Your Money Or Your Life
September 24, 2008 by Akemi
Stay sane in the insane time
So last week, we saw financial news of the historic level. News and blog articles that warn people to prepare for the worst, to have plan B, or C, were everywhere. (Photo by mygothlaundry)
In the local newspaper, I read about a man, a retired business owner, demanding to cash out $50,000 at the bank. He refused cashier’s check and wanted greenbacks, saying “I don’t trust anything in paper nowadays.”
Did you recognize the two signs of insanity in this story? One, greenbacks is just another stack of printed paper, and I don’t see why it is more reliable than bank checks (within the FDIC insured amount.) Two, far more critically, he is confusing what is really important.
What I learned about money and life in my bank job
My first full-time job in America was with a big bank (now part of JP Morgan Chase) as international banking coordinator. This was a very educational job. I learned the basics of customer service and sales. I also learned a lot about money and life. One lesson was simple and straight: In this country, people get killed for a few hundred dollars. Really. So don’t carry it around if you care about your life.
My department was in a downtown high-rise and the banking center on the first floor got robed a few times a year. Not that we ever had death or injury. The bank would definitely choose lives of its employees and customers over losing some cash, which was usually no more than a handful.
I really hope this man is still alive. With or without his $50K cash. (The news article had his full name and some more personal info, like the company he had, so it would be easy if someone wanted to locate him . . .)
How to stay sane by being aware of what is important in your life
This writing may be showing how sad I was. The US government is printing more and more money, and the value of the dollar is falling (this is why I say greenbacks are no better than bank checks – I bought some silver ETF by the way). But this is not why I am sad. I’m sad because so many people don’t know what is important in their lives.
Life is more important than money. Money is good so far as it lets us enjoy life.
Money comes and goes, which is the only way money makes sense. The greenbacks don’t have any intrinsic value – what it can buy has values. And we buy because we are alive.
So you are alive and reading this post. Beyond safety, what is important in your life? Go ahead and actually write them down. Awareness of what is important in life can keep you sane.
Turn your bad news into blessing in disguise
I’m also starting to think this financial downturn can be a blessing in disguise. I mean, if it lets you review your life and its priorities, you can turn it into a blessing in disguise. We all will die sooner or later, and I believe the value of life is more about the awareness we live with rather than the length of life.
As I write, I’m biting an apple – a new crop, full of sweet-tart smell and juice. This is good. And I have my own business – not because it’s a quick and easy way to make money, not because it’s everyone’s dream to be her own boss, but because I believe in myself and in what I do, and because I like helping people. And it lets me buy local apples. Very good.
Again, what is important for you in your life? And how do you see the financial news?
No related posts.
By crisis, we are defined. Soldiers routinely report that they have never felt more alive than when in combat, because so much is at personal risk. Some thrive on and miss the intensity (adrenaline?). If you have valued your bank account balance above all else, this financial situation is now your crisis. You could look upon it as a gift – the opportunity to re-set priorities.
What matters most? This moment, who is beside you, and being of use. My father’s perspective is with me always: what will you remember as your life slips away? I choose my son’s first steps, a comment from my daughter, my husband’s eyes, and a phrase or two that I have written. It is blessedly enough.
Akemi, I love the subtle, wholesome defiance in your posts. To me, a warm cup of cocoa is important in my life. With a warm cup of cocoa, I can sit quietly at my desk to meditate on my good fortune. With a warm cup of cocoa, I can enjoy the fact of being alive to its taste, aroma, and texture. With a warm cup of cocoa, I can receive intuitive guidance in the silence of my peace about what to do in the day to come. The financial crisis is a wake-up call. When too many people fail to spend within their means, and then try to compensate with ever increasing debt, someone somewhere will have to pay. It now appears that everyone will have to pay for everyones else’s indulgence. Call it collective justice on a grand scale. A blessing in disguise? Yes, I think so. The crisis will compel us to cooperate, to find other currencies with which to exchange our goods and services. I believe it’s time to polish up our social skills.
Christopher
Great post and great insight. We do need to check our priorities often but especially when things seem so out of control.
Andrew Schaefers last blog post..Second shooting…
Betsy,
Hi welcome. I checked your blog — interesting. I like the photo a lot. You seem to know some of the most beautiful area in the US.
Christopher,
I’m not so sure if my defiance is so subtle . . . I think some people think I’m arrogant or something because I don’t bend over. Well, that is essentially their problem, but I guess it pays to learn not to appear too abrasive . . . am I learning?
Enjoy your hot cocoa.
Andrew,
Oh, another great photographer is here! Thanks for stopping by.
What’s important to me is my wife, kids, and grandkids and enjoying my retirement while I have the opportunity, just in case I end up having to go back to work. When I retired early last year, I was concerned about the way it looked like things were going to go. I was tempted to not retire, but, because of various factors, that wasn’t a good option, so I retired anyway.
