By David Saviola, Arborbrook Financial
There is a significant public discussion right now on topics like minimum wage, redistribution of wealth, improving work conditions, pay for employees, etc. “The Great Resignation,” as many have dubbed the situation, has many speculating what the root causes are and how to fix them.
Study after study has shown that the majority of us have a belief that having just a bit more money will solve any problems—20% percent more to be specific. Recent studies released from Penn’s Wharton School even claim that having more income is directly related to happiness, albeit a modest increase.
So, clearly, giving everyone a raise will solve all our problems and we can just move on to whatever is next, right? Just typing that phrase out as a suggestion made me chuckle inside; that’s how silly of an idea it is. You probably had a similar reaction reading it. Well then, what is the answer?
The answer is wisdom. I’m almost embarrassed to say that it took me over a dozen years of advising people to realize that any value in what we ever did came down to that one word. Information and knowledge are easy to obtain today, and everyone has nearly instant access via a smartphone or tablet. However, the ability to receive wise counsel when it comes to handling our money has the perception of being limited to those that have surplus to invest or need to purchase a financial product of some sort. This lack of access to wise counsel has left millions of us vulnerable to believe lies like more money will always solve our problems.
King Solomon, the wisest and richest man to date, knew this a long time ago and encouraged us repeatedly about the importance of wise counsel and advice in our lives. Most pointedly, he said “How much better to get wisdom than gold! To get understanding is to be chosen rather than silver” (Proverbs 16).
If you are a business owner reading this, chances are you have your own set of advisors and I implore you to consider the fruit that would be produced by your employees having access to that same level of wise counsel. If you are an employee on any sort of team, think about bringing this idea up at your workplace. In both situations, we would be honored to help as we have with so many others.
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