Friday, March 25, 2005

Is This Sad or Funny?

PNC Advisors, a company that does its best to make sure that the fantastically wealthy stay that way, did a survey of "high net worth individuals" (link is to a pdf file), and they found, among other things, that enough is never enough.

"When asked how much they needed to feel financially secure in the future, respondents consistently cited a need to approximately double their current level of assets. Those with $10 million or more felt they needed a median of $18.1 million; those with $5 million or more needed $10.4 million, and those with with a half million to $1 million said they needed $2.4 million."

Is it sad or funny that some rich SOB is sitting there with ten million dollars, feeling about eight million dollars in the hole? That must be a sick feeling, to be that broke. I think Mission Hills needs to rewire their storm warning system so the speakers can lay some Bob Marley on them - Three Little Birds could do them all some good ("Don’t worry about a thing, ’cause every little thing gonna be all right.")

I worry about money all the time, but my problems seem much lighter now. I worry about tiny, insignificant stuff like coming up with money to get the kids what they want for Christmas, or paying my friends at Brookside Auto when the noises my car makes start sounding more dangerous than normal. Heck, if I netted another $20,000 a year, I'd feel like Rockefeller, and stop buying store brand groceries. Those poor rich bastards are a whole lot worse off than I am.

3 Comments:

Anonymous Flip said...

It's odd, isn't it? When you get rich you don't stop worrying, you just up-scale your worries accordingly :)

3/27/2005 3:05 PM  
Anonymous Anonymous said...

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9/01/2006 9:35 PM  
Anonymous TigerianWinter said...

I'm not surprised by these findings. As people get more money they want more things. The whole purpose of getting richer is to level out your lifestyle and not have to worry about money. But what happens is that as you income grows so does your spending appetite. The goal is to live below your means. If you can do that, then when you double your net worth, you can take the next year off work.

12/18/2007 9:30 AM  

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