If you just received 5 million dollars

[dbphoenix]

Quote from Kevmeister:


Why are so many wealthy people unhappy.

Who says they are? The poor like to believe that the rich are unhappy, but it isn't so. As a group, they're no unhappier than anybody else. But they eat better.

 

[axeman]

Yup... much of this garbage is just the have-nots way
of making themselves feel better.
Nothing but a self defense mechanism.

peace

axeman

Quote from dbphoenix:



Who says they are? The poor like to believe that the rich are unhappy, but it isn't so. As a group, they're no unhappier than anybody else. But they eat better.

 

[plumlazy]

Quote from Error 404:

A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into perspective in one of its releases:

A billion seconds ago it was 1959.

A billion minutes ago Jesus was alive

A billion hours ago our ancestors were living in the Stone Age.

A billion dollars ago was only 8 hours and 20 minutes, at the rate Washington spends it.

In other words, * Time is more important than money*

 

[iceman1]

Quote from Kevmeister:

Sit back and really think......real hard....use some imagination....what would you do if you just received 5 million dollars.

Would it change the person you really are. Why would it make you happy? How would it change your life.

Oh, yes....you're thinking of all the materialistic things you could buy....would that make you happy?

What happens when you've spent all your money and you're sitting in your big fancy house, driving your big fancy car, wearing your fancy clothes....Have you changed? for the better?

Remember, you still have to live with yourself.

Why are so many wealthy people unhappy. Do you really think it will make you happy? for the long term?

Kev

No huge house... or fancy car. But I would try to pull off a Thomas Crown caper with no one getting hurt. That's always been my fantasy; including the beautiful blonde! Talking here about the real one... McQueen/Dunaway!

Ice

 

[indahook]

Quote from DHOHHI:



But ... I'm guessing you worked hard to get to "the other side". Sadly I've seen cases of people with little money winning a lottery and blowing it in a short time due to their need for "happiness" and instant gratification. I think the big difference is one who works for the money and reaches a level of success is more disciplined in HOW they spend the money ... since they know the sweat equity that went into it ... and one who comes upon a windfall is happy only as long as the money is flowing freely.

I make less trading than I did in the corporate world but I'm a hell of a lot happier.

Agreed.

 

[vanilla2]

What is your free time worth to you?

Everyone has their own equilibrium between the utility of their free time and the utility of financial security. My free time happens to be worth much more than a 9-6, 90k a year existence. Be free, then rich, not vice versa. Just my .02.

I couldn't even conceive of this lifestyle when I was grinding 9-5, and now I can't conceive of how I worked for someone else for so long. Wealth will mean more to me when I've built it from the ground up, than having it handed to me for doing someone else's work. Did you know America has scrapped 20 work holidays since 1970? I think it's a mostly an American notion that you need exceptional wealth to have a good life.

 

[Error 404]

Quote from gnome:

A woman here in Colorado won $5Million lotto.

She met a Financial Adviser who "advised" her to factor out the annual income stream into a lum sum. She did, turned it over to him. He defrauded her (and others).

Jim Donahue?? In Denver?

If so, she had a lot of company. If it was ten years ago or more, he would be my bet. I met the guy. Actually tried to do business with him. But after spending 5 minutes in his office I knew he was so crooked he could hide behind a corkscrew.

(Donahue was big...but man, there were a LOT of scumbags in Denver. Meyer Blinder comes to mind. For a "small" city Denver seems to have had an outstanding percentage of crooked "investment" scam artists)


RS

 

[dbphoenix]

Quote from DHOHHI:

Sadly I've seen cases of people with little money winning a lottery and blowing it in a short time due to their need for "happiness" and instant gratification. I think the big difference is one who works for the money and reaches a level of success is more disciplined in HOW they spend the money ... since they know the sweat equity that went into it ... and one who comes upon a windfall is happy only as long as the money is flowing freely.

This is one of those epiphanies that one must reach if he is to make any progress toward financial security. The rich didn't get rich by throwing their money away. If they had thrown it away, they wouldn't have any. Duh!

The rich are rich because they manage their money well. This is true even with inherited wealth, which can rarely last through more than a generation of mismanagement.

 

[axeman]

Exactly. My friend always complains about how greedy
his landlord is, and how incredibly tight the landlord
is with his money. He can't comprehend why someone
worth millions is so tight with his money.

I tell him he has it backwards. He is worth millions
BECAUSE HE IS SO TIGHT WITH THIS MONEY

Live well below your means.

peace

axeman

Quote from dbphoenix:



This is one of those epiphanies that one must reach if he is to make any progress toward financial security. The rich didn't get rich by throwing their money away. If they had thrown it away, they wouldn't have any. Duh!

The rich are rich because they manage their money well. This is true even with inherited wealth, which can rarely last through more than a generation of mismanagement.

 

[DHOHHI]

Quote from vanilla2:

What is your free time worth to you?

Everyone has their own equilibrium between the utility of their free time and the utility of financial security. My free time happens to be worth much more than a 9-6, 90k a year existence. Be free, then rich, not vice versa. Just my .02.

I couldn't even conceive of this lifestyle when I was grinding 9-5, and now I can't conceive of how I worked for someone else for so long.

I don't think you can put a price tag on free time. And another benefit of trading is one can choose where they want to live ... and not be living in a place due to the job being there. I think ones surroundings also impacts their overall happiness. And then, the commute down the hall beats the heck out of driving in rush hour traffic day after day. It's "benefits" like these that motivate me to stay focused on success in trading so that I'll never have to go back to the corporate grind.