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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 379.91+0.4%4:00 PM EST

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To: Cogito Ergo Sum who wrote (87727)3/6/2012 1:30:10 AM
From: Lazarus1 Recommendation  Read Replies (2) of 217687
 
Actually, the opposite is true:

[1] O death, how bitter is the remembrance of thee to a man that liveth at rest in his possessions, unto the man that hath nothing to vex him, and that hath prosperity in all things: yea, unto him that is yet able to receive meat!
[2] O death, acceptable is thy sentence unto the needy, and unto him whose strength faileth, that is now in the last age, and is vexed with all things, and to him that despaireth, and hath lost patience!
[3] Fear not the sentence of death, remember them that have been before thee, and that come after; for this is the sentence of the Lord over all flesh.

Wisdom of Sirach [chapt 41]
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The profile of the average poster on SI is that of men obsessed with augmenting their worth; and looking for the prestige they feel that comes with having money.

There is a reason that TJ is so frequently displays his gold. For him it represents safety, preservation, escape from the fearful plight of the common man.

How much is enough?


U.S. Millionaires Say $7 Million Doesn't Make You Rich, Survey Says







NEW YORK (By Helen Kearney) - A million dollars ain't what it used to be.

More than four out of ten American millionaires say they do not feel rich. Indeed many would need to have at least $7.5 million in order to feel they were truly rich, according to a Fidelity Investments survey.

Some 42 percent of the more than 1,000 millionaires surveyed by Fidelity said they did not feel wealthy. Respondents had at least $1 million in investable assets, excluding any real estate or retirement accounts.

"Every person in the survey is wealthy," said Sanjiv Mirchandani, president of National Financial, a unit of Fidelity. "But they are still worried about outliving their assets."

The average age of respondents was 56 years old with a mean of $3.5 million of investable assets. The threshold for "rich" rose with age.

"They compare themselves to their peer group ... and they are also thinking about the long period they will have in retirement and want more assets" to fund their lifestyle, said Michael Durbin, president of Fidelity Institutional Wealth Services.



Still, millionaires are slightly more optimistic now than they were in 2009, when 46 percent did not feel wealthy.

Respondents were also more optimistic about the U.S. economy. While they thought the current U.S. economy remained very weak, they think it will improve by the end of this year.

Fidelity noted the wealthiest 5 percent of Americans hold more than 55 percent of the nation's wealth.

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