Anonymous
I made $15m in my mid-20s after I sold a tech startup. I talked to a lot of people about this question, and thought a lot about how to stay the same person I was before and after making money.
Here's my answer: being rich is better than not being rich, but it's not nearly as good as you imagine it is.
The answer why is a bit more complicated.
First, one of the only real things being rich gives you is that you don't have to worry about money as much anymore. There will still be some expenses that you cannot afford (and you will wish you could), but most expenses can be made without thinking about what it costs. This is definitely better, without a doubt.
Being rich does come with some downsides, though. The first thing you are thinking reading that, is, "cry me a river". That is one of the downsides. You are not allowed to complain about anything, ever. Since most people imagine being rich as nirvana, you are no longer allowed to have any human needs or frustrations in the public eye. Yet, you are still a human being, but most people don't treat you like one.
There's the second downside. Most people now want something out of you, and it can be harder to figure out whether someone is being nice to you because they like you, or they are being nice to you because of your money. If you aren't married yet, good luck trying to figure out (and/or always having self doubt) about whether a partner is into you or your money.
Then you have friends & family. Hopefully your relationship with them doesn't sour, but it can get harder. Both can get really weird about it and start to treat you differently. They might come and ask for a loan (bad idea: if you give, always give a gift). One common problem is that they don't appreciate Christmas presents the way that they used to, and they can get unrealistic expectations for how large a present should be and be disappointed when you don't meet their unrealistic expectations. You have to start making decisions for your parents on what does and does not cost too much, and frankly, it's awkward.
Add all of these up and you can start to feel a certain sense of isolation.
You sometimes lay awake at night, wondering if you made the right investment decisions, whether it might all go away. You know that feeling standing on a tall building, the feeling you might lose your mind and jump? Sometimes you're worried that you might lose your mind and spend it all.
The next thing you need to understand about money is this: all of the things you picture buying, they are only worthwhile to you because you cannot afford them (or have to work really hard to acquire them). Maybe you have your eye on a new Audi -- once you can easily afford it, it just doesn't mean as much to you anymore.
Everything is relative, and you are more or less powerless to that. Yes, the first month you drive the Audi, or eat in a fancy restaurant, you really enjoy it. But then you sort of get used to it. And then you are looking towards the next thing, the next level up. And the problem is that you have reset your expectations, and everything below that level doesn't get you quite as excited anymore.
This happens to everyone. Good people can maintain perspective, actively fight it, and stay grounded. Worse people complain about it and commit general acts of douchebaggery. But remember this: it would happen to you, too, even though you might not think so. You'll just have to trust me on this one.
Most people hold the illusion that if only they had more money, their life would be better and they would be happier. Then they get rich, and that doesn't happen, and it can throw them into a serious life crisis.
If you're part of the middle class, you have just as many opportunities to do with your life what you want of it. If you're not happy now, you won't be happy because of money.
Whether you're rich or not, make your life what you want it to be, and don't use money as an excuse. Go out there, get involved, be active, pursue your passion, and make a difference.
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Anonymous
In my experience, for an entrepreneur at least -- getting enough money to have freedom is worth it and a glorious thing.
Here are my experiences:
1. "Made" $10M+ in paper gains on DotBomb 1.0 stock, lost all but $50k. Felt horrible. Took me 4 years to get over it. Horrible. Terrible emotional scars. Of almost having had something, but having lost it forever.
2. Made $2M on first start-up. This was the best experience ever. The good feeling lasted four years -- the good feeling -- every single day, until Lehman Brothers and lost half of it (until the market came back). This was the happiest time of my life, from here until Lehman. Why?
$2M after taxes was about $1.5m. At the time I was making about $150k a year. After taxes that's about $90k in California. So, in selling my first start-up, I made the equivalent of almost 20 years of income (ignoring inflation). Plus, at the time, the market was reliably growing 10% YoY, so I didn't even have to worry about inflation. That meant I never, ever again had to do a job, or something, I didn't want to do. I did have to work again - clearly. So the pressure to work wasn't gone. Which is actually a good thing, it keeps you alive, the need to work at some point, in some fashion. But the freedom to only do exactly what I wanted to do was new. It was glorious.
