Yahoo Finance ‘$100K Is Not a Lot of Money’ — This 100-Year-Old Money Rule Still Applies Today
Neville Goddard was a metaphysical author and teacher who became well-known for his thoughts about manifesting desires. According to Goddard, you can help bring about the changes you want in your life by envisioning that you have already achieved the end result.
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See: 6 Genius Things All Wealthy People Do With Their Money
In a Reddit post devoted to the teachings and beliefs of Goddard, users discussed how thinking that $100,000 is not a lot of money can be a way to help you manifest having even more. Here’s a look at the philosophy behind the discussion and how you may be able to apply it to your own life.
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Get Out of Your Own Way
In a nutshell, the idea behind “thinking $100,000 isn’t a lot of money” is to simply get out of your own way.
Under the teachings of Goddard and others, believing that $100,000 is a major amount of money can lead to self-limiting actions. In other words, if you think that $100,000 is all the money in the world, two things are likely to happen.
First, you may simply give up trying to achieve it, since it seems to be such a massive amount of money that you are unlikely to ever accumulate it. Second, it can prevent you from taking prudent financial moves that would actually earn you even more. If you’re working your whole life to save $100,000, while you may achieve that, there’s no telling how much more you could have gotten if you set your sights higher.
Learn: How Much Money Do Americans Have in Their Bank Accounts in 2024?
Believing That You Deserve More
If you’re trying to become wealthy, it helps if you believe that you deserve it. If you think wealth is just for some privileged class to which you don’t belong, you won’t likely make productive moves towards accumulating it. Rather, you may simply dismiss the thought as a passing fancy, feeling as if you’re not the type of person that deserves more.
Goddard and those who support his philosophy would consider that type of thinking to be self-limiting. The moral of the story is that with so many obstacles already existing in your life, limiting yourself mentally will almost assuredly prevent you from achieving your goals, financial or otherwise.
The Goddard Viewpoint Expressed Another Way
There have been many philosophers, authors, teachers and financial pundits who have touched on the idea that Goddard espoused. Books like “The Secret” by Rhonda Byrne — and countless others on the topic of manifestation — argue that if you can envision a goal, you’re much more likely to reach it.
While some may take a more mystical angle to the topic, simple psychology shows that if you believe you can achieve something, you tend to take actions that drive you in that direction. If you think that $5 million is a lot of money, for example, you’re more likely to get involved early on in investments and learn more about how to multiply your money faster than if your lifelong goal is simply $100,000 or less.
Caveats to This Approach
Just like most things in life, “too much of a good thing” can apply to Goddard’s philosophy as well. If you’re 20 years old and you’re thinking “I’m entitled to $1 billion,” a few bad things can happen.
First, you will likely end up disappointed, as the likelihood that you will become a billionaire is low. Chasing after $1 billion your entire life could also lead you to taking outsized risks and actually make it less likely that you achieve that goal.
Also, you run the risk of living an entitled life, believing that you are so special that everyone should listen to you, get out of your way and/or shower you with money. In other words, making your life’s sole pursuit the acquisition of $1 billion could actually ruin the quality of life that you lead.
While it’s admirable to “reach for the stars,” trying to manifest something that large can backfire.
The Bottom Line
Whether or not you believe in the spirituality of words like “manifestation,” the truth is that your mindset can play a big role in what you achieve in life. This is particularly true in the financial world.
If you start your work career thinking “only millionaires have 401(k) plans” or “only the rich can afford to invest in real estate,” you may not even try to use those types of vehicles to build long-term wealth. Then, your thoughts become self-fulfilling, as you end up not generating the wealth you wish you had.
Try the simple shift in your mindset and see what it does for your savings strategy — just strive to keep it realistic.
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This article originally appeared on GOBankingRates.com: ‘$100K Is Not a Lot of Money’ — This 100-Year-Old Money Rule Still Applies Today
