I'm wealthy...
Discussion
I’m not but now I’ve got your attention 
Aside from the obvious trappings (interesting word) such as houses, boats and the like, how do the wealthy and mega wealthy utilise their money to improve their lives?
This is more of a hints and tips thread if I might pick up any ideas I can utilise myself on my way to being a billionaire….
One saying I heard that stuck was:
“Do only what you can do”.
He meant it in a business and lifestyle context around time management, rich (very by my comparison) but employs a cleaner and gardener at the going rate to free up that time to allow him to focus on family and the like, the stuff only applicable to him.
If you have the means, this seems like a good use/ trade of money to free up 2 hours a fortnight (and if you get the right cleaner they might do a better objective job than me chasing round with a feather duster between other crises)?
My garden is tiny but ditto if I had a reasonable size garden, get someone in once a month for a good tidy round, even if your capable yourself, provided you use that time productively elsewhere.
There are certain jobs I could do on my car (an ancient XC90) that I’ve sent to the local garage recently, firstly as I get older I couldn’t be bothered with (switching the heater matrix out a main dealer told me was a 3 day job but that could be done in 4 hours) and secondly I want the local garage to be around for the stuff I can’t do on the car which they’ve been great at in the past (circular economy).
Are there any blindingly obvious things that might make a difference to someone else’s life?
“Have a team polish my Lear jet” is obvious, but thinking more down my end of the pool, stuff that I might be able to use as a borderline pauper to improve my lot
Aside from the obvious trappings (interesting word) such as houses, boats and the like, how do the wealthy and mega wealthy utilise their money to improve their lives?
This is more of a hints and tips thread if I might pick up any ideas I can utilise myself on my way to being a billionaire….
One saying I heard that stuck was:
“Do only what you can do”.
He meant it in a business and lifestyle context around time management, rich (very by my comparison) but employs a cleaner and gardener at the going rate to free up that time to allow him to focus on family and the like, the stuff only applicable to him.
If you have the means, this seems like a good use/ trade of money to free up 2 hours a fortnight (and if you get the right cleaner they might do a better objective job than me chasing round with a feather duster between other crises)?
My garden is tiny but ditto if I had a reasonable size garden, get someone in once a month for a good tidy round, even if your capable yourself, provided you use that time productively elsewhere.
There are certain jobs I could do on my car (an ancient XC90) that I’ve sent to the local garage recently, firstly as I get older I couldn’t be bothered with (switching the heater matrix out a main dealer told me was a 3 day job but that could be done in 4 hours) and secondly I want the local garage to be around for the stuff I can’t do on the car which they’ve been great at in the past (circular economy).
Are there any blindingly obvious things that might make a difference to someone else’s life?
“Have a team polish my Lear jet” is obvious, but thinking more down my end of the pool, stuff that I might be able to use as a borderline pauper to improve my lot
The reasoning behind the "flies, floats or f
ks" mantra isn't wrong, but then neither is the Vimes Boots Theory of Economics, also known as "buy cheap, buy twice"
ks" mantra isn't wrong, but then neither is the Vimes Boots Theory of Economics, also known as "buy cheap, buy twice"I suspect much wealth is used to pursue happiness, which is madness as happiness is not as linked to wealth as many might think.
So what to use excessive wealth on? Other people mostly, either through charitable work, donations and gifts, hosting and entertaining others. Buy a supercar so you can share the experience with other people, don't just leave it in the garage to collect dust.
Don't pursue money or revere those that have it.
So what to use excessive wealth on? Other people mostly, either through charitable work, donations and gifts, hosting and entertaining others. Buy a supercar so you can share the experience with other people, don't just leave it in the garage to collect dust.
Don't pursue money or revere those that have it.
MikeM6 said:
I suspect much wealth is used to pursue happiness, which is madness as happiness is not as linked to wealth as many might think.
So what to use excessive wealth on? Other people mostly, either through charitable work, donations and gifts, hosting and entertaining others. Buy a supercar so you can share the experience with other people, don't just leave it in the garage to collect dust.
Don't pursue money or revere those that have it.
