Becoming richer than Rockefeller

This is a reprint of an article I wrote for GetRichSlowly a week ago…

John D. Rockefeller founded the Standard Oil company back in 1862. He was also the first to become a billionaire, and was one of the richest men to ever live. I am sure many people today wish they could have walked in his shoes. If, somehow they could, I think some would find it to be eye-opening.

How could I possibly be richer than John D. Rockefeller?

With as wealthy as he was, he could have had anything that money could buy. But what a few hundred dollars may buy today, couldn’t be bought with millions 150 years ago.

Today, we have central heating and air conditioning, cars, planes, Tempur-Pedic mattresses, iPods, and millions of other gadgets. Even Rockefeller in his day couldn’t buy air conditioning. Maybe he had 15 people fanning him on a hot summer’s day (because he could afford it), but I would rather have air conditioning. He probably had chauffeurs to take him by horse and buggy all around town, but I would much rather be riding in a 10 year old Chevy. Wouldn’t you? 

So, if we change the way we think of “wealth” and consider our standard of living and compare it to Rockefeller’s - I would say we are doing pretty good. In fact, I would go as far to say the majority of the U.S. lives an all-around more “comfortable” life than Rockefeller did. Who then, is actually richer?

How much does it take to be happy?

I have heard that if your household annual income is over $50,000, then you are in the top 1% richest in the world. (Find out with this tool)And if we can agree that most of us are living a more comfortable life than a billionaire at the turn of the 20th century, then shouldn’t we be content with what we have?  

Should the fact that someone is living a more comfortable life than we are make us less comfortable? Or couldn’t we be satisfied knowing that we live a more comfortable life than 99% of the world or than the richest man 150 years ago?

And maybe we aren’t complaining - maybe we are just using our credit cards instead? Do we really need all the junk we are buying or are we forgetting how good we actually have it? 

Why not keep up with the Joneses?

So, what is the point with all this? Why spend energy trying to be grateful for the things we have? Why not just try to keep up with the Joneses?

1. Life is far more enjoyable when you are grateful. Grateful people divert their energy to seeing the good things they have been given rather than focusing on what they don’t have. This alone makes them much happier and far more enjoyable to be around.
2. You can save a lot of money. When you are thankful that you have a car rather than having to ride the bus everyday, it makes it a lot easier to break the habit of buying a new car every year. This can apply to anything - HDTV is great, but so is COLOR TV. Remember when that was the new break-through technology?
3. Forgetting about the Joneses can set you free. Doing things to impress and appease other people is a dangerous trap. So many people voluntarily become “puppets” to those they are trying to impress - trading control of their lives for temporary social approval. Having been enslaved by it for years, I suggest forgetting about what the Joneses think. They are overrated anyway.  
4. You can actually ENJOY the things you have.  Everything loses a bit of its appeal as we get used to it. From a new pair of shoes, a brand new car, a spouse, or anything else - they are all exciting while we are anticipating them. But, once we have them for a while, they just aren’t as exciting as they once were. By genuinely appreciating it and focusing on the benefits of it rather than the “greener grass” elsewhere we can truly enjoy what we have.

“It’s not having what you want, It’s wanting what you’ve got.” -Sheryl Crow

I don’t say all this to suggest that we all should live like we are hovering around the poverty line. But, merely to suggest that maybe, just maybe we have it a little bit better than we think.

Regardless, whether you have 60″ HDTV and new BMW or a 19″ Sanyo and a 10 year old Chevy - be grateful. After all, either way Rockefeller would be jealous.

• You don’t deserve it.
• Who needs faith? I’ve got credit cards!
• Showing Your Finances The Light of Day
• Seth Godin’s one piece of financial advice
• Learn to say NO
• How to quit spending more money than you make
• Getting out of Debt (Part 4): Quit spending
• Getting out of Debt (Part 2): Open your mind