11–19 of 19 posts
Earlier quoted context omitted.
Its also not clear how easy it is to get that kind of net worth if you live a fairly normal and modest life. Lunch with the president is not just about bragging rights. If you are rich enough, it can pay for itself.
I think basically entrepreneurship is your only shot. Finance maybe, but probably not
This part of the post is what amazes me the most. "PERSPECTIVE. The wealthiest person I have spent time with makes about $400mm/year. i couldn't get my mind around that until I did this: OK--let's compare it with someone who makes $40,000/year. It is 10,000x more. Now let's look at prices the way he might. A new Lambo--$235,000 becaome $23.50. First class ticket internationally? $10,000 becomes $1. A full time execut…
In a way these are not life changing events. Whether I travel coach or by private jet is largely irrelevant to me. A bigger impact on your life would be any of the following. - Your health and exercide. - The strength of your relationships. - Having 1 or 2 close friends. - Being grateful for what you already have. - Enjoying your work. - Having a dog. - Learning new things. - Giving back.
In a way these are not life changing events. Whether I travel coach or by private jet is largely irrelevant to me. A bigger impact on your life would be any of the following. - Your health and exercide. - The strength of your relationships. - Having 1 or 2 close friends. - Being grateful for what you already have. - Enjoying your work. - Having a dog. - Learning new things. - Giving back.
Perspective is the most essential thing here. Most people would probably see 1 million not much different from 1 billion (I mean they know it's different, but not much since it's just a big number). "A suite at the best hotel in NYC $10,000/night is $1/night", this hits me hard.
In a way these are not life changing events. Whether I travel coach or by private jet is largely irrelevant to me. A bigger impact on your life would be any of the following. - Your health and exercide. - The strength of your relationships. - Having 1 or 2 close friends. - Being grateful for what you already have. - Enjoying your work. - Having a dog. - Learning new things. - Giving back.
In a way these are not life changing events. Whether I travel coach or by private jet is largely irrelevant to me. A bigger impact on your life would be any of the following. - Your health and exercide. - The strength of your relationships. - Having 1 or 2 close friends. - Being grateful for what you already have. - Enjoying your work. - Having a dog. - Learning new things. - Giving back.
I've got a few of these things going for me, but I'm still terrified of the future. And I know it doesn't make logical sense. I'm young, and just this year made six figures for the first time, saving plenty of that for the future. But I'm haunted constantly by the worry that something might happen and I lose my ability to work and earn so I'm unable to save up for and provide for a family I might have in a few years.…
Very interesting. This guy not only seems to attract rich people, but rich people who display their wealth. I wonder how "hard“ it is to live a fairly normal, modest life with that kind of net worth. Could you restrain yourself and not buy that Porsche? It‘s hard to say if you‘re far away from being able to afford things like that, and content with it. It‘d surely weaken the problems with relationships they mention a…
> but rich people who display their wealth This is the key IMO. I know a few people who fall into various of the categories mentioned and, well, you wouldn't know it meeting them. The place they live is probably the only real tell besides maybe watches and acessories. Apart from the occasional splurge - weddings, the occasional destination getaway - they're pretty thrifty. They didn't get rich by throwing money aroun…
I've also had the privilege of knowing some people that fall into the categories from $1MM to $1B+. You couldn't tell which bucket they belong to just by meeting them. The down to earth guy who's just a dad to the kid on your soccer team, yeah he's worth $3 billion, but bikes everywhere. You son's best friends parents? They're normal, but have a 6k square foot home in the downtown area of a major city, but shop at Costco and only own one (nice, but used) car.
Agree that the flashy folks are the ones at the lower end of the spectrum. They've gotten some cash and are a) showing off and/or b) trying to enjoy it.
One of the biggest changes I've noticed (and have noticed this of myself as my career and income have progressed) is that you're aware that you are paying more for things, and therefore expect more. This definitely can create the appearance (and occurrence) of entitlement.