wealth

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1. The Millionaire Next Door describes how wealth moves through generations in the US. First, an immigrant comes to the US. Note that for any wave of immigration, the immigrants who make it to the US are not representative of a typical person from their native country-- the immigrants are the risk takers and/or priviledged members. The immigrant works their butt off, makes some money, spends nothing, but puts their kids through college. These college kids do well, as they learn work ethic from their parents and are able to get a good education. However, the grandkids become waste products, since they never saw their parents working as hard as their parents saw the first generation immigrant parents. Because of this work ethic dilution, the US needs to keep importing more entrepreneurs. :)

2. The same book claims that statistically, most millionaires do not spend money, they do not own Rolex watches or drive sports cars or own new suits. Those are owned more often by people who want you to think they are rich.

3. If you want to feel rich (where your assets are greater than your needs and desires), learn to spend less money, do not live in a rich town, do not hang out with rich people.

4. Delayed gratification is an important skill to practice and teach. Rather than enjoying buying stuff all the time, put off most purchases, and enjoy what you have as well as the anticipation of buying something in the future. And more importantly, enjoy giving.

5. When you are feeling poor, keep in mind that you probably live better than most kings and queens throughout history, as you probably have a refrigerator, running water, a toilet, and electricity. (Advice from jm.)

6. The gap between the rich and poor in the US is very sad, but I don't know of a country I'd like better than the US, and which is better for people overall.

7. It is not a sin to be wealthy, but I'm sure it is a sin to not put your wealth to good use.

8. On the Bill Cosby Family show, his young daughter Rudy says "Dad, are we rich?" and he replies "Your Mom and I are rich. YOU have NOTHING!" :)

9. Here is another interesting book about wealth, in this case about idiots with new wealth (as opposed to idiots with inherited wealth): Bobos in Paradise.

10. Recently on vacation in a pool, a kid about 12 or 14 was talking loudly to his friends (but loud enough for others to hear) about his Dad's new $16,000 Rolex watch. Is this kid a f***ing idiot or what? What is wrong with parents that allow them to raise kids like this? See also my watch page.

11. And then there is skiing. What is at about this sport that attracts so many a**holes? The other day I saw three separate incidents of loudly dressed skiers reaming the poor teenagers who worked in the ski shop and restaurant. What the hell is their problem? Why doesn't someone start a ski mountain called "No Snob Zone" with signs about required behavior...

12. See the Vancouver article by Ben Hyde.

13. GuideStar.org is a great site for finding charities. Fidelity and Schwab have awesome charitable giving accounts; write them one check a year (makes your taxes simple!) and then from that account, using the Internet, make donations to the charities of your choice, with the option of doing it anonymously!