3. Made $20M on second start-up. Finally, real f'you money. I feel no better. Yes, I bought a better house. I didn't even bother to buy nicer cars. Who cares. I just bought some more jeans. Look, I am intellectually proud and gratified to have this money. But it didn't buy my freedom, which I had from before. It didn't improve the quality of my life.
So the $2M was the best. Losing $10M was the very worst. The $20M wasn't as sweet as the $2M.
So for me at least, the learning is the one thing that matters money can buy you is freedom. Some may call this f'you money, but it's not about that for entrepreneurs. It's about having freedom from the man, freedom to just go for it.
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Anonymous
Obviously a question like this will produce a lot of anonymous answers. We have a lot of friends here and we do not want our relationships to change (for the reasons stated in the top answers).
My wealth speaking statistically exceeds 99.853% of the World's population. I am a major shareholder in business that was valued recently (2012) by a Bank at a $6 million.
That probably doesn't say much because if you have central heating, enough food and water and internet and disposable income - than you are far richer than 50% of the worlds population.
My wealth was not self made - I did inherit it and invested into a business. But what I feel seem to be quite different from what I read over here. It seems to me like some answers written anonymously in this question are made by people who in fact DO NOT posses the wealth they state.
It does affect your relationship with people you know. It may even cause a few break ups with your close friends (definitely the saddest thing that happened to me).
There is also some pressure I would say to retain that wealth, because you are afraid to lose it. It is sort like jumping down on the floor - if you are not far away from the ground you are not afraid to jump. If you are very high up in the air, you are VERY afraid of falling down.
Being wealthy brings its upside and its downsides; however, I will state 2 things that might clear up this question:
1) I respect people WHO DIDN'T CHANGE, when they became wealthy. This means they were rich all along. I really like spending time with these people.
2) MY definition of being wealthy is:
Being able to acquire moderate needs you have -- food, water, residence, clothing, travel, proper healthcare -- without working. If you have children that will also include paying tuition for whatever university they want to go (part of the reason I want wealth is that if my kid is smart enough to go to MIT and wants to go to MIT - I want to give him that opportunity).
So if you can acquire all that, all that you need on daily bases without working - then you are rich.
Is it worth it? Of course - I want the best education for my kids, the best healthcare for my kids - how is that not worth it?
Does wealth has negative side affects - yes it does, communication with people you know will become more difficult and you may fear for loosing your fortune (a lot of really rich people lost EVERYTHING after 2008, so there is some pressure, you don't want to end up like those unfortunate people, you don't want to fail your family and loved ones).
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Anonymous
Why am I answering: I was raised in middle-class environment and reached upper-middle.
I'm from Saudi Arabia, and I work in a firm where most employees have rich parents. My work-friends are high-income to super-%1-high-income people.
The firm I work for usually pick people from rich families, but they needed someone with a certain technical knowledge, so I came on board.
During company gatherings, I park my Hyundai car beside their Audis and Lexuses.
Business trips for me is economy (thankfully, I stuck with one airline which got me gold membership so they give me free upgrades frequently). My friends go first class, or business class for some.
I also stuck with Holiday inn chain (ihg) and got free upgrades with time. My friends choose Rosewood hotels/Ritz Carlton/W...etc.
In our work chat and gatherings, I hear all stories about trips/perks/rich lifestyle that they see as normal. Result? It's almost the same, but with fancy packaging. Let's have a comparison:
Upper-middle class vs. high-income class:
Driving Hyundai Genesis ($25k) is like driving Audi A8 ($75k).. I tried both, both have almost the same comfort.. but Audi will give you "brand" and price for it.
Staying in Holiday Inn Express ($90/night) is like staying in Ritz Carlton($650/night).. Same comfortable bed (again, seriously, same comfort in terms of bed) and same hygiene..but different packaging/room space.
Traveling business class(eg. $850) and first class($3,000, same destination) , Same comfort.. Difference is that the crew and sometimes a Chef will come personally to you and call you by name. You order food whenever you want and use fancier utensils. Wider seat/bed but not noticable difference in terms of comfort.
