What If Money Didn't Matter?
Okay, Yes, I like money. I admit it … Don’t you? And of course, despite the strange title of this essay, money does matter. That is, if you like to eat food, pay the mortgage, or buy clothes for the kids.
What I’m talking about is quite a different idea—namely: What kinds of choices would you be making if you were given the opportunity to not worry about money? In particular, how might your investments differ?
The reason I’m even posing the question is because I believe, in the long run, it’s not enough to make accumulating money your sole priority. While I certainly welcome it and acknowledge it as the pivotal center of my professional interests, I strongly feel an entrepreneur should augment that pursuit with elements of passion that can give investments more meaning.
I’m not talking far-out fantasy, or dramatic shifts in what you might do to make money. Instead, I’m suggesting you start the whole process with examining your interests—what you’re sincerely drawn to—and then seeing if somehow they might sync to investment opportunities.
Can you say you’re putting your money into companies or ventures that you feel passionate about? While it may not always be the case—and it’s probably not always practical—I think it’s something you can strive for.
Yes, on the surface money and passion are two separate things, but I don’t believe they have to always be mutually exclusive. Just because you’re setting a goal of earning some big profit this year or this lifetime, it can potentially work in tandem with bringing some passion into your portfolio.
It’s not a coincidence that I put money into biotech companies. These ventures do amazing work and I take a lot of pride in playing an integral role. Likewise, my investments in renewable energy opportunities and other sustainable ventures are something I sincerely believe in. These are opportunities that I don’t just recognize as profitable, but they represent something about which I have strong feelings.
Commercial real estate, too, is an area in which I not only find monetary worth, but one which generates excitement and interest for me beyond profits.
The fact is that as an investor I’m going to be more fully invested if I’m putting my capital into something I sincerely care about. While I have to remain clear-headed, it certainly helps assuage the risk I feel I’m taking because I believe in my investments.
Next time you’re mulling over an investment plan, maybe you can start by deciding what impassions you and see where that leads ...