Can someone ever have sufficient money?

[hallenrm]

Money is a strange commodity, it is never sufficient to fulfil one's need or greed.

 

But, i still want to know your opinion. Do you think that you have sufficient money, and that you are not actively seeking more?:esmoking:

[TheBigDog]

I have sufficient money, but I choose a lifestyle where I still want more. Money affords many things. High income is nice, but it is the ability to keep your costs below your income that is most important. Most of the "millionaires" in the US are income wise well within the middle class. Many people with incomes in the higher levels live so far beyond their means that the are living poor in an expensive house with an expensive car. Most millionaires are self employed and run the local businesses that you see. Some are executives and middle managers. Others are factory workers. The smallest groups of millionaires in the US are those who inherit wealth, and those who win lotteries.

 

The basic rules are these...

 

• Pay yourself first - if you are not paying into a retirement fund before you pay for *anything* else you will be old, poor and dependent
  
• Put your money to work - compound interest is the magic of wealth for even the lowest incomes
  
• Live within your means - use budgeting to decide the priorities in your life and keep your costs below your income while leading a satisfying life
  
• Secure insurance to protect yourself from catastrophic costs
  

 

Two books to read. The Richest Man in Babylon, and The Millionaire Next Door.

 

Anyone can get there. Model yourself on people who have.

 

Bill

[Zythryn]

Ditto ^ :esmoking:

Also, your question

Do you think that you have sufficient money, and that you are not actively seeking more?

 

Are really two different questions. To the compound question I would have to answer no, as I would not answer affirmative to both parts.

 

Yes, I believe I have enough money. But part of that belief is that my investments will continue to generate as much as inflation deteriorates my savings. So I am actively seeking more.

[InfiniteNow]

Two words: individual differences.

 

Sufficient to one is lacking to another. However, those who were successful in the evolutionary past tended to be those who acquired the most and the proper times, so it's never really enough unless you let it be (i.e. we have an inherent tendency toward getting more).

 

What's the saying? You do not own things, things own you. I want to go all buddhist nonattachment, but frankly I enjoy having a 42" flat panel and would put one in every room if my income were greater. :esmoking:

[gribbon]

For some greedy f*ck's, there can never be enough. Some are wasteful with their cash when they get wealthy, (i.e Elton John), but others despite having great wealth are incredibly thrifty.

 

Humans will always want more than their neighbours. I expect the richest person on earth (Bill Gates) feels that he has enough, but the second richest probably doesn't. :hyper: ;)

[jackson33]

have asked this question to many of the wealthy, which in some manner always gets the same reaction..."at some point it becomes a game".

 

greed, IMO is never the motive, unless your talking illegal activity to begin with.

[PuGZ]

I'm still dependent upon my parents, so any money I do earn is more than I need! However - and I may be in the minority in saying this - I do not yearn for the big bucks. I'll be quite happy living on the median wage as long as I'm in my dream job doing the work that I've always wanted to do, surrounded by a family I love. I think a lot of people confuse money and wealth.

[Tormod]

I think a lot of people confuse money and wealth.

 

Amen. And I predict you will be there too in a decade or two.

[PuGZ]

I've no doubt - it's easy to talk big when you don't have bills to pay.

 

That said, a lot of kids at my school want nothing but money from the future -- at least I'm not setting myself up for disappointment!

[Michaelangelica]

Can someone ever have sufficient money?

I don't think so.

There is always a bigger, boat, house, car to buy.

There are more expensive restaurants, more first class travel etc

 

These also link into our primitive needs for group and social status.

 

The money available takes up the things available

 

Perhaps "yes" if you are a buddist.

[DFINITLYDISTRUBD]

When I have-

Decent wood working/carving tools

A decent welding rig

A decent lathe

A decent mill (and drill press w/machinist vice)

A brake press (and tooling)

A roll former (with tooling)

A really Good Anvil and "smithing" tools

A kiln

A propper glass working furness

A top notch forge, crucibles, and other smelting tools

Plenty of raw materials to play with. (scrap glass, aluminum, iron, copper and steel)

A decent building to house it all

a steady income frim ot all so as to be able to run it rather than slave for another as I do now

and actually own my home (the bank owns ti right now)

I will have all I need and need no more than enough. (20 or 30k a year would do)