All high-tier products are mainly to distinguish high-income, not to give them more. Same essence different decor. Comfort is the same, so the rest is excessive luxury that you get negligible utility from.
In conclusion:
You need money to help you pay the bills, live in safe gang-free neighborhood and not fearing being kicked out from your house. Afterwards, it's a similar feeling of comfort, but products are packaged differently to take more of your excess money, and to let others know that you're rich.
Struggling poor? Try your best to reach the stability of middle class.
Middle class fearing the end of every month? Work on reaching upper-middle, which can be reached sometimes by only managing your finances well.
Upper-middle? Your serious monetary issues are mainly (if not only) because you try to stretch your life further than your income. It's time to appreciate your fortunate situation and give back to community.
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Anonymous
Well, as a self-made wealthy individual ($20+MM), sometimes I think wealth is really a burden. I was an early employee of a tech company that had a multi-billion dollar exit and I made it big in my mid-30's. I wanted to get rich and I did it. But I actually feel maybe it's not worth it. A slower path to wealth might be a lot healthier to my career and to my life in general.
Four things stand out.
Sloth Work is no longer necessary. I can do anything I feel like but I end up doing mostly nothing and spend the days browsing the internet and writing as Anon User on Quora. Plus, the fact that I can just pay to get out of most of the situations makes me lazy and un-resourceful.
Greed I have a lot of money, but I crave for more. I want to be a hecto-millionaire now. But in the mean time, I don't feel like working.
Entitlement I feel I deserve the BEST of everything, because I paid for it: $1000 a night for a hotel suite, $500 for a Michelin 3 star meal, and $1000 for a bottle of wine. I grow really angry if I don't feel I am treated like royalty.
Loss of Purpose I feel my life/career has peaked. I don't know what I am supposed to do now. What's the purpose? I can go do some charity work, but this is not intellectually stimulating and most non-profits are run by a bunch of bozos anyway.
I think I would have been a better individual if I didn't make the money, stayed in a corporate job and just been a "normal" person. But it's impossible to give up the money. Being wealthy is probably not worth it. But once you get there, you want to stay there forever.
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Saurav Sharma, Full Stack Python Developer
It's worth it if you are getting there slowly.
Now this might sound a bit weird but let me explain.
Money has a diminishing effect, the more money you make the less you value it.I make a good amount of money right now but honestly speaking I was much happier when I want from making zero to some money.
When I was in college I used to think if I should skip coffee in the short break just to save a few bucks.
When friends asked me to join them for a movie I always had an excuse just because I had no money. It was quite painful and frustrating at the same time.
I remember my friends getting jobs during campus placements getting upto 5–6 LPA package where as I had no plans for the future and was still wondering how am I going to make money and start a business when I had no cash in hand.
There were a lot of problems in my life which only money could solve, there was no other way around it.
As soon as I started making a little money my problems started to vanish, now I could hang out with friends buy any books which I want get a decent internet connection and so on.
Going from zero to something was a great feeling, I was confident that if I could make a few dollars then I could make thousands as well.
The feeling of being able to make money was more important and fulfilling as compared to the money itself.
Now I make a lot more than I used to make previously but as I said the happiness/ dollar diminishes as you make more.
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Andrew Ferebee, Founder of Knowledge For Men | 3x Best Selling Author
I own a 7-figure business and earn multiple six figures in profit every year so I guess that (at least according to the current U.S. tax brackets) I would be considered rich.
Was it worth it?
To me… yes.
People seem to forget that being rich really has very little to do with the amount of money that you have, but it has everything to do with the kind of lifestyle that you can afford.
Being “rich” I can
- Wake up when I want to
- Take days off when I need them
- Spend my afternoons biking along the beach
- Purchase expensive items without worrying about how much money I will have left
- Travel when I want and where I want
- Feel secure in my financial life and not stress about my next paycheck
Was it easy to get here?
No,
Do I personally feel that it’s worth it? Absolutely.