Just becomes a competition. So what to use excessive wealth on? Other people mostly, either through charitable work, donations and gifts, hosting and entertaining others. Buy a supercar so you can share the experience with other people, don't just leave it in the garage to collect dust.
Don't pursue money or revere those that have it.
I’m rich so have a boat. The guy over there has a bigger boat so the next one I buy will be bigger than his and before you know it you have billionaires buying bigger and bigger super yachts simply as a willy waving exercise and to be the Big Dick at Monaco when the F1 is on.
MikeM6 said:
I suspect much wealth is used to pursue happiness, which is madness as happiness is not as linked to wealth as many might think.
100% agree with you. The activities my wife and I enjoy most cost nothing, or are very cheap. I wanted to give a couple of examples.
We live in the Essex countryside and are good friends with some of the local farmers. We help out on their shoots with our dogs in the shooting season as well as walking the dogs on some lovely private land, which we have access to, because we help the farmers. This costs nothing, just local community folk helping each other out.
In the summer, we go out kayaking on some local rivers and creeks. Again, other than the price of a Kayak, this is completely free. We sometimes make a weekend of it, camping out somewhere and the kayaking back the next day.
I thought I should add that we have our own business and are comfortable financially. Its taken 20 odd years of hard work, but we can now have time away as the business runs itself. However, previously when we were up to our eyeballs, we enjoyed these activities at weekends.
Wealth is time and health
Anything you can pay for to get your time back is wealthy; a cleaner, maid, gardener etc all give you time back
I have a cleaner who comes once a a week to clean and iron my clothes which saves me aprox 5 hours a week
Have the shopping delivered, that saves me mimimim 2 hours a week
Spend more on better quality food, no UPFs and it s amazing how much better I feel, same with organic food, costs more but no pesticides etc
Same with clothes, better quality - more confidence - last longer, replaced less often, better for my wallet and the planet
You could pay to have the car cleaned if it s not something you like doing as a hobby
I moved closer to where I work, it saved me a hour a day on a commute, more time for me.
I use that saved time to do things like go to the gym, read, watch films and rest, which all improve my physical and mental health
Anything you can pay for to get your time back is wealthy; a cleaner, maid, gardener etc all give you time back
I have a cleaner who comes once a a week to clean and iron my clothes which saves me aprox 5 hours a week
Have the shopping delivered, that saves me mimimim 2 hours a week
Spend more on better quality food, no UPFs and it s amazing how much better I feel, same with organic food, costs more but no pesticides etc
Same with clothes, better quality - more confidence - last longer, replaced less often, better for my wallet and the planet
You could pay to have the car cleaned if it s not something you like doing as a hobby
I moved closer to where I work, it saved me a hour a day on a commute, more time for me.
I use that saved time to do things like go to the gym, read, watch films and rest, which all improve my physical and mental health
Edited by Quattr04. on Sunday 15th February 10:24
996Type said:
Aside from the obvious trappings (interesting word) such as houses, boats and the like, how do the wealthy and mega wealthy utilise their money to improve their lives?
Travel is one of the constants - and that includes private jets, multiple properties and, for some, a yacht or two.It’s 100% about buying time.
Buying “stuff” will never make you happy, but spending money where it gives you time back is the best.
Even if you don’t have large cash reserves, look at your hourly rate (at work or wherever) and look for people cheaper that you. If you can earn £50/ hr working, then it makes no sense to do jobs that you could outsource for £20/hr.
Buying “stuff” will never make you happy, but spending money where it gives you time back is the best.
Even if you don’t have large cash reserves, look at your hourly rate (at work or wherever) and look for people cheaper that you. If you can earn £50/ hr working, then it makes no sense to do jobs that you could outsource for £20/hr.
My folks are mega wealthy
Retired early, go for walks, bike rides, trips out etc
They don’t have much money
Their wealth is health and time / options
I appreciate money can buy some of these to a degree
My idea of wealth is going for a dog walk in the woods and not knowing or caring what the time is
Retired early, go for walks, bike rides, trips out etc
They don’t have much money
Their wealth is health and time / options
I appreciate money can buy some of these to a degree
My idea of wealth is going for a dog walk in the woods and not knowing or caring what the time is
Wealth making you happy is one of the biggest lies we have been made to believe.
