What is Digg?331 Comments
- SpectralSounds, on 06/23/2008, -8/+119Or you could be like my grandparents who are millionaires now.
Save up money, invest a lot in the stock market. Live your whole life without luxuries like hot water or television. Live in arizona without air conditioning keeping the house cool, it keeps your house just under "kill you dead hot". Don't bother putting any carpeting in your house, because it will just eventually end up getting ruined anyway... so, why waste the money? Eat enough food just to keep you alive and don't ever leave the house because then the air conditioner would have to run a little more, and we can't have that.
I could list a lot more examples, but I won't. What is the point of being rich, if you aren't going to use it to make your life any better? - justice7, on 06/23/2008, -4/+112Money is worthless if it is never spent
- mustafya, on 06/23/2008, -5/+113My father's boss is part of the family that founded Murphy Oil Corp. His wife wanted to go shopping in NY so she took the private jet to NY and back. They have no idea what it is like to pay bills or worry about money. He has accountants that take care of all the bills. All him and his wife have to do is sit back and do whatever the hell they feel like.
They are great people to. His CPA gave him the choice of taking a capital loss on some stock or giving everyone at the company he owns a $30,000 dollar bonus. Both options had the same net effect on this guy's wealth. What did he do? He sold the stock because he said he didn't feel like his workers deserved the bonus.
Before you say maybe they didn't. Keep in mind this guy's workers add approximately $2.5 million a month to his wealth.
His oldest son got a Ferrari for his 18th birthday. Only one of his kids works. He wanted to be an anthropology professor for the University of Arkansas. UofA turned him down because he had no research published. So daddy donates $5 million to the university in return for his kid getting a tenured spot as a full professor. Another kid just spent 5 years yachting around the world.
In my experience those born truly wealthy have absolutely no idea how a normal person lives their life. - DrTubes, on 06/23/2008, -3/+99"What would you do if you had a million dollars?"
"I'll tell you what I'd do man! Two chicks at the same time man." - santaliqueur, on 06/23/2008, -4/+93If I had $1 million, I'd spend $950K on hookers and booze. Then I'd spend the rest foolishly.
- tonytheshoes, on 06/23/2008, -2/+77I always imagined they swam around in their huge Scrooge McDuck money-pools...
Illusion shattered :/ - Calinthalus, on 06/23/2008, -4/+72Since when is a family that makes 100k a year considered rich? In today's economy?
- Suzilla, on 06/23/2008, -1/+62They considered people making $100,000 "rich"?
I once heard a definition of rich as being when your money works for you, rather than you working for money. People who have sufficient $$ socked away to be living off the interest would be, by this definition, rich, whereas people who are working (that is, generating active, rather than passive income) every day are not. - CJ117, on 06/23/2008, -12/+66100K a year is HARDLY rich. It's more like middle-upper middle class. If you live in any part of LA that's not the ghetto, that's pretty much what you need just to survive out here. This article is a load of crap.
Now let's examine 1,000K a year or more... just how "miserable" are THESE people? - mlrigsby, on 06/23/2008, -2/+51Yeah, I'm crying in my beer for all the rich people.
- kolyana, on 06/23/2008, -0/+46The article was amazingly 'light' and offered really no substance at all; I was disappointed. 4 paragraphs of largely fluff.
- jonshipman, on 06/23/2008, -1/+44I make 30k a year :(
That bonus would have doubled my yearly income! :o - TTURabble, on 06/23/2008, -3/+46Money is worthless if it is wasted.
- trer, on 06/23/2008, -0/+42"I would do absolutely nothing".
"You don't need a million dollars to do that. My cousin's broke and don't do *****." - azninvasion2000, on 06/23/2008, -8/+49mo money, mo problems.
- sexybobo, on 06/23/2008, -0/+30like he said basic necessities.
- ikcilabd, on 06/23/2008, -2/+31Money spent on getting wasted is money well spent
- bbqsalad, on 06/23/2008, -0/+26***** a
- MatthewDuke, on 06/23/2008, -2/+27I thought the same thing, $100k/year isn't CEO money, it's just an average management position in a non-rural setting.
Anyone who has to work a job because they cannot afford to live off their wealth alone is middle class. - Merendino, on 06/23/2008, -2/+26"Wasted" is a relative term. If I wanted to spread $100 worth of honey on a hookers body just to watch her get annoyed at having all that sticky honey on her.... it would be worth it. For me that is. For you? Who the ***** knows....
- mmalecki, on 06/23/2008, -1/+24This article only compares the amount of time people spend watching TV versus commuting for people who are rich versus poor. It finds people who are rich watch less TV and commute more. Unfortunately, the article does little to address how much time rich people (whatever your definition of them may be) do leisurely activities other than watching TV. In other words, the author assumes watching TV is what people want to do in their free time.
Buried for shallow analysis. - MrWhite7, on 06/23/2008, -4/+26Says the guy with a computer and internet connection
- Aadain, on 06/23/2008, -0/+22That is probably the best definition of 'rich' I've ever heard.
- MatthewDuke, on 06/23/2008, -1/+22CJ117 was keeping the units the same for comparison and emphasis.
- Dotnetsky, on 06/23/2008, -4/+25has got to be one of the dumbest articles I've read in recent times. Besides describing people making a lousy $100,000 a year as "rich", the article in general actually says little to nothing. Is the Washington Post so hungry for "news" that they must stoop to this?
- inactive, on 06/23/2008, -1/+21I've heard both sides of the story. Rich people don't get rich by spending money, as well as, what's the point in having money if you're not going to spend it? Personally, I fall into the latter belief. Save up and invest. Use your money wisely, but not necessarily always sparingly... Hell, you only live once and I'll be damned if I'm going to live my life worrying about my air conditioning running up the electricity bill.
