Dave Lukas - Lessons for Hannah
55: Lessons for Hannah: Money and Wealth
Hello Misfit Nation! Welcome to another edition of "Lessons for Hannah!"
In November of 2016, we introduced a new format that we are putting alongside our regular episodes called “Lessons for Hannah.” Hannah is my daughter and one of the main inspirations for the Misfit Entrepreneur. I wanted to have a place where she could go and learn from her daddy and his Misfit friends throughout her life….even after I am gone. If you haven’t listened to the first episode of "Lessons for Hannah," I urge you to as it gives some more background and tells the amazing story of how Hannah came to be in our lives.
"Lessons for Hannah" are short, very useful, and sometimes comical lessons, that I have learned which I want to share with you and give to Hannah to help in your lives. Because I want Hannah to have these for her life, I’m going to speak as though I am talking directly to her. These episodes are a lot of fun and if you think there is a lesson that we should include in these episodes, please don’t hesitate to send it over to us at firstname.lastname@example.org. We’d love to share it.
This week’s Lesson for Hannah
Hey kiddo, I want to talk to you about money and wealth. I want to start by saying that by the time you hear this you may have heard someone say “Money is the root of all evil.” They are wrong. The actual quote is “the LOVE of money is the root of evil.” And that I would agree with. If you put money above all else - family, love, relationships, doing the right thing, integrity and the like – it is a form of evil and it tortures the soul. And sadly, those that do make money their obsession and the accumulation of it their sole purpose, actually become a slave to it. They may even have a lot of money, but like a drug they thirst for more and let it control them. In their pursuit of freedom they actually end up having no freedom at all.
Money is an amazing thing. It can allow you to do so much. It can allow you to help a friend in their darkest time, support causes, provide for someone in need, and enjoy amazing experiences throughout life and throughout the world. Does more money make someone happy? Yes, but part of that is a matter of perspective. I have had times in my life where I had very little money and worked 18 hours a day for the very little that I had. And fortunately, nowadays, we have enough that we can do most things we want to. Am I happier now than when I could barely afford to sleep on a mattress on the floor in a crappy apartment? Absolutely. Did going through that experience prepare me and give me a better appreciation of money and wealth. You bet.
But here is the thing…and it is something most people never realize. Money is just an idea. Money can be printed out of thin air and money can actually “grow on trees.” Confused? Think about this. You can sit down at a computer and write a book and have it up on Amazon for free, as well as a number of other websites in no time and sell it. You just created money out of thin air….from an idea. You can plant a garden and then go sell the fruits and vegetables at the local farmer’s market or at a roadside stand creating money that grew on trees. This podcast started with an idea and creates money from our amazing sponsors who believe in us and Misfit Nation.
The majority of the world comes from a place of scarcity believing there is very little money available when the complete opposite is true. There is an absolute abundance of money out there in the world. You will hear people say that the majority of wealth is concentrated in the hands of the rich…the 1%, and that they are evil. On the contrary, while there are always a few bad apples in any group, the 1% have figured out that money is an idea and have learned how to print it in various forms. People complaining about it should be studying them and going out and creating their own world of abundance. It can be done and has been done by people from all walks of life and backgrounds. You can do it too.
One of the best ways to create wealth is through entrepreneurship, creating and building businesses, but that doesn’t mean you cannot have a job and do something on the side. It does mean that you need to learn to create wealth from ideas in one or multiple ways. One of the easiest ways to start is by sharing ideas through a medium such as a blog or newsletter, or book, etc. And then you can go up the chain from there where you might create a product or brand. You may be like your daddy and build a technology company. As you begin to create money through these endeavors, you can then learn to build that into greater wealth by learning how to invest it in things such as the stock and bond markets, real estate, investing in other people’s ideas, and growing your own business further.
The thing is that once you begin to build wealth through making money from ideas, you will find that it get easier to do so. You need to commit to never “get stale” and be on the lookout for new ways of creating abundance and where that may lead you. I never could have guessed I’d have the different businesses that I have today, but it happened through being curious and learning what I did not know. That is how new ideas are born.
You can then start to give back through your time, efforts, and money should you choose. You could help teach others how to do what you’ve done and change their lives.
Just understand that money is an idea, that there is a world of abundance out there for you, and be on the lookout for opportunities and you will see them. When you do – act on them and make them happen. I know you will.
I love you, Daddy
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