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Why Aren’t Rich People Happy With the Money They Have?

theatlantic.com

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Re: Why Aren’t Rich People Happy With the Money They Have?

#251

I'm a regular participant on 'Bogleheads' forum. If forum posters are to believed, there are quite a few high net-worth individuals there. Many are motivated by 'the game'. But I am not depressed by this. On the contrary, it seems to me that most take care to use their money in constructive ways. They seek to find ways to build better futures for those that will follow them. Some even pledge to give a bunch of it awa…

Whether they are good people or not really depends on what they would do to make their money, rather than how they would spend it.

The lengths one would go to to become rich rather then where a rich person throws the breadcrumbs of what they already have truly defines them, and also, what evil may be created in this world.

Re: Why Aren’t Rich People Happy With the Money They Have?

#252

I’m immediately reminded of the denouement of “This is Water”: https://m.youtube.com/watch?v=PhhC_N6Bm_s . It’s become/ perhaps always has been a little trite or on the nose, but it’s also not wrong. If you worship money and things-if they are where you tap real meaning in life-then you will never have enough. Never feel you have enough. It's the truth. Worship your own body and beauty and sexual allure and you will…

It’s a nice thought, and gives a sense the world is fair. But it doesn’t ring true to me. Some people are hot, and they know it. They do not feel ugly. Ditto for intelligence.

They don't stay hot forever, though. They eventually grow old and wrinkly and gray and sick. You could argue that they're still hot that way, but most people will choose the young hot person over the old hot person.

That's what it's saying that "when time and age start showing, you will die a million deaths before they finally plant you." I.e. you will start to lose that beauty in many different ways, no matter how desperately you try to hold on to it, with plastic surgery, spending all your time in the gym, etc, and you will no longer be able to win your internal game of being more beautiful than others that you valued so much, before you have died (unless you die young, then... I guess you win, if you call that a victory).

And for intelligence, a common saying is "The more I know, the more I realize I don't know". An intelligent person will just see more and more out there they could be learning and aren't, or don't understand and want to, and no matter how accomplished or smart they are, they can probably always find someone smarter and have used their intelligence more effectively over the years.

There's a game designer named Chris Crawford, for instance. Really smart guy, designed some classic games in the early Mac years and worked for Atari way back in the early days. But at one point he left the game industry because he saw it going the wrong direction for interactive storytelling and started building a storytelling game engine called Storytron that was super ambitious, could tell dynamic cinematic stories and was super complicated. He started building that about 26 years ago now. It still isn't built. I'll let him use his own words:

"In 1992 I dedicated myself to the task of making games that centered on character interaction. It was about then that I settled on the term “interactive storytelling” to describe my efforts. This was long before anybody else was thinking along such lines (although Brenda Laurel had speculated about drama in games a few years earlier). I remember how my friends in the games industry told me that I was absolutely crazy to pursue this line of development -- nobody was interested in stories in games. I know this is difficult to believe now that everybody is talking stories, but it really was the case that, in the early 90s, nobody thought that stories had any place in games. The biggest hit of that time was Doom, and the team that developed it had famously split apart over a dispute regarding the role of story. The winning faction insisted that “we don’t need no stinking story -- action is all that matters”. The rest of the games industry applauded their clarity of thinking. Stories were for wimps.

As the years rolled by, I pursued my lonely quest, picking up a few like-minded idealists along the way. With little financing, it was slow, painful going. We made a major push starting in 2007, but in the summer of 2009 it became clear that we had failed to garner any support. I put Storytron into a coma and contemplated my future.

Thus, when my sixtieth birthday struck, I found myself bereft of achievement in my most important undertaking. I have always felt a calm self-assurance that I am right, that I have developed ideas that would surely conquer the world if I only gave the world enough time to recognize them. My sixtieth birthday shouted loudly that my ideas had most definitely failed to conquer the world. It certainly looks as if I am a washed-up failure. I don’t really believe that -- I still believe that I’ve hit upon a solid approach to interactive storytelling and that someday the world will appreciate my work. But with each passing day the evidence of my failure mounts."

In fact, on that same link, he downplays his own intelligence by comparing himself to others, exactly what I was just arguing: "I do not consider myself particularly intelligent; I have known some real geniuses and the feeling of utter inferiority I feel in their presence drives home the mediocrity of my own intelligence."

I feel he's being too modest. I've read a lot of his writings and feel that he's a super smart guy and I've learned a lot from him. But here he is seeing other smarter people out there and comparing himself to him and finding himself coming up short.

I also think I'm pretty smart, at least in some respects, and used to value that over just about everything else. But eventually you don't find the success you thought you would, or all that learning doesn't lead to breakthroughs or opportunities you thought it would, or you spend your time on dead ends, sometimes out of necessity, sometimes by taking a chance on something and failing, and that's when 'worshipping' intelligence will fail you.

