Last month I argued in favor of building wealth with money. There certainly are a lot of positive points to consider. This month I'm taking the side of stuff and arguing that as we pull ourselves out of debt and start building some wealth, we ought to be focused on having things, possessions, personal property, real property and other materials and physical resources instead of money. Am I changing my mind? Not really, I’m just looking at the other side of the same coin and being equally enthusiastic about it. Read more »

money in the hatAfter we pull ourselves out of debt, we'll probably want to start building wealth. It's one of the rewards that we can offer ourselves for having overcome the debt demon. And, there's nothing like the accumulation of wealth to put some meaningful (and visible) distance between you and your former indebtedness. If we're going to create wealth for ourselves instead of others, I think it's best to have our eye on that target as we start to bring ourselves out of debt. So, let's look at what form our wealth might take. When it comes to building wealth, there are various approaches and any number of focal points. Here's the first of a brief three-part series about which focal point is better, money or other more tangible items like a house, land, vehicles, or tools in the workshop. I think the answer lies somewhere in between the two, but for today, I'm going to argue the money side of the discussion. Later, I'll discuss why having "stuff" instead of money is good, and then I'll present arguments to show why a balanced approach is worthwhile considering. For today, let's focus on money. Why might we try to accumulate money as a way of building wealth? Several reasons come to mind quite easily. Consider the following: Read more »