Sharing Daily Discoveries About Personal Finance And Business Topics

Generosity Is For Suckers And Greed Is Good

I was watching this video today that seemed like another version of a Ted talk video topic I saw before about wealth and what it does to people. In this one a person used the phrase on how “Generosity is for suckers” and that “greed is good” when it comes to being financially successful. You can watch the video here.

A point was brought up too about how there are billionaires in the world who are extremely generous which makes that phrase not true. I was really thinking about this and while it is true in many ways, I think it’s more like being generous to everyone is for suckers. Even speaking from personal experience, for most people you would think that the cause of losing a lot of money would be living beyond your means, buying useless items you don’t need or say gambling it away in a casino. Even in my case, the number one way I have lost the most money in my life was being too generous.

This ranged from say loaning a long-time friend five figures only to never see a penny back to helping start-up entrepreneurs who claimed that once you help them they will in-return do good for others. In cases like these they never turned out good. Like in these cases, if I was simply greedy as oppose to being generous I definitely would have had a lot more money. Would I say that being generous in general is the culprit? In some ways yes but in many ways no.

It’s almost bad to say, but when it comes to money the only common theme I have seen is if you are generous based purely on the emotional factor then you are asking for trouble. Even if it is the person that claims to be your best friend, you need to be generous but still treat the whole scenario as if you are investing with a stranger.

It can be the same for a charity. If you are simply giving away all your time and money because the charity claims they are there to help the kids don’t be surprised if it turns out to be like scam. Like in that case you really need to research about the organization as well. Some of the best moments for me in life has been when my generous deeds made such a profound positive impact in someone else’s life. However, for everyone one person that is deserving there are probably like nine others who just want to take from you. I guess a funny way to put it is that you need to be greedy on who you can be generous to.

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