How Much is Enough?
The juxtaposition of Thanksgiving and want.
It is suggested in the book Escaping the Time Crunch that when John D. Rockefeller was asked “how much is enough?”, he simply replied “one more dollar”. While this could be a mischaracterization of Mr. Rockefeller given its rather tenuous ties to historical fact, it taps into a greater truth embedded in our post-industrialized culture. We all want more. It almost doesn’t even matter whether Rockefeller said it. It feels true.
We can all relate to the sentiment, regardless of how deep our available pocketbook is. Nothing says this more than the painful irony that the biggest shopping day of the year occurs immediately after the day we intentionally set aside to take stock in our good fortune to find contentment. Heck, we don’t even need to wait for Black Friday anymore, this marketing bonanza has now crept throughout the entire week of Thanksgiving.
I could draw comparisons between the Black Friday marketing creep and an infection, but unlike an infection this is something we want. Otherwise, no marketer would engage in these campaigns. It’s good business. The appetite for new products and services is insatiable and we gladly relent to the intoxicating message that happiness can be found in the next acquisition.
The “one more dollar” behavior isn’t just relegated to our consumer behavior; it’s embedded in our career culture and personal ambitions. It’s as American as apple pie and that’s not necessarily a bad thing. The drive for more, if harnessed with a healthy discipline, can propel us to achieve great things.
The very same John D. Rockefeller said the following, “the impression was gaining ground with me that it was a good thing to let the money be my slave and not make myself a slave to money.” This quote has been well documented, unlike its infamous cousin, and is more congruent with his other documented quotes.
Ten Things That Did Not Exist Just 4 Generation Ago
1. Hot running water on demand
2. Air Conditioning
3. Highways & cars
4. Air travel
5. Television & Internet
6. Reliable anesthesia
7. Acetaminophen / ibuprofen
8. Supermarkets
9. Emergency rooms
10. Smashing that like button
It’s easier to understand crude generalities. Even if Mr. Rockefeller did respond “one more dollar” to the question, “how much is enough”, our default interpretation is probably taken out of context. The gut instinct is to find this response repulsively grounded in selfish ambition, absent basic morality.
Humanity is not a zero-sum game, but nor is it a one-to-one positive sum. It’s a bit nuanced. There’s a big difference between someone who saves and invests to benefit everyone around them versus the person that wields their balance sheet like a power weapon. Intention matters.
It doesn’t just matter in the grand “be at one with the universe”, reciprocal karma kind of way. Using your capital to bless people around you is an investment in their humanity. Investments, last time I checked, typically benefit investors disproportionately.
People ask me all the time if they have enough to retire on. It is my job, after all. It’s not an easy question to answer. Technically, the answer is “$0”. It may not be comfortable but it’s the reality most people today in the world are facing.
It reminds me of a response I received from an older client of the firm when we brought up the adage money doesn’t buy happiness. She replied, “yes, I know, but it allows me to choose how I can be miserable.”
While this statement was made in jest, I feel it more accurately captures the mental state of a person that views money through a solipsistic lens. Money cannot always buy happiness because happiness is a temporary mental state purchased by actions that upgrade your relative position in the universe. A poor man dying of thirst can find happiness when finding a glass of water. The richest person on earth can find little happiness in buying a winning lottery ticket.
When do we cross the line and become slaves to money? I believe this line is not crossed with one step but one lonely choice at a time. The more often you choose yourself over those you should love, the wider the relational gulf becomes. With enough neglect, this gulf can become an ocean and no amount of money can buy a single “golden” year
This Thanksgiving, I hope we have all found a moment to take stock of our good fortune and appreciate how we got here. Our lives have been enormously blessed by those who have taken the leap of faith and invested in humanity. Those investors, in turn, were rewarded commensurate with their commitment and intent.
How much is enough? I should also say the answer should be “more”, so long as the intent is virtuous. The human spirit endeavors to achieve.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
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