Why you do NOT want to be a millionaire.....

[SnowGlobe7]

Just found this to be funny to me...I know we have had this discussed in other threads, but just a reminder.....keep in mind what is really important

 

 

http://www.investopedia.com/slide-show/no_millionaire/?utm_campaign=inv-tbl-pf2-071613&utm_source=tbl&utm_medium=cpc&utm_content=adg-na_adv-na_mtp-na_adc-con_adf-mix_ptp-cp_geo-us

 

[umbertino]

It all sounds sensible.... Still I'd like to give it a try.

[SnowGlobe7]

im with you umbertino....a little common sense goes a long way

[umbertino]

im with you umbertino....a little common sense goes a long way

Agreed.

[millionaire in training]

Two things that I do see that could be a problem  

 

1)  People coming out of the woodwork asking for money. Even if you try and keep it quiet your life style gives you away.

 

2)  Trusting others. I hate this part, people will act differently when they know you have money. Some will try and take advantage of you.

[umbertino]

Two things that I do see that could be a problem  

 

1)  People coming out of the woodwork asking for money. Even if you try and keep it quiet your life style gives you away.

 

2)  Trusting others. I hate this part, people will act differently when they know you have money. Some will try and take advantage of you.

True.. But it's still up to you to decide if you want to help someone with money, depending on the various situations.

 

No obligation ( supposedly).

Edited December 5, 2013 by umbertino

[Cosmo]

I don't want becoming a millionaire an excuse to become a recluse. So I'll need to stick my neck out there and be careful about it. I know for a fact that a big target on my back will quickly appear if I let things get out of hand. I often wonder if there will be ways to give to people who need help without compromising my own financial position.

[sandfly]

IT WILL BE FUN. THINGS WILL CHANGE

[Rayzur]

There's probably a big difference between being a millionaire in terms of assets (which in CA happens if you own one house practically)... and a liquid millionaire.... which will evaporate if you don't use your head a little bit like SnowGlobe and Umbert say above.... And I gotta say, this article really seems to play on stereotype stuff and doesn't seem to reflect the average day to day life of [asset or liquid] millionaires.... Most all  of my closest friends are millionaires, some of them multi, some of those liquid.... AND we all shop for bargains, even  at Target (for some things), look for deals, don't want butt kicking expensive presents, preferring something meaningful and/or from the heart..... not to mention..... don't need a thing and if anything are trying to get rid of stuff at this point.... Not sure how many have an alarm on anything and some of them even leave the house doors unlocked during the day, for friends to enter if they are not home.....  I don't know anyone who is anywhere nearly as neurotic, or obsessed, or frickin preoccupied as this article seems to make folks out to be, or should be or have to be.... This is more like what someone imagines it would be like....

 

Remain who you are at the core, like SG said keep your priorities in order and understand what is important, don't go join a bunch of stupid clubs or spend stupid money for the purpose of getting status (it will be very obvious that is exactly what you are doing) don't act like an azzz cause you think wealthy people act like that (they don't by virtue of wealth, they do by virtue of being an azzz in the first place), the same goes for being pretentious, condescending, or arrogant, ....And my pet peeve, don't be frickin rude to wait staff just because you can or think you should be.... Rude is rude and in my book you're an azzz if you act that way and I don't want you near me....  Don't go buy a bunch of high end stuff, be it cars, houses, or 'only one in existence' bottles of wine.... until you talk to some kind of wealth manager, if you know wealthy people, ask who they use to manage their wealth; if you don't start with your wealth manager at your bank or your brokerage house.... and go from there. Be a human being, be who you are and don't go out and try to prove you are something you are not and don't need to be.... and please don't go as whacko as the article suggests you should be...

 

For whatever reason, the article forgot to mention to be thankful to the Lord, grateful for His Blessings everyday absolutely apart from whatever your bank account looks like... and know if you are in a position to help others, whatever you give from the heart will return tenfold, it just works that way, almost without fail...

I don't want becoming a millionaire an excuse to become a recluse. So I'll need to stick my neck out there and be careful about it. I know for a fact that a big target on my back will quickly appear if I let things get out of hand. I often wonder if there will be ways to give to people who need help without compromising my own financial position.

 

Look into setting up a foundation or variation therein....

And there is absolutely no need to become a recluse.... well maybe depending upon where you live... in which case I personally would move to retain the freedom of movement.... Indeed in some places its more like an  entourage than recluse...

[Nelg]

The article was written by someone who has never experienced wealth.  In the comments below the article someone suggested that it was written by someone "young and inexperienced" with no common sense. I don't know if the two go together, but in this case the it may be true.  Common sense in how one uses their money starts early.  If you don't know how to budget, discern risk, and save when you have a little, you will not do it when you have a lot.  Money enhances who you are and changes what you can do. 

