Source: TW
Based on my conversations with self-made rich people, these are the greatest things about rich ranked:
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The sense of accomplishment and confidence financial achievement gives you. We all have tough times. Being able to look back and think “I am great because I did something great” is helpful.
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People treat you better everywhere. You need to signal various ways, from donations to clothes and watches, but it is real and feels good.
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Not having to think about expenses below some number. The prices at restaurants and grocery stores stop mattering, to the point where some rich people don’t even know what things like a banana cost, because they never think about it.
(Huge drop off)
- You can travel better, from Uber black to business class and jets. It saves time and feels good.
(Big drop off)
- Fancy cars, second homes, gadgets, etc. Cool but not as cool as people think.
Your life in some ways also becomes worse if you let it, from you becoming a target in lawsuits and scams or annoying you for money to spending more time with lawyers and accountants.
Based on my conversations with self made rich people, becoming rich is a very different experience from what you imagine and not nearly as great as you expect it to be.
Like Munger always said: true wealth is being surrounded by people who love you.