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>>The one thing you'd think it gives them is freedom, but they all pretty much end up working til they die so I don't know. I was having this conversation abou
by kamaal 1y ago
>>The one thing you'd think it gives them is freedom, but they all pretty much end up working til they die so I don't know.
I was having this conversation about this colleague a few weeks back about another colleague we knew who made it big working at a start up. You would expect he has lots of free time and mental space at hand to do whatever he wants, instead it turns out he has to now worry about managing that money.
And its not exactly a easy job. Managing big money can be hard as any loss even a small percentage is a lot of money. And that begins to weigh heavily on you in form of stress as there is a lots at stake.
>>Like the Bill Murray quote about people who want to be rich & famous should try just being rich first.
Absolutely there is big difference between 'comfortably rich' and 'having to worry day and night for your money'. You would expect more of a thing make things awesome as you go, but as it turns out there is a counterintuitive aspect to this.
Plus announcing your success to friends and family can bring unexpected complications. People begin to think you owe them things, and they are entitled to it. And saying no can be quite tricky, and make you look evil.
- toast0 1y ago> You would expect he has lots of free time and mental space at hand to do whatever he wants, instead it turns out he has to now worry about managing that money. > And its not exactly a easy job. Managing big money can be hard as any loss even a small percentage is a lot of money. And that begins to weigh heavily on you in form of stress as there is a lots at stake. A three-fund portfolio pretty much scales from $100 to $100M, probably more. Once you have enough money do whatever you want, you can do stocks:bonds anywhere between 20:80 and 80:20 and you'll be alright, and if not, there probably wasn't a reasonable choice you could have made with the information available. If he's got enough to be set for life, and he's worried about market fluctuations, that's a choice.
- kamaal 1y ago>that's a choice. Yeah, thats the problem. Humans always want more. Its always a choice.
- insane_dreamer 1y ago> And its not exactly a easy job. Managing big money can be hard as any loss even a small percentage is a lot of money. And that begins to weigh heavily on you in form of stress as there is a lots at stake. Only because the person "needs" to "have more". They could put it in TBills and never think about it again. And they'd be totally fine, still live a life of luxury. It's only because the growth in money becomes a goal in itself, which is a trap.