One of the most important studies ever conducted on human interactions with money, wealth, and retirement was undertaken in 1968 and it involved mice.
Imagine you had a time machine. You could go back in time and change anything you wanted. A past mistake could be erased, a missed opportunity taken, a relationship saved. If I had such a time machine I would change nothing. I would leave everything exactly as it happened, including all the regrets.
A popular attitude suggests many people would go back in time and kill Adolf Hitler before he committed his crimes against humanity. I wouldn’t. I would let the approximately 60 million people died; I would allow the gas chambers to continue.
Why would I pass a chance to save all those people? Am I really that cold? No, I am not that cold, but I do know everything happens for a reason. If Hitler didn’t do what he did more than a billion people could have died and the human race sent back to the Stone Age.
Imagine a time machine existed allowing anyone to go back and kill Hitler before the nightmare began. Imagine someone bumped off little Adolf when he was a wee tyke. How would human history have evolved differently.
A thought experiment: Why do you want money? What drives you to attain financial independence? Why is retirement such a powerful draw? Think about these questions before you read on. I want you to really understand why you do the things you do when it comes to money. Think about what money does for you.
Readers here already understand they don’t want the headline. Money, in and of itself, is worthless. It is paper with inked pictures of deceased individuals. So what. But money also symbolizes something. Money is how we trade value when we are not bartering. Because money is a store of value until needed, we can do things with money impossible with barter. Money can earn a profit. I guess you could barter for seeds. Then you could create some of the characteristics of money if you farm. Still, money is a tool, nothing more.