Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
“I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.”
John D. Rockefeller was credited as being the first American billionaire in 1916. When a reporter asked him "how much money is enough?", he replied "just a little bit more."
I never thought about it. Saved what I could when I could and figured that I'd find a way through whatever life threw at me. So far so good and on much less than all the prognosticators said that I'd need but no one, especially me, knows for sure.
From the Gambler, Frank, the loan shark, played by John Goodman...(I cleaned up the language a bit)
"You get up two and a half million dollars, any arse in the world knows what to do: you get a house with a 25 year roof, an indestructible Jap-economy sheetbox, you put the rest into the system at three to five percent to pay your taxes and that’s your base, get me? That’s your fortress of freaking solitude. That puts you, for the rest of your life, at a level of freak you. Somebody wants you to do something, freak you. Boss pisses you off, freak you! Own your house. Have a couple bucks in the bank. Don’t drink."
I dunno...I know retired attorney's who chase the little white ball around all day...learn to paint, travel to lands that I have no interest in seeing....seems kinda boring to me, what's the point?
I think the real how much/wealthy are the one's who are healthy, their family is healthy and secure, they don't worry about affording groceries, live in safe neighborhood, low crime/dingbats/noise and they are happy working in jobs they enjoy and do not dread Monday mornings and have several weeks off during the year to recharge.
To each his own, I guess..and we have to play the card's we are dealt, no?
I recall an old pilot’s saying to the effect that you never have “too much” runway or altitude. The runway behind you or the sky overhead won’t do you any good if trouble arises.
Suspect that’s somewhat akin to financial resources. The money you’ve already spent / squandered or the investment opportunities you’ve overlooked won’t be of help if an unforeseen need arises.
Jimmy Buffett: "A Pirate Looks At 40:" "...I made enough money to buy Miami, but I pissed it away so fast... Never meant to last. Never meant to last."
I tell you what: I never could even THINK about investing until my career became a career, with benefits and vacation time and Continuing Education budgets, too. Isn't that typical? "Youth is wasted on the young." I was a professional student until into my 40s. Most cannot wiggle around and do THAT for so many years... And I gave up a lot to do it, looking back, in terms of experiences. But I was doing what I liked.
Why is "youth wasted on the young?" We don't trust rookies to manage the whole company, right? So they have to toil away and get some breaks, along with a bigger paycheck before investing holds any attraction for them. Until then, we can explain and teach, but it goes in one ear and out the other. Only to be expected, eh?
Comments
Derf
Gordon Gekko (offering a job to Bud Fox)
When a reporter asked him "how much money is enough?", he replied "just a little bit more."
"You get up two and a half million dollars, any arse in the world knows what to do: you get a house with a 25 year roof, an indestructible Jap-economy sheetbox, you put the rest into the system at three to five percent to pay your taxes and that’s your base, get me? That’s your fortress of freaking solitude. That puts you, for the rest of your life, at a level of freak you. Somebody wants you to do something, freak you. Boss pisses you off, freak you! Own your house. Have a couple bucks in the bank. Don’t drink."
I dunno...I know retired attorney's who chase the little white ball around all day...learn to paint, travel to lands that I have no interest in seeing....seems kinda boring to me, what's the point?
I think the real how much/wealthy are the one's who are healthy, their family is healthy and secure, they don't worry about affording groceries, live in safe neighborhood, low crime/dingbats/noise and they are happy working in jobs they enjoy and do not dread Monday mornings and have several weeks off during the year to recharge.
To each his own, I guess..and we have to play the card's we are dealt, no?
Good Health and Good Luck to all,
Baseball Fan
Suspect that’s somewhat akin to financial resources. The money you’ve already spent / squandered or the investment opportunities you’ve overlooked won’t be of help if an unforeseen need arises.
Than there’s this.
"...I made enough money to buy Miami, but I pissed it away so fast... Never meant to last. Never meant to last."
I tell you what: I never could even THINK about investing until my career became a career, with benefits and vacation time and Continuing Education budgets, too. Isn't that typical? "Youth is wasted on the young." I was a professional student until into my 40s. Most cannot wiggle around and do THAT for so many years... And I gave up a lot to do it, looking back, in terms of experiences. But I was doing what I liked.
Why is "youth wasted on the young?" We don't trust rookies to manage the whole company, right? So they have to toil away and get some breaks, along with a bigger paycheck before investing holds any attraction for them. Until then, we can explain and teach, but it goes in one ear and out the other. Only to be expected, eh?