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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.
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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.