How much money is enough? There’s never enough! If I ask people how much money will make them happy many say: “Just MORE.” How much more? They don’t know. The quest for more money without a specific number or goal keeps us acting like hamsters on the wheel – running, running, running toward MORE and often away from meaning, purpose and happiness.
Sam Polk, author of the NY Times article, “For the Love of Money”, is a former hedge-fund trader whose last bonus was $3.6 million and it wasn’t enough. Sam grew up with little, but in his new career cwas soon making millions. Over the years, his goal was to make a billion dollars and he truthfully admits money meant power. Sam says his “wealth addicted” co-workers are like “alcoholics driving drunk and are responsible for the ever widening rift between rich and poor.” Remember McDonalds C.E.O., Don Thompson, with an 8.5 million bonus and a brochure for his workers about how to survive on low wages? Addiction anyone? (NY Times Jan 19, 2014)
Sam’s awakening came through his bosses and co-workers who were endlessly greedy and never satisfied. He says we are letting money addiction drive too much of our society. Sam, was lucky because as a recovering addict he recognized the signs of addiction – always looking for the next high, doing whatever it takes to get that high – including lying, cheating, stealing, denial of how your behavior is affecting yourself or others, emotional numbness, emotional isolation.
I think the difference between wealth addicts and the average American, besides the money, is that wealth addicts are power seekers and most middle-class Americans are happiness seekers. Money does provide power – especially in large amounts, but it can’t provide happiness. “Money can bring pleasure, but it will never provide JOY.” Robert Holden, of Happiness Now.
Most of us aren’t wealth addicts. But be aware of that push to always want MORE money. My advice is to figure out how much money is enough for you. My enough number is $80,000 a year. Harvard Researchers and authors of Happy Money state that after $75,000 more money does not increase happiness – AT ALL!!
Lynn Telford-Sahl, M.A. Psychology, Certified Addiction Counselor, Certified Money Coach, author of Intentional JOY: How to Turn Stress, Fear & Addiction into Freedom, National Speaker. Lynn has a private practice in Modesto, CA and specializes in treating addiction, anxiety, co-dependency and family addictive concerns. As a Certified Money Coach she works to identify top money challenges and create positive strategies to move forward.