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You have more power over your financial destiny than perhaps you have given yourself credit for. No one can stop you from being extraordinary, well almost no one. The truth is there is one person who holds the keys to your success or failure, your poverty or riches, your freedom or imprisonment.
Greed is good. Embrace it. Love it. Live it. In fact, greed may be the one thing that can save us. Don’t believe me? Greed was the foundation for this country. The brave souls who risked their life to settle in a new country did so out of self interest. Our forefathers recognized the importance of self-interest in the Declaration of Independence where they emphasized our unalienable right to pursue happiness.
Your financial life has a certain trajectory — similar to a train on a track. There will be twists and turns, but you can easily determine where you will end up if you stay on the financial track you’re currently on. What if the traditional methods of working hard, cutting expenses, and saving don’t work for you? Brown bagging it every day won’t cause you to jump tracks and end up somewhere completely different.
By becoming more valuable you will increase your “socially perceived value;” the value society believes you provide, for this, society will owe you a debt. What is money but a social debt, it represents the value you’ve provided thus far; what society owes you. You take that social debt (i.e. money) and then purchase whatever you desire in exchange for the debt.
Unless you have been living under a rock, you will know there are some major problems in the world’s financial markets at the moment. Working for a global bank, I guess you could say I have a front row seat for this debacle that in recent days has worsened with the stunning collapse of Bear Stearns.
Much of what I have read has blamed Wall Street for turning the problems related to subprime lending into a major global problem. But I also recently read this Newsweek article where a former mortgage broker shares his insights into the fraud and greed that has plagued his former industry: