What is the purpose of wealth?

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If you are on the side of the divide that thinks wealth isn’t necessary for a good life you may stop reading now and move along. My message is for the rich folks and those who strive towards being one.

What is the primary essence of being rich? Why do we strive towards making a lot of money? Some will say to take care of offspring, or for bragging rights, maybe it is to have a high place in society and to be respected, and some will say to be happy etc.

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Courtesy: wealthmanagementtips.com

My philosophy of wealth opines that those are all bull. If I want to be rich today I think it should simply be for one primary reason, convenience. Having the best of life, getting to do what you do with a little more ease, a little more pleasure and without having to worry about money. I think that should be a primary aim for accumulating wealth.

That is why they say money doesn’t buy happiness, but it does, in a way. I believe happiness has a lot to do with engaging with what you love doing. Money makes that easy and much more enjoyable. If collecting art pieces is your hobby, you get to have the best. If gadgets and devices are what you bask in then you get to enjoy the best immediately to come out. Let’s say blogging or writing is your hobby, you get to do that with the best materials available.

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wealthmanagementtips.com

While it is true that money can’t buy happiness, it sure makes one’s life easy. With money you can live how you want. If you have business a few kilometres away you can decide to take a plane while others take road transport. Where others take economy, you take first class. You go for a party, concert or club and you get to sit in relative privacy of a VIP section. You get a hotel and have beds are a bit better, the rooms more spacious and the attendants more courteous. While others get a free version of an app and having to compromise by contending with ads and nerfed features, you get to purchase a premium and get everything without unpleasant compromises. You are using a slow internet provider; you get to switch to a faster and more stable one without bothering yourself about the costs of doing so. I think that is what wealth should be for, little conveniences. If you are unable to enjoy these little pleasures of life then why bother being wealthy?

This is what I like to call the convenience theory. Any other school of thought is fraught with issues. For those who want to be rich for bragging rights or to maybe get back at inequalities suffered before, doing this adds nothing to your life or benefit it in any way. Same with virtually every other reason which I think may also apply to the non rich people. It is not only the rich that can brag about stuff, live ostentatiously, provide and prepare for their children, have respect in larger society or be happy. In fact the only difference between the rich and the others is the ability to do things enjoyably and conveniently without having to think about money.

Other perspectives aside this make much money becomes more of a burden than a joy. Always think of this in your quest to material wealth.

7 comments for “What is the purpose of wealth?

  1. Noni
    April 28, 2015 at 7:49 am

    Just to add a couple of things: Those who have wealth for bragging rights tend to have underlying issues – which tend to show itself in other ways.

    Also, the get-rich-quick brigade want the wealth but take illegal routes and are often unable to sustain it without looking over their shoulders.

    Years ago I remember someone who became a millionaire, one of the questions he was asked was whether his money made him happy. His reply was “I wouldn’t say it made me happy, but it meant I didn’t have to worry about some things like paying bills and I could do what I wanted”. This article pretty much sums it up.

    • Saheed Kareem
      May 13, 2015 at 9:53 am

      But why would you one want to be rich just so he can brag with it? What benefit does that bring?

  2. Eye_Bee_Kay
    July 22, 2016 at 10:56 am

    If I want to be rich today I think it should simply be for one primary reason, convenience. Having the best of life, getting to do what you do with a little more ease, a little more pleasure and without having to worry about money. I think that should be a primary aim for accumulating wealth.

    Wealth can also be used to create happiness for others, and assist those in need. Is it not said that it is better to give than to receive?

    The more wealth you are able to amass, the more you are empowered to right some wrongs, and affect humanity positively. The truly wealthy have gone beyond the pursuit of wealth just for personal comfort.

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