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Can anyone explain to me why it's SO important to make a lot of money?
My parents are pretty successful hardworking individuals who now live very comfortably. For me, I personally don't have a problem with earning a middle-class wage and living a middle-class lifestyle - I honestly believe that after earning enough to meet my basic needs, I would like to spend my free time going fishing, mountain-climbing, swimming, hunting, or just relaxing somewhere instead of fighting to get a higher paycheck.
But whenever I mention this to my parents, they go nuts - looking at me like I'm insane not to want to strive for more. I've seen my dad work 18 hour days and it ain't pretty. Sure, he made boatloads more money from doing so, but there's a LOT of things he sacrificed in order to do it.
But I'm a pretty naive and idealistic kid. I'll admit it. Having been coddled all my life, I honestly don't know what the real world is like. And when it comes to important decisions, I'd say my parents are probably right 99% of the time. Which is why I'm wondering if the importance of money is just something that grows on you as you get older and mature. Am I not taking this seriously enough because I'm still immature and naive?
Or is making boatloads of money really not all that important in the grand scheme of things? Is this one of those 1% of the time when my parents are actually wrong?
Making boatloads of money is not important unless you want it to be important. My dad makes a lot of money but I see how hard he has to work. I am in college now, but after college I don't care about making a lot of money. I just want to make enough to support myself and have some extra money left over so I don't have to choose between buying something I want or buying something I need. The reason I went to college is to make the salary I desire when I graduate...more than I would make with just a high school diploma but doesn't have to be six figures. I also won't be having kids so that's a big reason why I don't need the type of salary my dad makes. Kids are so expensive...not only do you have to pay for their stuff but you also need a bigger house. I, on the other hand, will only have me to support and I won't need a big house since it will just be me living there.
Not interested in making boatloads, just enough to have some financial security, a nice house, nice car and the ability to enjoy a little.
Unfortunately that American dream, once very achievable by the middle class, is pretty much remaining just that...a dream!
There thousands and thousands that are pursuing the American dream. Many do achieve it, others maybe halfway, and other maybe not. The important thing is the struggle. The satisfaction that you tried and tried. It takes hard work to achieve it. Also, the American dream is different for every person and many do achieve it. Do you give up and simply see it as a dream? You will be right, take care.
its like this... even if you win the rat race, you are still a rat.
also
they call it the american dream, b/c you have to be asleep to believe it - carlin
making tons of money is only important if you have the vice of greed.
greed is an inordinate desire to acquire or possess more than one needs or deserves, especially with respect to material wealth.
the pursuit of happiness is *not* the same as the pursuit of wealth.
I assume I might get bad remarks considering this is in the business finance and investment forum, and will probably get bad feedback for the rats that linger here, but, to any onlookers, rats usually get angry when you take away, or even talk badly about their cheese. So take this post with a grain of salt, or a morsel of cheese.
all that money isn't worth much when the desperate walk up to you and put a bullet through your skull, or chop off your head like they used to do in europe.
its like this... even if you win the rat race, you are still a rat.
also
they call it the american dream, b/c you have to be asleep to believe it - carlin
making tons of money is only important if you have the vice of greed.
greed is an inordinate desire to acquire or possess more than one needs or deserves, especially with respect to material wealth.
the pursuit of happiness is *not* the same as the pursuit of wealth.
Well, the the greed word to me is overused a lot. The you are right, the pursuit of happiness is not the same as the pursuit of wealth. However, material things are factors in pursuing happiness. The making tons of money is not necessarily a vice of greed either. There are many people that make tons and tons of money and never foget where they come from and their fellow human beings, take care.
Well, the the greed word to me is overused a lot. The you are right, the pursuit of happiness is not the same as the pursuit of wealth. However, material things are factors in pursuing happiness. The making tons of money is not necessarily a vice of greed either. There are many people that make tons and tons of money and never foget where they come from and their fellow human beings, take care.
there is always an exception to the rule...
material things being a pursuit of happiness is a debate of aesthetics, probably best refrained to another thread.
