Gates: Don’t Try to Be a Billionaire, It’s Overrated

I'll bet he's right.Money is not everything, it is a means to an end. Luxury items and leisure time. Luxury items are only marginally better to what is in reach of Middle Class America. Leisure time is the real benefit of being wealthy.... Unless you enjoy what you do for a living (like me) In which case it isn't.
 
Team Obi Juan said:
How? The money already exists, it would not be printed.
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Velocity matters, and it also depends on where the money went. If everyone went out and bought different things, probably wouldn't matter too much. However if it all went into basic necessities, that surge in spending would cause inflation. It could also cause businesses to hire more people, paying them, who then go out and spend more...the extremely simplistic basis of the idea of fiscal stimulus.
 
Zarathustra[H];1037945388 said:
I'm no billionaire, but I agree with him.

Teenagers often see getting money and getting rich as the number one thing to strive for.

In real life, those with lots of money are seldomly more happy than those without. In many cases wealthy people are less happy than those without significant wealth.

There is something to be said for striving to earn enough money to be able to eat healthily, afford healthcare own a safe car, and maintain shelter over your head, but above that, all money buys is things, and the older you get, the more you realize how irrelevant things are.

If I could do it all over again, I'd choose a college major and a profession that I was really interested in, and excited about. Something I would want to do whether someone was paying me or not.

As it stands now, I am working 60 hour work weeks at a job I absolutely loathe. Sure, it pays well, and I have some financial stability, and can buy a decent car, and own a pretty nice gaming rig, but I rarely get to use these things, as I am too busy between life and work.

So where I think Bill was going is really that wealth is never the goal. if you choose your direction in life based off of what will get you the most money, chances are you'll spend a large portion of your life being pretty unhappy.
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very well said
 
Zarathustra[H];1037945388 said:
I'm no billionaire, but I agree with him.

Teenagers often see getting money and getting rich as the number one thing to strive for.

In real life, those with lots of money are seldomly more happy than those without. In many cases wealthy people are less happy than those without significant wealth.

There is something to be said for striving to earn enough money to be able to eat healthily, afford healthcare own a safe car, and maintain shelter over your head, but above that, all money buys is things, and the older you get, the more you realize how irrelevant things are.

If I could do it all over again, I'd choose a college major and a profession that I was really interested in, and excited about. Something I would want to do whether someone was paying me or not.

As it stands now, I am working 60 hour work weeks at a job I absolutely loathe. Sure, it pays well, and I have some financial stability, and can buy a decent car, and own a pretty nice gaming rig, but I rarely get to use these things, as I am too busy between life and work.

So where I think Bill was going is really that wealth is never the goal. if you choose your direction in life based off of what will get you the most money, chances are you'll spend a large portion of your life being pretty unhappy.
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I agree 100%. I was lucky enough to go private schools and a few of my friends had parents that are millionaires. One thing I realized was that money didn't bring happiness. I actually realized a few humble families that were extremely wealthy did not act or try to show off their wealth were the most happy and respected.
 
I just want enough money to be able to not have to worry about it.

I just want to be able to go to a café and enjoy it without thinking "OMG 3 dollars for this tiny cookie". I don't need yacths or giant mansions. I just don't want to have to feel bad every time a buy something I want because I know I will have to take that money from my food account and have to eat shitty food for the rest of the month.

I'm so below avarage wage that I'd feel rich just to reach avarage.But I guess if I did have that money I'd get a car and a house and I would have just as little over after the bills are paid as I have now. People aren't satisfied for long.
 
Being supremely wealthy must be isolating too, unless your friends are super wealthy too you don't know if people like you are secretly loathe you because of your wealth.
 
Tak Ne said:
He gives a lot of money to charitable causes that are fronts for corporate business interests.
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That has to be one of the single most uninformed statements I have heard to date on here. It is fairly well documented where Gates donates his money and what exactly those organizations do. Bill and Melinda believe in transparency and that is the way their personal foundation is run. If you don't believe me, just look up the Bill and Melinda Gates foundation. And just in case you are lazy, here are the 2010 financials overview for the foundation:

http://www.gatesfoundation.org/annualreport/2010/Pages/grants-paid-summary.aspx
 
I agree... just being a billionaire is overrated. Being able to do whatever you want to do, on the other hand sounds so much better.
 
Azhar said:
Yes I know that. He didn't give any to me though. I want a slice of his pie dammit. Surely he has enough to give everyone in the country a million bucks. What's $300 million to him? :p
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LOL. So glad you can't edit posts here.
 
It is only pointless when you are not trying (such as the case with Bill Gates) to accomplish something meaningful with all that money and power to advance humanity. When you don't truly believe in anything and just throw token efforts to random charity (Bill Gates) instead of at least trying to solve the core problems facing humanity, of course that money is pointless.
 
