Ask HN: How to stop my greed for money?

77 points by throwaway435341 ↗ HN
I make an average living (low six figures, have savings, house, no loan, etc) but for the last 2-3 years my greed for money has been unstoppable.

I keep reading about these people who are making millions of dollars and I want to be like them too. It is turning into an obsession. I used to love what I do but now it's all about money.

Every minute I'm not working is me not working towards my goal. I'm either working or criticizing myself for not working.

It is making me very unhappy and I realize that it's all because of this stupid obsession but I just can't shake it. It's not just greed but I'm also scared because I feel if I don't make a lot of money now I will miss my chance and I will be poor when I'm old (it's not 100% true since I have good savings but this thought keeps bugging me over and over).

Anyone else feel the same? Any word of advice?

:(

79 comments

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Figure out what money is for, and spend on it.
Give some money away, even if it's a little bit.

In certain circles this is called creating an "abundance mentality," [1]. When you get rid of something that you're worried about not having enough of, it trains your brain to not worry so much about having the thing.

[1] https://www.positivityblog.com/how-to-create-an-abundance-me...

I wonder if that works on the most important currency of all - time.
Yes, it works for me. Set a timer for 10 minutes and commit to doing nothing until the timer runs out, and you will feel a lot less rushed.
For me it was (is) just about the status and feelings of accomplishment compared to others.

Try to get your self worth from something else. (Easier said than done in this society!)

Go to a therapist. A money hoarder is the worst kind of hoarder, since it's basically encouraged by society, but it's really damaging to both the hoarder and the people around them. Destroys famillies, etc, etc. Your money thing is probably, like ordinary hoarding, a sublimated form of anxiety.
I disagree - sortof. "money-hoarding" is very useful - money lets you do all manner of fun things. If you're not sure what you want - hoarding money is a pretty good thing to do in the meantime. If nothing else you'll be able to spend it on therapy :) But, should ultimately be a means to an end. You are going to die, you can't take it with you - decide what you want from your finite life, and tie the money to what you can do with it.
>I disagree - sortof. "money-hoarding" is very useful - money lets you do all manner of fun things.

That's exactly the dangerous thing about it. I'm a minor hoarder of electronic components, and I'd probably be a pathological case if my wife didn't stop me. It's precisely the potential future usefulness that keeps me piling our basement full of old washing machine motors and garage-door solenoids.

Oh, you should see the stuff I've got - all the wires, apart from the one I need. Fortunately money doesn't take up that much space (and can be used to buy old solenoids when you ACTUALLY need one). (although I fully agree the transactional costs of selling/buying mean you should at least keep a few spares to hand).
First, realize that you're probably making at least double the median US income. If you have a house with no loan and that income, you're doing way, way, way better than average.

I see two possible paths forward.

The less likely is to read and internalize http://www.mrmoneymustache.com/2012/01/13/the-shockingly-sim... and realize how quickly you can reach financial independence at a reduced spending level (but one that still affords an amazing life). Buying time is the most valuable use of money, IMO.

The second is to stay miserable for a while, striving for something ambiguous yet out of reach, until you get older and this feeling fades.

Path #1 (or a variant) is probably healthier and happier.

in my experience, knowing that you're doing better than average doesn't help this mindset. OP craves money, and an excess of success. Unless you fought for a long time to get out of the "average" bracket (which many software engineers haven't had to do), it's easy to just want more and more.

Also I have mixed feelings towards recommending the Mustachian community to OP. FI might help quench a thirst for money, but it also might just augment or exacerbate the obsession with accumulating money.

Personally, I see this problem as more of a philosophical one. I can't offer answers, but as someone who also has to consciously fight off obsession with money, practicing mindfulness, living in the moment, and finding joy in relationships and other "free", meaningful things helps. idk ¯\_(ツ)_/¯

I have a related question but from a different situation. In throes my job hunting, I described my job search and overall work experience, and someone pared down to conclusion to, I am fetishizing having a job too much.

If I am truly doing this, can that still be rationalized even when I am very underemployed?

