No matter how much money you have, or don’t have, there will be bouts of fear and anxiety around money. That there’s not enough money, you’re going to run out, you miscalculated your retirement number, etc. There are literally thousands of things that can prompt fear and anxiety around money.
At first thought, a common sense solution is to make more and invest more. That will alleviate fear and anxiety around money, right? Not necessarily.
When Rockefeller was asked about how much money was enough he said, “Just a little bit more.” That’s coming from someone who was today’s equivalent of a multi billionaire. Someone who had more money than any one person could ever need.
I think a lot of us are guilty of that too. We think and says things like:
- Just a little more
- I’ll be set when I have X amount
- One more year of work
- I’ll delay pulling from retirement accounts 18 more months
Statements and thoughts like these are logical, but they are also fear based. Fear of running out, being left without resources, of not having enough.
The Solution
Increasing your knowledge and skills is the antidote to money fears. If your skills and knowledge are at high levels, you can weather any kind of storm. A bad economy, a drop in your stock portfolio, less return on your investments, etc.
It may be uncomfortable and a little scary but the person who keeps their skills up will be able to make it through tough times.
Equally important, developing and honing your skills gives you the confidence and sense of security that you can handle anything.
