Why do wealthy people want the stress of becoming even more wealthy?

Lunar_Eclipse

Jagraf wrote: »

Just wondered. Someone told me years ago that the more wealthy you become, the wealthier circles you mix in, so you don't feel so wealthy.

Does it ever end?

I have some wealthy friends and I suppose they are now mixing with wealthier friends, due to work colleagues being wealthier the higher up the ranks you go. But I don't think this has made any of them feel less wealthy. They are wealthy and know how lucky they are. It just comes naturally. :cool:

Most of them are simply incredibly driven people. It has nothing to do with money, they just want to excel at everything they do, are bright and talented and incredibly hard working. I wouldn't say any of them work for the money. The money comes from the hard work and entrepreneurial talent that they have, which is typically evidenced at a very young age. For example, one of these friends sold his first business when he was 14 or 15. And so it went on; he's sold a few more businesses now for several million each. He's an enigma in business, but a down to earth normal guy in other aspects of life. I seem to know a few of these Richard Branson types bizarrely.

pendragon_arther

I've got loads of money, loads of it, but I want more and more...

pollypenny

I've often wondered the same thing, Jagraf.

Why people like Philip Green et al take complicated measures to 'avoid' tax, which they could easily afford, in order to become even more wealthy.

How many houses, jacuzzis, planes, fast cars etc does anyone need?

PenguinOfDeath

I think it's all relative. Most people in the UK are wealthy by world standards, but aren't necessarily joyous because of it, some on here excepted

If you won £1m on the lottery, you would be a millionaire and for most they would be life changing, may be able to retire etc. But to live a millionaire lifestyle (the Aston Martins, private jet, penthouse apartment whatever) you would need many more millions to keep that up.

I know of people who when you first meet them they try to interrogate you about what you do and how much you earn. That is how they measure success. Rightfully or wrongfully it takes all sorts.

mrsHall2b

Jagraf wrote: »

Just wondered. Someone told me years ago that the more wealthy you become, the wealthier circles you mix in, so you don't feel so wealthy.

Does it ever end?

i watched a programme about the Russian oligarch's living over here and the blokey on there infact said that even though he has millions in the bank which is more than most, there are people above him who have billions making him feel poor, as there is always someone who has more money than you you are always trying to chase it to get above the person above you.

Snakey

For that question to make any sense, you'd need to tell us where you think the line is between "wealthy" and "not wealthy" and explain why you think people suddenly change into a different sort of human being - someone who doesn't think like the rest of us at all - the instant they earn the extra £1 of income to take them across that line.

If you can't do that, then the thread title should be: "Why do people want the stress of becoming more wealthy?" And I think we could all answer that pretty easily, without any need to point fingers at "them" and "us". Although I wouldn't want to speak for everybody, my answer would be broadly: because of all the extra things I could do with that extra money that would outweigh the extra stress involved in earning it.

FBaby

Just wondered. Someone told me years ago that the more wealthy you become, the wealthier circles you mix in, so you don't feel so wealthy.

I don't understand this. How do you decide whether your friends are wealthier than you? Different people have different priorities, some will choose to enjoy a luxurious life during their working life, others will chose to live a more frugal working life but invest for a wealthy lifestyle being able to retire early.

We have friends from all walk of life, and those who are enjoying the most holidays/nice cars/home etc... are not forcibly the wealthiest in terms of sustainability. I was surprised to find out that some of my friends I assumed were doing very well for themselves (self-employed) were making no provision at all towards a pension and somehow seemed to think they will be able to live off selling their house and living in smaller accommodation, only now realising that this will not allow them the same lifestyle for many years to come.

I am also doubting the correlation between wealth and happiness.

InsideInsurance

Jagraf wrote: »

Just wondered. Someone told me years ago that the more wealthy you become, the wealthier circles you mix in, so you don't feel so wealthy.

Does it ever end?

The circles you mix in will depend on your work and your personal preferences.

Just because you have a seven figure income doesnt automatically get you invited anywhere nor mean you have to start buying membership at private members clubs or buying your way into the Royal Enclosure at Ascot. There are some that will want to do this, there are others that are happy going down their local with their mates.

With few exceptions there are always places you can go where others have more money than you are going to be. If you feel the need to compare the size of your bank balance with the others there thats your choice but for others, assuming they arent stupidly over stretching themselves, they can simply enjoy the experience of it.

Personally, I am fairly well off but have friends at all points on the spectrum. I dont go and see our friends who work in Pret to feel superior and nor do I feel inferior when with I'm with another friend who recently sold his business for a eight figure sum. They're all just friends and interesting people.

Obviously all this assumes that "wealth" is only measured by money/material possessions which clearly it isnt.

Tropez

There's an element that humans, as a species, are through biology and evolution designed to try and better their lot in life. That is the driving factor behind a substantial amount of human development, as well as for a substantial amount of inhumanity.

We're not designed to always be comfortable with what we've got, even if what we've got provides a comfortable lifestyle for us. We're designed to want more because it is how our species progresses. Some people will pursue greater wealth, others will pursue causes instead to make society 'better', some will simply pursue power.

It's about having something to strive for, a way to improve on some level. We're a species that is cursed knowing that we will die, and so it is imperative that we have a purpose and a function. Even the wealthy need that purpose, because without it money is meaningless.

DKLS

One of the CEOs I worked for had a picture of a yacht on his desk, and he always said there would be someone else with a bigger yacht in the harbour, and If I ever made it, not to buy a yacht, he said I could achieve the exact same experience by standing in a cold shower trying to burn £50 notes.