I'll tell you why Bill Gates is a fucking idiot saying that the difference between Millions and Billions is minimal. The fact that his home value is estimated US$147.5 million, So we might as well take his home away for making such a fucking moronic statement. Hope the IRS fucks him good this year for saying he don't care about his money.
 
he has a point.. once you have enough money to buy anything/everything you want, a billion more dollars isn't going to do anything new for you.
 
PsychoAMD said:
only a retarded rich person would say something as stupid as that. Hey kids money don't buy happiness I only have 15 Lamborghini and Ferrari's and really there's nothing else for me to buy now so this money is over rated, mean while everyone else is struggling to pay utility bills and put food on the table. Some people just don't know... Bill gates was never raised in a poor family. He has always been in an upper class family so how can you actually expect him to know the feeling of needing? Sure he may donate to charity but when you never experienced something for your self you just can't know what it's like.

If he thinks his billions are so overrated, he should make a reality show where he gets a part time job at Walmart and has to live off the income for an entire year so he can understand poverty, and only then I would challenge him to make such a stupid statement that having billions is overrated. :mad:
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Did you actually read the article and his quote? Basically he's saying they're isn't really any difference between being a multimillionaire and a billionaire. Not being poor is good or any such nonsense.
 
Also property taxes were reported to be US $1.063 million , apparently he needs to pay someone to think for him before he makes stupid statements.
 
PsychoAMD said:
I'll tell you why Bill Gates is a fucking idiot saying that the difference between Millions and Billions is minimal. The fact that his home value is estimated US$147.5 million, So we might as well take his home away for making such a fucking moronic statement. Hope the IRS fucks him good this year for saying he don't care about his money.
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Did someone put pepper spray in your cream of wheat?
 
dagas said:
I just want enough money to be able to not have to worry about it.
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I think this is a sentiment many share.

The problem is, this number winds up being a lot higher than many people think.

Unfortunately the human race is somewhat irresponsible. There are people out there earning $500k, owning Porches boats and nice houses who are still concerned about the next paycheck and if they are going to be able to make the next mortgage.

People tend to be silly and spend right up to the their limit.

In other words, unless you are one of the unrealistically responsible people who prefer saving until you have a few grand in your checking before upgrading that video card, chances are the "not having to worry about money" level is going to be very very high, and arrive after you have bought everything you could possibly want and more.

It is possible to not have to worry where the next paycheck comes from on a low income, it's just not very fun, and very few choose to do it.
 
I don't make much money, only about 50k. I have a bunch saved up, no debt. It's not difficult to live within your means.
 
Zarathustra[H];1037946188 said:
In other words, unless you are one of the unrealistically responsible people who prefer saving until you have a few grand in your checking before upgrading that video card, chances are the "not having to worry about money" level is going to be very very high, and arrive after you have bought everything you could possibly want and more.

.
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I actually just saved a few grand so I can upgrade my systems. :confused:

I guess being poor (I mean, cutting down everything and still not having enough to survive on with a son and a pregnant wife), you tend to look at finances a little differently. Dave Ramsey and the "envelope system" saved my finances..:cool:
 
I guess I'm one of those "unreasonably responsible" people. I absolutely hate being in debt and very much prefer paying in cash whenever possible. Even owing a few dollars is something I hate. That said, I have some plans should I ever become a multi-billionaire. My two primary goals would be to invest into space-centric technologies (transportation, research, development, and such) and the second would be to start a university which would focus on languages and technologies (computers and aerospace specifically) and to start a scholarship program for students who want to focus on both languages and those technologies. I guess the point though is that once you have so much money (and in turn resources) at your disposal that you tend to start focusing on a much broader picture in regards to the future and less about your own personal future as you're all but set by that point.
 
matteos said:
I don't make much money, only about 50k. I have a bunch saved up, no debt. It's not difficult to live within your means.
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In 2006 before the financial meltdown, the median male of working age in america made $45,113.

Household median income was $50,233.

Today, it has - of course - gone down some considering how many unemployed and underemployed people there are.

If you plug your 50k in to the Wall Street Journals "What Percent are You" calculator, you find out that a household income of $50k is in the 56th percentile in the us. So if that is your household income, and not your individual income, you earn more than 56% of American households.

Doesn't sound so little to me :p It's above average (median).
 
jahsoul said:
I actually just saved a few grand so I can upgrade my systems. :confused:

I guess being poor (I mean, cutting down everything and still not having enough to survive on with a son and a pregnant wife), you tend to look at finances a little differently. Dave Ramsey and the "envelope system" saved my finances..:cool:
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I guess what I meant is, you always have a few thousand in your checking account, not you have it there until you are ready to upgrade and then spend it.
 
PsychoAMD said:
only a retarded rich person would say something as stupid as that. Hey kids money don't buy happiness I only have 15 Lamborghini and Ferrari's and really there's nothing else for me to buy now so this money is over rated, mean while everyone else is struggling to pay utility bills and put food on the table. Some people just don't know... Bill gates was never raised in a poor family. He has always been in an upper class family so how can you actually expect him to know the feeling of needing? Sure he may donate to charity but when you never experienced something for your self you just can't know what it's like.

