I have been thinking about that more and more as I age. I have never been interested in getting rich, which meant I chose my career based on what I enjoy doing. This has turned out well, in the sense that I do what I enjoy and make a comfortable living. It is the same in my audio hobby. I don't envy those people who have enough money to buy whatever equipment they want. I envy those people who have the time to build up their skill and knowledge, and derive joy in experimenting with different approaches, especially DIY. In my case, it is a trade off between my profession and my hobby, and of course my family. But with the kids grown up, there are more options. It is true that those who don't have money trade their time to make money, whereas those with the money trade their money to have more free time.
Beliefs About Time and Money
- Thread starter Ron Resnick
- Start date
We're talking about money on a forum devoted to rich people spending shedloads of money. Maybe the most appropriate thread ever on WBF.
I'm reminded of the saying
"Gentlemen never talk about money? Nonsense, gentlemen never talk about anything else". Lol.
I'm reminded of the saying
"Gentlemen never talk about money? Nonsense, gentlemen never talk about anything else". Lol.
Finding that balance between work, hobbies, and family can be a real juggling act, right? It sounds like you've found a sweet spot, though, where you're able to do what you love and still provide comfortably for your family. And now that the kids are grown, you've got even more freedom to explore those passions. As for the trade-off between time and money, it's something many of us grapple with. Personally, I've found joy in DIY projects too, despite not having all the cash to splurge on top-of-the-line gear. It's all about making the most of what you have and finding fulfillment in the process. And hey, if you're still curious about ways to boost your income or make some extra cash on the side, there are apps out there that can help without breaking the bank.
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I like what Tiesto said when asked why he basically dropped the genre that had him selling out venues like Wembley Stadium. Artistically he felt that he had fallen into a rut and just wanted to do new things musically. Asked how he could so easily forgo those millions, he simply said.....
"Money bought me comfort, not happiness."
It might be easy to say since he already has more money than he needs but still, the guy looks to me like he has his head on straight.
"Money bought me comfort, not happiness."
It might be easy to say since he already has more money than he needs but still, the guy looks to me like he has his head on straight.
Comfort is a quality of life issue. Happiness is a condition of the soul.
Yes, good point. For some freedom is paralyzing. And then there’s the perspective of Kris Kristopherson … “freedom’s just another word for nothing left to lose.” Just the opposite view.
FWIW, Ron chose to make this a thread. It was not my idea. Everyone has their own take on money. For some it’s the only true way to measure who is winning. A last generation, now dead relative with whom I had very little in common always evaluated other people based on the size of their bank account. He was dead at age 60, and his mistress and his widow fought for a couple of years over the estate. The widow had the will. The mistress had unwritten promises. The widow won.
Some of us worry about what our wives will do with our stereo should we die first. If you’re cheating on your wife, it may be the least of her worries.
another way to put it "fear of loss" verses "chance of gain". in business we talk about that and the winning mind set based on opportunity not fear.
the two voices on your shoulders. and caring for those who are important to you, maybe having an agenda for taking care of heirs. we seek balance.....hopefully not too much 'fear' but a healthy concern.
that tipping point of when to move away from chasing dollars and being able to have ultimate options......and time to get all the way into things you want to do. i'm now 10 months into retirement and no regrets.
next week, for the first time in my life, i'm going to watch the 'complete' March Madness NCAA Basketball tournament first round on TV. might sound trivial, but it's a big deal for me to know i can do it and no phone calls or guilt. i will be curious if the actual experience will be as satisfying as the idea of being able to do it without stress.
the two voices on your shoulders. and caring for those who are important to you, maybe having an agenda for taking care of heirs. we seek balance.....hopefully not too much 'fear' but a healthy concern.
that tipping point of when to move away from chasing dollars and being able to have ultimate options......and time to get all the way into things you want to do. i'm now 10 months into retirement and no regrets.
next week, for the first time in my life, i'm going to watch the 'complete' March Madness NCAA Basketball tournament first round on TV. might sound trivial, but it's a big deal for me to know i can do it and no phone calls or guilt. i will be curious if the actual experience will be as satisfying as the idea of being able to do it without stress.
Congratulations on getting to the point where you can enjoy a lengthy entertainment activity without fear of interruption.
In decision theory there are many strategies that could be followed. Minimizing the maximum foreseeable loss is one. Maximizing the maximum foreseeable gain is another. Even Aesop understood the ideas. Humans haven’t changed significantly in 3000 years.
This.
I have this mindset; you can't take it with you anyway. I'm also pretty close to the 'tipping point', and pretty excited about it!
Interesting topic! Personally, I think there's truth in both statements, but they're kinda like two sides of the same coin. Time is definitely precious, and trading it for money can sometimes feel like a bummer. But money, when used wisely, can definitely make life better for your loved ones and community. It's all about finding that balance.
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Mike, I like this post of yours. Back in 2005 I took a five week vacation from work, to take a motorcycle ride across the U.S. It was the first time in my career that I ever took more than two weeks off of work. During the five weeks, I didn't think about work at all. Not going through the work day's events nor planning for my next work day's actions. I completely forgot all of my work passwords, which I had used daily at work. I realized that my life was all about work and that is when I decided that as soon as I was able, I would retire. I've been retired for over seventeen years now and wouldn't trade any of that time for making more money at work. I chose to work on my health, enjoy life as my wife and I saw fit. I'm glad you made the choice to retire. Here's to many years of much reduced stress and the added life years that come from that and the time to enjoy life as you see fit.
wondered if anyone would ask.
the answer would be yes, but mostly that i did the 4 day period completely on my own terms. and with 48 games to follow, i did take a few breaks and did some yardwork, and a few chores for the wife (my wife understood this was a special time for me and was understanding). when i was watching i was engaged. the games are uneven in their intensity. but that is sports watching. but as an event there is simply nothing to compare. and i did not have to do anything before or after to be able to do it.
it just happened. then Monday happened.
so.....check.....it was cool. but maybe after 10 months of retirement, the freedom is a touch less special than i had anticipated. but i still don't take it for granted.
There are several rich people(with asset of 200 million $ or more) around me who had passed before 70 years old.
I would rather live 100 years than being super rich.
It is fun to try to get the nice sound with limited budget.
Thus I enjoyed column of Sam Tellig who is still active with his true name of Marc Philips.
If I am super rich, I would rather travel around the world with private jet than enjoying music at home.
Since I am a photographer, I will have more fruitful results through traveling around the world.
I would rather live 100 years than being super rich.
It is fun to try to get the nice sound with limited budget.
Thus I enjoyed column of Sam Tellig who is still active with his true name of Marc Philips.
If I am super rich, I would rather travel around the world with private jet than enjoying music at home.
Since I am a photographer, I will have more fruitful results through traveling around the world.
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Afer you pass away, very few or none will remember your audio system.
The chance is high that it will be sold cheap and scattered.
But if you take nice photos and publish book, then the chance is higher to be remembered after your death.
Audio is very wasteful hobby.
Can I be kicked out of the forum due to telling this naked truth?
The chance is high that it will be sold cheap and scattered.
But if you take nice photos and publish book, then the chance is higher to be remembered after your death.
Audio is very wasteful hobby.
Can I be kicked out of the forum due to telling this naked truth?
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