Do you think being wealthy has cons?????

[BloodxBone]

I wouldn't say it necessarily has it's cons. I think it's just how the individual decides to play it. I will say this though, being wealthy DOESNOT automatically make you happy.

 

[brettthejett]

There is a reason why 99% of stupid people don't obtain large wealth in their lifetime.

If you want to preserve the meaning or worth in new things then simply set spending limits per month.

Think about it....
you HAVE 40 million in worth, but are only allowed to spend $100,000 a month. This allows you to continue growing your money EXPONENTIALLY (the rule of 7-2anyone?) and you're still throwing around enough to feel the wealth.
However one month your gonna ball hard at a club in L.A on the 15th and you only have $9,000 for the rest of the month. Strict spending rules will helppreserve the integrity of "the value of a dollar"

The point of being wealthy isn't to buy and have everything you could ever want, but to be ABLE to buy these things.
That way you can have fun in life while staying grounded.

 

[dearwinter219]

^I'm never gonna forget that logic sir

. Hopefully, i'll put it to use one day.

 

[brettthejett]

Originally Posted by DearWinter219

^I'm never gonna forget that logic sir

. Hopefully, i'll put it to use one day.

If I won the powerball and took home 200 million or something ******ed, I'd go hard - but in a normal world. As soon as you spend 20 millionon a house you set yourself apart from the rest of the world and are between the elite like MJ and will smith and tom cruise.
Now imagine living in the same city you do now, yet you are the richest man on your street without question. You live in a normal house worth $200k butit's the most insane cool pad in all of the U.S. and you have growing assest all around the world in France, Tokyo, Russia, Cuba etc etc.

The rest of the world> "Elite" rich.

Being mega rich in a normal lifestyle would be so awesome

. LocalCelebrity mentality keeps a humble approach to being world class wealthy. Life can't get boring.

YES I've thought about this before hahahaha

 

[xilegacy]

Some advice from people who actually have money.

Andrew Lahde, manager of a small California hedge fund, Lahde Capital, burst into the spotlight last year after his one-year-old fund returned 866 percent betting against the subprime collapse. http://
Last month, he did the unthinkable -- he shut things down, claiming dealing with his bank
[table][tr][td]
[/td] [/tr][/table]counterparties had become too risky. Today, Lahde passed along his "goodbye" letter, a rollicking missive on everything from greed to economic philosophy. Enjoy:
Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would be entirely inappropriate. Nor am I writing to make further predictions, as most of my forecasts in previous letters have unfolded or are in the process of unfolding. Instead, I am writing to say goodbye.

Recently, on the front page of Section C of the Wall Street Journal, a hedge fund manager who was also closing up shop (a $300 million fund), was quoted as saying, "What I have learned about the hedge fund business is that I hate it." I could not agree more with that statement. I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America.

There are far too many people for me to sincerely thank for my success. However, I do not want to sound like a Hollywood actor accepting an award. The money was reward enough. Furthermore, the endless list those deserving thanks know who they are.

I will no longer manage money for other people or institutions. I have enough of my own wealth to manage. Some people, who think they have arrived at a reasonable estimate of my net worth, might be surprised that I would call it quits with such a small war chest. That is fine; I am content with my rewards. Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck. Appointments back to back, booked solid for the next three months, they look forward to their two week vacation in January during which they will likely be glued to their Blackberries or other such devices. What is the point? They will all be forgotten in fifty years anyway. Steve Balmer, Steven Cohen, and Larry Ellison will all be forgotten. I do not understand the legacy thing. Nearly everyone will be forgotten. Give up on leaving your mark. Throw the Blackberry away and enjoy life.

So this is it. With all due respect, I am dropping out. Please do not expect any type of reply to emails or voicemails within normal time frames or at all. Andy Springer and his company will be handling the dissolution of the fund. And don't worry about my employees, they were always employed by Mr. Springer's company and only one (who has been well-rewarded) will lose his job.

I have no interest in any deals in which anyone would like me to participate. I truly do not have a strong opinion about any market right now, other than to say that things will continue to get worse for some time, probably years. I am content sitting on the sidelines and waiting. After all, sitting and waiting is how we made money from the subprime debacle. I now have time to repair my health, which was destroyed by the stress I layered onto myself over the past two years, as well as my entire life -- where I had to compete for spaces in universities and graduate schools, jobs and assets under management -- with those who had all the advantages (rich parents) that I did not. May meritocracy be part of a new form of government, which needs to be established.

On the issue of the U.S. Government, I would like to make a modest proposal. First, I point out the obvious flaws, whereby legislation was repeatedly brought forth to Congress over the past eight years, which would have reigned in the predatory lending practices of now mostly defunct institutions. These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen. This is an outrage, yet no one seems to know or care about it. Since Thomas Jefferson and Adam Smith passed, I would argue that there has been a dearth of worthy philosophers in this country, at least ones focused on improving government.

Capitalism worked for two hundred years, but times change, and systems become corrupt. George Soros, a man of staggering wealth, has stated that he would like to be remembered as a philosopher. My suggestion is that this great man start and sponsor a forum for great minds to come together to create a new system of government that truly represents the common man's interest, while at the same time creating rewards great enough to attract the best and brightest minds to serve in government roles without having to rely on corruption to further their interests or lifestyles. This forum could be similar to the one used to create the operating system, Linux, which competes with Microsoft's near monopoly. I believe there is an answer, but for now the system is clearly broken.

• From Portfolio: Who Got Screwed in the Wall St. Bailout?

Lastly, while I still have an audience, I would like to bring attention to an alternative food and energy source. You won't see it included in BP's, "Feel good. We are working on sustainable solutions," television commercials, nor is it mentioned in ADM's similar commercials. But hemp has been used for at least 5,000 years for cloth and food, as well as just about everything that is produced from petroleum products. Hemp is not marijuana and vice versa. Hemp is the male plant and it grows like a weed, hence the slang term. The original American flag was made of hemp fiber and our Constitution was printed on paper made of hemp. It was used as recently as World War II by the U.S. Government, and then promptly made illegal after the war was won. At a time when rhetoric is flying about becoming more self-sufficient in terms of energy, why is it illegal to grow this plant in this country?

Ah, the female. The evil female plant -- marijuana. It gets you high, it makes you laugh, it does not produce a hangover. Unlike alcohol, it does not result in bar fights or wife beating. So, why is this innocuous plant illegal? Is it a gateway drug? No, that would be alcohol, which is so heavily advertised in this country. My only conclusion as to why it is illegal, is that Corporate America, which owns Congress, would rather sell you Paxil, Zoloft, Xanax and other additive drugs, than allow you to grow a plant in your home without some of the profits going into their coffers. This policy is ludicrous. It has surely contributed to our dependency on foreign energy sources. Our policies have other countries literally laughing at our stupidity, most notably Canada, as well as several European nations (both Eastern and Western). You would not know this by paying attention to U.S. media sources though, as they tend not to elaborate on who is laughing at the United States this week. Please people, let's stop the rhetoric and start thinking about how we can truly become self-sufficient.

With that I say good-bye and good luck.

All the best,

Andrew Lahde

 

[dearwinter219]

Originally Posted by brettTHEjett

Originally Posted by DearWinter219

^I'm never gonna forget that logic sir

. Hopefully, i'll put it to use one day.

If I won the powerball and took home 200 million or something ******ed, I'd go hard - but in a normal world. As soon as you spend 20 million on a house you set yourself apart from the rest of the world and are between the elite like MJ and will smith and tom cruise.
Now imagine living in the same city you do now, yet you are the richest man on your street without question. You live in a normal house worth $200k but it's the most insane cool pad in all of the U.S. and you have growing assest all around the world in France, Tokyo, Russia, Cuba etc etc.

The rest of the world> "Elite" rich.