- Griminald, on 06/23/2008, -2/+22Well to a person making $20K, those making $100K are rich. Then again, to those making $100K, the others make $20K *because* of their leisure time (aka "They're Lazy").
But it depends on where you live, yeah. Here in Jersey, $100K is not even close to rich. - bxblox, on 06/23/2008, -0/+20Bet the family won't be complaining when they get their inheritance checks.
- f4nt0m4s, on 06/23/2008, -1/+20SpectralSounds story reminds me of my grandparents. They immigrated to America after World War 2 and built up their equity and bank account from nothing. Now they are old and they have tons of money sitting in the bank and property that is worth good money. They have no interest in retiring or using the money they have to move to someplace warm or spend their remaining years enjoy the fruits of life. It seems ironic, they came to America looking for a better life, and now that they have the potential to live it they are letting the money sit in the bank to someday be inherited (cynical view, I know).
I've seen both sides of the spectrum, I have seen families that don't save up tons of money and they live life to the maximum capacity they can afford. I think having some money saved away is always a good idea. I said it before when a similar story showed up on Digg, I'm a simple guy who has simple wants. I just want to be able to enjoy nature, have a decent place to call home, have good family and friends, and be able to enjoy a cold beer. Yeah, it would be kick ass to afford a 150,000 car or a yacht or something, but ultimately I don't think that would complete me. One day I will get a motorcycle, and that is something I can afford.
Having moderate amounts of money lets you appreciate the finer things in life, like sharing stories over a cold beer with some friends, smoking a cigar and watching a football game, or strolling through the park at 2 in the morning staring up at the sky looking at the thousands of stars that liter the sky.
But, with happiness, to each his own. - sexybobo, on 06/23/2008, -0/+19Money can pay for better health.
- bxblox, on 06/23/2008, -1/+19"New money" rich people spend most of their time working to make money. "Old money" people spend most of their time spending money and believing they're rich because they deserve it.
- inactive, on 06/23/2008, -0/+18According to this article Homeless people have the most fun, because they dont' have to work thus have more free time.
- colin8651, on 06/23/2008, -0/+15And spend it on the biggest AC unit that money can buy.
Your kids are not going to have the same respect for the money you saved than you do.
I want my last check to bounce. - RizzoFrank, on 06/23/2008, -0/+15Depending on how you became wealthy is the determining factor in your happiness from wealth. If you truly worked and earned your wealth then you probably will be happy knowing that you have achieved something. If you acquired your wealth from inheritance, stealing from your workers, scams, donations, etc. your happiness will not have the same effect as earning it.
- username7D8, on 06/23/2008, -0/+15where the hell do you eat lunch everyday, Nobu? I work in NYC... avg lunch for me ~ 10 bucks. And no fast food!
- chanop, on 06/23/2008, -0/+14It also depends on what the person considers Leisure. A wealthy person may consider a game of Golf with their colleagues work, when a lesser off person would consider it leisure.
- geobay, on 06/23/2008, -0/+13You win
- surasshu, on 06/23/2008, -0/+13They do, but they told this guy that they were "doing taxes" to ***** with his research.
- diggthisman, on 06/23/2008, -1/+14health > money
You need your health to enjoy the money that you have; money is worthless if you don't have your health - paintpro, on 06/23/2008, -1/+13I like to drink expensive scotch and pee on poor people
- iamgreg007, on 06/23/2008, -0/+12They don't spend time reading articles like this...that's for sure.
- sexybobo, on 06/23/2008, -1/+12almost every one in the USA is rich. compared to a lot of the world.
- ganymede2010, on 06/23/2008, -7/+18Beyond having the basic necessities. Quality of life is an illusion of the mind.
- DangerCollie, on 06/23/2008, -0/+10The problem is that the habits that make you wealthy are the same habits that make you a miser. And it gets to be a habit that's hard to break. You turn into Warren Buffet when it comes to selling investments and just never get around to it.
The same habits that make a successful business person start creeping into your personal life. I could afford a nicer house than I live in, a nicer car than I drive. But whenever I've done that in the past it seems inevitable that my stress level goes up. I get nervous about parking the expensive car in the grocery store parking lot, I spend more time taking care of a big house than a modest one. All the small extra expenses really add up over time. The last time I bought a pair of $200 sunglasses, I lost them. I've never lost a $12 pair and don't worry about it. - TopBanana, on 06/23/2008, -1/+11The article confuses cause and effect.
These people are better off because they don't spend all their time watching TV. - jerrycan, on 06/23/2008, -0/+10That's a great story. I like the part in the middle about not dolling out a bonus.
- lordewoks, on 06/23/2008, -0/+9How about making ~100k a year and spending your entire day on Digg?
- wipis, on 06/23/2008, -0/+9If people would just live slightly below their means they would be able to save some money for a nice retirement and the occasional vacation. Just because you make a lot of money doesn't mean you need to spend it all. Most people prefer to live outside their means. Don't buy a new BMW just settle for the Chrysler. Take the remainder and put it in CD's or an IRA. So you lost the status of a BMW but when that extra money sends you on a vacation in Cancun you'll be thankful.
- dafragsta, on 06/23/2008, -0/+8desiring comfort != materialistic. Eating good food != materialistic. Bling and cars == materialistic. Forgoing comfort to save money isn't avoiding materialism, especially if you can afford it. It's just being miserly. You don't get to take it with you, and that attitude is VERY unmaterialistic.
- cypriss9, on 06/23/2008, -3/+11There's also a relationship between being rich and being intelligent. It's just dumb to waste your life in front of a TV.
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