In this episode, I talk with Dr. George Alexander of galexander.com.au about how to amass wealth… and be truly happy once you get it.
George has a PhD in History, ran a head-hunting business in New York City, and is an active Professor who teaches business in Australia for the last 14 years.
Today, he’s going to share with you 2 concepts that will help you attain true happiness and wealth.
By the end of this, my goal is that you will be able to see for yourself what you really want and need in order to be happy and wealthy.
The First Concept To Unlocking The Key To True Happiness Is Defining What You NEED…
George says that you can forget about everything he has to say if you only remember these 2 concepts. Because understanding these 2 concepts will give you the key to happiness.
The 2 concepts are Needs and Wants.
Understanding what you need and want in order to be happy.
Every single human action that takes place on this earth is motivated by our desire to fulfill a need or a want.
A Need is something you must have (water, food, shelter, homeless people covering themselves with newspaper)
What people perceive their needs is dependent upon where in the country or world they live and their standard of living.
Somebody living in Scottsdale, Arizona would NEED a car, air conditioning because without that life becomes difficult. So having a car and air conditioning becomes a need for that person living there.
A woman, however, living in South Sudan who is walking 2 miles every day to collect water to bring back to her family isn’t going to see having a car and air conditioning as a need.
That’s an example of how the standard of living determines what is a need.
The Mistake That People Make When Trying To Find Happiness Is Getting Their Needs And WANTS Mixed Up
Want is something we can live without.
If I’m hungry, I need food and water, that’s a need.
But eating a T-bone steak and drinking red wine is a want — it’s something I can live without.
The issue when you get your needs and wants mixed up.
Henry David Thoreau said it well:
The mass of men lead lives of quiet desperation.
He believes that misplaced value is the cause of unhappiness.
And because we feel a void in our lives, we attempt to fill it with things like money, possessions, and accolades.
That brings up the question of…
Where Does The “void” Come From?
The void comes from a lack of clarity between what we MUST have vs. what we WANT to have in order to be happy.
When we have no clear perception between what the NEEDs and WANTs that are going to provide us happiness, we’ll behave in ways that aren’t “us” in an effort to fill and satisfy that void.
If You’re Not Happy Right Now, Having Money And Nice Cars Won’t Change That
Maybe you will be happy for a few days or a few weeks after buying what most people would consider nice and expensive cars.
But from my experience, that “happiness” in short-term and never lasting.
That’s why if you don’t define what you need and what you want, it’s really hard to be happy. Because as George says, it’s your needs and wants that’s going to provide you your happiness.
You have to define it first.
What About Setting A Goal To “Be Rich”?
George says no.
Say you define rich as $10 million dollars. And say you have 10 million 1 dollar bills. You buy a warehouse and stuff that warehouse full of 10 million 1 dollar bills. Then you padlock the warehouse and walk away.
How much is that money worth?
Yes, there’s potential and you know if you wanted to get something you could, and that’s exactly the point.
Money has no value until you give it away in exchange for something that fulfills a need or a want.
So to set a goal of being rich is not a goal towards being happy. It’s defining what you want and what you need. Because what You’ll Find Is That You Don’t Actually Have To Become A Millionaire To satisfy your wants and needs.
The Secret To Amassing Maximum Wealth
First thing is to understand that every action we take in this world is either to fulfill a need or to satisfy a want.
The second thing to understand is that the more outwardly focused you are on helping others satisfy their needs and wants (instead of what your needs and wants are) the more money you’ll earn and the happier you’ll become.
How many people’s needs and wants are you satisfying right now?
How many would you like to be satisfying?
To Know and Not To Do Is Really Not To Know… So Here Are Your Action Items from this episode:
- Define what you need and want in order to be happy (this really takes some thought so don’t skip it).
- Forget about yourself and start thinking about the needs and wants of other people.
- Do just 1 thing this week to give without expecting anything in return.
- Let me know how it goes by leaving a comment below or contacting me here.