Always Notice The Context

Money is relative. It would be harder to manage $1,000,000 for someone with $1,000,000 than it would be managing $10,000,000 for someone with $100,000,000.

Money is what it means to you. What it is for.

A story about context

There is a story in Quora that may be true about Kerry Packer, the late Australian media magnate.

The point you can draw from it is that money is about what it does for you. Numbers are just stuff.

One day Kerry wanders into the “high rollers” section of a Vegas Casino wearing a T-shirt, shorts and flip flops. A Texan oilman sees him and says: “Sonny, I think you’re in the wrong place.”

“No, no, I don’t think I am,” replied Kerry.

“Listen, sonny,” replied the oil man, “I am worth $350 million, and they only just let me in here.”

“$350 million?” replied Kerry. Then he picks up a gaming chip: “I tell you what, I’ll flip you for it…”

The takeaway

Make decisions for you, not for what you think others might do.

Never lose track of your personal financial context when you make money decisions.

________________________________________________________________________________________________________

I help people understand and manage risk and other financial issues. To help them achieve and exceed their goals, I use tax efficiencies and design advantages—the result: more security, more efficient income, larger and more liquid estates.

Please be in touch if I can help you. don@moneyfyi.com 705-927-4770

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