Detachment from Money

[nokomisjeff]

Quote from nutmeg:

Best way to be detached from money is to use OP's money.

Fer example:

Trump started out with his Dad's money. Probably every deal he's made since has been using some other investors money in real estate.

Same goes with fund managers.

The rest of us little people have to sweat it out with "our" money.


The only way we can get detached from our money is to invest/ risk and to sleep at night.

Unless one is net profitable, it is never wise to use other people's money as that leads to a loss of friendship and status and causes great problems in the personal life of the one who is using OPM

 

[cervie]

Quote from zdreg:

a lot of people are very unhappy knowing they owe certain people money.

Alot of people, including the fund managers, made horrid trades due to not having skin in the game. Funny thing that i hear all the time, "so if i give you like $5,000 or $10,000: what could you guarantee me?" I personally don't think i could ever trade someone else's money. The last thing i want is a phonecall and have to express to someone what happened that day.

 

[J Ski]

Cervie, I got an offer to trade for a buddy, but I am not opening that can of snakes.

 

[Handle123]

I lost value of money long ago, it just represents a way to keep score I guess. I much more keep close eye to percentages. Money doesn't bring happiness, doesn't really bring much of anything, can't pay for good health. Although, in my beginning which I don't remember much of any more, I suppose making a ton of it was supposed to have me on some beach soaking up the rays, but like in any game one is so absorbed in playing, the beach is for someone else's play while I worked harder to bet better, LOL.

 

[dandxg]

Quote from Handle123:

I lost value of money long ago, it just represents a way to keep score I guess. I much more keep close eye to percentages. Money doesn't bring happiness, doesn't really bring much of anything, can't pay for good health. Although, in my beginning which I don't remember much of any more, I suppose making a ton of it was supposed to have me on some beach soaking up the rays, but like in any game one is so absorbed in playing, the beach is for someone else's play while I worked harder to bet better, LOL.

True and yet it's really hard to be happy without any money. Sure the pigmies get along but I don't want to live in a hut or on a street corner.

I just need to learn how to shelter my assests like Trump use OPM and then so sorry, LOL.

I recently went to FL for vacation and the realtor told me you can homestead the entire value, maybe I should move there LOL. Texas is supposed to be good for that too.