What is Money?

When Cheryl and I were still in the child rearing phase of our family life, we made time for dinner most every night. Despite a hectic schedule of work, school, soccer, dance and music, the four of us found the time to share the evening meal and some conversation.

While still quite young, one of the girls asked the question, “What is money”?

Things got quiet as the other three looked to me as it became apparent that Dad the “Investment Advisor” was expected to answer this question. My reply was simple….Money is freedom.

Money is freedom. Its presence in our lives allows us to do the things we value: to attend the schools of our choosing or to partake in the activities that bring us happiness, such as dance lessons and soccer.

Money is freedom to live in this house among our good neighbors without fear of ever having to lose the roof over our heads or the companionship of your friends.

They were just children then. I could have said more, much more, but the simple “money is freedom” mantra has lived on. We use it in financial planning sessions here at Iowa Wealth Management and in public speaking engagements, like when I presented to a financial planning class at Iowa State this year.

Money is not the root of all evil. Evil existed long before the appearance of money. An absence of money, well, that’s a state where evil has been known to germinate. Given a choice, I’ll choose freedom of financial comfort over freedom of nothing left to lose most any day and every day I’ve ever had a spouse and family.

Others will not equate money with freedom. To some, it's just an economic unit. That may explain why so many gamble and speculate, or why casinos are full and why Wall Street plunders their own clients by encouraging speculative ventures. I don’t have an answer as to why some will choose to gamble with their freedom or why some financial advisors will choose to gamble with their clients' freedom.

Here is what I do know: Iowa Wealth Management was founded to offer our clients (including my family) a haven from the fear and deprivations of speculation. Iowa Wealth Management is an investment firm. We understand what money is and we place value upon it.

After all, our freedom and yours depends upon it.