Achieving wealth through business is still a noble pursuit in this country. How we manage this financial milestone once it happens often defines us as a person.
Being smart with your money is an admirable quality but being cheap or greedy is not. It also matters how you make it. When you are fortunate enough to achieve some level of success make sure you spread the wealth. Remember the people who helped get you here because no one is ever successful alone. Think about those less fortunate and be philanthropic to the degree you can. Money can be a blessing if you treat it that way. It can also be a curse if you are not careful.
I’ve read multiple stories that state that the CEOs of large companies often make more than several hundred times what the typical worker makes. This is much different than just a generation ago when that number was 20-30 times (which was still quite a lot). There is no business or moral rationale I can imagine that would lead to the conclusion that this is a good societal development. In fact, it is a troubling trend that will lead to adverse socioeconomic consequences if we are not careful.
I thoroughly enjoy seeing my clients become successful. It’s always fun to watch people exceed their own dreams and aspirations. Building a successful company is demanding work and should be generously rewarded. However, my own contention is that true success is not just the result of significant effort and business savvy but also due to strong ethical and moral behavior. The private sector is still the backbone of the U.S. economy and historically when it does well, we all benefit. It’s a win-win proposition for all stakeholders. Let’s make sure we all strive to keep it this way.
Spread the wealth; be financially smart and personally generous at the same time!