I think that every person must define for themselves what “Rich” means and understand that it’s not the number that matters, it’s what you are able to do because of that number.
If you work 85 hours a week at an office you dislike with only one week of vacation and earn $750,000 a year… Are you really rich?
I would say no.
If you live in a country outside of the U.S., work 35 hours a week and take a whole month off every year while only earning $100,000 are you really rich?
Based on my definition, yes!
Rich is relative and whether or not it’s worth it depends on your definition and your desires.
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Ron Rule, CEO @ As Seen On TV
Money doesn't buy happiness, but it does buy options. It's not just about material things, it's about freedom.
I remember being 19 years old, $150 in the bank, and the motor in my car blew up - and I had to spend half that on a tow truck just to get the car to the shop. For the repair, I had to borrow cash from 7 different friends over the span of two weeks (because they were all as broke as I was) and since I couldn't afford a rental car, I was bumming rides every day to get to work. Then when I was finally back up and running, I had to put every extra dollar toward paying my buddies back.
Take that same scenario today, and things would play out very differently. Someone would come to my house, pick up the car, drop off the rental, and bring it back when it's done - if I even wanted to bother fixing it. I might just say "screw it" and go buy something else. The point is, I have options. All I'd have to do is write a check.
If I want to take the family on a vacation, we just go. No saving, no planning, no paying attention to the prices on restaurant menus, no trying to find cheap flights by booking months in advance or cramming everyone into a tiny car for a 20 hour drive.
Last year I was at a trade show in Vegas and on a whim a buddy and I decided to stay a few extra days and go on a road trip through the desert. We blew off our return flights, rented a car, and hit the road. Facebook checkin at the edge of Area 51, drove to Yosemite and spent a couple days rock climbing, went down to Sequoia and hiked to a couple of the summits, then cut across California and hung out in LA for a while before finally booking a return flight home.
It was spur of the moment, and I consider myself very fortunate to be in a position to be able to do that - ten years ago I'd have had to save up for six months to take a trip like that, and still watch the budget every step of the way.
Having a few bucks in the bank doesn't stop you from having fun with your friends - in fact, it creates more opportunities to do the things you enjoy doing with them. Wealth only changes you if you let it.
I remember being 19 years old, $150 in the bank, and the motor in my car blew up - and I had to spend half that on a tow truck just to get the car to the shop. For the repair, I had to borrow cash from 7 different friends over the span of two weeks (because they were all as broke as I was) and since I couldn't afford a rental car, I was bumming rides every day to get to work. Then when I was finally back up and running, I had to put every extra dollar toward paying my buddies back.
Take that same scenario today, and things would play out very differently. Someone would come to my house, pick up the car, drop off the rental, and bring it back when it's done - if I even wanted to bother fixing it. I might just say "screw it" and go buy something else. The point is, I have options. All I'd have to do is write a check.
If I want to take the family on a vacation, we just go. No saving, no planning, no paying attention to the prices on restaurant menus, no trying to find cheap flights by booking months in advance or cramming everyone into a tiny car for a 20 hour drive.
Last year I was at a trade show in Vegas and on a whim a buddy and I decided to stay a few extra days and go on a road trip through the desert. We blew off our return flights, rented a car, and hit the road. Facebook checkin at the edge of Area 51, drove to Yosemite and spent a couple days rock climbing, went down to Sequoia and hiked to a couple of the summits, then cut across California and hung out in LA for a while before finally booking a return flight home.
It was spur of the moment, and I consider myself very fortunate to be in a position to be able to do that - ten years ago I'd have had to save up for six months to take a trip like that, and still watch the budget every step of the way.
Having a few bucks in the bank doesn't stop you from having fun with your friends - in fact, it creates more opportunities to do the things you enjoy doing with them. Wealth only changes you if you let it.
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Anonymous
Rich is all relative. My story was an odd one. Founded an internet startup in the 90s that I sold 5 yrs in and netted >$1M after taxes on, at the ripe age of 19. I came from a lower middle class suburb, with parents who would've been hard pressed to fund college if I had needed it from them.
