What getting older has taught me about money
August 26, 2020And, it's not what you think...
The other day I rolled up to the bank and deposited another $29,000 from the sale of one of my houses. I waited like most people do with anticipation for closing but when it did I was like, “cool.”
Yeah, that was it.
Let’s back up a bit. If you’ve ever listed a house for sale you know the feeling of getting antsy for it to sell. You know the excitement of getting an offer and settling on the price and terms. (You also know that let down feeling if it falls through.) This time for some reason I was especially antsy about getting this one sold. I have no idea why but when we all signed the papers it was kind of like…”alright, that was cool. Now, let’s move on to the next one.”
If I’m being completely honest here I just have to say, I really like money…but not why you would think I would. I don’t love stuff. I don’t want a bigger, fancier house. I’m a huge car girl, but I have a car I’ve loved more than any other car I’ve ever owned and it wasn’t even that expensive so buying more cars isn’t my thing either. I don’t love shopping…at all. In fact, I have a three store limit because I hate it so much. I don’t care…at all…what other people think of the house I live in, the car I drive or the clothes I wear and guess what? That frees up a LOT of money!
What I love about money is what I can do with it. I love making money with money. I buy more houses than clothes because of what that house can do with my money and the money of partners that invest with me. I will live in homeless shelter before I lose my private lender’s money which also causes me to pause and analyze what I buy, why I buy it, the risks, and the potential it represents. I also lend money to other investors and that is the best of all because I don’t to ANYTHING to earn money with my money!
The other thing I love about making money with money is it frees up my time. Yes, I already work a lot of hours but I’d really be working a whole lot more if I wasn’t putting money to work. I love to help people so when you’re smart with your money you can afford to give some away to organizations who are doing great things or even people you know need a hand up.
While I love making money with money, the older I get I have learned some very important truths….
Money doesn't make you happy
As long as you have enough to comfortably pay your bills you have all you ‘need.’
If you don't run your money it will run you
We’ve all been in that situation where you’re wondering where in the world all of your money is going! Make sure it’s going where you want and doing what you want!
Give it away
Giving money to organizations you feel are important is more rewarding than you may realize. Do some research and give it a try!
Your money will work as hard as you make it
If you’re not making money in your sleep, you will forever be working.
Get educated
Read “The Richest Man in Babylon.” Ask a lot of questions no matter how stupid you may feel. Talk to people who are good with their money for their thoughts on it. Read blogs, books, magazines, etc. Go to seminars if that’s your thing. Listen to podcasts.
And finally….
Screw The Jones's
Keeping up with the Jones’s is about the best way to get yourself deep into debt and feeling completely miserable. Screw that idea and do what you feel is best for you, your family and your situation. Stop caring what people who you don’t like or even know think. Be the millionaire next door…you know the one you’d never guess has that much money tucked away working for them!
What have you learned about money as you’ve gotten older?
Teresa Matias
AEG Homes, LLC