If it were true it would make Vladimir Putin one of the happiest men in the world... also Elon Musk doesn't strike me as a particularly happy chap.
Some good points have been made above but true wealth is having all you need and the flexibility to buy back your time. We all have a select number of hours on this earth and once they are gone they are gone.
The other thing I think that helps is to get a job that you enjoy as it's what a decent amount of our time in our younger years will be spent doing.
If it were true it would make Vladimir Putin one of the happiest men in the world... also Elon Musk doesn't strike me as a particularly happy chap.
Some good points have been made above but true wealth is having all you need and the flexibility to buy back your time. We all have a select number of hours on this earth and once they are gone they are gone.
The other thing I think that helps is to get a job that you enjoy as it's what a decent amount of our time in our younger years will be spent doing.
Spare tyre said:
My folks are mega wealthy
Retired early, go for walks, bike rides, trips out etc
They don t have much money
Their wealth is health and time / options
I appreciate money can buy some of these to a degree
My idea of wealth is going for a dog walk in the woods and not knowing or caring what the time is
Retired early, go for walks, bike rides, trips out etc
They don t have much money
Their wealth is health and time / options
I appreciate money can buy some of these to a degree
My idea of wealth is going for a dog walk in the woods and not knowing or caring what the time is
I retired about 9 years ago in my early 50s. Since then I’ve learned to play piano, one of my life’s ambitions, and spend time with Mrs A going on trips around the UK. We love spending time in the garden, enjoy lovely wine, going for walks and pub lunches, keeping fit in the gym and swimming. And many other things that makes me wonder how I ever had time for work.
None of what we enjoy costs a lot.
As I've gotten older, I've come to recognise that the singular, overriding benefit of having money is the eradication of the stress cause by not having it.
I've had periods in my life when the word 'destitute' might have been appropriate. The stress this causes clouds everything else you do. Being able to dispense with that is like growing an extra lung. And the thing is, you don't need millions to achieve this.
So for me, wealth is defined by having sufficient money to not have to worry about money.
I've had periods in my life when the word 'destitute' might have been appropriate. The stress this causes clouds everything else you do. Being able to dispense with that is like growing an extra lung. And the thing is, you don't need millions to achieve this.
So for me, wealth is defined by having sufficient money to not have to worry about money.
StevieBee said:
As I've gotten older, I've come to recognise that the singular, overriding benefit of having money is the eradication of the stress cause by not having it.
I've had periods in my life when the word 'destitute' might have been appropriate. The stress this causes clouds everything else you do. Being able to dispense with that is like growing an extra lung. And the thing is, you don't need millions to achieve this.
So for me, wealth is defined by having sufficient money to not have to worry about money.
Excellent summary, absolutely agree.I've had periods in my life when the word 'destitute' might have been appropriate. The stress this causes clouds everything else you do. Being able to dispense with that is like growing an extra lung. And the thing is, you don't need millions to achieve this.
So for me, wealth is defined by having sufficient money to not have to worry about money.
Arrivalist said:
Spare tyre said:
My folks are mega wealthy
Retired early, go for walks, bike rides, trips out etc
They don t have much money
Their wealth is health and time / options
I appreciate money can buy some of these to a degree
My idea of wealth is going for a dog walk in the woods and not knowing or caring what the time is
Retired early, go for walks, bike rides, trips out etc
They don t have much money
Their wealth is health and time / options
I appreciate money can buy some of these to a degree
My idea of wealth is going for a dog walk in the woods and not knowing or caring what the time is
I retired about 9 years ago in my early 50s. Since then I ve learned to play piano, one of my life s ambitions, and spend time with Mrs A going on trips around the UK. We love spending time in the garden, enjoy lovely wine, going for walks and pub lunches, keeping fit in the gym and swimming. And many other things that makes me wonder how I ever had time for work.
None of what we enjoy costs a lot.
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