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Money and the Fulfillment of Your Potential

Many of us don’t have that much time to contemplate our potential, but what stops us from doing so? Abraham Maslow was one of the leading psychologists who studied the path to self- actualization or the fulfillment of one’s potential.

He developed one of the most popular theories in psychology: Maslow's Hierarchy of Needs. This hierarchy outlines the different levels of human needs, from basic physiological requirements at the bottom of the pyramid to self-actualization at the peak. The physiological level, at the base, includes things like air, water, sleep, and shelter. The next step up is safety and security- these include things such as employment, property, and family. Moving up a rung we find love and belonging which include things like friendship and a sense of connection. Just below the top, we find self-esteem which includes achievement and confidence. At the pinnacle, we find self-actualization which involves creativity, meaning, and fulfillment of potential.

So where does money fit into this framework? Money itself is not a human need per se, but it is inextricably linked to meeting many of the lower-level needs in Maslow's model. Income provides the ability to afford food, shelter, clothing, and personal safety. Wealth can help create a secure environment and high self-esteem. Knowing this, having sufficient financial resources could be considered a prerequisite for self-actualization.

However, self-actualization - realizing one's full potential and finding meaning/purpose - is really more of an inward journey. The deepest levels of Maslow's highest need are about growth, achieving psychological maturity, and feelings of transcendence. While not having to worry about money can certainly remove distractions, the deepest work of self-actualization may require turning inward beyond external circumstances.

Many philosophers, artists, and spiritual teachers have lived lives of poverty while achieving self-actualization. They found that wealth was unnecessary, or even an impediment, to realizing their fullest selves. On the other hand, many wealthy individuals have also self-actualized by pursuing creativity, knowledge, purpose, and legacy over simple materialism.

Honestly, though, do you really want to live in poverty? We’re willing to be the answer is no. The average person just wants a decent place to live without having to worry about where the next meal is coming from. Having a little extra buys time to think and create. This is why we’re fierce advocates of not depending on a single source of income.

Ultimately, while money helps meet basic needs and remove barriers, self-actualization IS an inside job - an ongoing process of growth, self-exploration, and discovering one's highest values and reason for being.

The writer has two graduate degrees and a Lean Six Sigma Yellow Belt.

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