What is the point of being lucky in life, of being in the right place at the right time, or of inheriting a fortune if you can’t enjoy the money, share it, and have a good time with it?
A notable skinflint was Paul Getty, the oil magnate, who, long before cellphones appeared had a public, coin-operated payphone installed in his house for visitors, to prevent them charging calls to his telephone account (this is true because some friends used it). With his income he could have bought two phone companies outright.
These people amass huge fortunes, useless to them when they die. The kids frequently blow it all on slow horses and fast women, bless them. It’s about the only bit of so-called “trickle down economics” that actually works. Trouble is, the people who could most benefit from the trickle seldom get it.
I have known comfortably off people who who nickeled and dimed everything, made scrupulous monthly accounts, bickering with their wives over a dollar or two. Forget it! We should be have fun, enjoy ourselves, thirst for life, experiencing as much as possible. Above all, laugh – it’s better for you than any pharmaceutical. As Epicurus said, live while you are alive!
If I had that much money, I would hardly work- its not worth the stress and boredom. I would work part time for most of the year, but spend a lot of time travelling. Sounds a lot more fun than luxury products and friends who are only there because you’re rich. Being wealthy would not stop me from going to university, or doing a masters afterwards. And I would still live in a middle class neighbourhood, as living in an upper class neighbourhood would probably result in the loss of my middle class friends, who would feel inferior to me.
But more importantly, no one needs that kind of money, which is why the government should tax it more. After earning more than about £400 000, wage increases hardly lead to productivity. Better the government use the money for much-needed infrastructure projects as well as investments in science and technology.
I entirely agree, except that I would put the cut- off point in salary lower, 250,000, which is an extremely comfortable income and gives you more than you ever really need.
Unfortunately, travel isn’t what it used to be – too many people doing it, horrible airport security, aircraft seats designed for dwarfs (correction: people of modest stature), crowded beaches; and they even have a Harrods in Doha. But there are still wonderful places. nonetheless: The Moorings in Islamorada, Florida ; the desert resort near Dubai, in the Empty Quarter with sand dunes as far as the eye can see; the Okavanga Delta game reserve in Botswana……….. best shut up, before I get carried away!
For the reasons you mentioned I have an aversion to flying but inter city rail travel in Europe is improving, its a lot faster now, and there are big discounts for both retirees and students. If you avoid the over touristy areas, there are still a lot of wonderful places to visit, which seems much more worthwhile than amassing a fortune at home.
Getty’s is a kind of pathology. There are people who never can have enough power, never enough money, never enough adulation, never, ever “enough.”
Makes me wonder–who was under the same roof with Getty as he was growing up? what did the adults around him indicate what was worth doing with his life? what did they talk about at the dinner table?
Trouble is, I don’t want to invest my time in finding out the answers but the grown-up Getty must have been the result of warped childhood training.