What's In a Name?

Do you listen to the speeches about the economy? It grates every time when a politician says millionaire in one sentence and high income earner in the next. Seriously, pay close attention to the next speech - Republican or Democrat. Occupy Wall Street protested against highly paid bankers while citing the statistic that 50% of the wealth belongs to 1% of the population. Even the talk radio host I listen to on the way home does it daily. And I like (aka learn from) what he says. Yet I continue hearing this lie. Say a lie often enough and people think that it's the truth.

Gut Reaction: Lie? Wait a minute, what lie?

Yes - it's a lie. Millionaire and high income do not mean the same thing. Millionaire refers to a person with $1 million or more net worth. Net worth has nothing to do with your income.

Gut Reaction: Potato, potato. Does the difference really matter?

Yes. Okay, let's imagine for a minute that the politicians are right. It really takes a huge, six figure salary plus obscene bonuses to become a millionaire. Getting that kind of gig means you know somebody. You, hard working middle class person, will never become a millionaire by yourself. To get more, you need help. So who's going to help little old you?

And in steps the politicians. Give them your submission and they will give you the money. You need them. You cannot do this on your own.

Now imagine the opposite - there is a difference. You become a millionaire by saving money. You sock away a little bit every month over 30 years letting it grow and grow. This scenario requires no special knowledge. It depends on your character, not a politician.

So yes, the difference does matter. It all starts with whether you have hope or despair. Hope comes from power. With hope, I know that I can change the world. I will become a millionaire. The goal is in my power. Net worth grows with hard work, discipline (saving), and divine blessing. Who I am shapes the world around me.

With despair, I can never reach such a lofty goal. If I can't, then those people who do must have some special power. And it must be evil, because I'm good and I can't. They don't deserve good fortune. Dumb luck.

I read a great book called Leadership and Self Deception: Getting Out of the Box. This book posits that we choose first and justify second. (That's a very shallow summary. Read the whole book. It's worth your time.) That is what I'm saying. I choose hope or despair. Then my economic view becomes what justifies my choice.

Now our conversation shifts from money to character. Hope (or despair) rises from our character - who we are at our core. All of the arguing over money hides the real issue - who am I? And do I really want to know?