Bill 3

“The letter I wrote after my son was born said, “You might think you want an expensive car, a fancy watch, and a huge house. But I’m telling you, you don’t. What you want is respect and admiration from other people, and you think having expensive stuff will bring it. It almost never does—especially from the people you want to respect and admire you.” I learned that as a valet, when I began thinking about all the people driving up to the hotel in their Ferraris, watching me gawk. People must gawk everywhere they went, and I’m sure they loved it. I’m sure they felt admired. But did they know I did not care about them, or even notice them? Did they know I was only gawking at the car, and imagining myself in the driver’s seat? Did they buy a Ferrari thinking it would bring them admiration without realizing that I—and likely most others—who are impressed with the car didn’t actually give them, the driver, a moment’s thought? Does this same idea apply to those living in big homes? Almost certainly. Jewelry and clothes? Yep. My point here is not to abandon the pursuit of wealth. Or even fancy cars. I like both. It’s a subtle recognition that people generally aspire to be respected and admired by others, and using money to buy fancy things may bring less of it than you imagine. If respect and admiration are your goal, be careful how you seek it. Humility, kindness, and empathy will bring you more respect than horsepower ever will. We’re not done talking about Ferraris.”
― Morgan Housel, The Psychology of Money