Why have I lost all motivation now that I’m wealthy?

I’m a high-income earner. I save well, and have investments, and I’m in a good place financially, but I struggle with feeling discontent. I was motivated to build wealth, but now that I have some, I don’t know what to do with myself. I feel embarrassed to admit this. I know I’m privileged. How do I get out of this rut?

Firstly, you’re not alone. Behind closed doors, I hear this from many others who pass the point of chasing money for security. It can happen at many stages and for many reasons.

This phase of life can feel like an existential crisis, but in reality, it’s a whole new chapter of discovery and growth.Credit: Simon Letch

Maybe you came into an inheritance or lottery winning. Maybe you reached a level of professional success that far exceeds what you once dreamed of. Perhaps you have a comfortable lifestyle and now everything feels almost boring. Maybe you hustled hard to reach financial independence, and now you have no clue what to do with all the time-freedom.

Here are some perspectives that have helped others I’ve talked to. They might help you as well.

Pursuing growth for need v desire

Initially, most people pursue financial growth out of need. I don’t mean just security or survival, though that is the first rung on the ladder. There are needs beyond survival, though.

Maybe now is the time to expand your identity and definition of success beyond wealth.

It could be – the need for validation, approval, acceptance, to prove something (to someone, or yourself), to feel a certain way about yourself (worthy, successful, smart, superior etc). In other words, beyond the financial needs of security and survival, there could be emotional needs.

However, there’s a golden opportunity when you run out of steam on chasing growth for the sake of material or emotional needs. You get to pursue growth out of desire, not need.

Why would one desire growth, if not for need? You have to answer that for yourself. From what I’ve seen, often the answer is in finding meaning in the journey, and not the outcome.

What is it about the journey that you enjoy, that lights you up, that brings you alive? Is it the feeling of accomplishment, stretching past your limits, mastering something difficult? Is it personal growth? Is it bringing value to other’s lives, and the connection that builds as a result?

If you think back to your wealth building journey, you might find some clues. At the time, you might have been chasing the outcome – but if you look at why you were motivated, what gave you satisfaction moment-to-moment, chances are it was the little things on the journey.

Can you find those things again? If not on your wealth journey, then in other aspects of life?

Redefining the purpose of work

There’s a strong cultural narrative that ties work and money together. You learn from a young age that the purpose of working is to earn money. Then there’s an entire financial movement telling you to invest that money as fast as possible, so you can retire and stop working.

But this can create a transactional relationship with work. It can be easy to lose the meaning and purpose of work beyond the money. This is fine, as long as you are driven by money.

But what happens when you’re no longer driven by money alone? This is a void many retirees feel – and a reason some find themselves returning to some form of work eventually.

This is your opportunity to discover work outside the context of money. You might find that, for you, work provides creative fulfillment, personal satisfaction, connection to the community, etc.

In some senses, this is the true freedom – not freedom from having to work, but the freedom to choose to work beyond your need for a pay cheque.

Expanding your identity and definition of success

When you get to a specific goal that you’ve been really motivated towards, and then you suddenly lose motivation, that can be because you’ve tied up a lot of meaning and self-identity to the achievement of that one goal. Now that you’re there, you’ve lost your purpose.

If your entire definition of success was tied up in building wealth, then it makes sense why you might feel a bit lost on the other side. If you had a broader definition of success – one that incorporated other aspects of your life – you’d still have other pursuits to keep you engaged.

Maybe now is the time to expand your identity and definition of success beyond wealth. Can you find that same level of engagement and enthusiasm in other pursuits?

This phase of your journey can feel like an existential crisis. But instead of seeing yourself as lost or stuck, you can see it as a whole new chapter of discovery and growth – one that is only possible because of everything that got you to this point.

Paridhi Jain is the founder of SkilledSmart, which helps adults learn to manage, save and invest money through financial education courses and classes.

• Advice given in this article is general in nature and not intended to influence readers’ decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making any financial decisions.

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