That said, after I sold the business, I was in an unusual position where I had little attachment or requirement and thought I'd be able to use the money to fund my personal development in any passions I'd want to pursue. Immediately, I decided I wouldn't excessively consume - no flashy cars, etc. In a way, I wasn't "rich" as my little nest egg didn't let me consume without abandon. I knew I had to be frugal to some extent if I wanted to hold onto it.
To insight: Two key feelings dominated.
1) I felt isolated. Other people in my social world didn't have my resources (and if they did, they inherited it, and I thought less of them for it), and I felt they all were usually jealous of what I had (versus them). At a certain point, interactions with others gave me a feeling of alienation as I was dismissed as a peer on some level, since I had success/money and how I was different from them. And on some level it was true, I had a different set of problems than before.
2) I was crippled by a fear of losing my new found nest-egg. As others have posted, now the idea of having to ever work 9-5 again as I did before I "made it" seemed almost as disastrous a consequence as losing health or getting struck by lightening. My new obsession became how to avoid ever having to work again. It kept me out of currency, and hindered my development and pursuit of another career. Took me more than a decade to "grow up" a bit.
So as the story went, I spent my twenties wandering, lost, and ultimately trying to figure out what I was going to do with my life. By late twenties (and by some consequence of a bit of erosion of my small nest egg through some poor investment decisions), I started to determine that I'd start from scratch, go back to school and start a new career. Papered up, got an MBA, and got my first "corporate" gig.
Did it for a few years until I couldn't take it any longer - I was too used to my autonomy and did not see the point of doing something where I had so little impact or appreciation, despite the stable income it provided. I finally went ahead and started a business pursuing my passion. Now with wife and kids and a smaller nest egg, I find I need to make some money be at least financially stable. But I know I want to do it on my own terms - doing what I love.
My next pursuit may make me very wealthy, perhaps much more than the first foray of selling my startup. But I know any wealth will have limited upside. I'm honestly more concerned of how I will prevent it from demotivating my children from pursuing their passions.
Lot of wisdom in this thread.
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Anonymous
“The most important thing in life is to be free to do things. There are only two ways to insure that freedom — you can be rich or you can you reduce your needs to zero.”
I almost got rich, and I have a pretty good shot at it again. The details aren't so important. But here are three things that guide me.
1. A guy I know is rich by most definitions, probably worth 2-5 million depending on the price of beef (he's a part time cattle rancher). Our sons were best friends and we spent a lot of time together. He's also a part time investment broker so I asked him one day about his truly rich clients. He said something I'll never forget. He said, what are you going to do with all the extra money? You already know 'that thing' you want to buy. But the real problem is how you stop from spoiling your children? I live in one of those areas of Southern California heavily populated by spoiled kids; that's not a joke question at all.
2. I've been making six figures almost 20 years now, and so I've always had this anxiety about being smart enough to be rich, but not lucky or connected enough, but more importantly too lazy to actually go for it. I met a brilliant engineer with beach houses in NorCal and SoCal who told me several years ago that when I grew a pair of balls, he'd show me how to do the 'Silicon Valley Shuffle' and shakedown VCs. For a variety of reasons, I never called him back.
3. About 6 years ago I met the guy who ultimately became my boss. We saw our field exactly the same way. When he finally offered me a salary he asked me if I could work for X dollars a year doing Y for the rest of my life. It was surprisingly easy to say yes.
So yeah I make enough money to be 'comfortable' in the American upper middle class - you know that typical frequent-flyer business douche. But then when the economy tanked, I became a bit embarrassed to be driving my 7 series BMW. I have accumulated enough junk over the years to have an actually worthwhile garage sale, and I have everything I need. Having my new job actually helped to convince me that I really wanted 'fuck you money' not because I needed the money so much, but I was dealing with a lot of people that needed to be told to fuck off.
These days I spend my spare time being something of a common sense middle class tourist. I drive a truck, and I build skills. I am working to actually learn how to fully take care of myself rather than spend money to hire other people to take care of me. Flipping that script was a revelation. The truth is that I can afford all of the ingredients to make myself a great life, but I thought for too long I thought I should just pay other people to do that cooking and preparation for me. Now I prefer to reduce my needs to zero. (But no, I still pay the dentist).
