“What a person can be, they must be. This need we call self-actualization…” – Dr. Abraham Maslow, adapted to modern times.
Every now and then, I hear someone lament, “If only I had ₱100 million…” Or a conversation (trust me, I’m not actively eavesdropping) turns to the familiar question: “What would you do if you had all the money in the world?”
The question may sound like harmless daydreaming. Yet it points to something more important than a lottery win, a larger salary or an early retirement. It asks us to consider what we would do with our lives if money no longer dictated every decision.
Now, the idea behind this week’s column came from a Reddit post (link here) where a successful lawyer shared his experience in an AMA, or “Ask Me Anything”, after winning half of a 6/58 lottery jackpot. Beyond practical questions such as ‘how the prize was claimed’, ‘what he planned to do’, and ‘how he intended to manage the money’, the discussion raised a more enduring question: once financial pressure is removed, what comes next?
This is not a foreign concept in financial planning or consulting. In fact, that question lies at the heart of George Kinder’s life-planning approach, commonly known as “Kinder’s Three Questions.” These questions are designed to help people move beyond vague financial goals and identify what genuinely matters to them. They are not really about money but the important stuff: your life.
Mr. Kinder’s approach starts with a deceptively simple exercise. He asks clients and prospects to imagine that they are financially secure and have enough money to take care of their needs, now and in the future. He then asks how they would live, what they would do differently, and what a fulfilling life would look like to them. This exercise is drawn from George Kinder’s Life Planning framework.
The question may seem like an icebreaker, but it is far more revealing than it first appears. It strips away the usual limitations of bills, deadlines, societal expectations and personal hesitations, helping uncover a person’s authentic desires.
I think this connects well with Abraham Maslow’s idea of self-actualization: becoming what we are capable of becoming. That is why I chose the quotation at the beginning of this column. Financial security does not guarantee a meaningful life, but it can create more room to pursue purpose, relationships, learning, creativity, and the other things that make life meaningful. Maslow’s framework places self-actualization above basic needs such as physiological security and safety, although life does not always follow a neat, step-by-step pyramid.
Financial security, or financial freedom, therefore, is not simply about never working again. From my perspective, it is about giving people the chance to “work by choice” instead of by necessity. It means having greater control over your time, greater resilience when life takes an unexpected turn, such as a hospital visit, and more opportunity to choose work or commitments that align with your personal values.
To be fair, the freedom rarely arrives overnight. It is something you may spend a lifetime building through disciplined saving, sensible risk management, careful investing, manageable debt and patience. The point is not to chase a magic number blindly. The point is to build enough financial capacity to support the life that matters to you and your loved ones.
Building financial freedom is not something most people need to navigate alone. A Registered Financial Consultant, or RFC®, can help turn personal goals into a realistic financial plan, explain the available options clearly, identify gaps and risks, and provide guidance with transparent disclosure of relevant fees, commissions, affiliations and conflicts of interest.
So, before asking how much money you need, let’s ask a more fundamental question: What is the money for?
If you were financially secure, how would you live?
Professional disclosure: The author is an SEC-licensed Equity Securities Salesman (ESS) acting only within the scope of the relevant registrations and authorised institutional appointments.
Disclaimer: This column is for general information and financial education only. It is not personalised investment, financial, legal, tax, or other professional advice and does not take account of your objectives, financial situation, needs, or circumstances. Nothing in this column is an offer, recommendation, or solicitation to buy, sell, or hold a particular financial product or security. Readers should consult an appropriately qualified and licensed professional before making financial decisions.
If you would like to learn more about long-term wealth building, financial education, or investment products within the author’s authorised capacity, contact André at andre@palawandailynews.com. Any recommendation or transaction is subject to suitability assessment, product documentation, and applicable regulatory and firm requirements.
