Long term, not a lot changes.
In the short term you quit worrying about a lot of things.
Believe it or not money can solve or at least improve most of your problems. It doesn’t make your life perfect, bad things will still happen, problems will arise, you will struggle. Day to day concerns start to go away. You’ll quit paying attention to small costs like gas and groceries. You’ll have a sense of freedom, knowing that you can do more of the things you want to do. This is largely impacted not just by how much money you have, but how you make your money and how reliable it is. Once you’ve achieved status and value, you become comfortable with yourself professionally. You quit worrying about making a good impression on everyone, you don’t need to suck up to your boss anymore, you may not have a boss to suck up too. You likely are considered a resource and an expert in your field. You can operate without constant concern.
You will have a sense of freedom knowing that you can do what you want to do without having the pricetag be a major concern. I constantly hear anecdotes about some wealthy person who still buys clothes at an outlet store or drive an old car and counts every penny they spend. While it’s true most wealthy people still have certain items that they never upgraded, there are a lot of other things that they indulge themselves with.
Money probably won’t make you happy forever, it can make you happier in the short run. On average, wealthier people are happier. It’s typically not being wealthy that makes them happy, it’s becoming wealthy that brings excitement and fulfillment. Becoming wealthy and making money comes with other accomplishments and achievements that provide fulfillment, even if you get to a point were adding cash to your account doesn’t change anything. This is why billionaires are still hard at work, they are fulfilled by what they do and love the feeling of being productive. Regardless of how much money you make, if you like making money now, you will like it in the future.
There are two big changes that will occur once you become wealthy:
- You won’t change, you will become more of who you already are.
- People around you will change.
We are all putting on some sort of act to impress different people. This isn’t an accusation, it’s just a reality. We feel a need to make a good impression and impress people. We want people to think we are smart or funny or responsible. Talk to someone much older than you. You will notice that they quit caring about what people think or offending people, they just say what’s on their mind. As you get older you realize that you have less people that you need to impress. You’ve already gotten married, had kids, a career, friends; you’ve already finished all these steps, you don’t need to impress anyone anymore. A similar effect happens when you are wealthy. You don’t need to pander to anyone, you will start to feel invincible. This is often a good thing, it helps build your confidence and makes you more comfortable.
The people in your life will change as well. People will give you more respect and attention when they know you are successful or have a lot of money. Money is interesting, people will start to pay attention to you. They will even pay attention to you have no expertise. When you are rich, people assume you are smart and a good decision maker, they follow your lead and listen to your advice.
Dynamics will change in your relationships. People will start to expect you to pay for things. When you go to dinner, your friends and family will expect you to pay. When someone has a problem, they will come to you to fix it. You will need to learn to manager this. It will become difficult to figure out when you should just give people the money or when to say no. You will need to set boundaries and manage people expectations.
Money will change your life. Sometimes it will make it better, sometimes it will feel like it made it worse. Remember that being wealthy is an option, an option you have that most people don’t. Some will resent you for it, some will respect you for it. Either way, it’s a unique experience though that most people will never have so enjoy it.