I almost got rich, and I have a pretty good shot at it again. The details aren't so important. But here are three things that guide me.
1. A guy I know is rich by most definitions, probably worth 2-5 million depending on the price of beef (he's a part time cattle rancher). Our sons were best friends and we spent a lot of time together. He's also a part time investment broker so I asked him one day about his truly rich clients. He said something I'll never forget. He said, what are you going to do with all the extra money? You already know 'that thing' you want to buy. But the real problem is how you stop from spoiling your children? I live in one of those areas of Southern California heavily populated by spoiled kids; that's not a joke question at all.
2. I've been making six figures almost 20 years now, and so I've always had this anxiety about being smart enough to be rich, but not lucky or connected enough, but more importantly too lazy to actually go for it. I met a brilliant engineer with beach houses in NorCal and SoCal who told me several years ago that when I grew a pair of balls, he'd show me how to do the 'Silicon Valley Shuffle' and shakedown VCs. For a variety of reasons, I never called him back.
3. About 6 years ago I met the guy who ultimately became my boss. We saw our field exactly the same way. When he finally offered me a salary he asked me if I could work for X dollars a year doing Y for the rest of my life. It was surprisingly easy to say yes.
So yeah I make enough money to be 'comfortable' in the American upper middle class - you know that typical frequent-flyer business douche. But then when the economy tanked, I became a bit embarrassed to be driving my 7 series BMW. I have accumulated enough junk over the years to have an actually worthwhile garage sale, and I have everything I need. Having my new job actually helped to convince me that I really wanted 'fuck you money' not because I needed the money so much, but I was dealing with a lot of people that needed to be told to fuck off.
These days I spend my spare time being something of a common sense middle class tourist. I drive a truck, and I build skills. I am working to actually learn how to fully take care of myself rather than spend money to hire other people to take care of me. Flipping that script was a revelation. The truth is that I can afford all of the ingredients to make myself a great life, but I thought for too long I thought I should just pay other people to do that cooking and preparation for me. Now I prefer to reduce my needs to zero. (But no, I still pay the dentist).
I don't think anyone will say being poor is better. Being rich is always better than being poor. And What makes you think that rich people can't have fun with family.
Let Me give you example of my Boss. He is the guy who is fucking rich. His company has a turnover of more than 2 billion USD and yes he works very hard. But what makes you think he can't have fun with his family? In May he went for 15 days holiday to Ibiza with his whole family ( wife, son, daughter, grad daughter, daughter in law).
On weekdays he works as hard as any other employee and reaches home by the time any normal employees reaches his home ( though he has some meeting scheduled at his home. He has a strict policy of no work from Saturday evening till Monday morning ( this is the time he spends with his family and parting every week). So tell me where is he loosing any fun as compared to any poor person.
Though he have various luxuries and have almost no contraints for any thing as he can have what he/his family wants and can do what he/his family wants.
Being rich doen't mean u can't spend time with your family. Though its the journey from being Poor to being Rich, which eats your family time, but once you are rich, your family time is back.
Being rich doen't changes anything, Its YOU who have to set his Priorities.
Finally below image from Wolf of Wall Street gives the answer in short.
Let Me give you example of my Boss. He is the guy who is fucking rich. His company has a turnover of more than 2 billion USD and yes he works very hard. But what makes you think he can't have fun with his family? In May he went for 15 days holiday to Ibiza with his whole family ( wife, son, daughter, grad daughter, daughter in law).
On weekdays he works as hard as any other employee and reaches home by the time any normal employees reaches his home ( though he has some meeting scheduled at his home. He has a strict policy of no work from Saturday evening till Monday morning ( this is the time he spends with his family and parting every week). So tell me where is he loosing any fun as compared to any poor person.
Though he have various luxuries and have almost no contraints for any thing as he can have what he/his family wants and can do what he/his family wants.
Being rich doen't mean u can't spend time with your family. Though its the journey from being Poor to being Rich, which eats your family time, but once you are rich, your family time is back.