Being mega rich in a normal lifestyle would be so awesome

. Local Celebrity mentality keeps a humble approach to being world class wealthy. Life can't get boring.

YES I've thought about this before hahahaha

Well I've alread picked out the subdivision I'd livei n if I got DUMB rich... it's only about 20mi. outside of my current hood. Ialway figured I'd never be the "Runaway rich guy" type. I want to be able to shine in the place where I first got my spark, ya know?

 

[brettthejett]

Originally Posted by DearWinter219

Originally Posted by brettTHEjett

Originally Posted by DearWinter219

^I'm never gonna forget that logic sir

. Hopefully, i'll put it to use one day.

If I won the powerball and took home 200 million or something ******ed, I'd go hard - but in a normal world. As soon as you spend 20 million on a house you set yourself apart from the rest of the world and are between the elite like MJ and will smith and tom cruise.
Now imagine living in the same city you do now, yet you are the richest man on your street without question. You live in a normal house worth $200k but it's the most insane cool pad in all of the U.S. and you have growing assest all around the world in France, Tokyo, Russia, Cuba etc etc.

The rest of the world> "Elite" rich.

Being mega rich in a normal lifestyle would be so awesome

. Local Celebrity mentality keeps a humble approach to being world class wealthy. Life can't get boring.

YES I've thought about this before hahahaha

Well I've alread picked out the subdivision I'd livei n if I got DUMB rich... it's only about 20mi. outside of my current hood. I alway figured I'd never be the "Runaway rich guy" type. I want to be able to shine in the place where I first got my spark, ya know?

Word. Think of all the local hotties you'd have no problem slaying and/or wifing

and this dude Andrew Lahde clearly

man of wisdom

 

[doctorshoes]

Nope, wealth=bliss

 

[biggie62]

More temptations because you have access to more things. But it's all about self control. There are cons to everything in the world. Why even make thistopic it's common sense.

 

[yungmatt]

Originally Posted by brettTHEjett

If I won the powerball and took home 200 million or something ******ed, I'd go hard - but in a normal world. As soon as you spend 20 million on a house you set yourself apart from the rest of the world and are between the elite like MJ and will smith and tom cruise.
Now imagine living in the same city you do now, yet you are the richest man on your street without question. You live in a normal house worth $200k but it's the most insane cool pad in all of the U.S. and you have growing assest all around the world in France, Tokyo, Russia, Cuba etc etc.

The rest of the world> "Elite" rich.

Being mega rich in a normal lifestyle would be so awesome

. Local Celebrity mentality keeps a humble approach to being world class wealthy. Life can't get boring.

YES I've thought about this before hahahaha

I have said this for years...

Keep the fame, just gimme the money

 

[brettthejett]

My dad's best buddy is a Russian Billionaire.

He works 14-15 hours a day and hates life BUT when he travels, instead of economy class, he has his own jet. Things like that justify your life if you actuallyenjoy your work and working conditions.

 

[dead in 09]

Originally Posted by brettTHEjett

My dad's best buddy is a Russian Billionaire.

He works 14-15 hours a day and hates life BUT when he travels, instead of economy class, he has his own jet. Things like that justify your life if you actually enjoy your work and working conditions.

you better get it in with him (pause)

 

[wickedxcl]

more money more problems I guess...but I would rather be wealthy with problems, than poor with problems...

 

[bryanne2210]

The more money you have, the less real people become around you, family and friends included!!! People expect you to share the wealth based on theassumption that they know who you are, and then talk +!#@ when you don't give in. I think the best thing in life is work hard and get yours rather thanWINNING IT BIG, because if you work hard for it, nobody can ask you for anything!!! Funny thing is, I daydream of winning that lottery

. And agreed I'd rather be wealthy with problems than poor with even moreproblems!!!

