Wealth vs. Morality: The Dilemma of Profiting From Sin

Sin—actions deemed morally wrong or harmful—can be difficult to resist, especially when money is involved. A hefty paycheck or a prestigious title can make it easier to overlook the potential harm our work may cause society. Moreover, unless you’re working for free, there’s often a moral trade-off involved—someone or something usually has to bear a cost for you to prosper.

The debate between wealth and morality is deeply personal. We are all sinners in some way. Some people are more sensitive than others to what constitutes “the right way of making money.” That’s what makes this discussion so fascinating—it’s not one-size-fits-all.

This isn’t a post about determining who holds the moral high ground. After all, we live in a capitalist society that prizes profits and wealth. Capitalism is part of what makes America exceptional, gradually raising the standard of living for its citizens.

Instead, this post is for those who feel conflicted about building wealth from a product or service they believe doesn’t offer a positive net benefit to society. I want to help those wrestling with this dilemma find clarity and resolution, having experienced similar conflicts myself before making a change.

Dissatisfaction With Work Is Common

Work dissatisfaction is a widespread experience. Whether it’s due to unfulfilling tasks, limited growth opportunities, challenging colleagues, or misaligned values, many professionals find themselves asking: Is this all there is?

Often, dissatisfaction stems from a disconnect between what we want from our careers—purpose, recognition, or flexibility—and what our jobs actually offer. Long hours and insufficient work-life balance only make matters worse.

Perhaps the largest factor of work dissatisfaction is a lack of belief in a company’s product or mission. This dissonance triggers an internal morality clock that becomes harder to silence over time. Yet, the pursuit of wealth and status keeps many tethered to roles devoid of deeper meaning.

While playing pickleball, I met a college graduate who didn’t pursue her dream of working at a nonprofit addressing child malnutrition. When I asked why, she replied:

“Google came on campus recruiting, and I couldn’t say no. Everyone wanted to work there, but most couldn’t even get an interview. I felt foolish not to accept their offer.”

After our game, she admitted, “I don’t want to work at Google forever. I just want to make enough so I can leave. Maybe I should start planning my escape now? Let’s run it back.”

Her story highlights the societal pressure to “make it big” at the expense of pursuing something meaningful. It’s a struggle many of us face—balancing financial security with the desire to make a positive impact. Sadly, some never quit chasing the money.

When Building Wealth Started Feeling Empty In Finance

When I landed a banking job in 1999, I was thrilled. It was the only offer I received after graduating from William & Mary, and I was eager to work in a field I was passionate about: investing in the stock market. For a while, as a middle class kid with no money, it felt like a dream come true.

But the global financial crisis of 2008-2009 changed everything. Watching the industry be vilified—and rightfully so in many cases—made me question my purpose. My role in International Equities wasn’t connected to mortgages, but the entire financial sector was painted with the same brush. I was guilty for the collapse of the housing market by association.

Roughly 10 million U.S. homes were lost to foreclosure, short sales, or deed-in-lieu arrangements over a six-year period around the crisis. It no longer felt fulfilling to help institutional clients outperform or Asian companies raise capital to go public when so many families were suffering.

Burned out after a decade, I devised a way to leave the industry, negotiating a severance package in 2012. Since then, I’ve been helping others achieve financial freedom—which has felt like a far more meaningful endeavor. Though I left the pursuit of getting rich in finance, I feel my soul is richer for the pivot.

The Risk Of Sinning For Too Long

Unless we’re talking education or social work, I’m not sure if any industry is free from sin. The tragic assassination of UnitedHealthcare executive Brian Thompson on December 4, 2024, brought these thoughts to the forefront.

Thompson, who reportedly earned tens of millions during his tenure, was killed by a masked gunman using bullets engraved with words like “deny,” “defend,” and “depose.” The attack echoed grievances outlined in the book Delay, Deny, Defend: Why Insurance Companies Don’t Pay Claims and What You Can Do About It.

While violence is never the answer, it’s clear this incident stems from widespread frustration with the U.S. healthcare system. Given health care is so expensive in America, we need healthcare insurance to protect ourselves from medical catastrophe and potentially bankruptcy. But at what cost? And how much are the healthcare insurance companies part of the problem?

As a UnitedHealthcare customer at least since 2012, paying $2,500/month for an unsubsidized Silver plan, I’ve had my share of aggravations—fighting denied claims despite exorbitant premiums. For example, it took my wife 11 months of unnecessary stress to resolve issues with our daughter’s surprise $3,500+ ambulance bills.

Healthcare industry executives understand that denying more claims often leads to higher company profits—and by extension, higher personal compensation. While checks and balances are essential, the question remains: where do we draw the line between profit and patient care?

Every Industry Can Be Considered A Sin Industry If Money Is Involved

Perhaps you work in an industry that feels inherently unethical and find yourself unfulfilled or conflicted, as I once did. Or maybe you wrestle with whether your company’s impact on society leans more toward harm than good.

