The 4 Principles of Lucky Money

With the recent passing of my father, I have found myself looking back over some significant turning points in my life and reflecting on the things I have learned along the way.

For instance, when I first came to North America as a young man, I had practically no money—and I really mean no more than the few dollars I had in my pocket. Today I am as economically free as I could have ever have hoped to be, and I think that is largely because of a mindset about money that I adopted before I even had much at all. I remember talking with my dad and my wife Shahinool and her father around that time, and I remember how we embraced the concept of "lucky money."

What is Lucky Money?

Lucky money is not about getting lucky and having money just find you. It is about dealing with money in a way that brings balance and the right kinds of life rewards. Follow the four basic principles of lucky money and you will lead a charmed life, economically.

1. First, give some away. It's a paradox that contains a powerful truth: the only way to truly feel the full measure of your abundance is to give. Don't wait to see what you have "left over" before you give—if you do that, you will often find there is none. Take it right from the top, in the form of tithing or some other automatic contribution. You won't miss what you never had, and you will gain so much by doing your part for humanity.


2. Fund your future. You're not only working for yourself and your family today; you are working for your future selves, and that is a reality that must be addressed with as much urgency as making your mortgage payment this month. Once again, make it automatic. Put money toward retirement, a first home down payment, or the kids' college funds as a matter of routine and you won't have to think about it. As tempting as it can be to give priority to today's wants and needs, this is one of the most important promises you can make to yourself.


3. Spend without guilt. Once you have taken care of these first two priorities, and you have met all your present-day obligations, enjoy your money. Acquiring wealth should not be the purpose of life, of course, but there is no question that money can fund many things that bring value to life. Use your money to affirm and enhance the way you want to live, and do it without regret.


4. Earn with integrity. Spending without regret follows naturally from earning without regret. And that doesn't just mean obeying the principles of financial ethics. In the case of dentists, it means keeping your professional commitment to always offer the best of your diagnostic and clinical delivery abilities to every patient, every time. There is great honor in doing that, and it gives you the satisfaction of knowing that you have always earned your way by doing the right thing.

Follow these four principles, no matter where you are in your career or your economic journey, and I think you will find that you will have a healthy relationship with money. Just remember, "lucky money" is not "magic money." You still have to work for it. It's just a matter of how you handle the output of your work. In that sense, as with so many things in life, you really make your own luck.


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