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Do you think wealth is a good thing? Are you wealthy? Do you want to be? Pro's/Con's?

First we have to define wealthy. Many people think that millionaires are wealthy; but in reality they're not. The average 5 bedroom house in Kent will set you back way over £1m.

Some people see it as £10m or £15m (a lottery win almost). In reality this is not even close to it. To live the "millionaire lifestyle" people often see the super rich enjoying would typically cost around £15m per year to maintain; so that lottery win would disappear quite quickly.

I'm what some people would call the 1%; but in reality I'm nowhere near the 1% not even in the UK. Many people I find either envy the wealthy or they hold them with contempt or distain.

I think many people have the misconception that money = no problems when in reality the opposite is invariably true. We still have the same problems, & face many problems others don't.

This is especially true with trust issues, as you never know if someone wants to get close because of your wealth or they want to be with you. Also it's a lot easier to lose it than it is to make it. You also have the burden that with more money generally also comes with more expenses. Bigger house, more cost, more insurance, more furnishings etc. When you get to a level also there is a continued expectance to obtain or spend more.

In reality I live quite a humble life. If you met me on the streets day to day you'd not notice me from a thousand other faces in the crowd.

I started on a council estate, literally dirt poor. My life is a literal rags to riches. I was even homeless for 2yrs eating from bins.

Now I'm the owner of my own IT company. But as I said before, more money brings added strain vs gain & the same can be said for business. My company employs 55 freelancers as a workforce & taxes paid last year was over £3.5m GBP.

The benefits are as expected though.

So is money the root of all evil? Annually I'll give almost 10% of my turnover away to charities, good causes, & random strangers.
DeluxedEdition · 26-30, F
the dark truth about wealth is when you obtain it, it's all you have. because your "friends" aren't your real friends anymore. your family always wants to borrow money and expects hand outs. they even try to guilt you into implying that you "changed" or this or that. you can't trust people. everyone begins plotting and hoping for your downfall.
L33TH4X0R · 41-45, M
@DeluxedEdition This is unfortunately correct. I've lost so called friends & many members of my family over my wealth. There is an expectance there that shouldn't be.
DeluxedEdition · 26-30, F
@L33TH4X0R it's wild because you think money will bring you happiness and friends and all it does is bring lonliness
L33TH4X0R · 41-45, M
@DeluxedEdition Money is not the be all & end all. People see it as a solution to problems between but it reality it shows bigger problems. Narcissism, greed, etc.

The truth is money gives you a little more freedom to enjoy things.

I always wanted a Rolex growing up; but when I could afford one I didn't want it. That's another harsh reality; financially you have no more dreams left.
I earn a modest living and I'm happy with that. I'll never be able to afford a house in the city I live but I've come to terms with that..I could own a house in the outskirts or in the country which I think I'd like more. Wealth would be nice I could help my friends and family but other than that I earn enough to afford the things I want and to live a comfortable life so I'm content.
L33TH4X0R · 41-45, M
@MrBlueGuy That's the best way in reality. 100%
Freeranger · M
I'll repeat this as often as it needs to be bludgeoned in to insipid individuals. Money is not evil...it is the "love" of it that is.

If you have worked hard in your life, whatever your background, and you have excelled and become wealthy to whatever degree, you deserve what you have earned. Never feel guilty for that. Ever. You earned it the old fashioned way, and screw anyone who feels you owe it to dispense your wealth. If you're an American, you have any opportunity to improve yourself. Go to work, set a goal. I did. I retired a bit early due to having taken whatever I earned and wisely invested. I grew up a farm kid with nothing. That's the great thing about our Nation. If you apply yourself and persevere, you CAN succeed.....I don't care what the naysayers say. Believe it!
L33TH4X0R · 41-45, M
@Freeranger 100% agree with you there.
Freeranger · M
@L33TH4X0R thanks man, I appreciate that
L33TH4X0R · 41-45, M
@Freeranger I would have said more last night but it was 3am when I saw your reply.
I agree that it is peoples love for money which is the evil part. I always wanted to be financially secure, & independent from fiscal challenges. Now that I am, I'm content.

Most people have the ability to do so too & I find it somewhat annoying at times that the wealthy are blamed for working hard. Of course there is a limit & even I can see that. All the money I earned was not spent but invested & wisely done so. I made the money work so I didn't have to later in life.

People often see me now & make observations & assumptions. I've a 6 bedroom London townhouse in a nice area; today it's worth around the £40-50m but when I got it originally it was just over £2m & almost derelict. I lived in & worked on the property for 10yrs until I was happy with it. For 90% of my life I ate & drank the cheap stuff. More often than not I'd cook for myself, rarely eat out. A family can spend £40 in McDonalds for a group of adults & children; the same being said I can buy a weeks worth of food for the same £40.

