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There's an interesting thread on Quora titled 'What does it feel like to be a self-made millionaire under the age of 25?' http://www.quora.com/Becoming-a-Millio
by paraschopra 13y ago
There's an interesting thread on Quora titled 'What does it feel like to be a self-made millionaire under the age of 25?' http://www.quora.com/Becoming-a-Millionaire/What-does-it-feel-like-to-be-a-self-made-millionaire-under-the-age-of-25?share=1 http://www.quora.com/Becoming-a-Millionaire/What-does-it-fee...
As you will read through it, terms like insecurity, worry, surprise on unchanged happiness levels would be quite common among the answers.
I have been thinking a lot about investments and have concluded that my main criteria is minimum management. If an investment requires active maintenance and management, it's not for me (unless I'm doing it for charity). This excludes many common investments such real estate and stocks. With others (say fixed deposits, metals, etc.) the post-tax returns are less than inflation so it may not be wise. Right now I have decided to invest mostly in mutual funds.
I'm okay with the risk because the biggest asset I have is myself. The insecurity about future never leaves us, but as long as I believe that I would be employable in future, I can always jump back.
EDIT: added ?share=1 to the URL. Thanks Casseres.
- ashray 13y agoThanks for your response, the Quora thread is very interesting. Another question, and this is a little more personal. Also, I don't mean to be accusatory at all or anything of that sort so please don't take it that way. Do you feel any new found desire to help those less fortunate than you ? I don't mean by providing employment, etc. I'm sure you do plenty of that through your business. I just know plenty of fairly rich people who feel like they're not 'rich enough' to help those that are less fortunate (even people whose net worth is in the tens of millions!)
- Casseres 13y agoHandy Tip: Add ?share=1 at the end of the URL so others don't have to log in to read all of the answers. Thanks for sharing, it was a good read.