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You can never actually stop worrying about money if you have millions. Short of not caring about what happens to it. The FDIC covers $250k per savings account.
by adventureful 14y ago
You can never actually stop worrying about money if you have millions. Short of not caring about what happens to it.
The FDIC covers $250k per savings account.
Is US Government paper safe? I wouldn't bet everything on it. Will the Euro be around in ten years? I wouldn't bet much on it. Could gold crash if the Euro vaporizes and money is forced into the dollar? Are equities at a decade high courtesy of Fed POMO shots and low interest rates chasing capital toward risk?
Let's say you want to give most of your wealth away and make a difference through charity. I don't see how you could not worry about that, it's important, and you can lose millions as fast as you can lose a few dollars.
- __alexs 14y agoNo amount of being rich is going to make that stuff not happen. > Short of not caring about what happens to it. How about doing that then?
- wpietri 14y agoYou can actually stop worrying if you want, and you'll probably do better by it. Go read Taleb's "Fooled by Randomness" for the details.