The Spiritual Dimension of Wealth
19 May 2022
After reading a recent article (March 1, 2022) in the USA Financial Advisor magazine by financial planner and author Robert Laura, I decided to take up his challenge to write more about the “spiritual” dimension of wealth. Robert notes that “It’s generally a taboo subject that few planners and clients ever address” and stresses that he is “not looking to debate religion”. However, he maintains that there can be real value in exploring the spiritual journey as part of planning for your money and your life.
While spiritual matters can be seen as navel-gazing or overly contemplative – and may not be everyone’s cup of tea – at Money Matters we see them as a valuable way to support clients in making a difference in their lives, and in the world. So much so, that the subject was part of my PhD. Chellie’s PhD research also explored this area, with her “Five Wellbeings” model (economic, social, environmental, cultural and spiritual). Her leadership development writings and courses also take the spiritual into account, offering a journey to Te Ao Mārama, the world of enlightenment – that we summarised in our ‘Wayfinding for Ethical Investment’ webinar (October 26, 2021).
In this article, we’ll explore the viewpoints of a selection of other thought leaders in the spiritual and financial fields, who seek to help individuals further their positive impact.
Before we begin, let’s explore a definition of “spiritual wellbeing”
In his latest book ‘Happier – No Matter What’, the exceptionally popular former Harvard psychology teacher Tal Ben-Shahar states that spiritual wellbeing involves asking “Are we living mindfully and purposefully?” He proposes that “the way to happiness” is indirect via five core elements: spiritual, physical, intellectual, relational, and emotional well-being (or SPIRE for short). Tal maintains that people who nurture all five are, on the whole, happier than those who don’t or overinvest in one or two.
According to Tal, spiritual wellbeing is about finding a sense of meaning and purpose. It can certainly be religious, however, it doesn’t have to be. A banker who considers her work a calling can experience greater spiritual wellbeing than a monk who finds her work devoid of meaning. We also experience spiritual wellbeing when we’re in the here and now, rather than being distracted by the then and there. When we’re mindful, we elevate ordinary experiences into extraordinary ones.”
The Inner Development Goals – a “spiritual and cultural transformation”
The Inner Development Goals (IDGs) is an initiative that takes into account the spiritual dimension – relating it to the United Nations Sustainable Development Goals (SDGs). The initiative’s founders believed that the world’s ability to achieve the SDGs will require a specific set of capabilities, qualities and skills. Or, as leading USA Law Professor, author and environmental advocate Gus Speth puts it, “a spiritual and cultural transformation”.
The IDGs aim to provide an essential framework of transformative skills for sustainable development. The initiative is currently co-creating an open-source and free-for-all field-kit on how to develop these necessary skills.
If you would like to learn more about the IDGs and how you might apply them personally, Money Matters has created a “Guide to Exploring the Inner Development Goals through Ethical Investment”, and written a blog ‘Introducing the Inner Development Goals’.
‘The Way of Real Wealth’ – Another Money Doctor’s Perspective
I’ve had ‘The Way of Real Wealth’ on my bookshelf since shortly after it was published back in 1993. The author is USA based Mark Waldman, who on the book cover is referenced as a PhD and CFP (Certified Financial Planner) like me, and also like me is described as “The Money Doctor”. Mark’s view is that: “Spirituality means freeing ourselves from an ego-based view of ourselves and the world. It means allowing a different experience to enter our awareness. That spiritual experience has been called God, Allah…Buddha, Nature…and thousands of other names. The particular name isn’t important. What is important is that we recognise the differences a spiritual understanding of life makes.”
He suggests that “consciousness is about aiming to use each moment of life as a tool for increasing our self-awareness. For those who strive for greater consciousness, money is no different from relationships, work, or other parts of our lives in its value as a tool for growing in self-awareness. What’s different is how ignorant we are of the possibilities inherent in using money this way.” Mark maintains that all spiritual traditions agree that it is essential to “Know thyself”, as highlighted in ancient Greek philosophy. He suggests that as so much of what we do relates to money, seeing “what we really do, how we act and feel” about money, is one of the most powerful tools for increasing our self-awareness on a daily basis.
