Rich people , what does it feel like? What's the best and worst thing about being wealthy?
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A teacher I had in high school who taught me physics sold his consultancy company to a larger corporation for several billion dollars. Yes you read that read billion with a b. He and his partner split it fifty fifty. After relaxing for a couple of years, he decided to go into teaching. Guy was the most laid back teacher I ever had. Almost every friday he would bring in donuts and since he had an engineering background, he wanted to get a lot of students interested in engineering so he organized these engineering dinners. Man, those meals were the shit. We would all be enjoying a delicious meal while sitting around with a successful, usually highly at that, engineer who would tell us about his career. I gotta say, looking back on it that is what really got me into engineering. Most importantly, the guy never flaunted his wealth, sure he drove a nice car but he never acted like he was above you. He was also probably the most influential teacher I had in my four years at tha
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"The number one benefit of having money is... Not having to worry about money. Number two is being able to be generous towards friends, family and loved ones. Anybody who wasn't born into it daydreams about all the toys they'd buy when they have lots of money, and if you come into it fairly rapidly (incredible job straight out of university, get in on a successful startup, etc) for the first while, you'll collect those things, and it's cool. But after a while, you have all that stuff, and at best, you'd be upgrading things you already own so the thrill of new things fades. And the final thing you'll say to yourself once you've finally made it is, "Hey, money really doesn't buy happiness. Damn it." "
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"A tv show that aired recently here in the UK (Jon Richardson Grows Up) covered the subject of money recently - both those who have it, such as the kids of a British billionaire, and those who choose to live off grid. The son of the billionaire wasn't coping well with it at all, as he felt he'd not earned the wealth he'd inherited, and spent his days in his room surfing Facebook. However a lottery winner (who'd not exactly "earned" it either) summed it up quite well by saying money doesn't bring you happiness but it's easier to be unhappy and rich than it is to be unhappy and poor. If you've not seen the show then it's worth watching. "
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I had a long run of $300K+ per year, and now far less - so I have perspective from both sides. The upside is of course having nice things, fun trips, handling big expenses like kids college - all without falling into debt. The downside is that I created a lifestyle that was expensive to keep up, and there was always stress about money. My income was not consistent - more sporadic large amounts. I worried about money as much then as I do now. All that's changed is the amounts.
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My mother used to have a millionaire boyfriend, we moved into his house. Life was pretty great, lot's of vacations, free stuff. But life always finds a middle way (for normal people) on your emotional level. You can't have happiness without pain. Having a lot of money is normal, you find other things to be sad about. They broke up, i still feel the same without all the money, gifts and stuff. The feeling of wanting something (money) is stronger than actually having something I believe...
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I'm affluent, but not rich. My friend is rich so I get to see a front row seat. The best thing is he can do anything he wants, whenever he wants. But interestingly he's put limits on himself: settled down, purchases a normal-sized (but very nice) house, and had kids. So he is tied down a lot more. The worst thing is that all motivation to do things must come internally. Nobody is telling him to do anything so if he wants to accomplish something he has to provide the self-discipline. Also, he is very generous, but has a weird attitude towards money. I've seen so-called friends assume he'll just pay for something because he can afford it, he doesn't and that cools the friendship pretty quickly. I think the reason we are so close is I've never asked him for anything financially. Yes, he'll pick up the dinner tab more often than me, but I take my turn (probably every third time), but I never expect it. And I treat him like a person not a bank.
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