Comments on: Why Do You Want To Be Rich?

By: Chase

Chase — Tue, 02 Feb 2010 01:16:07 +0000

I want to be rich for the freedom it allows, not necessarily for the “I can buy anything” thoughts that go with increased wealth.

That’s why I enjoy blogging so much – it allow me to work when I feel fit and bring in a little bit of dough at the same time.

Now if I could just get it up to a full time income…

By: credit score

credit score — Fri, 29 Jan 2010 13:11:23 +0000

I want to be rich not in money but in happiness, love, and other things money can’t buy.

By: Joel

Joel — Wed, 27 Jan 2010 23:16:55 +0000

@Janet: I admire your dedication to your causes. Very cool that you look outside yourself like that.

@Samurai: I like this quote a lot: “Money buys the freedom to not have to worry about money.” That’s what I was trying to get to with the Dorothy Parker quote. Basically, having money means you don’t have to sweat the small things as much. That doesn’t mean you should spend at will, but maybe you can ease up a little on the penny-pinching.

@ j>: Sounds like you’ve got your priorities set (and a decent cushion in your bank account, too)! Not a bad combination.

@ Andrea: Good luck reaching that goal.

By: Andrea

Andrea — Wed, 27 Jan 2010 15:48:51 +0000

Enough to stay home with my children and live the basically good life (not the GOOD LIFE but my good life) until they are older…and retire before I am 85. I don’t need much more to be happy.

By: j >

j > — Wed, 27 Jan 2010 06:33:22 +0000

i hesitated to comment on this. mostly because i know what i’m about to say will most certainly be judged & i’ll likely be labeled as being fed by a “silver spoon”. and admittedly–to a certain extent–i have been.

you see, i DO NOT want to be rich. sure, financial security is desirable. a padded bank account would be nice. a comfortable house with heat & running water & maybe an alarm system to protect our kids would be a luxury.

but that is just it: a LUXURY.

you see, i grew up “rich”. my grandparents had sail boats & lived in an old farm house, complete with swimming pool & tennis court. my dad is a physician & took our family on trips all over the country on his conferences. we’ve been on mission trips with church & seen what REAL poverty is–& REAL wealth is (in attitude) firsthand. i traveled to Europe twice before age 15. i went to a crazy-expensive college. our wedding of 450 guests is still being talked about 3 years later (much to my dismay). and now we (husband & i) are embarking on our OWN financial journey. we’ve got inheritance. and mutual funds from our parents. and we are SO SO LUCKY. we know it, too. and we are working on generosity–giving away what we want & finding satisfaction in what we have.

but what we also know is that wealth & travels & swimming pools & household alarm systems do NOT mean happiness. i’ve been there. i had it all–except a personal plane (which i have no desire for)–& i quickly realized that it didn’t make me ANY happier. the joy that exists in my family was probably cushioned by the fact that we have been incredibly blessed both financially & relationally. but in my own life, being “RICH” isn’t on a list of goals.

great article.

By: marci

marci — Tue, 26 Jan 2010 23:40:12 +0000

8.5 % tax bracket – no debt (including mortgage) – and happy as a pig in mud, as you say

Secret: Gratitude not attitude…. and no need for the fancy stuff… I worked too hard for my $$ to just blow it on gadgets or junk. I have all that I need, and all that I want. Simple as that

Contentment is great! I have ‘enough’….

By: Financial Samurai

Financial Samurai — Tue, 26 Jan 2010 22:25:16 +0000

Hey Joel, thanks for sharing your article, and the shout out! Thanks to Investor Junkie for guest posting.

The reason why I want more money is simple so I don’t have to worry about money and want more money.

Money buys the freedom to not have to worry about money.

If we’re wealthy all the time, believe you me, it feels like we aren’t wealthy at all. It takes minimalism, to really appreciate wealth often times!

By: janet

janet — Tue, 26 Jan 2010 20:06:40 +0000

when I am wealthy I will be able to make a difference, on a large scale, to the causes I am passionate about. Of course, it will be nice to know I have no financial worries but everyday I see situations that could be made better if not just for some $$. I want to be able to provide for that. One of the reasons “wealth ” has a bad rap is that people often act as resevoirs of money, not conduits. That being said, I love Capitalism, the Free Market and being a business owner. When someone works hard for their money, makes good decisions and has good timing; Wealth is the result

By: Nicole

Nicole — Tue, 26 Jan 2010 16:26:40 +0000

I don’t want a giant house (who needs to clean that or heat/cool it!), I don’t want a high end car. I want enough that my daughter can go to college and I can stop working in a job I don’t like and I can travel and see the world. I don’t even need to stay in penthouse suites (I want love the little small hotels anyway), just to travel and see everywhere!

I’d happily have a little 2 bedroom condo as a homebase here in my suburban town to come home and plan my next trip.

By: Joel

Joel — Tue, 26 Jan 2010 16:21:44 +0000

I didn’t mean to imply that I wanted to be rich so I could buy stuff. I was thinking that I’d like to have a little more money so my life was a little more comfortable — but then that leads to a slippery slope.

@Sid: Good point about wealth being relative. I think that’s a lesson we could all stand to remember.

@Erica: Yes, I’m going to have to bite the bullet and throw down some money. I think it might cost a little more than you’ve listed, though…

@CarA: There have been a lot of discussions about people following their dreams and figuring the money will follow. I think that’s a great sentiment, but it might be a little naive (at least in today’s economy).

@Jenn: Good for you! I admire that lifestyle.

@Writer’s Coin: I guess that’s how the uber-rich got to that point, right? You’d think they’d be able to disengage that need and just live a “normal” life, but maybe not.