Live happy, hide your wealth?

Quote from ElectricSavant:

I can agree. Live within your means. But if you have wealth, just find ways to keep it busy. Never think that you are safe. Create efficiency to tie up your wealth to where you really do not have it at your disposal. I think Warren Buffet has mastered this (I think).

Some say it is a full time job to find investments for your wealth and sometimes there is just a lot of cash on the sidelines. But the mindset is efficiency, diversification and value. You must ask yourself always do I really need this? Focus on that and you will be really happy with your wealth.

I am having trouble trying to communicate all my thoughts on this. Usually I can write but this is difficult to convey the mindset.

There are two ways to look at this:

Poor people try to get it

Rich people try to keep it.

ES
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Savant!!!!

Welcome back. Glad you are not dead.

Nice post, so far. These noobs are just now realizing what trading properly can bring.

Noobs, when you figure it out,please, be quiet. You will make enemies you never knew you had. My mother and uncle( who is a real estate multi-millionaire flipped out when I told them I was talking about what I do.) I also had one the Mavs several years ago PM me and say, congrats, now shut your mouth.

I said that to say that if you know what is going on, keep it to yourself and live very far below your means until you reach a point that you can completely insulate yourself from people who may be envious of you.
 
Quote from kidPWRtrader:


I don't think there is a single example on Earth where money has brought true happiness. No one accumulates enough to be satisfied because this is not possible. Happiness is easy, but the accumulation of more things is the exact opposite of the formula towards it.

Now, the getting rid of money for a good purpose... that's another topic.

Live as abundantly as you need to accomplish your divine purpose in life. Thinking you need to be poor or rich in a means of itself, are both traps that won't lead you any closer.

As to hiding your wealth, I say share it so that you may get back the stuff that matters the most. This doesn't mean you can't have your sports car, but that your greater attention should be placed towards other things that really matter.

All the best, great question :).
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+1....i would add that-although wealth is tangible, its true nature in our psyche is very subjective...we have all seen this as we go through life- for some, all the money in the world, could not make them any happier or thankful, and for others-they are content with very little.
 
Quote from Debaser82:

There is a saying in French that goes: Vivons cachés, vivons heureux.

It means literally live happy, hide your wealth and what it implies is showing of you are truly rich can bring about a whole list of problems you'd be better of without.

Don't be the guy living in the castle driving a Ferrari with a wife loaded with golden jewelry...

Be the guy who drives an 8 year old Saab and doesnt lives in a gigantic mansion even though you could afford to buy Buckingham Palace.

Would you say there is any universal truth in the saying or is it more a European thing were showing of you are very rich isnt part of the culture as elsewhere?
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Tell that guy that he can hide his Ferrari in my garage!
I'll do the boring, routine maintenance drives to avoid engine from seizing and tires from deforming.
 
Quote from dandxg:

Simple following principles like The Millionaire Next Door would have prevented a lot of the problems this country has faced. But we all know this.
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those people suck, they buy their suits at JC Pennys and drive F-150's, what a bunch of artless people... I'd say it would be great if upon a certain net worth that art appreciation and fashion classes were mandatory... same goes for buying a gallon of paint!!
 
Quote from Tsing Tao:


let them drive their lexus, bmws, etc. i know who has more money in the bank.
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unless you've seen their bank accounts, you really don't know who has more money in the bank. some people with bmw's and lexus are living paycheck to paycheck, and some are very wealthy.

you imply that everyone with lots of savings necessarily drives a saturn.
 
i've own some high-line automobiles and they do attract unwanted attention. lots of strangers beg for money, especially at the gas station. women i've dated also asked for gifts or money when i barely knew them and haven't even slept with them yet.

unless you are strong enough to always say no, and unless you are prepared for people to try to guilt-trip you or be rude to you when you do say No, then don't flash your wealth.

for me it works because i don't mind being a rude prick to beggars. if you're too nice to say no, hide your money or else you won't have it for long.
 
Quote from kidPWRtrader:

Freedom is free :). It's a mindset that doesn't cost a dollar.

Having lots of cash is good though :D . Congratulations on following through to live the life you wanted to.
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freedom is expensive. or does your "freedom mindset" somehow put food on the table, clothes on your back, and a roof over your head?

get real
 
Quote from Eight:

those people suck, they buy their suits at JC Pennys and drive F-150's, what a bunch of artless people... I'd say it would be great if upon a certain net worth that art appreciation and fashion classes were mandatory... same goes for buying a gallon of paint!!
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LOL. I quit working 15 years ago. I read The Millionaire Next Door. Personally, I've not bought a suit in 25 years. I work (trade) at home. And why do people who live at, or below their means "suck"?

What's wrong with buying what you need and not being the typical US consumer who buys most anything he/she sees. And then ask how many of those people end up in foreclosure and/or credit card default. Oh yeah, I (who lived within my means) then end up paying for these deadbeats.
 
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