INTERVIEW — RIC EDELMAN – financial planning guru and WMAL radio host of The Ric Edelman Show on Saturdays at 10 am. He can also be found at RicEdelman.com
WMAL radio host and financial guru Ric Edelman shared his analysis of the holiday classic film on WMAL's morning-drive show.
Your Favorite Christmas Hero Is a Terrible Role Model
The Lessons You Need to Learn from It’s a Wonderful Life
by Ric Edelman
In It’s a Wonderful Life, George Bailey (played by Jimmy Stewart) is called “the richest man in town.” He's selfless and concerned about the community. He puts everybody's needs above his own. The entire film is structured to show you that he’s a great role model.
But he’s not – at least, not financially.
That’s because, while George Bailey was rich in heart, he was a complete failure financially.
Too many Americans already believe that being rich is bad. It's a Wonderful Life does reinforce this myth. So do stories involving Grinch, Scrooge and Gordon Gekko.
I was on The Oprah Winfrey Show a few years ago. Following each broadcast, Oprah would have me stay to talk with her audience for an hour or so. During that session, a woman told me she felt guilty about saving money, because she felt having more money than others was bad.
"You're confusing wealth with materialism," I said. "It's not evil to have money. It's evil to love money."
You could see it in her eyes – and Oprah exclaimed to her, and to audience cheers, “You just had an a-ha moment!”
George Bailey could use one of those, too. He could have been selfless and good, with integrity intact – and still done better for his family financially.
