Short-Term Wealth Brings Long-Term Identity Crisis On An Entrepreneur

When someone accumulates wealth at a young age through equal parts of hard work and luck, they start going through an identity crisis.

The reason being that we live in an outcome focused society where the value of the journey is computed based on where the destination is at. And, since for most young first-time millionaires the destination is money itself, the journey after an early accumulation of wealth stops to feel rewarding.

Short-Term Wealth Brings Long-Term Identity Crisis On An Entrepreneur

Here’s an example:

If you have 10 crores in your bank account, working as an average tech consultant for a foreign company brings you 1 crore every year. Not much addition of total wealth over the year.

If you leave 10 crores in a Fixed Deposit account with a 10-12% interest rate, it brings you the same 1 crore every year without any labor.

Do both of them together, you still make only 2 crores which is relatively only 20% of your total wealth.

Why work at all?

I don’t know the answer on how to handle such an identity crisis state but it probably lies in doing things of purpose from a young age where you consciously train yourself to compute the value of your journey based on lives impacted rather than wealth accumulated.

In essence, how you make your first 10 crores is important for the future you who holds that 10 crores in his/her bank account.

Take measures to not let that identity crisis come in when you do acquire that amount of wealth.

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