wealth
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The
Millionaire Next Door describes how wealth moves through
generations in the US. First, an immigrant comes to the US. Note that
for any wave of immigration, the immigrants who make it to the US are
not representative of a typical person from their native
country-- the immigrants are the risk takers and/or priviledged
members. The immigrant works their butt off, makes some money, spends
nothing, but puts their kids through college. These college kids do
well, as they learn work ethic from their parents and are able
to get a good education. However, the grandkids become waste products,
since they never saw their parents working as hard as their parents
saw the first generation immigrant parents. Because of this work ethic
dilution, the US needs to keep importing more entrepreneurs. :)
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The same book claims that statistically, most millionaires do not
spend money, they do not own Rolex watches or drive sports cars or own
new suits. Those are owned more often by people who want you to think
they are rich.
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If you want to feel rich (where your assets are greater than your
needs and desires), learn to spend less money, do not live in a
rich town, do not hang out with rich people.
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Delayed gratification is an important skill to practice and
teach. Rather than enjoying buying stuff all the time, put off most
purchases, and enjoy what you have as well as the anticipation of
buying something in the future. And more importantly, enjoy
giving.
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When you are feeling poor, keep in mind that you probably live better
than most kings and queens throughout history, as you probably have a
refrigerator, running water, a toilet, and electricity. (Advice
from jm.)
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The gap between the rich and poor in the US is very sad, but I don't
know of a country I'd like better than the US, and which is better for
people overall.
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It is not a sin to be wealthy, but I'm sure it is a sin to not put
your wealth to good use.
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On the Bill Cosby Family show, his young daughter Rudy says "Dad,
are we rich?" and he replies "Your Mom and I are rich. YOU have
NOTHING!" :)
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Here is another interesting book about wealth, in this case
about idiots with new wealth (as opposed to idiots with
inherited wealth):
Bobos
in Paradise.
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Recently on vacation in a pool, a kid about 12 or 14 was talking
loudly to his friends (but loud enough for others to hear) about
his Dad's new $16,000 Rolex watch. Is this kid a f***ing idiot or
what? What is wrong with parents that allow them to raise kids
like this? See also my
watch page.
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And then there is skiing. What is at about this sport that attracts
so many a**holes? The other day I saw three separate incidents of
loudly dressed skiers reaming the poor teenagers who worked in the
ski shop and
restaurant.
What the hell is their problem? Why doesn't
someone start a ski mountain called "No Snob Zone" with signs about
required behavior...
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See the
Vancouver
article by Ben Hyde.
- GuideStar.org is
a great site for finding charities.
Fidelity and
Schwab have
awesome charitable giving accounts; write them one check a year (makes
your taxes simple!) and then from that account, using the Internet,
make donations to the charities of your choice, with the option of
doing it anonymously!