As I reflected on various industries, including my own, I realized that almost every industry could fall somewhere on the “sin spectrum” when money is involved. At the same time, every industry can also argue they are doing good for humanity. Here are some examples along that spectrum:

While these platforms connect people, their primary way to earn profits is to hook users and sell more ads. Unfortunately, this business model has contributed significantly to the adolescent mental health crisis, with social media addiction often linked to anxiety, depression, and self-esteem issues. The “Wait Until 8th Grade” is a great movement to encourage parents to hold-off on giving their children mobile phones until later.

Buy-Now-Pay-Later Companies

These companies thrive on helping people buy things they can’t comfortably afford. While convenient to me instant gratification, this model often encourages unsustainable debt, leading to financial stress and hardship.

Credit Card Companies

Credit cards offer convenience, rewards, and 30-day interest-free loans. However, they also charge sky-high interest rates and rely on a percentage of users failing to pay their balances in full, creating a cycle of debt that may be hard to get out.

Cigarette and Vaping Companies

Smoking might calm the nerves temporarily, but it comes at a steep cost—causing cancer and significantly reducing life expectancy.

Processed Food Companies

Processed foods are often more affordable and accessible, helping to feed more people. However, the excessive use of additives and sugars is contributing to widespread health issues, placing a significant burden on the healthcare system.

Gambling Companies

While gambling in moderation can be entertaining, it can be highly addictive and lead to financial pain. I once played poker for 10 hours straight, only to be nudged awake by the pit boss at 4 a.m. when it was my turn to bet—not good! With the rise of legal sports betting, many gamblers are likely to face even greater financial risks.

Drug Companies

Developing a successful drug requires significant investment and risk, often spanning years of research and trials. Company’s should be compensated. However, once a drug is developed, setting prices so high that they deny access to life-saving treatments or critical care feels unethical. Balancing innovation with affordability is a moral challenge.

Elite Universities

Educating young adults to become righteous, contributing members of society is commendable. But if elite universities truly aim to serve society, why not significantly increase the number of spots available? Additionally, prioritizing wealthy applicants through much higher acceptance rates feels unnecessary when endowments are already immense. True impact lies in expanding access and equity.

Criminal Defense Lawyers

Criminal defense lawyers have a professional and ethical obligation to ensure every individual receives a fair trial, regardless of guilt. This duty upholds the presumption of innocence, a cornerstone of the justice system. However, knowing a client is guilty—especially of a heinous crime—must be an incredibly uncomfortable reality, and winning such a case likely can’t feel good.

If you feel stuck in an industry that conflicts with your values, it might be time to explore alternatives. Wealth isn’t just about money; it’s also about peace of mind and knowing your work positively impacts the world.

How To Reconcile Getting Rich Off Of Sin

As I mentioned earlier, how you feel about work will naturally tell you if you’re in the wrong place. If you start feeling guilty about the money you’re earning, hesitant to share where you work when others ask, or ashamed of the lifestyle your job supports, these are clear signs it’s time to make a change. Here are some steps to help you take action and heal your soul.

1) Work for sin until you reach the minimum investment threshold

If you are not already rich, then you must take work wherever you can get it. So long as your work is legal, then you should feel good enough knowing that you are getting paid for your valuable time. If your work wasn’t valuable, you wouldn’t have been hired or wouldn’t still have a job.

Ultimately, however, you must break free from the job that is sucking your soul if you don’t believe in its product or its mission. To do so, you need to save and invest aggressively to the point where you reach the Minimum Investment Threshold where money and status are no longer the focal point.

The minimum investment threshold where work starts to become optional is calculated by taking the inverse of the historical return of the asset class you want to own for retirement and multiplying it by your gross annual income. The formula visually looks like this below.

For instance, suppose you work at an “average sin company” and earn $100,000 annually. If the S&P 500 is your go-to investment, you might need to build a $1 million portfolio before being able to walk away for good.

However, if you’re employed by a “highly sinful company” and feel drained every day, aim for a smaller target so you can leave sooner. Your goal could be as simple as covering your minimum fixed annual expenses divided by a safe investment rate of return. For example, if you can live on $20,000 a year, divide $20,000 by 5%-6%, resulting in a target of $333,000–$400,000.

Once you’ve got these investment amounts saved, it’s time to leave your job and nurture your soul.

2) Negotiate a Severance Package for Greater Financial Security

Leaving a lucrative job is incredibly difficult, even if the work feels soul-crushing or harmful to others. However, for the sake of your well-being, it’s crucial to move on—and negotiating a severance package can be the catalyst to doing so. It absolutely was for my wife and me.

By proposing a separation agreement where you stay on temporarily to help find and train your replacement, you create a win-win scenario. This ensures a smooth transition for the company while giving you a financial runway to pursue something more fulfilling.