My main car is a Bentley. British, comfortable, sturdy. I bought it pre-owned for £34k but did so because it's reliable, no road tax being an older car & for the same reason I was able to get it on a "classic car insurance", full comp today is less than £500 per year.

When I was young I always admired & wanted a Rolex watch. I thought that was the sign I knew I'd "made it". When I could afford one though, I no longer wanted it. Incidentally I own one today & went with a "Date-Just" for £1,100.

Probably like you I have always been & even today a workaholic. Another thing people often ignore. It's not uncommon even today for me to be working 90+ hours a week. I was not born with a silver spoon; for 40yrs nearly I never took a holiday as I saw it as wasteful; people will think nothing of spending £10,000 for a holiday to Disneyland & then complain they are broke.

I had a mantra which helped me in the early days & stuck with me. I'd think to myself "Do I really need this?" about anything I thought of purchasing. In truth most things are a "no". A watch, a car, a holiday, new clothes etc. If it's not necessary then it's a waste of money.

I also do intend on sharing my wealth to others; I've always said, "there's no point being the richest man in the graveyard." I like to give other a hand-up, if someone wishes to better themselves & work hard, then I'm happy to help but I object to lazy people who do nothing & then complain...nobody owes you anything in this world; on the flip side, nobody can stop you achieving your goals & dreams.
QueenandCrown · 41-45, F
Money is not the root of all evil. People are. Money cannot do anything other than what we are willing to do with it.
Later on in life, I've learned true wealth is in our minds not our bank accounts.
Money can define man made status, but having honor and class are statuses that money can't buy.
L33TH4X0R · 41-45, M
@QueenandCrown Thank you. I have always said it doesn't matter when you start, what matters is where you finish & that you're happy.

Life is limitless. You're restricted solely by your own actions & ambitions.

I've always said (personal belief)..."If you're born poor, it's not your fault; but if you die poor, then it is".
QueenandCrown · 41-45, F
@L33TH4X0R I think being 'poor' is a state of mind too. There are people who possess a lot of money but have very low standards.
L33TH4X0R · 41-45, M
@QueenandCrown Regardless or circumstances; every day above ground is a good day & people should find contentment with what they have.
Wiseacre · F
I'll respond to ur last paragraph: No...I've never been poor, so can't relate. But I do agree when u have a lot of money, u also have big responsibilities. I also give generously to charities and support the homeless.
L33TH4X0R · 41-45, M
@Wiseacre In reality you give more than I do. By that I mean as you have less but give; you contribute far more than me by way of percentage.
Wiseacre · F
The disadvantaged don’t care about that...support is support.@L33TH4X0R
Picklebobble2 · 56-60, M
🙄Meanwhile, in another reality, a single Mum is trying to feed; clothe and house three kids in a cold caravan while finding it hard to keep the kids warm and work her cleaning job enough hours to cover the bills
L33TH4X0R · 41-45, M
@Picklebobble2 True, this is the realty of far too many; it shouldn't be that way for anyone. I know more than anyone growing up.
BananaBrown · 41-45, F
Wealth is good when shared with the less fortunate. I’m not wealthy now and I have no desire to be wealthy. If it falls into my lap, fine, but I’m not actively seeking it.
L33TH4X0R · 41-45, M
@BananaBrown I set out on my path to earn a living, that's all. I had no ambition other than financial independence. I think that's why I help others, & encourage others to do the same. The "top 1%" earned more money last year alone to solve world hunger 3x over. I find that obscene. But I also know that the only analogy is true; the more you have, the more you make. Money breeds money.
It feels almost like you just wanted to share that you have some money in your bank account
L33TH4X0R · 41-45, M
@StormInaTeacup No, I joined a group on here with others & was looking for insight & input as to how others view wealth because we're all different. Also the group I joined had 41 members & no comments, stories, posts & thought I'd open with a life question.
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L33TH4X0R · 41-45, M
@BluntSm0ker There is nothing shallow with being successful. I help out both here & in the 3rd world; not to be less shallow but because that's just who I am; because it's the right thing to do.
It is awful & snuffs human rights as well alienates, since it's federal abuse
TheBannibalOne · 61-69, M
Yes it is.
A multi-millionaire does put up with the crap we do.
L33TH4X0R · 41-45, M
@TheBannibalOne Correct. We still do I'm afraid. It's only the Billionaires & Trillionaires who don't get crapped on from a great height.

Big businesses hide their wealth to avoid paying tax. I could to a certain extent but think it's immoral.

 
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