Money is not the root of all evil.  It is the "LOVE" of money that roots into the soul and destroys the person.  Money can and will control a person if the individual bows before "the almighty dollar."  If you remain in control of your life, then money is not a problem whether you have it or not.  

On a personal note, I would love to see what having a LOT of money would allow me to do.  Bring  it on!  RV already!  

[DiveDeepSix]

I rub shoulders with millionaires all the time, and most you'd never know have a dime to their names.  Don't worry about it,use your head and your heart.  After all a million dollars is not what it used to be, that's for sure.  I'd venture to guess at a 1 to 1 RV about 90% of dinar holders would have a million dollars or less after taxes.  So really it's not like winning 500 million in a lottery, that would be catastrophic (in a fun way    and it would take me about 10 years to sober up )!

 

But seriously, most people would pay off some bills, maybe buy a vacation home, send kids to college, get a new vehicle, etc.  Then it would be back to normal again, but with a sigh of relief for many as some of their financial burden would be lifted.  If you are smart you'd refinance your house at the lowest interest rate, but DON'T pay it off, as it's one of your biggest tax deductions!  Merry Christmas and Happy New Year gang!  Let's hope we get a chance to find out GOOO RV!! 

Edited December 24, 2013 by DiveDeepSix

[bigwave]

I've been on both sides of the fence. I can flat out tell you it is better to have money and problems then it is to have no money and problems.

 

DeepDivesix I will pay the homestead(s) off and keep the rentals on the lowest notes possible.

 

All new business ventures will be on a case by case assessment.

 

Peace

 

Come on RV

[gymrat76541]

R E A L L Y ?

 

Telling a poor or average person that they do NOT want the problem of being rich is like a tall person telling a short one that he does not want the problems that come with height. LOL

 

Total B. S.

[SnowGlobe7]

it was tongue in cheek my friend.

 

Common sense is all I am saying...use common sense with your money

[DiveDeepSix]

it was tongue in cheek my friend.

 

Common sense is all I am saying...use common sense with your money

 

We knew that kiddo, all of us are hoping to get the chance to have to deal with a post RV windfall!!  Ahh the troubles!  

[Dinarian64]

I accept the challenge!

[chess]

.....maybe we SHOULD NOT meet in Vegas??

[DiveDeepSix]

.....maybe we SHOULD NOT meet in Vegas??

 

Good point, easy come easy....................... yeah good point!   

[DaveH]

I have tried the alternative

Lousy or little food

Lousy place to live

Lousy clothes

Never any extra money

Then I was discharged   

I will take my chances with the milionaire thing

[vietnam1969]

WITHOUT  EXPERIENCING THE PLEASURE OR CURSE OF BEING RICH IN MATERIALISTIC THINGS, I AM HAPPY TO HAVE WHAT I DO HAVE EVEN THOUGH THERE ARE TRYING TIMES BUT LET US LEST FORGET THE NEEDS OF THE LESS FORTUNATE. THERE ARE CHILDREN AND ADULTS LEAVING THIS WORLD EVERY MINUTE OF THE DAY JUST BECAUSE THEY HAVE NO FOOD OR WATER SO JUST APPRECIATE WHAT YOU DO HAVE AND REMEMBER THOSE WHO HAVE NOT.

[txdinargirl]

I would like to accept the challenge too. I like to think that $ enhances your natural tendencies. If you a jerk before you get $, you'll probably be a jerk after you get $. If you're kind hearted before you get $, you'll probably be kind hearted afterwards. I've known a couple of people that came into $, and it seemed to me that the way they acted after really showed their true colors.

 

My husband and I dream of opening a charter school for kids who aren't destined or aren't interested in college - someplace where they can learn skills that will give them good employment opportunities after high school. These programs are almost non-existent where we live. I'd love to be able to do that someday.

[Rayzur]

WITHOUT  EXPERIENCING THE PLEASURE OR CURSE OF BEING RICH IN MATERIALISTIC THINGS, I AM HAPPY TO HAVE WHAT I DO HAVE EVEN THOUGH THERE ARE TRYING TIMES BUT LET US LEST FORGET THE NEEDS OF THE LESS FORTUNATE. THERE ARE CHILDREN AND ADULTS LEAVING THIS WORLD EVERY MINUTE OF THE DAY JUST BECAUSE THEY HAVE NO FOOD OR WATER SO JUST APPRECIATE WHAT YOU DO HAVE AND REMEMBER THOSE WHO HAVE NOT.

 

Amen brother