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>>A life spent mostly hoarding money and possessions is a wasted life Having seen the kind of advantage some of my friends born in rich families enjoy, I would

by kamaal 13y ago

>>A life spent mostly hoarding money and possessions is a wasted life Having seen the kind of advantage some of my friends born in rich families enjoy, I would love to hoard and posses tons of wealth even if its purely to give away in inheritance. Rich kids enjoy privileges and advantage poor kids can't even dream of. The biggest of which is attitude of course. Rich kids are born with an assumption they are supposed to remain rich forever, become leaders and are free to act as unfair as they want given the their 'natural selection' in becoming rich. No matter how hard you work, you will never be able to truly compete with a rich kid. He will get all the resources, tutions, fee and expenses taken care of to establish a more deeply entrenched position of advantage. The only real way is for you to exactly do what their parents did, and hope your kids will be better off. >>Then why do we run after money? Which brings me to the point, why did you start a company? Speaking purely from a philosophical point. There have been people in India, especially wandering monks who shown you can find all the bliss in life even on bare minimal survival gear. And there is no way you can match their freedom.

base698 13y ago
I think you've missed the point. The point is there is some amount of money that affords you the ability to do what you want. Possessions have the effect of tying you down. Buying a house, assuming you get a mortgage, is a huge expense requiring you to work to pay for it. It ties you to one geographical area and puts stress from having to make the payments. You could spend the downpayment on a house as a down payment of yourself. Find somewhere or something you'd rather do.
- waylandsmithers 13y ago
  | Possessions have the effect of tying you down. This is getting to be a little off topic, but I see comments like this often from people who imagine a mortgage as a massive amount of debt hanging over your head. While I agree that home ownership is not the right move for everyone, and it's definitely true that you can't just up and leave, you can sell your house. It will probably take longer than the 30 or 60 days notice you would have to give to a landlord, but it's not as if you are signing a contract to live there for the next 30 years. | Buying a house, assuming you get a mortgage, is a huge expense requiring you to work to pay for it. Doesn't rent fit that description too? Unless you are crashing on someone's couch or living with your parents, housing is going to cost something. In my experience, first+last+deposit was the standard amount due upon moving in. At the end of the day you at least get to keep some of the money paid on a mortgage. Plus, if you do make it to the end of the loan, you could be paying the same monthly payment that you locked in 30 years ago, whereas rent will probably rise over time.
  - philwelch 13y ago
    If you're moving, it's likely because the house you live in has become less desirable for some reason, like "all the jobs are gone". So in most cases, if you want to move you're also likely to have trouble selling your house. As far as investment value goes, it goes against every rule of investment to hold a highly leveraged position in a single, undiversified asset. If you can own several houses you might be okay.
crusso 13y ago
No matter how hard you work, you will never be able to truly compete with a rich kid Not sure where you live, but the beauty of a class-free, highly mobile society is that the two dramatically wealthiest people I know started out from the very low end of the economic ladder. If anything, it gave them the freedom to take risks since they were never scared of going back to having nothing. If you've already decided that you can't compete with "rich kids" then you won't be able to.

by kamaal 13y ago

base698 13y ago

I think you've missed the point. The point is there is some amount of money that affords you the ability to do what you want. Possessions have the effect of tying you down. Buying a house, assuming you get a mortgage, is a huge expense requiring you to work to pay for it. It ties you to one geographical area and puts stress from having to make the payments. You could spend the downpayment on a house as a down payment of yourself. Find somewhere or something you'd rather do.

waylandsmithers 13y ago
| Possessions have the effect of tying you down. This is getting to be a little off topic, but I see comments like this often from people who imagine a mortgage as a massive amount of debt hanging over your head. While I agree that home ownership is not the right move for everyone, and it's definitely true that you can't just up and leave, you can sell your house. It will probably take longer than the 30 or 60 days notice you would have to give to a landlord, but it's not as if you are signing a contract to live there for the next 30 years. | Buying a house, assuming you get a mortgage, is a huge expense requiring you to work to pay for it. Doesn't rent fit that description too? Unless you are crashing on someone's couch or living with your parents, housing is going to cost something. In my experience, first+last+deposit was the standard amount due upon moving in. At the end of the day you at least get to keep some of the money paid on a mortgage. Plus, if you do make it to the end of the loan, you could be paying the same monthly payment that you locked in 30 years ago, whereas rent will probably rise over time.
- philwelch 13y ago
  If you're moving, it's likely because the house you live in has become less desirable for some reason, like "all the jobs are gone". So in most cases, if you want to move you're also likely to have trouble selling your house. As far as investment value goes, it goes against every rule of investment to hold a highly leveraged position in a single, undiversified asset. If you can own several houses you might be okay.

crusso 13y ago

No matter how hard you work, you will never be able to truly compete with a rich kid Not sure where you live, but the beauty of a class-free, highly mobile society is that the two dramatically wealthiest people I know started out from the very low end of the economic ladder. If anything, it gave them the freedom to take risks since they were never scared of going back to having nothing. If you've already decided that you can't compete with "rich kids" then you won't be able to.