While I won't bog you down on the details, I have a really patchy work history created by frequent layoffs. This created a lot of unemployment time, taking up about a quarter of my post-academic life. On top of that, I am very underpaid for a developer (~40% of the local average pay) so I often struggle making ends meet when I'm out of a job.

I feel pressured from many sides thinking of many possible solutions to choose.

This won't necessarily "stop your greed," but I'm a big fan of Jim Harrison's "In Search of Small Gods," particularly the poem "Quarters."

Quarters

--------------

"Maybe the problem is that I got involved with the wrong crowd of gods when I was seven. At first they weren't harmful and only showed themselves as fish, birds, especially herons and loons, turtles, a bobcat and a small bear, but not deer and rabbits who only offered themselves as food. And maybe I spent too much time inside the water of lakes and rivers. Underwater seemed like the safest church I could go to. And sleeping outside that young might have seeped too much dark into my brain and bones. It was not for me to ever recover. The other day I found a quarter in the driveway I lost at the Mecosta State Fair in 1947 and missed out on five rides including the Ferris wheel and the Tilt-A-Whirl. I sat in anger for hours in the bull barn mourning my lost quarter on which the entire tragic history of earth is written. I looked up into the holes of the bulls' massive noses and at the brass rings puncturing their noses which allowed them to be led. It would have been an easier life if I had allowed a ring in my nose but so many years later I still find the spore of the gods here and there but never in the vicinity of quarters."

"I just can't shake it" - how do you know that?
Do a bit of volunteer work for people who are far less fortunate. You’ll start to appreciate what you have and maybe start to reset your priorities and perspective.
Contemplate your own mortality
I read a book recently called Beyon Anger. You fall into the “whiner angry man” category. Someone who’s angry and expresses his angriness through compaints and negativity. Usually these people stopped making any progress in life and wait for the world to change, not them. It’s a waste of time and talent.

My best advise would be for you to go chase your dream and to stop complaining too much. If you love money (who doesn’t really?), then work harder to get more.

Didn’t John Mayer sing a song called Waiting for the World to Change?
Give some charity. Do it consistently.
I don’t think you are greedy actually.

You are dissatisfied, yes, but you aren’t making a ton of money.

Your nervous system is just disregulated, talk to a somatic therapist.

Also, try actually making more money and figuring out how to overcome your internal blocks.

The only reliable solution for temptation is to give in to it.

Why not just devote yourself obsessively to getting money?

Either you’ll get it and see what that’s like, or you’ll learn you don’t actually have sufficient drive to do it, or the right skills.

I mean everyone’s got to do something all day. Just make sure to have a set of ethics and values and continue to abide by them during this pursuit.

Physical activity. I.e., start going for a run 3-4 times a week. It's a great way to get your mind off of your troubles.
I know of no more effective tool to adjust perspective than travel. You need to travel more. Perhaps to Trumpian shitholes would be even more effective.

An then do some camping, near and far.

I like to think about my deathbed. We can't take money with us when we die, so what's money for except to live the life we want?

So what do you want out of life? What would you do if you had a billion dollars? What would you do if money weren't a thing at all, and we all got to do whatever we want?

I would still create things. I'd write code. I'd design 3d models. I'd write. I'd climb mountains, and run on trails. I'd spend time with my family. I'd watch movies. I'd read books.

What would you do? Are you doing any of these things now? If you can identify these kinds of things, and let yourself enjoy them in the moment, you might find yourself not thinking about money for a little while each day.

What is it about the millionaires that makes you want to be one?

Freedom from having a boss? Not having to work? Fast cars? Flash apartments in trendy locations? Bragging rights? Feeling of "winning the game".

Ask yourself honestly will you still have some kind of obsession even if you made millions. Its a cliche the 70 year old billionaire businessperson still working their ass off.

In a nutshell get to know yourself and your motivations. Reflect.

I'm not the OP but I _love_ cars and for me being a millionaire would allow me to enjoy cars properly.

I don't want a garage of Ferraris, McLarens or Lamborghinis. I want a garage of hot hatches, track cars, Caterhams, Lotus', fast coupes: a nice collection of "affordable" fast cars that I grew up aspiring to own.