Being rich doen't changes anything, Its YOU who have to set his Priorities.
Finally below image from Wolf of Wall Street gives the answer in short.
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Anonymous
I am in my mid 40's and have financial assets around the $3m mark. I have given some thought to wealth as the years have went by.
Firstly,
I am happy that i have made a small pile of money as a byproduct to working hard, efficiently and making good decisions through my working and personal life, this has given me personal satisfaction and i suppose self-vindication during moments of doubt.
I am not into conspicuous displays of wealth and have found that once you get past the 'nice house, got a car, don't have to worry about bills part' its really just a way to keep score with yourself as to how you are doing (purely from a monetary perspective). Its nice to have but it doesn't make me happy but it does stop me being sad by being uncomfortable with financial worry.
Secondly,
Yes its worth it but you have to be aware that money does change you and sadly in how some people will deal with/view you no matter how grounded you are. I definitely had a deep change of view on how i define what a friend is and have lost some people along the way. Its just a part of it as is the increased decisions you will be making and there will probably be a few sleepless nights. It is a different reality that's for sure.
Thirdly,
I now find real joy in simpler things. Others have posted their thoughts on the hollow effect and decrease in value of objects once they can be obtained simply. I understand this and can say that i have experienced it in Rolex and Porsche. Both objects i once desired. Once i had them it meant little and i own neither now.
This sounds negative but its really not, once you realise that 'stuff' is just that and its not important then you can grow as a person. Instead of striving to have 'stuff' you can go on your own personal journey. There is absolutely no way i would be thinking this way if i was still struggling to achieve financial comfort.
My most recent example of joy in simple things occurred in Japan in April. I was there with my son on a Father/Son bonding trip (i love that boy to bits) and we were sitting in Osaka park watching the Cherry blossom fall (ok, this was not a $50 trip to get us to this place but that's not the real point). I asked my son(19) if he would like an ice cream. We both chose the same ice cream, a handheld wafer cone with ice cream ball on top. We sat on the bench eating the ice creams watching the cherry blossom fall and then we had a joyful surprise. In Japan they fill the whole cone with ice cream, there is no dry cone sad end to the ice cream event. That's it right there, so simple. Ice cream all the way to the bottom of the cone for pure joy and way less expensive than a Rolex. Hope this makes sense. :)
The counterweight to wealth which i use in my decision making process is 'Just because you can, doesn't mean you should'. This keeps it real for me and i NEVER give myself anything just because i can. It all has to be earned. Ciao
Firstly,
I am happy that i have made a small pile of money as a byproduct to working hard, efficiently and making good decisions through my working and personal life, this has given me personal satisfaction and i suppose self-vindication during moments of doubt.
I am not into conspicuous displays of wealth and have found that once you get past the 'nice house, got a car, don't have to worry about bills part' its really just a way to keep score with yourself as to how you are doing (purely from a monetary perspective). Its nice to have but it doesn't make me happy but it does stop me being sad by being uncomfortable with financial worry.
Secondly,
Yes its worth it but you have to be aware that money does change you and sadly in how some people will deal with/view you no matter how grounded you are. I definitely had a deep change of view on how i define what a friend is and have lost some people along the way. Its just a part of it as is the increased decisions you will be making and there will probably be a few sleepless nights. It is a different reality that's for sure.
Thirdly,
I now find real joy in simpler things. Others have posted their thoughts on the hollow effect and decrease in value of objects once they can be obtained simply. I understand this and can say that i have experienced it in Rolex and Porsche. Both objects i once desired. Once i had them it meant little and i own neither now.
This sounds negative but its really not, once you realise that 'stuff' is just that and its not important then you can grow as a person. Instead of striving to have 'stuff' you can go on your own personal journey. There is absolutely no way i would be thinking this way if i was still struggling to achieve financial comfort.
