedicate your time to?
This is not something that we have generally been in a position to consider, at least until traditional retirement. Even then, I am curious as to how many retirees feel truly free of financial strain.
When I was little, I had all these dreams. I wanted to be an archaeologist and work in the Valley of Kings. I wanted to be a fantasy author and write the kind of books I loved devouring by the bagful on a weeky basis (nerds unite!). I think these dreams became subdued by middle school, when “reality” set in. Now, when I contemplate the question of what my pinnacle self would do, if free of all financial strain, I have different dreams than I did in my single digit years. I dream of certain experiences, acquiring particular new skills and putting these new skills to work in the name of creation. However, the feeling of excitement, of endless possibilities and open doors – that is a feeling that echoes back to those bright early days.
I love the work that I do. I don’t generally dread Mondays the way some others seem to. I also, however, have other dreams that I would like to pursue. Become a staff physician is part of what I picture for my “pinnacle self”, but not the entirety of that identity, not by far. An abbreviated list would include wanting to be:
- A good daughter
- A good wife
- A good mother
- A good doctor
- A writer
- A mentor
- A traveler
- A dreamer who brings those dreams to life
Financial independence – money as a tool – would really help foster the freedom to pursue those dreams with more focus and intentionality. That corner of my mind that is constantly crunching numbers in the background might have more breathing room and make space for other thoughts. Sometimes I feel like I’m not even aware of how much mental real estate an issue is taking up until the issue goes away and I have that space back. I wonder if financial concerns are like that too.
Here are some neat questions to contemplate on your own journey to financial independence, and possibly early retirement.
- How would you describe yourself on introducing yourself to someone new – without referring to your main occupation?
- Would you still go to work if you did not need the money? If you would, but with some changes, what would those changes be?
- In terms of Maslow’s hierarchy of needs, where do you think you roughly sit? Are there bricks below to shore up? What are the next bricks in the pyramid that you can lay – starting tomorrow?
What would your pinnacle self be and do?
Another Canadian PF blogger and a woman! Yay!
You are wise to start thinking about money early in your career.
My thinking is that money only amplifies the person you already are. At least that is what I have seen. But this also applies to other tripwires that snare people such as power and status as well.
Hi Dr. MB,
Thanks for commenting! I’m fan-girling a bit because I’ve been reading your blog for a few months now and am so tickled that you found my blog 🙂
Agreed about the amplification part. I think the cool bit is that the person someone already is can change if that’s something they want. So, even if those tripwires you mentioned – or others – are part of one’s makeup, if the tripwire is identified as present AND as something that needs to change, it can be worked at. I like how the FIRE movement can be quite reflective at times – I know it has gotten me thinking about things I haven’t thought about in much (or any) depth before. Hopefully it can help others reflect too and find some their tripwires!