This week’s theme on the Retirement Quick Tips Podcast is: The Downside of Being Wealthy

Today, I’m talking about how money can distort your reality and the relationships of those around you. 

You don’t have to look far and wide to see how money and the power and status that come with it completely warp one’s reality. If you’ve read the story of the rich man and Lazarus in the bible, you know what can happen when our reality becomes warped because of wealth and success. 

The rich man enjoyed all the comforts of the world. Fine clothes, food, and drink. It wasn’t his money that made him a bad person. It was his concern with his self and focusing only on his own needs that he spent eternity in agony in hell. 

Money can do this to people. Especially those who acquire power and status along with their wealth. People treat them differently. They get used to getting everything they want, never being critizced, and affirmed in how they are because of their outward signs of success. This is dangerous not just the rich man in the bible, or the powerful dictator, or the out of touch celebrity, but even for successful millionaires. I see it in everyday life. 

Wealth can damage our own sense of reality and it can also damage relationships. People will schmooze you, treat you differently, because they want something from you or because they want to be careful not to upset you so it doens’t harm them or their status. Even your own children can see you as not much more than a bank. Friends and colleagues are impressed and want to be around you because of what you have or can do for them, not for who you are.

So be careful when it comes to money, because being on a pedestal isn’t often a great place to be. 

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.    

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance