Philosophies regarding pursuit of wealth

[wally]

I am interested in hearing CUFs philosophies regarding wealth.

My opinion has always been to choose a career with your heart, and then if wealth follows, so be it. (I must add the caveat that I accept the fact that responsibilities to dependants may narrow the field for career selection, but that is another discussion).

It has always appeared to me the difference between a person with a large disposable income and a person with a small disposable income, is that the wealthier individual drives a more expensive car, owns a more expensive house, takes more expensive vacations, and leaves his career for a more expensive retirement. A wealthy person may be able to do more good with his wealth from a charity standpoint, but both can do at least “some” good.

Both the wealthy man and man with “enough”, on average, end up facing the usual difficulties of life, neither is immune from heartbreak, and overall they are not as different as their zip codes might or cultures might suggest in my opinion.

I should also add that my father had a large influence on this perspective.

What are your thoughts?

P.S.

Also, rich people can afford ipads dedicated to church use only. I cannot discount this major advantage.

[Surfah]

[YOUTUBE]twkh0YiInPM[/YOUTUBE]

[TripletDaddy]

Whatever happened to Ma$e? I thought he was cool. I assumed he and Biggie were ushering in an era of pudgie rap but nothing ever came of it.

Was there any other hop hop artist that benefited from the death of another like Puff Daddy? That guy rode that train as far as it would take him.

[wally]

Whatever happened to Ma$e? I thought he was cool. I assumed he and Biggie were ushering in an era of pudgie rap but nothing ever came of it.

Was there any other hop hop artist that benefited from the death of another like Puff Daddy? That guy rode that train as far as it would take him.

No threadjacking, Beta Dog.

[TripletDaddy]

No threadjacking, Beta Dog.

I was responding to surfah's post!

To your question, are you asking for one's philosophy on choosing a career or a pro/con comparison of high income lifestyle vs middle income lifestyle? Are you asking for opinions on the accumulation of wealth, in general? What about dynastic wealth?

I guess I'm not clear on what you are asking.

[Surfah]

Whatever happened to Ma$e? I thought he was cool. I assumed he and Biggie were ushering in an era of pudgie rap but nothing ever came of it.

Was there any other hop hop artist that benefited from the death of another like Puff Daddy? That guy rode that train as far as it would take him.

Ma$e got religion. Then tried to comeback with G-Unit while still under contract with Bad Boy. Diddy want's $2 million for his buyout. Fifty said eff that. Ma$e hasn't done much since.

[wally]

I was responding to surfah's post!

To your question, are you asking for one's philosophy on choosing a career or a pro/con comparison of high income lifestyle vs middle income lifestyle? Are you asking for opinions on the accumulation of wealth, in general? What about dynastic wealth?

I guess I'm not clear on what you are asking.

Just kiddin' this can be a rap thread if you want.

Who am I to try to influence the natural flow of CUF. It's like the mighty Mississippi river. You can't just stop it or change it.

And I am interested in any and all of the above, but for you specifically, I would like an essay on dynastic wealth and its effects on career choice and performance.

[TripletDaddy]

Ma$e got religion. Then tried to comeback with G-Unit while still under contract with Bad Boy. Diddy want's $2 million for his buyout. Fifty said eff that. Ma$e hasn't done much since.

$2M? I thought they were friends. Yikes. So much for both of them still being on top 10 years later....

I always get a kick out of that Mo Money video. The style really personifies that era of rap, but the cut to Biggie's sound clip....it basically sounds like the guy is sucking wind and can barely breathe. I wonder if he was eventually going to have a heart attack regardless of being gunned down.

[TripletDaddy]

Just kiddin' this can be a rap thread if you want.

Who am I to try to influence the natural flow of CUF. It's like the mighty Mississippi river. You can't just stop it or change it.

And I am interested in any and all of the above, but for you specifically, I would like an essay on dynastic wealth and its effects on career choice and performance.

Warren Buffet has said that he does not believe in dynastic wealth and as such, his kids will not get his cash. Now, he has also set them up pretty nicely right now, so it isn't as if they are out their eating gruel for dinner.

My career choice was not influenced by a desire to leave money behind to those that come after me. I was focused on the needs of my lifetime, including those of my future children that I did not have at the time. I am also not really motivated at work to earn for future generations. I am mostly interested in providing for the here and now in this life. After I die, my kids will be grown adults. They have a responsibility to find their own way.

I wont purposely exclude my children, a la Warren Buffet, but the ability to leave money to them isn't a motivator for me, at least not currently.

[ERCougar]

I'm with beta-dog on dynastic wealth--I wouldn't purposely exclude my kids, but I don't think you do them any favors by handing them a trust fund.

As for the rest of your question, I don't think there's an easy answer. Some people have to have a certain standard of living to think about being happy, others don't. We can get all idealistic about being happy on any income, but the fact is that a low income can add a lot of stressors that can overwhelm any sort of career satisfaction. My wife grew up in pretty poor circumstances with a dad who refused to work for anyone else (and take the higher salary that would come with it) and ran his own non-lucrative business. He may have been satisfied, but he constantly talks about how nice my job is.

My job is in my top 3 or 4 choices, but is probably the most lucrative (or at least the most stable). I valued that and it influenced my decision. Having a little extra money provides a sense of stability (a value to me), the ability to pursue some hobbies, and plenty of time with my family. There are things I hate about my job, but I figure that's why they give me a paycheck. If I could spend all my time treating thankful, sober patients who aren't lying to me, swearing at me, spitting at me, or trying to get drugs out of me, I'd work for peanuts, so I guess I do really like the core of my job. I actually like when friends or ward members call for medical advice/help--it's pretty common for me to take a suture kit to a neighbor's house to sew up their kid--because they appreciate the help, they're likely not going to sue me, and I don't have to fill out a bunch of paperwork explaining what I just did.

My point in that meandering is that every job, even your passion, has its crappy aspects, and that's why they pay you. If you're not making enough for the crappy parts, you may reach a point where the fulfilling parts just don't outweigh them. I think it's foolish to direct people either way--solely money or solely happiness--as I think it's a balance for most people, and the balancing point is different for everyone.

[wally]

I'm with beta-dog on dynastic wealth--I wouldn't purposely exclude my kids, but I don't think you do them any favors by handing them a trust fund.

As for the rest of your question, I don't think there's an easy answer. Some people have to have a certain standard of living to think about being happy, others don't. We can get all idealistic about being happy on any income, but the fact is that a low income can add a lot of stressors that can overwhelm any sort of career satisfaction. My wife grew up in pretty poor circumstances with a dad who refused to work for anyone else (and take the higher salary that would come with it) and ran his own non-lucrative business. He may have been satisfied, but he constantly talks about how nice my job is.

My job is in my top 3 or 4 choices, but is probably the most lucrative (or at least the most stable). I valued that and it influenced my decision. Having a little extra money provides a sense of stability (a value to me), the ability to pursue some hobbies, and plenty of time with my family. There are things I hate about my job, but I figure that's why they give me a paycheck. If I could spend all my time treating thankful, sober patients who aren't lying to me, swearing at me, spitting at me, or trying to get drugs out of me, I'd work for peanuts, so I guess I do really like the core of my job. I actually like when friends or ward members call for medical advice/help--it's pretty common for me to take a suture kit to a neighbor's house to sew up their kid--because they appreciate the help, they're likely not going to sue me, and I don't have to fill out a bunch of paperwork explaining what I just did.

My point in that meandering is that every job, even your passion, has its crappy aspects, and that's why they pay you. If you're not making enough for the crappy parts, you may reach a point where the fulfilling parts just don't outweigh them. I think it's foolish to direct people either way--solely money or solely happiness--as I think it's a balance for most people, and the balancing point is different for everyone.

We had a doc friend my parents would take us to on weekends for strep throat and the type of stuff you mention. You guys are one in a million.

[Paperback Writer]

As ERCougar implied, there's not a right answer. The answer will vary depending upon the person and their life's priorities. In my own cynical view, there's never a happy ending, just a bunch of "what if's" or a different set of headaches. The best I can offer is a case study and synopsis of my own dysfunctional family:

Sibling 1: Husband is in a medium-income but highly rewarding career; Wife is SAH mom.
Husband loves his job and puts in a lot of hours in the office because of it – sometimes wife is not happy about this. Have a happy marriage but do have disagreements over money. Having to replace a hot water heater can quickly turn into a crisis. Kids are well adjusted but haven’t been able to participate in some extracurricular activities because of lack of money. Family wishes they could move into a neighborhood with better schools. Parents feel bad because the oldest child had to transfer to a different college because of family finances. Husband is envious of brother (Sibling 2) who has more wealth even though he knows he hates his job because “it couldn’t really be that bad”. Wife is a good person and mother but judgmental of wife of Sibling 2 because she chose to be a SAH mom and sacrificed her career (and presumably her education since she did not graduate) while SIL has a successful career while raising a family.

Sibling 2: Husband is above average salary; wife is also above average salary.
Husband hates his job in corporate he!!. Puts a lot of hours at the office because the job and leadership demand it – sometimes wife is not happy about this. Have a happy marriage but do have disagreements over lack of time. Having to get different kids to various activities at the same time can quickly turn into a crisis. Kids are well adjusted and participate in many extracurricular activities. Live in an upper middle class (yet modest) neighborhood with excellent schools. Could afford a bigger house in a more upscale neighborhood but have stayed put. Oldest child is attending college of first choice. Husband is envious of Sibling 2 (who actually enjoys going to work every day) as that was a career choice that was not made. However, he’s more envious of Sibling 3. Wife admires SIL who is SAH mom and such a “better” mother. However she realizes she gets as much satisfaction from her career as she does from her family life.

Sibling 3: Single; above average salary but sometimes unstable since it’s freelance consulting work.
Sibling 3 loves her job. Doesn’t mind that work can be somewhat unstable because then that’s an excuse to travel the world when there’s no work. If things go poorly for too long then she just moves back in with Mom & Dad until she lands the next free-lance gig. Still note sure if marriage is for her as she has yet to meet the right guy and probably travels too much to have a long-term relationship. Intrigued by the idea of motherhood but visits and talks with both SIL quickly scare her away of the idea because of the life style change that would be required. Anyway, the husband thing would have to be settled first. Sometimes is envious of SIL #2 as the marriage and family clock has begun to tick. Might just be the happiest of the three.

So choose the Door (1-3). Door number 4 has yet to be defined….perhaps the mystery door. There is no clear winner, just different outcomes.

[wuapinmon]

[YOUTUBE]twkh0YiInPM[/YOUTUBE]

If you've never seen this, give it a listen:

[YOUTUBE]wS7-2jcs4Pw[/YOUTUBE]

[hostile]

I'm with beta-dog on dynastic wealth--I wouldn't purposely exclude my kids, but I don't think you do them any favors by handing them a trust fund.

As for the rest of your question, I don't think there's an easy answer. Some people have to have a certain standard of living to think about being happy, others don't. We can get all idealistic about being happy on any income, but the fact is that a low income can add a lot of stressors that can overwhelm any sort of career satisfaction. My wife grew up in pretty poor circumstances with a dad who refused to work for anyone else (and take the higher salary that would come with it) and ran his own non-lucrative business. He may have been satisfied, but he constantly talks about how nice my job is.

My job is in my top 3 or 4 choices, but is probably the most lucrative (or at least the most stable). I valued that and it influenced my decision. Having a little extra money provides a sense of stability (a value to me), the ability to pursue some hobbies, and plenty of time with my family. There are things I hate about my job, but I figure that's why they give me a paycheck. If I could spend all my time treating thankful, sober patients who aren't lying to me, swearing at me, spitting at me, or trying to get drugs out of me, I'd work for peanuts, so I guess I do really like the core of my job. I actually like when friends or ward members call for medical advice/help--it's pretty common for me to take a suture kit to a neighbor's house to sew up their kid--because they appreciate the help, they're likely not going to sue me, and I don't have to fill out a bunch of paperwork explaining what I just did.
My point in that meandering is that every job, even your passion, has its crappy aspects, and that's why they pay you. If you're not making enough for the crappy parts, you may reach a point where the fulfilling parts just don't outweigh them. I think it's foolish to direct people either way--solely money or solely happiness--as I think it's a balance for most people, and the balancing point is different for everyone.

Agree with everything here. I really like what I do as a whole. There are aspects of my job that are annoying/frustrating/difficult.

Just last night I repaired a laceration on my former bishop's face.

[HuskyFreeNorthwest]

Ma$e a'int the one that'll pay for your phone/Ma$e be the one that will take you home/Even though I'm not the one that gave you the stone/All you nights alone I can make you moan.

That tells me that Ma$e is able to keep a lot of his wealth because he is just sleeping with and pleasuring women, not buying them rare jewels or paying phone bills.