Greed

Many of my clients have expressed concerns about the big changes put in place by the government and the state of the world economy. To be honest, I’m concerned too. My biggest concerns come from seeing the lack of ethical behavior and greed that permeates throughout the American economy and the world

A few years back, I read an article that said “The Top 25 major baseball players will make an average of $19 million this year.” The year prior to that, the Top 25 hedge fund managers each made an average of $1 billion. (source: Absolute Return, Major League Baseball) I haven’t checked this years’ income stats but I’d imagine its even more now.

Let’s put this into perspective. One billion dollars is 1,000 million. Hedge fund managers got a million dollars ONE THOUSAND times over for one year of work. Is that unethical? Is that greedy? You decide.

I’m certainly not one to pass judgment on how much someone earns. But, the incomes of these athletes and fund managers do raise an important point about human weakness: we are all susceptible to greed. That desire to want more, to be more, is, in some ways, built into us. Its our duty, however, to make sure this part of us doesn’t take over and forgo all the most important things (people) in our lives.

A state senator once said, “There is nobody in this country who got rich on their own.” One way we can ensure that we continue to grow without letting greed take over, is to remember that other people helped get us there. Your family, your friends, your co-workers and countless others…they all contributed to helping you get where you are now.

Mentors can help, too. Throughout my life, I’ve had several mentors and I continue to seek out people who can help me stay focused, keep me going in a positive direction, and make sure I never stop being grateful.

Let’s hope our country’s hedge fund managers are taking that advice, too.