Desensitized to Money

Would you give away $1? How about $100 or $1,000? Probably not and no one would. It's your money and there is a somewhat emotional bond to it. You earned it, obtained it, worked for it. It is yours now until you decide spend it. 

That emotional bond is what holds back people from understanding true potential. The higher amount of money, the bigger bond that is created between the holder and the paper. But this doesn't apply to everyone, not even close. Certain people are what I believe is best as "desensitized to money." The amount of money does not trigger that emotional response like it does for the average person. Let's look at some groups of people who think this way.

1. Gamblers. Think of money as a risk/return probability rather than a gamble. It allows them to put $100k on the line and lose without self-harm and destruction. A must in this industry.

2. Politicians. Individuals who handle trillions (!) of dollars of money every year. They determine spending and allocation for 330 million people. Self-explanatory how much money this is truly is.

3. Ultra-rich Individuals. If Amazon stock drops 5%, Bezos lost billions in unrealized capital gains. BILLIONS. You think he is concerned about a good or bad stock market day? If he was, he would be an alcoholic by now.

The benefits to this is the ability to take risk. It allows you to make decisions the average person would miss out on due to their emotional bond to the capital they have. And as you have to keep making difficult decisions, less people are able to. In a way, it helps eliminate and separate out the competition.

This does not mean money management and proper risk evaluation are not needed; those are musts in order for this to work. The important part is not letting your emotions make your financial decisions. It holds you back and distorts your returns. 

Become desensitized to money and allow yourself to focus on the goal, plan, and process. Enjoy the finer things in your day and stop letting money dominate your daily life choices. It's holding you back.

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