 

[brettthejett]

Originally Posted by bryanne2210


The more money you have, the less real people become around you, family and friends included!!! People expect you to share the wealth based on the assumption that they know who you are, and then talk +!#@ when you don't give in. I think the best thing in life is work hard and get yours rather than WINNING IT BIG, because if you work hard for it, nobody can ask you for anything!!! Funny thing is, I daydream of winning that lottery

. And agreed I'd rather be wealthy with problems than poor with even more problems!!!

Another great point.
If you win the powerball or come upon mega money, only tell your mom and tell her to keep it shut.

 

[keithahundred]

If I hit for the mega millions I'm just telling my moms, brother, and sister real talk I would set them straight and after that I'm going to get thatlambo and stunt in the hood with it, I wouldn't buy a huge house just a condo in downtown Atlanta, don't care to much for super big cribs, fear a N_from the hood might squad up on me on some hating *%+ and bomb rush my spot

 

[dearwinter219]

Originally Posted by brettTHEjett

Originally Posted by bryanne2210


The more money you have, the less real people become around you, family and friends included!!! People expect you to share the wealth based on the assumption that they know who you are, and then talk +!#@ when you don't give in. I think the best thing in life is work hard and get yours rather than WINNING IT BIG, because if you work hard for it, nobody can ask you for anything!!! Funny thing is, I daydream of winning that lottery

. And agreed I'd rather be wealthy with problems than poor with even more problems!!!

Another great point.
If you win the powerball or come upon mega money, only tell your mom and tell her to keep it shut.

Pssh, I'd tell the world... right after I told the guy at the gun store to order the extended clip. Then I'd buy manslaughter charges from people

.Still want my money?

 

[thagreatj]

Throwin one of those Cochran type lawyers on my Brothers case, buyin off this house, gettin my moms another house, and im good. I dont even need to stunt.

but being wealthy has its cons as Luda said, but also like him, I am pretty damn sure i could work through those problems lol

 

[slamcity]

Everything in life have their own pros and cons

 

[keithahundred]

^^^ give me the wealthy cons, screw being poor and suffering

 

[bryanne2210]

Originally Posted by DearWinter219

Originally Posted by brettTHEjett

Originally Posted by bryanne2210


The more money you have, the less real people become around you, family and friends included!!! People expect you to share the wealth based on the assumption that they know who you are, and then talk +!#@ when you don't give in. I think the best thing in life is work hard and get yours rather than WINNING IT BIG, because if you work hard for it, nobody can ask you for anything!!! Funny thing is, I daydream of winning that lottery

. And agreed I'd rather be wealthy with problems than poor with even more problems!!!

Another great point.
If you win the powerball or come upon mega money, only tell your mom and tell her to keep it shut.

Pssh, I'd tell the world... right after I told the guy at the gun store to order the extended clip. Then I'd buy manslaughter charges from people

. Still want my money?

That extented clip can only protect you for so long! You better be readyto stay awake, because one way or the other, some of these goons, maybe even in your circle will flip the script for a big pay cut!!!

 

[dendanskesimon]

Originally Posted by Keithahundred

It's just one of my thoughts, if someone is wealthy and they have all this money to buy what he or she wants, do you think it takes the meaning out of the things they buy, I mean opposed to someone who has work long shifts just to get the things they want, to that person what they buy means alot, because they know it took hell to get it so they would cherish it.

NO! because you still had to work your way up to be able to make those purchases. Unless your paris hilton or someone like that, and in that caseits due to their parents spoiling them. those Bs are the few that dont appreciate their wealth. But Im sure they dont mind being able to buy whatever they want

 

[biglescobar]

People definitely treat you differently when you have money as opposed to not, I can speak from first hand experience as Ive been on both sides of the fence...
There are many,many cons that come with being wealthy and having money, but thats how the game goes.

A person without money wouldn't even be able to relate if they heard the complaints and problems rich people gripe about, the whole thought process is muchdifferent..

 

[lurkin2long]

lol ask the 20 year old NTr who just won the lotto.

im sure ppl will treat him different.

 

[goldmember]

More money = more fake friends/partners , etc.

They WILL be when your doin it but they will not even remember you once you hit rock bottoms.