Wayne von Borstel Debunks the Myth That More Money Equals Success
Does earning more money equal financial success and happiness? According to wealth expert, author, and financial and retirement advisor Wayne von Borstel in Portland, Oregon, this is a myth. Financial success has little correlation with the amount of money you make and has everything to do with how you plan and how much you save.
von Borstel has decades of experience in helping people find happiness through living a simpler but financially healthier life. Here, we’ll share his insights into why more money doesn’t necessarily mean more success.
Money Can’t Buy Happiness
Can money buy happiness? Statistics from the World Bank Group show that the U.S. is the richest country in the world, with a gross domestic product (GDP) of $22.996 trillion. Despite this, the U.S. sits at number 19 in the World Population Review’s latest ranking of the happiest countries in the world.
von Borstel explains that this disconnect relates to U.S. society’s overwhelming obsession with having more. As U.S. citizens, we live in a country that, through media and advertising, constantly tells us we need more: more wealth and material possessions. Sometimes, this means buying things we can’t afford at the expense of our financial stability.
von Borstel argues that having more won’t make us happy, and the belief that more money equals success and contentment is not only a myth but also a trap.
Wayne von Borstel on the Myth of More
If you believe that more money will help you achieve happiness, you’re unlikely to reach this goal. As von Borstel notes, in a more mindset “there is never enough.” No matter how much money you make, you can always make more.
Every time you think you’ve achieved your goal, you’ll feel you need to make even more money to unblock your path to happiness.
Despite exceeding his own financial goals many times, the Oregon financial expert emphasizes the importance of finding happiness where you are. von Borstel poses the question: “If I don’t learn to be content today, when am I ever going to be?”
The Stress Caused by a Debt-Fueled Life
Living in a society geared towards constantly craving more can lead to a fixation on what we don’t have. This may leave us resenting those who have more than we do and struggling to keep up with the Joneses.
The truth is, often, those we deem financially successful are the least content. von Borstel explains that a blind fixation on more can create a lifestyle fueled by debt, leading to more stress, more strife in our relationships, and less happiness overall.
Rejecting the myth that happiness comes from a cash flow obsession and creating a clear plan for financial success is crucial to protecting our happiness and avoiding a debt-fueled life.
Financial Expertise From Wayne von Borstel in Portland, Oregon
The key to long-term financial success and leading a happy life is often taking a conservative, prudent, and wise approach to wealth planning.
From the Oregon offices of von Borstel and Associates in Portland and The Dalles, von Borstel and his team work closely with clients across the U.S. to ensure they are debt free by retirement (that includes paying off the mortgage).
Giving up the myth that more money equals success doesn’t mean abandoning your financial goals. On the contrary, von Borstel notes that it’s easier to reach the next goal if you feel content.
However, as with most things in life, acting without a plan is unlikely to bring us closer to our goals. Without clarity in the financial process, the chances of us finding contentment are low. Instead, von Borstel suggests prioritizing financial readiness through intentional steps.
Every step taken towards the goal of debt-free retirement means more contentment, less stress, and greater purpose in our day-to-day lives and relationships.
About Wayne von Borstel
Wayne von Borstel has nearly 40 years of experience assisting high-net-worth clients in positioning assets and leading happier lives. He is currently the president and founder of the independent financial planning company von Borstel & Associates. The company serves clients across the country from its two Oregon offices in Portland and The Dalles.
The Oregon company’s unique Vision to Wealth Process consists of eight steps to manage your wealth, from guided discovery and development of a personal success strategy to plan implementation and ongoing support. Investment advisory services are available through von Borstel and Associates, Inc., a U.S. Securities and Exchange Commission (SEC) Registered Investment Advisor.
Before founding von Borstel and Associates, von Borstel was the creator and president of the Northwest Planned Giving Initiative and a long-term representative of both LPL Financial and Mony Mutual of New York.
von Borstel holds a master’s degree in financial services from The Graduate School of Financial Services at the American College. He is a Chartered Financial Consultant (ChFC), Chartered Life Underwriter (CLU), and Certified Financial Planner (CFP).
von Borstel is currently a member of the Portland Estate Planning Council, the International Association for Financial Planning, and the National Association of Insurance and Financial Advisors. He also teaches aspects of financial planning through his company’s monthly coaching calls.
Outside of his professional achievements, von Borstel is a dedicated philanthropist, helping children from underprivileged backgrounds access education. He and his wife Marta have funded the development of schools across various countries. The couple also provides financial support to an Indonesian orphanage that houses children who lost their families in the 2004 tsunami.
