Does the latter choice come with the financial benefits of being the best? If so, that’s obviously the right answer. If it doesn’t come with those benefits, then the former is the right choice. It just depends
I think you should take this question over to WSO.
Thought you had some valid but debatable points. Stopped reading the thread after this comment.
Van delay you one wack ass cracker
LOL
You can lose a lot of money chasing women but you’ll never lose a lot of women chasing money.
Also, Bill Gross lives a simple life and kept his net worth from his fiance. She was star struck that first tax return after getting married when she realized how much money Bill made/saved.
I was at a club awhile ago (getting too old for this ish) dressed rather well, and these NYU frat fags came over and were mockingly asking, “Whoa, you look important man, what’s your job?” I said, “I’m a plumber muthafukas, whachu kno bout dat!?” They laughed and left. It would have done me no favors to mentioned I’m collecting six figs a year.
Speaking of clubs, what ever happened to AJ at Cain?
was this a boys only club (no homo)
Maybe you shouldn’t be at boxers.
A few months ago I met someone in New York at one of these frat-tastic bars in Murray Hill that a friend insisted on going to since he was from out of town. Anyway, we end up shooting the breeze with some folks there, most of us are pretty casually dressed for a weekend evening, and then there is this guy in a suit and two-toned collar shirt. We were just chatting about this and that, but I could tell he wanted me to ask what he did, and so I asked. He was like, “I’m a financial advisor at Edward Jones. I help people with lots of wealth manage their money.” I responded, “Oh, that’s cool. I work in finance too.” Without asking what I did or even who I was, he said “Nice bro! Well let me know if you need some investment advice. This has been a killer year for me, let me tell you. I’m on track to pull six figures this year, need to just close a few more deals.”
“Always be closing,” I thought to myself. Ha.
I can relate to what destroyer said. When I was in college, I liked classes in this order from most to least, history, sociology, economics, and business. The first two taught me how the world worked and how inequality creates instability and is sad blah blah blah. But I learned that undergrad for first 2 wasn’t good dinero, so I went with econ. Ironically, Now I work to try and make rich richer and create even more inequality. But hey i figure, im not the direct cause, i’m juss doing research. If its anyone’s problem, its govt, and if they want to fix it, they can change CG taxes.
Anyways, here’s some advice on a quick way to get over 100k and you start with nothing. 1st thing you need to do is if your income is high is to defer all your taxes, use HSA, maximize 401k, use ira if tax deductible. 2. You can borrow/withdraw from 401k/ira to buy real estate. real estate is good because you save on rent or you can rent it out and it appreciates in value prolly around inflation and leverage is key. You gotta leverage off the ying yang. 3. Other ways you can leverage money is by starting a business, going to mba, but basically you are gonna have to take a lot of risk and try to borrow a ton to make a ton. The interest is also tax deductible so its a real solid. Lastly if you ever want to unlock value in a property, no need to sell. Its better to appraise, refinance, rent out and increase income, then use higher income to borrow again to get next property and repeat cycle.
Bottom line: defer taxes and reinvest savings.
Ive always heard renting out propertieis is more trouble than its worth, with always having to make repairs and tenants messing stuff up
^ Residential, yes. Commercial, not as much.
without a tenant, it was a headache and a money pit. with a 50k down payment, it rents for 25k gross. with mortgage, taxes, and other expenses included, it nets 8k a year prolly. it appreciated about 100k most likely too. Due to leverage and an amazing 2012/2013, i more than tripled most likely relative to my out of pocket cost. No repair problems yet though so fingers crossed. CVM is right though, commercial is still historically cheap right now, but even shoddy buildings in los angeles are 800k, and I dont got 160k to even have the minimum down.
I never beleived the stuff “money doesn’t mean happyness” or “money will not buy you health or friends”.
Oh yes, it will buy you health, oh yes it will buy you friends. Oh no you won’t be happier if you are poor. I don’t think anyone gets more respect if poor than if rich. Especially if worked hard for their money. (To just get it from your father that’s another thing).
Only thing: what does chasing money take away from you?
If you can’t continue education because you’re too busy working - that can be a problem.
If you are a woman and you are too busy having children (in due time) - that will be a problem.
If you are a man with your money you can “buy” yourself a young wife who will have children even if you were too busy (in due time).
Honestly I envy people whose main problem is “is it wrong if I make too much money?”
^ I’m not sure wealthy people are happier than middle class people. I know people on both sides and don’t see one group happier than the other.
I think this is true. While anecdotal, I know some miserable rich people. And I mean completely miserable. Wealth, and the pursuit of it, can destroy you. Virtually every successful hedge fund manager I know (and I know some of the biggest names and lots of others you have never heard of) has been divorced or hates / are hated by their wives. It’s not unusual for their kids to be messed up as well. Some of them are emotional wrecks on a personal level. All the money in the world won’t fix those problems.
There’s one dude I know who has half a billion dollars. I’ve often wanted to ask him why he doesn’t just fold it up and go sit on the beach or buy a sail boat and just chill out. He can’t though, being miserable is just who he is. It’s sad.
^I feel rich too can be in a non-miserable condition and be happy only if, yes only if, he knows when to stop single minded pursuit of wealth (read money) only and enjoy the fruits of their struggle. But that is too tough an expectation from most of them, as by then the greed overtakes and collecting more and more wealth becomes the only priority (along with all sorts of life-style disease stopping him from enjoying the fruits of his labour!). Easier said than done! There are a few wise ones too who know how to enjoy the earned wealth and be happy, examples are not scarce in any country. That is why old adage “money is a good servant but a bad master”.
Wealth brings its own problems. If you can’t manage those problems, but you can manage more normal kinds of problems, wealth will bring you unhappiness, ironically enough.
It also depends on the nature of your personality. Some people don’t have enough sense of self that they feel they must have some objective measure that proves that they are better than other people. Maybe their mothers didn’t love them enough and they always feel they are unworthy, but can’t bring themselves to admit it.
There’s a tension between one’s ability to be satisfied with what one has, and the completion of achievable goals. If one is too satisfied with one’s current lot, one doesn’t do anything. However, if one is never satisfied with what one has, one is always chasing stuff and expending energy doing things that will never actually satisfy you. In the middle is the attainment of achievable goals, meaning that you can see passing milestones of improvement as signs of progress, which can be a source of happiness.
But as one achieves more, the next goals tend to be correspondingly harder, so at some point they can become harder to achieve. At this point, having satisfaction with ones existing accomplishments becomes more important, and things like the quality of personal relationships (friends, family, loved ones) seems to be where people find the most happiness. But if you’ve destroyed your personal relationships while you are getting to that point of financial security, then one discovers that no matter how much you spend to attract people, you always feel alone.
Guys, I said “You won’t be happier if you are poor.” I never said you will be happier if rich.
But I do think money helps more you than causes problems.
(Finally I’m not sure everyone has the same understanding when speaking about ‘having money’ or ‘being rich’.)