Confessions of a Hectomillionaire

[luisHK]

Best years for me were probably in my late 30s btw,, abt 10 years back, lot of stress but lot of fun, succesful business, young kids, looking less athletic than now , but also much younger.

Below is the first article that came up througha google search, which goes along the lines of the above. Remember other studies that found older people were feeling the happier.

https://theconversation.com/at-what...t-new-research-offers-surprising-clues-156906

 

[M.W.]

Out of curiosity and because I find your posts quite insightful plus you have been around here for quite a long time, which specific users would you list that have contributed trade and risk management specific gold nuggets in your opinion? There is an all time classics thread but even that is of very mixed content.

Some actions are definitely age specific, hard to do them again once you age too much, or hard to do them before having a certain degree of experience or/wealth.
Having enough money to live off and kids bring peace and purpose I couldn´t attain at a much younger age. Growing old on the other hand is frustrating.
Was lazy to pursue great wealth (didn´t see a way with great odds on how to do it either) once I was more or less settled for life, and chose to live off passive income, but can´t say it´s an especially good option.
Don´t have a clear opinion on the matter btw, interesting topic, just thought the "Everyone was more authetically (sic), and naturally, happier when they were younger, dumber and poor." is very naive. Not much I regret from my youth for one, being poor sucks, and a rough awakening to life didn´t help (although it probably helped in the business world, which is not exactly soft hearted).
Those threads remind me of @rallymode btw, not sure whether he´s still active here, an apparently very successful trader posting occasionally here who seemed to think one shouldn´t engage on very high working hours and financial risks to pursue great extra wealth once they are already comfortable financially, always enjoyed his posts.

 

[VicBee]

This is an ethereal subject I enjoy a great deal, being in my very late 50s and looking towards the sunset.
Character - I think leaders in enterprise or government are decisive; that's why they are where they are. That character trait is something some people are born with while others become that way through trial and tribulation. From my experience, decisive people have little patience for indecisive people, and personality then determines how they treat people around them. Every appreciation of a leader is based on how one sees their relation to leadership in general and the leader in particular, from envy to submission.
Retiring from a leadership career is difficult, particularly when there is little remnant prestige attached to it. Much marketing is spent on incentives to buy things as reminder to self and others of our achieved social status. Some (many?) never stray from that bubble, for fear of facing our simple human self among others. An attractive, greying, middle aged former leader is an old person to anyone on the street under 35, make no mistake about it. The same person pulling out of a luxury car is instantly interesting to those same under 35. It's that schism that is difficult to adjust to. Is anyone ever deserving of hierarchical respect outside the hierarchy? Respect due and respect earned are two different things, and those leaders able to adjust and adapt to their new identity are the better for it.

But what happens when wealth comes suddenly? Lottery, trading, investments, stock options, inheritance... There are many ways to become excessively rich without having climbed a corporate ladder, developed the character or gained peer respect that comes with wealthy leaders. How does one adjust their character and personality to match their new social status? Some say they just remain the same, which is excessively difficult, because even friends and family will modify their behavior and expectations even if simmingly you don't. Beside, new wealth is often associated with splurging on conspicuous consumption. What's the point of wealth if no one knows you're wealthy?

I'm far from wealthy, but circumstances in 2019-2020 and successful trading allowed me to retire early and have enough to live a life of my chosing until I'm ready to hang up. That unexpected freedom has given me a sense of peace I never had and I'm greatful every day for it. I am different because so much more relaxed and confident but I think I've retained my core values. Yet, it is disarming when finding how "friends of 40 years" have reacted to my changed situation. Sometimes the comments can be painful, if not hurtful. At times I'm more comfortable mingling with people who don't know me. Sometimes I realize that I'm losing touch with everyday people and their daily struggles, which pains me.
At the same time, my trading and investment wealth can disappear in a way that would force me to reconsider some decisions. I'm not so wealthy to be beyond catastrophy, which is why I continue to trade and hope to hit another bull market sometime in the coming years. I'm just a step above the average and even that has triggered many of the questions the OP brought up.

 

[luisHK]

which specific users would you list that have contributed trade and risk management specific gold nuggets in your opinion? There is an all time classics thread but even that is of very mixed content.

Sorry M.W., don´t think I´ve read many threads on this topic over the last few years and can´t point you to anyone, fwiw a poster I take seriously when he´s talking about investments is @newwurldmn (his name sprang to mind coz I bought some FSK after reading a post of his a couple of days ago), but there are probably quite a few more who deserve to be read on this forum.

 

[newwurldmn]

Sorry M.W., don´t think I´ve read many threads on this topic over the last few years and can´t point you to anyone, fwiw a poster I take seriously when he´s talking about investments is @newwurldmn (his name sprang to mind coz I bought some FSK after reading a post of his a couple of days ago), but there are probably quite a few more who deserve to be read on this forum.

i appreciate that. Thank you for the compliment.