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Ask HN: It seems like everyone is getting rich?

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61–70 of 112 posts

Re: Ask HN: It seems like everyone is getting rich?

#61
post #44

FOMO. This is what causes bubbles. Of course it isn't any consolation that people can keep getting rich off of overpriced assets for a long time. As the saying goes, "The stock market can remain irrational longer than you can remain solvent." In this case however, you aren't going insolvent, just suffering jealousy. I'm not saying to jump in - the crash my come tomorrow. Or I'm not saying don't jump in - the asset pr…

I'm not sure what exactly you mean by FOMO but the problem with bubbles is that the return on capital exceeds the return on work so people simply stop working. It is highly problematic with money and land because those are basically what the entire economy is built on. You can't run away from them which is what makes the cycles so devastating.

Re: Ask HN: It seems like everyone is getting rich?

#62

Aquire something Money can’t buy, like a skill. Then take solace in the thought that money can (did) lose all its value over night, while the skill you acquired remains. Also think about that it’s easier to find true friendship when you have little more to offer than yourself. Basically stop glorifying material wealth. I know, easier said than done :)

The vast majority of people's wealth consists of their own body and mind. People always say how inflation hits the poor but if they spend all their money and switch jobs frequently to get raises with inflation it is basically neutral to them because all their wealth is stored in their body and mind.

The real problem is that during inflation and negative interest rates monopolies like land become stronger and can take a bigger chunk of your income.

Re: Ask HN: It seems like everyone is getting rich?

#63

How do you not become discouraged? You don't have your identity in doing better than everyone else. And you don't have your happiness in how much money you have or in what you can buy. And how do you do that ? Aye, there's the rub. I think you do it by having your identity and your happiness somewhere else. You need more than just "not there". You need a specific somewhere else. For me, it's in Jesus Christ and his l…

That HN submission about hard work rubbed me the wrong way. Because people said that being the best is the only thing that matters you literally shouldn't even try if your IQ is too low. The idea that everyone is trying to become the best is wrong. Everyone is trying to find their place in this world and that may sometimes involve trying to become the best.

I don't know why but everyone seems to forget that the average human becomes amazing (not the best) given enough time and opportunity to develop.

Re: Ask HN: It seems like everyone is getting rich?

#64

It is not true, you see it because people like to brag. But they prefer to hide their problems, sometimes very deep. The society discourages talking about these things unless you are close friends. Whereas positive aspects are amplified. I give you an example. I have a couple of friends with two kids. They have an amazing FB/Instagram feed. You immediately see a wonderful model family living in a beautiful house, tra…

> But the most depressing was a bad smell from nearby chimneys of their neighbors. Apparently they couldn't do anything about.

This is fixable, but requires central air in the house. Just don't ever open your windows in the smog season, and have all air intake go through a set of filters (before it's pumped into the rooms) which take out all particles and smells. Not the cheapest thing to buy and install, but should solve the problem.

Re: Ask HN: It seems like everyone is getting rich?

#66
post #35

I am discouraged, and that's ok. There are plenty of people who are worse off. There's a Japanese mindset/idea that the best you should hope for for your children is for them to be average. This is statistically sound and reduces the hurt that one would feel when their child is not above average as well as provides more joy if they do happen to exceed expectations.

Sounds contrary to the Asian parents stereotype.

Re: Ask HN: It seems like everyone is getting rich?

#68
post #44

FOMO. This is what causes bubbles. Of course it isn't any consolation that people can keep getting rich off of overpriced assets for a long time. As the saying goes, "The stock market can remain irrational longer than you can remain solvent." In this case however, you aren't going insolvent, just suffering jealousy. I'm not saying to jump in - the crash my come tomorrow. Or I'm not saying don't jump in - the asset pr…

I'm not sure what exactly you mean by FOMO but the problem with bubbles is that the return on capital exceeds the return on work so people simply stop working. It is highly problematic with money and land because those are basically what the entire economy is built on. You can't run away from them which is what makes the cycles so devastating.

FOMO = fear of missing out

Re: Ask HN: It seems like everyone is getting rich?

#69
post #66
post #35

I am discouraged, and that's ok. There are plenty of people who are worse off. There's a Japanese mindset/idea that the best you should hope for for your children is for them to be average. This is statistically sound and reduces the hurt that one would feel when their child is not above average as well as provides more joy if they do happen to exceed expectations.

Sounds contrary to the Asian parents stereotype.

Not really. They still push them to be the best they can be. It's just that the expectations are more realistic.

Re: Ask HN: It seems like everyone is getting rich?

#70
I find it much more enjoyable to be great at many things, have some financial stability due to having an average job in tech than making millions by being C-level on a trashy company like Facebook but unable to do any sort of physical activity and enjoying very little of what nature has to offer, just seeking as much comfort as you can, you can look for adventure. Adventure is just everywhere and is generally free or cheap. It will make you stronger and little by little will make you less worried about those rich people and rather appreciate how life managed to shift you to the most wonderful road one could be, of self-discovery, of finding a bigger truth, of empathy.

I climb, I skate and so on. I read philosophy, I have time to invest on myself on things which won't generate capital for me and I find it very amusing that even with that, I can still have a huge degree of financial freedom, as long as I work 8h a day 5 times a week and a small, but growing investment portifolio.

If you would work at a FAANG, or even be a C-level there or at a startup, there is no way you could be climbing and enjoying things on your 20s or 30s. By the time you would "make it very big", you would already be too old for this kind of things, not really health or body-wise, but you would be too attached to comfort. If you are more adventurous, you would actually look for opportunities that you could sleep on the floor, have some food deprivation and a hard adventure to test your limits. It's much more exciting than going to the office, doing politics and all. We aren't made to work in such artificial environments and that is why you and a lot of people are sad.

For me personally, I enjoy going to work, could be a few less hours and I would be happy with it. Even studying coding is nice. But I also need to go to nature, hug trees, climb mountains, hurt my foot and body whist doing it, accepting the discomfort of life as it is, in order to appreciate it. I would kill myself if all I had to do was to work, take care of kids and have expensive and comfortable travels. The best things in life are free or cheap. A kiss. A laugh. A new route.

Recently with my wife we've decided for ourselves that we don't need a kid and would rather enjoy life. There is a grind in having kids and at least 9 out of 10 friends I have that went this route are unhappy. Why have kids if I am already enjoying my journey?

Therefore, I can't be discouraged or distracted because people are doing so much better as you say, because this isn't better for me. If all you do is work and you aren't making as much as them, I feel sorry for you, maybe you are more like me, a monkey-man, that goes to the office and after work goes climbing. Or do anything else. If to be homo sapiens means to accumulate capital and shoot rockets to space, I don't belong there.

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