‘Money – From Fear to Love’ using The Enneagram
The Enneagram is a model of the human psyche which is principally understood and taught as a typology of nine interconnected personality types. It’s widely regarded as a more complete and in-depth approach to understanding personality and presence than any other system – and it’s arguably the oldest human development system on the planet.
In her book “Money: From Fear to Love – Using the Enneagram to Create Wealth, Prosperity and Love”, my fellow Enneagram student Margaret Smith, Harvard PhD (Economics) and USA Certified Financial Planner, explains the importance of Enneagram in relation to money:
“The problem is that we are each asleep to our relationship to money in some way. Waking up requires intervention. We need a map of the ways in which we are asleep. This is the fundamental beginning point for improving our relationship to money. How can a person who is asleep diagnose the ways in which they are asleep? They cannot. Asking people to explore their family history with money, their childhood money messages, and their money values will bring them some distance, but not all the way. Eventually, we will hit a wall. Without a map, we cannot see ourselves more clearly. This is precisely why a system that can help people find themselves is so useful.”
In addition to Margaret’s book, World Enneagram Day on 28th May 2022 provides opportunities to learn more. This year, World Enneagram Day coincides with the International Enneagram Association (IEA) Nordic Conference in Stockholm, Sweden. The IEA will be broadcasting a free, live presentation via Zoom from the conference on Saturday, May 28th starting at 3:00 PM USA CEST. You can register here.
Being Mindful – applying The Virtues Project
Another approach I’ve found invaluable for exploring the spiritual dimension is the Virtues Project www.virtuesproject.com and www.virtuesproject.org.nz
The Virtues Project describes virtues as “the essence of the human spirit and the content of our character”. The project was founded in 1991 by Linda Kavelin-Popov, her husband Dr. Dan Popov, and her brother, John Kavelin. The mission of The Virtues Project is “to inspire people of all cultures to remember who we are and to live by our highest values”. The Virtues Project is a global initiative, that has been introduced in 135 countries, “inspiring the practice of virtues in everyday life”.
The website has a list of 101 virtues with definitions. The “Virtues Reflection Cards” are available for purchase in hardcopy or download. Each of the full colour Virtues Reflection cards features a photograph of natural beauty from around the globe, a quotation from many wisdom sources, six ways to practice each virtue, an in-depth description based on research in the world’s diverse sacred tradition and an affirmation. A Virtues Pick (randomly from the pack) either in a sharing circle or in our own time helps to focus on cultivating the virtues more deeply. Reviewers have called them: “sacred”, “exquisite”, and “a guide to life.”
Awakening the Enlightenment Drive
For the deepest dive into the process of human development I’ve found the work of A.H. Almaas particularly valuable. For example, in his book “Runaway Realization -Living a Life of Ceaseless Discovery” Almaas describes “the enlightenment drive” as “the drive toward enlightenment, toward freedom, toward liberation, toward awakening…”. He suggests “This is a natural drive we all have that can wake up at some point”.
Almaas believes however that, “Mostly, it functions unconsciously, insofar as everybody wants to be happy and everybody wants to improve their life. When this drive toward freedom functions consciously, it appears as the recognition that what is at stake in our lives is the quality of our inner experience, the realization of our inherent beingness, the awakening of our spiritual nature. When we recognize this truth, the enlightenment drive has awakened”. This in turn motivates commitment to actualize our full potential and do what we can to apply practices ranging from often prescribed mindfulness approaches such as meditation through to the less common practices associated with deeply exploring being mindful through our relationship with money. Powered by the enlightenment drive we are likely to more fully apply practices that make a positive impact and difference for ourselves, others and the world.
Financial Adviser as Spiritual Director
In “The Seven Stages of Money Maturity – Understanding the spirit and value of money in your life”, American author and financial adviser, George Kinder, addresses the question, “What should I look for in a financial adviser?” He answers by saying, “In a way, an investment adviser is like a family priest or minister… or a counsellor. They identify with you, understand and empathise with your life mission, and are willing to work with to help you go as deep and far as you can. You should look for the ability to connect with your deepest concern.”
As an ethical investment expert and qualified spiritual director and coach, Master Facilitator with the Virtues Project and Certified Enneagram Teacher, I have a wealth of insights on this subject. I can offer unique guidance to make your money matter in your life journey. If that’s what you’re looking for in a financial adviser, that’s another great reason to get in touch and start a conversation.
