Back to Basics - Being 'Financially Organic'

If you have been reading the newspaper, Germany’s 5th richest man, Adolf Merckle and French money manager Thierry Magon de la Villehuchet recently committed suicide due to the global financial crisis. Their sudden suicide has really made me think. These people did not kill themselves because they were not going to have enough money to feed their families but because the loss has hit their pride, honour and identities. I can definitely understand their pain because I have had to learn the hard way myself. But isn't this a case where money (and all its material possessions and status symbols) has begun to control our lives, and to dictate how we feel about ourselves.

Like the health industry where the best food to eat is now fertilizer free, pesticide free and, preservative free we have to be 'financially organic'. We have to go back to basics.

What does being 'financially organic' mean?

• It means remembering what is truly important in our lives. What are we really working for? The best question to ask yourself here is if you learnt you were dying tomorrow, what would you do and who would you spend your last day with? There aren't many people I know who are dying, saying, “I wish I had spent more time working!”
• It means living simply and doing without all the 'financial pesticides' in life. Robert Kiyosaki calls them 'doodads'. The best question to ask yourself here is if tomorrow you lose your job or your business closes down what would you keep that is necessary in your life? (This has happened to me). Hey our grandparents and great grandparents lived happy and simple lives without all the stuff we have today! There are so many simple and cheap joys in life. As long as we are with 'true' family and friends, and, we have the 'basic' necessities what more do you want!
• It means not going after money for the sake of making money (and all the material possessions and status symbols). You have to remember there are other important things in life – your health, your relationship with family, your god, and your friends. Hey what's the use in having a lot of money if you have poor health and no family and friends!

This financial crisis has shown us one thing. You can work your ass off and make lots of money but not everything is in your control and you can lose it all no matter what you do or how good you are. So if you aren't grounded in what's truly important then you might end up like one of those billionaires who committed suicide.

For more information on how I can help you email me on hoover@barongroup.com.ph.