I agree though, that modern society generally forces you to work though and make money, just the way it is... being a volunteer generally doesn't help you live.
At some point you have to work, for most people, that means a stable job at 40+ hours a week, because working just enough i.e. 10-20 hours at X wage, doesn't often happen and if you are skilled, you just start to accumulate it.
To me people that covet power and control over others via government or who covet other peoples money are just as bad as people who will do anything for money.
To me people that covet power and control over others via government or who covet other peoples money are just as bad as people who will do anything for money.
That is bull. I can guarantee you are living much better then any single one of your employees, probably significantly so. Its not because you create any more value, its simply because you are taking a cut of their value for your "risk".
If your net income is endlessly added to retained earnings, and your grubby paws dont touch it, and you are only making a wage representitive of your labor value, then you are essentially operating at 0 personal profit.
However, Im sure thats not the case. You probably add some profit to retained earnings, and then make a huge distribution (or draw on equity) to yourself multiple times a year. I havent seen a small to medium business yet that the owners didnt use it as a personal ATM.
Do you know me? I can guarantee that you are WRONG about me living better than my employees. I have employees that spend their salaries on new cars, condos, TV's, exotic vacations, health club memberships, etc. etc. etc. My employees are living a better life than I am...
I have made many posts about how frugal I am.. I drive an old car, live in a small house, rarely take vacations, and keep costs very low.... Why? Because: 1.) I re-invest $ into expanding the business/making investments 2.) I never had much money growing up and keep a safety net. 3.) I prefer the simple life and am not materialistic 4.) I am smart about my money 5.) I am working too hard to have the time to take the vacations/spend the money that some of my employees spend.
I provide a great wage/benefits to employees who ARE living the big life. I have had one employee try to steal from me so that he can pay his gambling debt. And I have "grubby paws"? You don't think that a business owner who creates/engineers product (that is a benefit to the environment/human safety), markets, finances, sells, manages his/her business successfully (working 70+ hour work weeks) provides "any more value" than an employee who is working a stress-free 40 hour work week doing simple data entry?
I suppose an alternative would be for GoCubs business to not exist at all. He wouldn't have a company, and his workers wouldn't have been forced to take that job. However there would be no product or service delivered. Maybe that's OK if everyone is equally unemployed or unproductive.
Instead some divine brilliant force (a government?) would run GoCubs company as a non-profit and all will earn the same non-exploitive wage and live happily ever after.
Until one or more of those workers becomes unsatisfied with his/her median existence and says to his non-exploitive boss "I want more. What can I do to earn more? I can do more than Joe and Susie, but I am paid the same." But the boss has nothing to offer because the worker, by working harder, would not benefit himeself since everything he needs in life has already been satisfied. Why should Joe and Susie benefit from his extra effort without also contributing more?
Very well-said.... We are not all born equally productive... It starts with the very young in the school system. I remember doing group projects in 3rd grade and being upset that I did 90% of the work while the other 4 people took the same credit. Today, many schools are mainstreaming kids of all abilities into one class. Too bad for the top kids who are forced to operate at a slower, less productive pace so that all can produce equal output. They are not reaching their potential.
I've worked in Canada and France where the social system/taxes can sap motivation from some of their best workers... What does this do to the drive/motivation levels of some of the most creative, innovative, hard-working individuals? These systems shackle the people with motivation and reward the lazy and unmotivated. Labor/innovation builds business. And businesses will continue to move operations to countries with better work ethic (e.g. France to Eastern Europe, U.S. to India, etc.), thus reducing employment/labor opportunities at home.
Actually, I propose that its run jointly and democratically and each worker has equal stake in the company they work for.
So you are assuming each worker has the equal skills/ability/education/desire to run my company? Please provide examples of how everyday executive decisions would be made "democratically."
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