Many companies are open to paying severance to both top-performing and average employees if it helps avoid reputational damage and maintains business continuity. Plus, since you’re leaving the industry rather than joining a competitor, your chances of securing a package increase even further.

A severance package can eliminate the financial excuse for staying in a role you dread. Coupled with your pre-existing savings or Minimum Investment Threshold, a severance package becomes the ultimate catalyst for leaving a harmful industry behind and embracing a better future.

3) Make Up For Your Past Misdeeds Or Wasted Time

The level of harm your firm caused and how many years you spent supporting it will help determine what type of new role you should pursue and for how long. It’s ultimately up to you to decide what feels right.

One simple guideline is to spend an equal amount of time working in a more ethical, socially responsible industry as you did in the “sin industry.” For instance, if you spent 15 years selling sugary drinks and cereals to children, consider getting certified to become a grade school teacher or personal trainer.

If you spent 10 years denying insurance claims to families in need, consider spending 10 years at a place like St. Jude Children’s Research Hospital in any capacity. Families never receive a bill for treatment, travel, housing or food. If you spent five years getting customers hooked on online sports gambling, dedicate five years to working with Gamblers Anonymous to help others regain control of their lives and overcome their addiction.

Matching the time spent helping others to the time spent contributing to harm can significantly heal your soul and reduce any lingering guilt. After spending 15 years writing on Financial Samurai without a paywall, my 13 years in international finance now almost feels like another life.

4) Donate your time and money or create a platform to counteract the harm you helped create

Finally, you can take it a step further by donating your time and money to help reverse some of the harm you contributed to. The more guilty you feel, the more money in time you should donate.

Additionally, creating a platform to spread awareness and prevent others from falling victim to the same issues can be powerful. Just make sure your thoughts and actions remain consistent.

For example, the 1997 Asian Financial Crisis had a profound impact on me while I was in college. It highlighted the dangers of excessive debt, and as a result, I’ve become cautious about endorsing credit cards on Financial Samurai, fearing that some may not use them responsibly. One or two rewards credit cards is all you need.

My experience in the finance industry during the housing crash led me to create the 30/30/3 home buying rule. It felt horrible to see what so many people were going through, including ourselves, after taking on a huge mortgage in 2005 and another in 2007. This rule has helped protect thousands of homebuyers from overextending themselves and experiencing unnecessary financial strain.

5) Sell sin stocks and investment as responsibly as possible

If you’re looking to align your investments with your values, consider divesting from sin stocks as a step toward financial “repentance.” Holding onto such investments while opposing their ethics is akin to a vegan wearing leather shoes.

The S&P 500 may no longer align with your principles if it includes companies you oppose. In this case, you can build a custom portfolio featuring only companies that meet your criteria or opt for Direct Indexing. This service allows wealth managers to construct a personalized index tailored to your parameters.

Although achieving a 100% sin-free portfolio is challenging, taking these steps will bring you closer to aligning your financial goals with your values.

Get Rich Enough To Walk Away From An Uncomfortable Job

The wealth-versus-morality dilemma has no easy answers. Each of us has unique preferences for how much money we desire and varying thresholds for how much of our soul we’re willing to sacrifice to achieve it.

Some of us couldn’t care less and happily use our sin money to buy mansions and luxury cars for all to see—stealth wealth be damned! Meanwhile, others stay so low-key and frugal that they might start questioning why they work for sin money if they’re not going to spend it.

Telling someone to focus solely on doing something meaningful for society is a luxury belief. In reality, we must strike a balance between earning enough to care for our families and pursuing work that feels fulfilling.

For many of us personal finance enthusiasts, there’s hope. After diligently saving and investing for 10–20 years, I’m confident most of us can build a financial foundation strong enough to make a career shift if our current work no longer aligns with our values.

Readers, do you think one of the main reasons for dissatisfaction at work is because employees deep down know their companies aren’t doing much good for the world? How do you reconcile getting rich off a “sin” industry? If you’ve left one, how did you make the transition, and what are you doing now? How do you feel about the work you are doing now?

Protect Your Loved Ones With Life Insurance

If you have debt and/or dependents, securing life insurance is essential to protect your loved ones. I recommend getting free quotes through Policygenius, the top life insurance marketplace today. Life is unpredictable, and having the right coverage provides peace of mind.

With Policygenius, my wife managed to double her life insurance coverage while paying less. For years, we had mismatched life insurance coverage, which made no sense given our shared responsibilities. After our daughter turned three, I also used Policygenius to secure an affordable 20-year term policy. It was an incredible relief to know that our two children were now safer.

Policygenius simplifies the process by providing real quotes from multiple insurers all in one place. This way you can confidently find the best price and policy for your needs. Don’t wait—your loved ones deserve this protection.

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