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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Mike Johnston who wrote (51786)1/27/2006 5:04:14 PM
From: GraceZ  Read Replies (2) of 110194
 
My perspective comes from being married to a regular working guy and being a regular working stiff myself. It also comes from working with and for other people who make fairly regular average incomes. I manage money for others, so I'm privy to how others have managed to accumulate assets from modest incomes.

I have a lot of friends like you who are miserable seeing that someone else makes a lot more money than they do, they think that these people don't deserve it and at the same time are trying to figure out how they can get in on that stream. I find envy to be a pretty ugly sentiment, especially when it is about money. I learned early on that more money doesn't necessarily make people happier, in fact it frequently makes them miserable. Look how miserable you are.

I could care less about a bunch of people making piles of money gambling with assets because I know it has a negative expected return. These people simply trade off money with each other, they don't add nor do they subtract, it's a wash.

Meanwhile people like myself and my husband get up everyday and add value to the economy.

I have a friend who made around 700k as a Nasdaq market maker. It was hard to be too envious because I could see what the pressure did to her health, besides nobody lasts in that biz for very long. Aside from that, her income was paid as a percentage of what she made for the firm, so it wasn't like she didn't make it. She knew that it couldn't last, so she always lived like she made 60k and put most of it away, at least the amount the IRS left her. Now she has a normal income and she's actually a lot happier.
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