Some posts r delayed n I missed seeing the following posts.
Quote:
Originally Posted by MoralEpitome
Actually many rich people are like that....for example I have a fren who stayed in a GCB and drives a nissan sunny and would walk 3 blocks just to save $2 parking fees........that's why rich people stay rich.....on the flip side I also have frens who will pinch on food but drives a maserati....oh well....I suppose everyone has different priorities in life and it is important to know what is important or not....remember that these prc girls are transcient and they will come and go...even our legendary LDH says that out of his many harem of women...only one stayed with him thoughout the ups and downs................
Value is always relative....some people see value in ST some people see value in BY...........................
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You're right again. I know a multi-billionaire who has used a $280 Nokia phone for the past 2 1/2 yrs. And all these PRC WLs use IPhone4?!!
But to each his own. I'm not limiting myself to BY. If the gal is my type n is available for ST, it can be great value. Even if there r 100 gals like Sugar or better out there, I still want to keep at least a couple of full-time gals for a different kind of experience.
Cheers!
Quote:
Originally Posted by justime
Part ONE:
I spoke to bro WB last week and promised to contribute my two cents when I next log in to sammyboy. So here goes:
These are some of my own personal observations:
1) I notice the change in tack with regards to the thread. This is a distinct shift toward material and financial accumulation with the pre-supposition that when one attains your financial goals, we would be a position to indulge our sensuous self.
Without going into an argumentative mode, let me just highlight to you of the fallacy in such an assumption......
Let be tell it point blank, even if you have the wealth of Croesus (modern analogy is Bill Gates I suppose), the mind set of purposeful accumulation of wealth will undoubtedly get in the way of completely immersing and indulging the pleasure of the flesh. You will find it difficult to see “value” in such hedonistic pleasures.
The illustration of Getty and Buffett’s parsimonious ways (highlighted in this thread) should give a hint of the particular mind-set......
In my personal life story, my so call mentors do not defer gratification during their wealth accumulation stage. As they are on route to “making it”, they effectively budget and stretch their dollar. Please note that the budget is not a cursory 10% (as if like a tithe) but rather a hefty (at least 30%). It’s a commitment to a hedonistic lifestyle even as they accumulate wealth. As you wealth is building up on an upward trajectory, the 30% remains, but the sheer dollarise amount can be staggering!
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Hi bro justime,
Long time no see.
Ths for ur insightful post.
I'll remember to spend at least 30% of my income on these SYTs, hehe.
Quote:
Originally Posted by justime
Part Two:
2) As for investment decisions, it good to see the in-built premise:
a) I am responsible for my own wealth (and any failures) should my financial goals be not met.
b) I Know as much as my Private Banker & Relationshjp Managers (if not more). Ultimately, no one has more invested interest to see me succeed than me myself.
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Even if all technical indicators and fundamentals are favourable, it’s the emotional capacity to act that matters. A lot of people I know want more and more confirmatory instances of a good deal that by the time they get in the game, the rate of return slows (or even reverses)...........................
3) There are several allusions to the concept of “opportunity cost” in this thread. That is, if only I don’t spend so much money on cheong, I would have a tidy pile by now. I would be in a better position to springboard more material gain and really get the super desirable babes now… I’ll be a millionaire instead of thousandaire, I’ll be a billionaire instead of a millionaire yadda yadda yadda..
Firstly, this is unproductive thinking. Let me tell you point blank that what’s past is past. You did not sow and now you lament about the prospective harvest.
Let me also put to you that even if you have sown and exerted the mental and physical stamina to concentrate on building wealth, you still might not make it. Its called deferred gratification unfulfilled. And this phenomenon is more common than you realize.
Break free the conventional thinking that reward is commensurate with effort and self denial. Not so. There are other tools that can short-cut the wealth trajectory. (Again not in the scope to this thread).
Lastly before I hurriedly pen off: remember that it is the journey itself (and not the destination) that makes for a quality life … getting wealthy should be a nice journey in itself. And in undertaking this journey, romance can be make the road all that much sweeter!
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Hi bro justime,
I truly enjoy ur excellent post!
IMHO, luck plays a role in everything...
And yes, life is a journey not a destination. Destination? It's death!
Cheers!
Bro WB