Photo by: U.S. Gov., Public Domain.
Written by Ricardo Alvarado. Published: January, 2016.
How to motivate yourself when you have more money than you need?
To quote Bud in the Wall Street movie:
How much is enough, Gordon? When does it all end, huh? How many yachts can you water-ski behind? How much is enough, huh?
Two worlds: When I started out from scratch the world was an endless amount of work that needs to have my fullest attention. Working day and night to search out deals stay on top of it all. But then suddenly I realized that I had achieved moderate success and had enough money to live a very comfortable life. Then the other world starts to dawn. What now? Should I just become a playboy and buy cars and boats. Be a beach dude walking around with a drink in my hand and talking to bikini bimbos?
Not all people can handle wealth. There are countless examples of people winning the lottery and instead of making their lives better it makes their lives worse. A few years after they won the prize some people have blown their money and are a alcoholic who have lost the grip on their lives.
So even if avoiding becoming a total alcoholic the moderate version of this is that you become demotivated.
So how to get motivated when your stomach is totally full:
1 Develop a mindset of never being satisfied. Always want more and more like it is the oxygen you breathe.
2 Take some time off and be that beach bum. Walk around the beach and be obnoxious to those beach bimbos. But have a schedule to get back to business after 2 weeks. Live a little, but also be a Nazi to yourself and get back in the game when the schedule says so.
3 I always think of my work as running an enjoyable never ending marathon. I try to enjoy my work. I never set up numerical barriers and goal posts in my mind. I want to have 10 properties, 3 cars or 2 million dollars. With such barriers there is a big chance I will think to myself that work is done and start to have some existential crisis. Life and work is an ongoing business process.
4 If things gets boring and routine try to mix things up a bit. In the property market there are many ways to invest. When I have gotten a bit bored I have tried to do things outside my area of expertise to try to learn new things and challenge myself. Buy something abroad, try to renovate something and so on.
5 I think I am always moving forward or I am moving backwards. Living is moving forward and progressing. Moving backwards is death. If I retire I am sort of waiting to die.
Start using my methods and start moving forward again.