Let's get a discussion going!
As real estate investors and entrepreneurs, I know most of us see the world in relation to money. If we have enough coin (cash, financing, partners, etc), pretty much any problem can be solved... right?
It begs the question, are there any problems that money CAN'T solve?
If so, what are they, and how can those problems be dealt with?
@retipsterseth, I hate to be a downer, and I don't know if this is the sort of thing you're getting at, but the first one that comes to my mind is terminal illness. Certainly money can buy someone better medical care, so it's still far better to have money than not in the event of a terminal illness, but when a person reaches the limits of what modern medicine can do, all the money in the world can't solve that problem. It's why, when thinking about the things that I'm thankful for, I try to remember to put the health of my loved ones and myself at the top of that list. You can always make more money and buy more stuff, but health is a wildcard. In terms of how illness can be dealt with, to the extent that we can deal with it, I guess we all know the answers already (diet, exercise, etc.) -- but I'm as guilty as anyone (or more) of not consistently modeling the behaviors that I should on that one. :-)
@retipsterseth this is worth considering! The abviouse one jumps in to mind and its health issues. Sure some can be addressed with cash but there are some that no matter how much money you have you can't buy back health. What can be done about it? Not sure if I have the answer. Making sure that you prioritize your wellbeing above your business?
The other one that I was thinking that relates more directly to investing is, state employees that are reluctant to provide any service to a caller seaking public information. I think you fix this with patience.
@My706Realtor @dl7573 for sure. Health is a BIG one that money has very little to do with.
I would also say that personal relationships - while they aren't a problem per se - but a healthy relationship with friends and family can be a bit more complicated (depending on the individuals involved) once money is added to the equation. Having access to a lot of money can be a band aid that some people put over bigger problems that need to be dealt with more organically (buying your kids a bunch of fun toys isn't a substitute for being an actual parent). Money can also attract a lot of "friends" who don't actually care about you as a person.
Time, probably. When you think about it, we're exchanging money for a little bit more time—more time for ourselves, family, for leisure, and so on. Once spent, though, we can't get it back (in contrast to money, which we can always reclaim).
Last year's Avengers Endgame puts this in more succinct terms: "No amount of money ever bought a second of time."
Also this guy: used his billions of dollars to make a time machine. But I digress. :laughing:
If a person's life has no meaning, mission or purpose, money isn't going to improve their situation.
Money is just a tool, and like any tool, it can only do good is if it's used by the right hands, for a worthy purpose.