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If I was in your situation I would start thinking along the following lines.

1. Tell yourself that it is okay to feel uncomfortable. This is uncomfortable feeling that you're not in control, that you're not making enough, that you're going to miss your one shot. This is the first step at reducing the anxiety of it.

2. Start to remove distracting consumptions. Social media, articles, news, etc. Spend time just being with yourself and appreciate the quiet. Put your phone on flight mode at night and charge it in a different room, get enough sleep.

3. Expose yourself to new perspectives. I have found the following audio books to be instrumental is figuring out how to be happier without greed:

a) A Guide to the Good Life: The Ancient Art of Stoic Joy

b) Man's Search for Meaning

c) The Power of Now (I'm only about 1 hour into this one, but it's made me think)

4. Start a new routine to break the habit of your current ways of thinking.

5. Meditate to help you regain control of your reactions - become reaction aware.

6. Don't look for whole solutions, progress happens in tiny steps and just keep exploring new ways to approach how you feel, how you motivate, how you enjoy the today. Sometimes it's the smaller things that have more profound effects.

7. Start measuring your progress in years, derived by small daily improvements.

I appreciate the above advice might not be for everyone, but it's something I'm going down and enjoying it very much. You already reached a fundamental point, to bring out of your subconscious how you really feel. Now you can consciously reprogram how you want to feel. Well done!

Start traveling. It will give you a lot of different perspective on how big the world is and what an abstract thing is the concept of money.
I completely agree. You must travel! It's a cliche but it's true: the happiest people are those who live in poorer but highly social communities. Think, latin America and south east Asia. Try southern Mexico, Belize, Peru, Ecuador, Vietnam, Thailand, Laos, Cambodia - you won't regret it for a moment.

But don't stay in a resort: find a high-rated AirBnB with a local host where you feel safe (all of those countries have very safe areas to travel through) and get to know the pace of life for a few days. Personally I find I need 10 days in one place to feel like it's familiar and I can start to understand the rhythms. Visit the local markets and restaurants, stay away from the multinationals like Starbucks and the tourist blackholes like Cancun.

I know for Americans time is valuable, but even a few days flying as far south as you can get will be insightful and energising.

> the happiest people are those who live in poorer but highly social communities. Think, latin America and south east Asia. Try southern Mexico, Belize, Peru, Ecuador, Vietnam, Thailand, Laos, Cambodia

I'm highly sceptical of it. If they're so happy, why so many of people in those countries make desperate efforts to emigrate to a developed country?

I didn't mean to sound glib. Of course not all communities are happy - many are deeply impoverished, overrun with cartels or politic issues, suffering from scarce resources whether from politics or weather-related issues. There is a massive difference between a lower-middle class neighbourhood in Mexico City and a poor village in Honduras where there is no education, jobs or security. The mass immigration isn't happening from areas where people are safe and comfortable, it's happening in places stricken by war for so long that people are desperate. Most people don't want to leave their families, their friends, their communities and culture. So yes, there are amazing parts of the world where in the same country there are people trying to emigrate due to bad circumstance, and those who are truly happy with what they have.
The trick is to realize that most money is made accidentally and anyone telling you how they did it is ignoring luck. For every 30 year old multimillionaire, there are 2-300 more who did exactly the same as they did, but one got lucky.
>I make an average living (low six figures,

I make 33k a year...

You say you keep reading about all the people making millions. I suggest you think and read about 99% of people of the world poorer than you - who live in war torn countries with brutal dictators, who have to walk miles to get water, who don't have enough money to feed their children. Then you will realize how lucky and privileged you are to be making a six figure salary in a peaceful country (I am assuming you live in a peaceful country here). That would help curb your greed. Money is a mirage, the amount you want always seems just out of reach and you keep running after it. After a certain point it has diminishing happiness returns (if you earn a six figure salary in dollars/euros/pounds) you have reached that level already. You should feel lucky and enjoy other things like your hobbies. People who make very less money don't have the luxury to enjoy their hobbies. Realize how lucky you are and it will change the way you view life and money.