Friday, April 27, 2007

Money, status, and age

Sure, everyone wants to earn a living - but it turns out that with age comes a realization for many that status and money are not as important as knowing they somehow made a difference.


It sounds like they're saying that when you're young and foolish you think money and status are important, but when you get older and wiser you realize that they never were important.

I wonder if this really is the case? It occurs to me that perhaps acquiring more money and status become less important as you get older because by then you have earned or saved enough of each to live on in the long term.

I know first-hand it's quite easy to say that money doesn't matter when you have some. It's just that I tend to hear these sentiments coming the loudest from people who are resting on their laurels and collecting their indexed pensions. I somehow doubt they're looking back and saying "Wow, I wish I hadn't spent all that time in my youth building up financial security and a respected standing in the community!"

I just think people who are inclined to say that money doesn't matter need to keep that in mind. It's one thing to say "When I was young, it was more important to me to acquire money and status. But now I have enough of each and I can focus on other things." But it's quite another thing to go to someone who's in a place in their life where acquiring money and status are important, and try to convince them that these things aren't important for them just because they aren't important for you.

The litmus test: Thing back to the time one year before you got your first grownup job, however you choose to define "grownup job" to apply to your own life. How would you feel if your financial situation and social status now were no better than they were then?

3 comments:

CQ said...

_This unfulfilled 'near opportunity' or that once 'almost potential'... There is also a realization when touted 'status and money' doesn't alway materialize as assumed along with age and work.

_In comparison, my well-off multi-kid parents are of a '50s era. They'll say I should try harder, be patient. I'll remind them of how they owned a 1st detached house - in Toronto, and a waterfront cottage (but not a chalet like today's era), without two jobs, without education, still in their 20s(!?!). I got another successful boomer relation whose so-called built-up fin. security was puttering about in a muscle car during his flashy 70s-80s younger adulthood.
_"Earning a living" isn't what it used to be.

laura k said...

Imp Strump, I love this post.

I like to say that money is not that important after your basic meets are met and you have achieved a certain comfort level.

I've been poor, and I know how much money really does matter, what a difference it makes in your life. But after our needs are met, it's up to each of us how much we let *want* control our lives.

I can say the difference between being comfortable and being rich doesn't make one happy and isn't a worthwhile goal in itself. But the difference between being poor and being comfortable is everything.

impudent strumpet said...

This is good for disillusioning older generations: http://www.bankofcanada.ca/en/rates/inflation_calc.html