What? You think wealthy people want to hang out with ne'er-do-wells? Hell no. They hang out with their own kind.
You want to hang out with rich people? Better become one yourself first.
Living Frugally to Retire By 40? Mental Illness or Smart ?
- Thread starter marketsurfer
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What? You think wealthy people want to hang out with ne'er-do-wells? Hell no. They hang out with their own kind.
You want to hang out with rich people? Better become one yourself first.
That's a different point than the one I quoted :
"It's also a good idea to hang out with friends with the same priorities, and who ideally are slightly poorer than you...."
I tend to agree with you, but one can select the area they live in for instance, not so difficult to select one where they will be wealthier or poorer than the average.
It also comes down to the necessary investments to succeed, if one is living too frugally he will get no chance to enter wealthier spheres, where expenses are significantly higher, but where it's actually much easier to grow wealthier.
"It's also a good idea to hang out with friends with the same priorities, and who ideally are slightly poorer than you...."
I tend to agree with you, but one can select the area they live in for instance, not so difficult to select one where they will be wealthier or poorer than the average.
It also comes down to the necessary investments to succeed, if one is living too frugally he will get no chance to enter wealthier spheres, where expenses are significantly higher, but where it's actually much easier to grow wealthier.
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Most people I have known that strived for early retirement had very poor work ethics, which put them in a unfavourable position to achieve their goal. A common treat of wealthy people who acquired their wealth themselves is that they almost without exception are workaholics. They don't retire, they work until they die.
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having to agree with Clacy here as another suburban Dad....is it safe to assume you are not married with children?
God, I hate it.
One of my friends plays football (soccer to most here I imagine) in the premier League (UK) and makes about £40k per week. I find it depressing to be around, lol.
Likely "working until they die" doesn't feel like working to them... like Carl Icahn.. he obviously doesn't "need the money".
You talking about entering "wealthy social strata" or having enough money to make you happy while the world goes about its business? Just because you're rich doesn't mean you need to hang out with other richers.... might not even be desirable.
One of my neighbors is a retired psychiatrist... he's got "lotta $millions". What does he do? Puts on his farmer overalls and tends to the weeds on his property and his few horses.
I recall a study that was conducted on professional violin players. They found that what separated the absolute top from the "midfield"was not sheer talent, but the number of hours they put in for practice and study. The top players put in twice as much time as their less succesful colleagues. It obviously pays to do what you love. Those looking for early retirement are the least likely to achieve it. My take on this story is that the guy is unhappy in his present career or doesn't like to work at all.
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We're talking about young guys' career choice and your counter example is a retired person ?
You missed the point. My fault or yours?