One of the greatest actions you can take to educate yourself about markets and economies…
The bee seems like a simple insect, but without its ability to pollinate plants, we would most likely starve. Water seems simple enough, but it is the source of life to all living organisms. Air is nothing more than a mixture of gases, but without it, we would all die.
Money also has a higher purpose, and when we ignore that purpose, we do so at our own detriment. Money’s purpose is to enhance relationships, which in turn can facilitate the building of towns, cities, states, nations, and global communities.
Think about the beginning of banking. Those in the local community knew the people who ran the bank, and citizens with excess money lent it to the local bank in the form of savings and checking accounts. The bank paid interest on the loaned money and subsequently lent money to those in town who wanted to buy homes or start businesses. The community became prosperous as the cycle of money was correctly facilitated through the bank, which served as the financial intermediary. If greed, however, was to take over, the town would most likely be harmed.
Think about the beginning of stocks. Businesses were becoming too capital-intensive for any one person to manage, so stocks were created to spread the ownership of the company among many smaller investors, who collectively were significantly greater than any one individual. The investors knew each other and would attend the annual board meetings. These relationships helped to form some of the greatest companies we know today. Yet when greed took over, like in the case of the Wall Street Crash of 1929 when stocks were bought and sold solely in an attempt to make money, it was followed by great financial pain and turmoil.
History is full of good and bad stories about how money serves to both enhance relationships and line pockets. The good stories endure and transform into rich legacies, but those stories rooted in greed usually end poorly.
Ever more so in these modern times, the world seems to view money as a form of power rather than as an incredible tool that can be used to develop and enhance relationships. It is remarkable that the same thing that can serve as a catalyst for strengthening relationships can also easily destroy relationships. Greed and a hunger for power can pollute the positive aspects of money, reverting it from a relationship-enhancing tool to a vehicle for evil and wrongdoing. When water is polluted, it can kill; when air is contaminated. it can kill; and the bee, when provoked, can kill.
The Financial Consulate continually seeks to help its clients enhance their overall wellbeing by providing sound advice and guidance regarding finances and wealth management. We endeavor to foster more meaningful relationships with our clients by getting to know them, their hopes for the future, and their personal circumstances. We strive to foster a collaborative, positive relationship with our clients so as to develop together the best plan for their long-term financial management. By doing so, we exemplify the positive aspects of money and wealth management through sound ethical financial advising, bringing to light money’s higher purpose in this world.