The Grim Truth About Getting Rich...

Squid wrote- "As a matter of fact, when I die, I want to owe as many entities as much money as I can possibly get my hands on."

Squid,

Your posts give a theme that seems quite selfish. Just who is going to be responsible for your debts when you die? I don't think the rest of us should be shackled with them

As far as talking about rich people (Gates, et. al) and how they should spend their money or what tax rates they should pay, well, it is their money and they should have the right to do whatever they wish with it.

It's easy to tell someone else what to do with "their" money. What would you think if I told you what to do with "your" money.

Just my $.02

 

Are you suggesting that citizens have no right to an opinion regarding their nation's tax policy simply because it involves someone else's money?

And when we talk about Gates, we are simply using him as an example to help explain our thoughts and opinions. It's just a construct.

 

Michael:

So they will be tempted, like you said, to spend it. Gotta start that credit binge young!

Jay

 

Right! Clearly, the folks you know are still involved in some way, shape or form.

My only point was that many of the people I know who retired early did so without any idea of how they were going to spend the (many, in some cases) years after they retired. Several, in fact, seemed to not only retire from work but from life as well, which I find pretty sad.

All boils down to a simple matter of planning, I suppose.

 

Oh good God! How did this happen?

I posted the line attributed to Mystery Squid while Mystery Squid posted the line attributed to prius04. Geez!

Did I over-moderate or what?

 

So, please chatise ME, who has been retired now a couple of months and loves doing nothing. I am willing to change, but I sure enjoy having the luxury of spending a couple of hours each day in this forum and having almost endless time to do whatever else I please. I am not saying this is right, just let me hear it from those of you who are not here yet and have such great ideas of what this time of life should be like.

 

I'd say you're entitled to spend your time as you see fit.

However, I have noted that you've only been retired for a couple of months and, although "doing nothing" is fine for a couple of months or even a couple of years, doing nothing for a couple of decades is a bit much, IMHO.

 

ok Fred if you insist...

SHAME on you Fred!!...

hows that?

feel better?

 

Probably correct. I will continue doing nothing for 3 more decades and let you know.

 

<div class='quotetop'>QUOTE(tag\";p=\"101625)</div>

I've been "retired" for 10 years. Most days, there aren't enough hours in the day to accomplish the things I want to get done.

My experience, and that of my friends around me, is that we wonder how we had the time to work when we were employed. :lol:

 

<div class='quotetop'>QUOTE(galtgulch\";p=\"101864)</div>

Absolutely!

<div class='quotetop'>QUOTE(galtgulch\";p=\"101864)</div>

 

<div class='quotetop'>QUOTE(popoff\";p=\"101871)</div>

A good thing, IMHO.

<div class='quotetop'>QUOTE(popoff\";p=\"101871)</div>

That sounds a lot like my wife and I wondering what we did with our spare time before we had kids. :wink:

 

Tag and galtgulch: Ayn Rand is worth reading if you believe that selfishness has religious power. Otherwise, she becomes a self-righteous bore. I read her books in my college days when I really believed that my "I" should proceed without regard for others.

Just a second opinion in case someone is planning on folowing your suggestion. Now they have a contrasting view.

 

<div class='quotetop'>QUOTE(Fredatgolf\";p=\"101943)</div>

Fred, with all due respect, I have to take issue with your "contrasting view" as it suggests everyone should only read material written by authors with whom they agree.

 

Tag, with all due respect, I think it helps to have some idea what one might be reading before make the decision to take the trip. That has nothing to do with agreeing with authors you read. I do admit to thinking Ayn Rand is intriguing but had a one way mind. That may well encourage someone to read her works.

Might makes right is what I recall Thrasimachus purporting. I don't think that is right, but I read him at one time. Others may want to read him now and agree with him, just judging from recent political decisions.

But, your taking issue is on target even though my intention was not to suggest that people should read only authors with whom they agree. I know people who many authors with whom they disagree. I admit I rarely do so. I just don't have the time even though I am completely retired.

 

How I measure my wealth:

I have a great, stable job that I worked hard for in school to get after nearly 7 years of undergrad and grad work, and I'm happy with it. Sure, there are many other jobs that pay more than mine, but I know what I'm doing in my job, and I get satisfaction from it personally and financially.

I volunteer my time once per week as a EMT. I get wealth beyond words knowing that it's a stressful 24 hours when being in an ambulance, but I'm actually happy I don't get paid for it. Doing EMT work with no pay for over 5 years now, I very much know it's not about money. If it was I would have stopped volunteering after the first sight of blood, personal suffering, and tragedy. To me, I make a difference, not for money, but solely for others.

"Love your job, and you'll never work a day in your life"...it cannot ring more true if you think about what it means.

I may not retire at the "official" retirement age by government standards, but I'll be prepared for it when I do, that is all the wealth I'll ever need

Dave.

 

Hybrid_Dave:
Thank you, your post should help me or anyone else to put this issue in context.

 

I'm a student. The way things are going now I feel like I'll be a student forever. So far I have 4 years under my belt. 3 years of undergrad, got my BSc and have finished year 1 of a 4-5 year grad program. Then, probably a postdoc making minimum wage for another few years before I'm marketable enough to get an industry job. If fortune smiles on me and I don't have to do a postdoc, I'll be working in 3-4 years.

My husband is working. He educated himself and just yesterday got his official documentation after 2 years of hard work.

We got married just over a year ago. We had almost NOTHING of our own. Picked-up-at-the-curb furniture, junker cars, you name it.

We worked hard and saved every penny we could while I was in college. I paid all the tuition I could out of pocket. We spent the remainder of our savings account moving us down South for graduate school. We lived on credit cards for 2 months while we recovered from that financial hit.

Less than one year later... everything in our house is brand new and paid off. He has (well almost) all the tools he needs for work. We have a brand new car and a "new" used car. And thousands in savings. On incomes of far less than $25K each and living comfortably enough for our needs.

If we didn't buy all that stuff, how many thousands of dollars could we have put away in such low incomes? I can't even imagine.

Meanwhile, I know of some folks who are well taken care of by their rather well-off and generous parents. They splurge everything they have. And they have less expenses month to month than we do. Do I like hearing them complain about their lack of savings account? Not really.

We just went home to Wisconsin to visit friends and family. We have a bunch of friends who have kids and not much else. Just what they need to get by. And they are FAR happier than anyone I know who has a lot of money.