Some people hoard money like their going to live forever. Some people spend it like they’re going to die tomorrow. Seek the balance.
- BGT
Some people hoard money like their going to live forever. Some people spend it like they’re going to die tomorrow. Seek the balance.
An accomplished winemaker and hunter said that, when he was born, a drop of red wine was put in his mouth and his nose was tickled with a partridge feather. Scientifically, it’s hard to see any correlation. And yet, if one is “tickled” by (old) money early on, one will be more susceptible to handle it properly.
Thank you for sharing, JL. Yes, exposure early to the rules and traditions is key. – BGT
It’s difficult to spend money when you look at every expenditure through the lenses of NPV, ROI and compounding appreciation if the money is invested. Also, the best things in life are free or very inexpensive.
Very true, Maurice. The price vs. the value. Thanks. – BGT
Byron – what are you thoughts on leaving a trust fund for your grandchildren? I don’t want to create entitled trust fund babies. On the other hand, my life would have played out different if somebody had given me $100K when I was 25.
Hi Maurice, Thanks for the question. I’m going to respond to this in a blog post in order to address the issue thoroughly. – BGT