“Success is uncommon. Therefore, it cannot be enjoyed by a common person.” – Unknown

Do you have what it takes to be financially successful? Do you know what it means to be financially successful?

If you think earning or having a lot of money makes you a financial success, well…you may have some changes to make.

The simple act of earning or possessing money does not constitute financial success. Earning and possessing money tends to be a very dynamic and often transient process. We all know someone that has more than we do. It doesn’t matter how much you have, there are others with more. Money that is. The interesting thing is that more often than not, I find that the folks with the most money also have the most problems. That is where today’s quote comes in.

It is quite common to have a lot of money. If you live in America and you are reading this on your computer or smartphone, then you have more money than most of the rest of the world’s inhabitants. But you probably don’t see that. If you are like most people in our society, you see only what you don’t have. It is highly likely that the things you do have are often taken for granted. Their importance to your daily existence is not regularly acknowledged. For most of the people that I see professionally, the root cause of the problems that they bring to me is usually related to lack of gratitude. These are nice people. Well thought of in the community. They have plenty of money and could have excellent financial positions. Unfortunately, often they don’t because their focus is on what they don’t have instead of what they do have. They think about “compounding” rather than “methodically growing”. The former requires risk taking. The latter patience.

Who has time for patience when the Jones’ and the Smith’s are pulling ahead? Or are they?

I wonder if you have ever actually taken the time to think about these two things?

1) Are my friends, co workers and neighbors actually doing better than I am financially because they have a nicer car and go on more vacations? Or, is it possible that they just spend a lot more money than I do in order to look or feel more successful than they are?

2) Why am I impacted by what friends, co workers and neighbors do?

Truly, only the second question is relevant to someone seeking success. I only mention the first in order to illustrate a point. It is so easy to assume that everyone else is doing better than you when you focus on material things as a way of keeping score. True financial success is financial security. My definition of financial security is: having the things you need, a few things you really want and enough money to confidently keep you in that state moving forward. If you have more than that, good for you. But you don’t need more than that. Acknowledging that fact is the first step in financial success.

So here is a thought to consider… If just for today you were able to let go of chasing money, what else would you have time for?

True financial success is having the money you need, not the money you want. True financial success allows you to do the things in life that are important to you. If you agree, then it is time to change. It is time to acknowledge. It is time to reset your goals. Mostly, it is time to start saving more and spending less. Because while your friends and neighbors are buying the things they want, you can be confidently saving for the thing you really need… time.  You see, it is possible to buy time. It is just highly uncommon.