What Leonardo DiCaprio and I Have In Common
I don’t believe in regrets but if I did, I think that my first regret of 2014 would be that I spent two hours of my life watching last night’s Golden Globes.
Nonetheless, I did hang around long enough to see Leonardo DiCaprio win Best Actor for his role in The Wolf of Wall Street. I haven’t seen the film but I know it’s generally about a New York stockbroker in the 1990s named Jordan Belfort, who eventually becomes uber wealthy– and uber corrupt –by engaging in securities fraud.
Wait, was that the 1990s or 2008?
This is the kind of movie critics love to hate. Not just movie critics, but critics of Wall Street and America’s money culture. Indeed, after the film came out, I couldn’t look at my phone without another headline about how little has changed on Wall Street. . . that in many ways, despite Dodd-Frank and new securities regulations, investment fraud is still ubiquitous. Let the buyer beware.
But wherever you stand on that Main Street vs. Wall Street debate, let’s be clear. Money itself is not bad, it’s neutral. People make money corrupt, not the other way around.
Clearly, whether we’re talking about Jordan Belfort in the 1990s, Enron’s Kenneth Lay in 2001 or Bernie Madoff in 2008, it’s the deeply engrained stories that these very real characters told themselves about money that led to their immorality. They all used money as a way of filling a void in themselves that eventually became insatiable and addictive.
The Wolf of Wall Street is obviously an extreme example. But in many respects, the essence of the kind of thinking and behavior portrayed by Mr. DiCaprio’s Golden Globe winning performance is actually quite common. You may not be hosting hedonistic pool parties at the Hamptons with Margot Robbie and Jonah Hill (and if you are, please call me)… but can money still be playing an unhealthy role in your life?
Unhealthy thoughts about money can come out in the form of excessive greed and moral corruption, like what happened to the corporate execs and bankers above. But they can also take on many other forms, some that are more subtle yet can still wreak havoc on your ability to see money’s role in your life clearly. For example, your thoughts about money may come out as:
Nonetheless, I did hang around long enough to see Leonardo DiCaprio win Best Actor for his role in The Wolf of Wall Street. I haven’t seen the film but I know it’s generally about a New York stockbroker in the 1990s named Jordan Belfort, who eventually becomes uber wealthy– and uber corrupt –by engaging in securities fraud.
Wait, was that the 1990s or 2008?
This is the kind of movie critics love to hate. Not just movie critics, but critics of Wall Street and America’s money culture. Indeed, after the film came out, I couldn’t look at my phone without another headline about how little has changed on Wall Street. . . that in many ways, despite Dodd-Frank and new securities regulations, investment fraud is still ubiquitous. Let the buyer beware.
But wherever you stand on that Main Street vs. Wall Street debate, let’s be clear. Money itself is not bad, it’s neutral. People make money corrupt, not the other way around.
Clearly, whether we’re talking about Jordan Belfort in the 1990s, Enron’s Kenneth Lay in 2001 or Bernie Madoff in 2008, it’s the deeply engrained stories that these very real characters told themselves about money that led to their immorality. They all used money as a way of filling a void in themselves that eventually became insatiable and addictive.
The Wolf of Wall Street is obviously an extreme example. But in many respects, the essence of the kind of thinking and behavior portrayed by Mr. DiCaprio’s Golden Globe winning performance is actually quite common. You may not be hosting hedonistic pool parties at the Hamptons with Margot Robbie and Jonah Hill (and if you are, please call me)… but can money still be playing an unhealthy role in your life?
Unhealthy thoughts about money can come out in the form of excessive greed and moral corruption, like what happened to the corporate execs and bankers above. But they can also take on many other forms, some that are more subtle yet can still wreak havoc on your ability to see money’s role in your life clearly. For example, your thoughts about money may come out as:
- A sense of constant lack: Purchasing items that you’re not sure you can afford
- A reliance on external validation: Using your income or a new client to validate your self-worth
- A gnawing jealousy: Comparing yourself against someone else’s perceived net worth to determine where you “stand”
Here’s a quick exercise. Spend the next week checking in with how you are feeling whenever money comes into or flows out of your life. Generally speaking, unhealthy money thoughts and behaviors stem from feelings of FEAR and SCARCITY; while healthy money thoughts are rooted in feelings of LOVE and ABUNDANCE.
Don’t worry. I am not suggesting that we are all headed toward corruption and depravity. But beginning to be aware of the role money plays in your life is the first step to keeping your own wolves at bay. You may not win any Golden Globes for it, but it’s a great start.
Take control of your money today by signing up for a Strategy Session at jennifer@redbirdpartners.com.