To work or not to work

And he's absolutely correct. Time if finite -you only have a certain amount of it (and you don't know how much that is; could be one day or seventy years!). Money on the other hand, is infinite; the more you work or invest, the more you can have.

Think about it this way. Imagine I offered you one billion dollars - you would probably be slightly excited about this. The only catch is that you must die in one year. Would you accept this offer? Undoubtedly not. What if I gave you more time, say five years? No... Well, OK, how about twenty years? If you are like most people you will not accept the offer. Your time alive is worth more to you than all the money in the world.

This is why it is so important to keep things in perspective. Certainly attempt to improve your financial situation so you can enjoy more of what life has to offer and so you can help others less fortunate - however, don't do it at the expense of 'stopping to smell the roses'. A few years ago I met a couple who were so focussed on increasing their wealth that they decided to take their children out of all sports and clubs so that they would have more time to build their empire (they were wrapping properties). Whilst I have no doubt that they improved their bottom line, I wonder at what expense?

Cheers

 

And there it is again...choice.

Well done Jane. You are an inspiration and it sounds as though you have everything in balance.

Cheers

 

Jane's comment hit a chord with me.
The only property we buy is for development, or vacant land on which to build houses.
Currently we are doing a 32 lot subdivision in a rural residential area in Qld, as well as building houses in a couple of mining towns in Qld and WA, as well as some house and lands in the Perth area.

Some of this will be buy and hold stock and the rest is just trading stock hence the plan to be cashed up at the conclusion of the construction and sale, which is planned to happen over this calender year.

Just starting to look into the managed funds atm. and will keep diversifying and balancing the portfolio by investing in this area as equity is released from the completed properties.

It definitely is all about 'time' ( and lifestyle in this case)

No, its not the mid life crisis, I had that early a few years ago.
Glad its out the way, now I can focus on important things !

Kevin

 

A lot of very rich people are working 7 days per week....
It's hard to believe that each of them is workaholic...
It looks to me that maintaining the wealth is even harder job than creating it!

I doubt that very rich are really able to do what they want and when they want....but yes....they may have more choices than average people.

 

A differentiation must be made between those who work for money and those who work because they have a passion for it. I think it would be fair to say that Bill Gates and Warren Buffet don't have to work. They choose to because of their love for what they do - it is their hobby. Equally I know of research scientists who don't earn a great deal, but still have a tremendous passion for their occupation and would do it regardless of their financial situation.

As far as very rich people being able to do what they want, when they want (within reason of course) head to Port Douglas or the Sunshine Coast or Gold Coast and talk to a few of them there. Most of the very wealthy people we know are familiar to us because they are in the media still doing what they love to do - working. They have chosen to do this.

BTW, just because one is wealthy and can make more choices does not necessarily bring happiness - but that's for another topic.

Cheers,

 

Sure...For some people non stop work is a hobby (strange hobby to me).
But in my view B.Gates & W.Buffet and the likes are still working because they have no choice if they want to maintain their wealth and power. Of course some people call it a passion, love or hobby (nothing wrong with it).
I call it luck of imagination...

 

Completely agree with you Tropo regarding the issue of power. The maintenance of power depends upon being the one in control. If that is what a person feels they need to keep themselves feeling good, then they will always seek to maintain that position.

 

Yes Sim,
Power does not exist without strong support (big money).
Only mega rich have power not average people.
That is why mega rich are so "passionate " about their 7 days a week work...

 

Yep.....Well said

 

Now the question of course is whether or not -T-, who originally started the thread, falls into the extremely rich category. Well -T-, do you count Warren B. and Bill G. and James P. among you best mates?

 

I think its important to do something you love.. because lets face it, hardly anyone gets the luxury of never having to work/invest the rest of there life.

In a perfect world i think its possible to turn your most favourite past time into a career. In my case it is art..

Ive loved art (not that im an artist) for a number of years, and once i got to know the market i began to buy and sell and before i knew it was able to generate a much higher income than any position i would be able to get working for someone else.

Obviously im not expecting to be doing this the rest of my life either, but for the time being i have plenty of spare time and cash to dream up and plan those other ideas and possibilities that i'd be to 'stressed' and 'tied down' to even look at if i had a full time job.

I think its important that no matter what you do, you need to enjoy it. Whether its the activity, or merely the outcome- its important you wake up everyday keen to get out of bed!

Lets face it, life is way to short to spend 50 years stressing about someone elses worries.. theres no point being rich or comfortable if you cant enjoy it. You need to find that balance, of course i could bust my guts every hour of everyday working investments and making more money, but i wouldnt have a minute to scratch myself. its all about balance!

 

Does anyone think that you can do the same thing every day and still enjoy it, no matter what it is? Or enjoy it if you're obliged to do it, whether you felt like it that day or not?

e.g. I like travelling, but I wouldn't like it if I HAD to do it because I worked for Lonely Planet or something. I like eating, too, but if I HAD to go to restaurants every day, when I'd prefer something lighter at home, I wouldn't like it.

My own objective isn't to find something that I would love to do every day (since I don't think that exists), but to have lots of things I might want to do, AND have the money and time to do it when I want to.

In my opinion you need two important things to have a happy life: things you want to do (a lot of people end up having lots of money but no idea how to enjoy life) and the money / time to do it (and we know most people never achieve this).
Alex

 

you forgot the people (partner/family/friends) at your side to share the happiness.

 

True, and I believe with more time (which I would if I didn't have to go to work) to spend with partner / family / friends my relationships would be much better.
Alex