Source: http://www.erasmatazz.com/personal/self/sixty.html

Re: Why Aren’t Rich People Happy With the Money They Have?

#253

There was a well written comment on Reddit a few years back about how your life changes at different levels of wealth: https://www.reddit.com/r/AskReddit/comments/2s9u0s/what_do_i... The main gist was that in the $10-30 million range you can live a comfortable life without having to worry about finances again. In the $30-100 million range you can start doing "rich people" things like have a private jet (though this m…

> in the $10-30 million range you can live a comfortable life without having to worry about finances again This statement strikes me as very disconnected from the reality that the vast majority of people on this planet live in, and honestly, a little bit irritating. I'm well aware that many here on HN would be millionaires, but as somebody who grew up in poverty and is now a full-time uni student with no savings in t…

It is a bit outlandish. There's plenty of people on HN who aren't millionaires (at least not yet, and when they are, maybe they'll stop working). But maybe they're smart enough to avoid this thread.

Improving your life in the least bit is the whole point of life itself. Being that as you grew up in poverty, came from nothing monetary wise, and are already in school you're already doing better than you were imagined to.

You'll go far; it takes a long time.

Knowledge of investments will take you far in life. Ferraris are (fast)depreciating assets that take a lot of time and extra expense, they're simply not good investments unless you're a race car driver. Not when a Toyota will do the same for you.

Whenever you can, take care of your teeth. Eventually, they can hurt more than just your mouth.

I wouldn't apologize. You're just being real.

Re: Why Aren’t Rich People Happy With the Money They Have?

#254
post #249

Earlier quoted context omitted.

And this yet another example of the HN bubble. My parents retired at 55 and 57 in a small town and have never worried about money. My dad had maybe a million in retirement as a factory worker and my mom retired with a pension as a school teacher. My mom did low pay volunteer work as a consultant for a few years after she retired, but now they are in their mid 70s and not “worried” about money between social security,…

This is a good example; no one has to worry about finances for the rest of their life if what they've already saved up can sustain them for the rest of their life. Just as a squirrel doesn't need be concerned with finding food again if its nestegg is properly stocked. So many people are so concerned with The Jone's and new cars and high-expense lifestyles that it requires a very different kind of number. It's a formu…

I could come up with a lifestyle where my wife and I could live off of $200k, a paid for house and social security if the social security amounts that we would be entitled to now don’t change when we are retired (inflation adjusted). It wouldn’t even be a hard life that wouldn’t allow us to have some fun, travel, etc.

Re: Why Aren’t Rich People Happy With the Money They Have?

#256
post #204

Earlier quoted context omitted.

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> Capitalism means free markets.

No, it's a model of property rights. “Free markets” are a slogan, but not even a particularly coherent concept much less a concrete thing that is present in capitalism.

Re: Why Aren’t Rich People Happy With the Money They Have?

#257
post #76

Earlier quoted context omitted.

In terms of machine learning money is the opposite of regularization. The more money the less regularization the more over-fitting to your specific self-chosen environment. A not rich person will have to learn to cope with obstacles. A rich person can remove obstacles. But it is impossible to remove all obstacles which will lead to increased hostility towards those remaining annoyances - like for example with SUVs in…

Money is an insanely toxic mental, political, and social poison, for exactly these kinds of reasons. It's also a social reward function that privileges egotism and narcissism over empathy; exploitation, scamming, and rent-seeking over creativity, curiosity and invention; and short-term gain over long-term damage. Like the hardest of hard addictive drugs, it's an almost irresistible modifier of behaviour and attitude.

I wouldn't be surprised if it also happened precurrency as well. We aren't dogs but one thing known to make them potentially more aggressive is having larger "territory" it thinks it must defend.

That was useful behavior for guard animals but not universally For vast periods of time you want them to bark at intruders, cattle rustlers and predators but not mauling small children or innocents who may leave you liable.

Essentially it may be the power that does it technically.

Re: Why Aren’t Rich People Happy With the Money They Have?

#258

Earlier quoted context omitted.

Just imagine if you lived in a society that had good public schools, health and dental care.

The weird thing is I come from a place that's said to have all those things. Not my opinion, but a lot of Americans hold up Scandinavia as such.

And it doesn't?

Re: Why Aren’t Rich People Happy With the Money They Have?

#259
post #17

A while back I noticed that my HN karma was rising at a rate that would put me on the leaderboard, so I decided to make an effort to submit content and post quality comments just to see if I could crack the top 100. After a few months I did it, and kept rising up to a high of 85 (today I'm #88). Then I realized I was spending way too much time on HN, and how easy it was to fall into this trap of thinking I was doing…

I've installed browser extensions to turn off karma/points on as many sites as I can find. For me this has worked well.

I still kid my wife about "internet points" when I take a photo for Google Maps and the like, and I totally empathise with you on the feeling of seeing that number, but for my own peace of mind I've had to restrict myself from it.

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