I have worked with some very wealthy people. Old money and new money are very different. The old money have learned how to protect their wealth and don't worry about becoming poor. Most of the new money don't have a clue. Are they happy? Probably the same as the average working person, some are and some aren't. The secret is not having what you want but wanting what you have no matter your income level. My 911 is 30 years old but I drive it every day and it still puts a smile on my face every time.

Some people are just not programed to be happy no matter what they have in the bank.

Bernie

AFAIK, most of the rich folks I know were once poor. So I'm sure they think about it once in a while. The richest guy I know is a billionaire and lives pretty well. We used to hang out a lot and, while I don't think he was ever poor, he sure has not lost his boyhood excitement for his toys (mostly old Porsches and Ferraris). But the guy works himself to the bone. He used to fly to Japan every two weeks for business. He told me he is tired every single second he's awake. WTF? I understand drive and ambition and he's not really old enough to feel like he's done with his career. But when you have all the money in the world and feel tired all the time, you have your priorities mixed up. The richest guy I knew before him (also a billionaire) committed suicide in 2001. He suffered from depression. Again, all the money in the world, an amazing career, loving family, lots to be proud of, but he couldn't get his depression under control. Hanged himself with a vacuum cleaner power cord. Go figure it out.

Being $40 million short, I'm certainly not a billionaire. But I have enough money that I have plenty of time to relax, be happy, pursue my interests and to occasionally entertain my favorite fantasy - which is that I am a multi-multi-millionaire who is only $40 million short of being a billionaire. :)

I was poor at one time.
I dreamed not about being wealthy, but about having lots of money so I could spend it on expensive toys and stuff! Big difference.

I grew up and matured and now see money as something to collect, not spend. Money provides freedom and opportunity and squandering it on toys and possessions is foolish and irresponsible.
I'm not wealthy but I'm comfortable and do not need to worry about finances or retirement, or even working if I didn't want to. Living a relatively frugal lifestyle is mostly the reason. I saved money instead of spend it.

Having lots of money and spending it extravagantly is not the same as being wealthy and probably why many poor people are poor.
Getting wealthy usually requires effort, discipline, dedication, and hard work.

They say you can make a rich man poor and he'll end up rich again, because he knows how to be rich and has that drive. You can make a poor man rich and he'll end up poor again, because he won't be able to handle the responsibility.

I guess this qualifies you as a true "limousine liberal"...

I know someone who grew up in Watts in the 1960s, experienced a couple of tours in Vietnam and had the Army send him to every school he could get. When he retired, he helped build a company that sold for nearly $100M and has started and sold a few since then.

He once complained about new (~$20K) insurance payment he was going to be hit with when his private jet was completed . . . paying it wasn't an issue, but seeing the figure had startled him. I put things into perspective by asking him how much the plane had cost and whether or not it was paid for.

Most of the wealthy people I know remember well what it was like to be on the other end of the stick and are some of the most philanthropic citizens I know because of that- not for tax reasons.

What does? :confused: Fantasizing that I'm rich? :eek: Reread my post. :rolleyes:

I was homeless three times in my life. Sold my plasma for money to eat, scraped and ate food off the pots and pans I was scrubbing when I worked in a dormitory kitchen. At one point, I had less than one dollar to my name and the clothes on my back. Didn't eat for 4 days until I got my first paycheck. 30 years later, I never, ever looked back until reading this thread. To this day, however, I clean my plate and count my change. Have recently lent relatively (to me) large chunks of money knowing I'll never see it again. I am now rich beyong my dreams even though I don't have much money. Debt free, though.

I'm 52 years old. I enjoy my work, have a house, toys, etc. Not rich. It seems that I'm not much more than a bundle of projects and responsibilities these days. Some folks are counting on me, and I deliver. I stay busy enough that it encroaches on my sleeping time. I got a whopping six hours last night.

Anyway, I've said this before here and I'll say it again: I was never happier than when I wasn't sure where I was going to sleep on a given day, and all my stuff fit on my motorcycle.

"If we command our wealth, we shall be rich and free; if our wealth commands us, we are poor indeed."

- Edmund Burke -

Just add in what generation they belong to and your thesis is correct. I avoid the well to do under 40 YO like the plague. I have more wealth in my manners alone than they will ever accumulate on the balance sheet.