My most recent example of joy in simple things occurred in Japan in April. I was there with my son on a Father/Son bonding trip (i love that boy to bits) and we were sitting in Osaka park watching the Cherry blossom fall (ok, this was not a $50 trip to get us to this place but that's not the real point). I asked my son(19) if he would like an ice cream. We both chose the same ice cream, a handheld wafer cone with ice cream ball on top. We sat on the bench eating the ice creams watching the cherry blossom fall and then we had a joyful surprise. In Japan they fill the whole cone with ice cream, there is no dry cone sad end to the ice cream event. That's it right there, so simple. Ice cream all the way to the bottom of the cone for pure joy and way less expensive than a Rolex. Hope this makes sense. :)
The counterweight to wealth which i use in my decision making process is 'Just because you can, doesn't mean you should'. This keeps it real for me and i NEVER give myself anything just because i can. It all has to be earned. Ciao
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Anonymous
I'm writing this from an Indian's perspective. I don't know the answer since I never 'got rich'. I live a middle-class life. I asked my grandfather this question since he made quite some money in his time. He's 85 years old. This is his response in my words.
"You see when I was young, the concept of rich did not enter our minds. Our goal was to live. The 'talk' in my native village in the 1940s was a simple statistic: For every 10 sent to the cities, 3 will survive. The life was different then. If you did not belong to a landed caste, you looked at your brothers and asked yourself everyday "How many of us will survive?"
As a small boy in my village, I saw that being able to read and write in English was a very powerful thing. I decided to learn English and educate myself. Over the next 10 years, I became known as the boy who studied. I earned the highest marks in my village when I matriculated high school. My heart was in mathematics. The nearby University in the city offered me a full scholarship and stipend to come and study. At the time, mathematics was not lucrative. My elder brother decided that I would study medicine. And so I did. I graduated with a Gold medal, and decided to go to England to study further. I worked as a Surgeon in the UK for a few years. I earned in Pounds to spend in Rupees. Later, I worked as Surgeon in India and earned some money here - by society's standards, I would have been called rich. I traveled the world, built a house, bought good cars, purchased objects, made investments and saved, all because I was rich at one point of time.
In my life, I never paid for my education. I saw education as a path to survival, and I survived so well that I became attached to learning. People all over the world paid me to study, to work, to do what I loved - to learn.
I think money is only the means to an end, and it not a means that deserves much attention. If your dreams need you to make money, make it. It doesn't make a difference. Happiness and experiences are what we remember, and what we cherish. Money can only buy you one part of experience. If I can suggest something - it is this. Find something in life that challenges you, and that you like. If you have the luxury of room and board, take your time to find it. Then, spend the rest of your life mastering it to perfection. Money and everything money can buy will come on its own."
"You see when I was young, the concept of rich did not enter our minds. Our goal was to live. The 'talk' in my native village in the 1940s was a simple statistic: For every 10 sent to the cities, 3 will survive. The life was different then. If you did not belong to a landed caste, you looked at your brothers and asked yourself everyday "How many of us will survive?"
As a small boy in my village, I saw that being able to read and write in English was a very powerful thing. I decided to learn English and educate myself. Over the next 10 years, I became known as the boy who studied. I earned the highest marks in my village when I matriculated high school. My heart was in mathematics. The nearby University in the city offered me a full scholarship and stipend to come and study. At the time, mathematics was not lucrative. My elder brother decided that I would study medicine. And so I did. I graduated with a Gold medal, and decided to go to England to study further. I worked as a Surgeon in the UK for a few years. I earned in Pounds to spend in Rupees. Later, I worked as Surgeon in India and earned some money here - by society's standards, I would have been called rich. I traveled the world, built a house, bought good cars, purchased objects, made investments and saved, all because I was rich at one point of time.
In my life, I never paid for my education. I saw education as a path to survival, and I survived so well that I became attached to learning. People all over the world paid me to study, to work, to do what I loved - to learn.
I think money is only the means to an end, and it not a means that deserves much attention. If your dreams need you to make money, make it. It doesn't make a difference. Happiness and experiences are what we remember, and what we cherish. Money can only buy you one part of experience. If I can suggest something - it is this. Find something in life that challenges you, and that you like. If you have the luxury of room and board, take your time to find it. Then, spend the rest of your life mastering it to perfection. Money and everything money can buy will come on its own."
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