If he thinks his billions are so overrated, he should make a reality show where he gets a part time job at Walmart and has to live off the income for an entire year so he can understand poverty, and only then I would challenge him to make such a stupid statement that having billions is overrated. :mad:
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PsychoAMD said:
I'll tell you why Bill Gates is a fucking idiot saying that the difference between Millions and Billions is minimal. The fact that his home value is estimated US$147.5 million, So we might as well take his home away for making such a fucking moronic statement. Hope the IRS fucks him good this year for saying he don't care about his money.
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PsychoAMD said:
Also property taxes were reported to be US $1.063 million , apparently he needs to pay someone to think for him before he makes stupid statements.
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-1 for not reading the full article.
-1 for failed reading comprehension on the quote that was posted.
-1 for calling a man that is probaly 100x smarter than you'll ever be a "stupid idiot".

Did you just join [H] to troll? Or are you really that close-minded.
 
Zarathustra[H];1037946344 said:
In 2006 before the financial meltdown, the median male of working age in america made $45,113.

Household median income was $50,233.

Today, it has - of course - gone down some considering how many unemployed and underemployed people there are.

If you plug your 50k in to the Wall Street Journals "What Percent are You" calculator, you find out that a household income of $50k is in the 56th percentile in the us. So if that is your household income, and not your individual income, you earn more than 56% of American households.

Doesn't sound so little to me :p It's above average (median).
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Wow, worldwide I am in the 1%.

Take that OWS
 
Zarathustra[H];1037945388 said:
I'm no billionaire, but I agree with him.
...
In real life, those with lots of money are seldomly more happy than those without. In many cases wealthy people are less happy than those without significant wealth.

There is something to be said for striving to earn enough money to be able to eat healthily, afford healthcare own a safe car, and maintain shelter over your head, but above that, all money buys is things, and the older you get, the more you realize how irrelevant things are.
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FWIW, various surveys have shown that money DOES by happiness...to a certain level.

Kind of what you note - once you have the ability to 'stop worrying about it'...IE., you have enough to not care (I honestly can't remember the last time I looked at a grocery store or restaurant receipt...or even bothered to hear the number, just hand them the credit card, done, and move on...), you have basically hit the peak happiness money can provide on its own.

As I recall, last time the number was kicked around it was about $75k salary per working individual as the peak for the dollars-per-survey-happiness ratio.

Having passed that some time ago, I can look back and definitely say 'yup, that was about the peak - I've got more stuff, now, and nicer...but I rarely get a chance to enjoy it as I'm working so hard for it'. At about $75k, I'd say, was the right balance spot where you aren't working so hard to GET stuff that you can't enjoy it.
 
Zarathustra[H];1037946352 said:
I guess what I meant is, you always have a few thousand in your checking account, not you have it there until you are ready to upgrade and then spend it.
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OK..gotcha. And I do.. :D

I'm telling you man, Dave Ramsey is a genius..
 
Grimham said:
-1 for not reading the full article.
-1 for failed reading comprehension on the quote that was posted.
-1 for calling a man that is probaly 100x smarter than you'll ever be a "stupid idiot".

Did you just join [H] to troll? Or are you really that close-minded.
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He's a Psycho. Look at his forum handle.
 
Lol, if you were a billionaire and your life sucked who/what then would you have to blame? You remember the epic britney meltdown. Not that she was that rich, but she did have some 400k coming in monthly.
 
jiminator said:
Lol, if you were a billionaire and your life sucked who/what then would you have to blame? You remember the epic britney meltdown. Not that she was that rich, but she did have some 400k coming in monthly.
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I think that part of it has to do with having a purpose.

Throughout our lives we are told we have to perform well, or we won't be able to support ourselves financially, sometimes as early as 1st grade. I can still hear my mother warning me that if I didn't do well I'd be cleaning toilets for a living.

This - for many of us - continues through college. Students want that good GPA so they can graduate and get a good job that pays well.

It then continues at work with performance reviews. getting a better review can lead to a raise or a promotion and more money.

Well, what happens when you finally get so much money that you no longer really have to worry about your financial well being?

I'm sure for a short while its great. Party, travel, buy fancy cars and houses etc, but after a while I think most people want to fill that purpose bubble with something else. Some people figure out how to do this through charity, volunteering etc. Some people take on a business challenge as a CEO for ~$1 a year in salary.

Some - however - don't find what gives them purpose easily. They can't get over the fact that their drive was always towards material gain. These I think are the ones who find themselves extraordinarily depressed once they have made it, cause they have lost that purpose.

These - I believe - are the ones you see come undone on national television in some sort of drunken, drug induced stupor to a media frenzy.
 
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