How do I see the financial news? I primarily see it just in passing. We are traveling right now and getting good reception for the morning TV shows or the evening news is hit and miss. We listen to music from my ipod as we travel and haven’t picked up many papers, so we haven’t heard or read much news. We’ll be home in a week or two and I’ll check with my financial guy to see how we’re sitting, but I’m not going to worry about it too much, though I did write a little piece about being just a tad upset: we did everything right…, and now we may have to pay anyway.
Mike Goads last blog post..More from a wet and soggy farmer’s market…,
Akemi, if your current post is anything to go by (and I believe it is), then I’d say you’re learning not to seem/ sound/ appear too abrasive. I know that English is not your first language, and so I’d be very forgiving if you did seem arrogant or abrasive. As I’m sure you already know, fluency with a language is one thing; cultural fluency is another. I know without a doubt that I’d be very hard pressed to pick up all of the subleties of Japanese culture connected to the Japanese language.
Christopher
What a great way to look at the current economic situation, Akemi, as a blessing in disguise. Yes, it is a good time to go inwards and reconsider priorities, not only for individuals, but for businesses too – what is really important, what is sustainable?
There is a rhythm and flow to life, and sometimes we end up making choices that put us out of alignment with this… but we can choose again and we can choose differently.
(Living in the country now, I’m interested to see first-hand the natural rhythms – a time to sow and a time to reap. Ironically, now seems to be the time to spread manure all over the fields….
).
Hi Akemi – I’m laughing – I was also eating an apple as I read this post.
Thay guy must have been crazy to take so much cash. My bank don’t like you to take out more than £1000 in cash unless you call first.
When one of the banks were in financial troubles here, people were queuing outside to close their accounts. People panic I guess.
It is frightening that people will kill for such small amounts. I wonder what makes people do that? Are they really so desperate, or are they bad people anyway?
A few weeks ago, a couple from the UK were on their honeymoon in Antigua and they were murdered for a few small items – something like a camera and video camera.
You are right Akemi – hopefully this financial crisis will make people appreciate the important things in life. But in this material world, I’m not so sure that the majority will.
Mike,
Feel for you. Enjoy your trip.
Christopher,
Thank you for your kind feedback.
Mags,
I love that music in nature! Although I may not be much in working in the field spreading manure . . .
Cath,
Usually, bank branches simply don’t have so much cash. That guy definitely had to wait for a long long time. For safety, they make sure the branches carry only so much cash, and even in that branch, they make sure each teller has only a few hundred dollars at any given time.
And banks as a whole only reserve a few % of its money in cash — the legally required minimum reserve – everything else are invested. That is why they got so nervous at Y2K and people taking out cash all at once in panic.
I was working in the bank then, and we knew if all customers took out $100 cash, we’d be busted. (Again this is a big bank, at the time 7th in US, I think)
I don’t know about the violet crimes — I guess there are often drugs involved. It makes me really sad to hear those news.
Hi Akemi,
What you said made a lot of sense … and it applies beyond this economic crisis. I believe there is always a flip side and a learning that accompanies every situation.
About the news report on the man with 50k cash … why on earth would the papers be listing down all his particulars?? I guess some things I’ll never understand. :p
Irene,
I know. I was surprised that the newspaper did it, when privacy is such a big concern anyway. Even if the guy volunteers to be on the paper with all his personal info, if I were the reporter, I wouldn’t have done it this way.
The news, whether about the economy, war, or whatever, is a big distraction from what’s important in life. You notice that the news seldom focuses on people who are succeeding in spite of or sometimes even because of these things.
I don’t think we should ignore the news, but we should not let it define us. We still get to choose how we react and respond to what happens in the world.
My daughter who lives in San Francisco Bay area told me tha there were 3 suicide attempts in one week–two successful, one failed–on the tracks of Bart (the underground train.) The train was delayed for busy commuters while the police/paramedics dealt with these tragedies.
I wonder how many of the three made things better with their deaths. The one who survived is certainly in a worse place with an injured body and spirit.
When we react with panic to the external circumstances bad things typically result.
I’m very happy with my life and refuse to let outside circumstances derail me. I retired last year from a gratifying teaching career and when I’m not traveling, lunching with friends or going to the theater, my favorite place is my patio on a slightly cool sunny day, like today. With my laptop and a cup of coffee I can write blog posts, create and maintain websites, correspond with friends and work on my upcoming book.
Flora,
Excellent point! The news is just news — they only report what sells, which is usually bad news.
My business is flourishing anyway. Let’s enjoy the quiet time under the tree.
[...] Akemi Gaines explains in this article – money can be dangerous. We’re living in a world where people die for a few hundred dollars and often a lot [...]
Hi Akemi, just thought to say that in Malaysia, people get killed for USD21….thats how bad the crime rate and desperation of people can be. http://thestar.com.my/news/story.asp?file=/2008/9/30/nation/2150705&sec=nation I agree with your post, to analyse whats important in my life vs money….money is a tool for us to buy more ‘value’ into our lives..and we do need the tool, no denying that but we should remember its just a tool.