Current Events > Someone expain why really old rich people care so much about making more money

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When they are already rich as fuck.

I'm talking about people in their late 60s to 70s. They should be retired by now but instead they still want to find ways to abuse the economy and nickel and dime every thing they can.
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It's all.they know
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Cause 60 isnt old and they might enjoy making money and they also might want to leave money to their family.

They can establish a dynasty

And these old dying rich people, what are they going to do with all the money? Will it off to their kids?
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greed. insatiable greed.

and i think for a lot of these folks, like the Koch brothers, it's about power more than anything else.
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Exactly at what point do you have enough money?
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Veggeta X posted...

And these old dying rich people, what are they going to do with all the money? Will it off to their kids?

Yeah? Are you a complete idiot alt or something
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they have the same mentality, power and influence as the noble classes used to. they want to ensure their legacy, so of course they want to will it off to their kids. they can't let their dynasty die with them. they're extremely self-important and think people give a shit about their name
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Veggeta X posted...

When they are already rich as fuck.

I'm talking about people in their late 60s to 70s. They should be retired by now but instead they still want to find ways to abuse the economy and nickel and dime every thing they can.

How is investing or expanding a business abusing the economy?
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Fishy posted...

Exactly at what point do you have enough money?

If I had 15 million in the bank and I was like closing in on 70 years old I think I have enough money to live out the rest of my life and I will have enough to give to my kids so they can make something out of themselves.
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SK8T3R215 posted...

How is investing or expanding a business abusing the economy?

Greed my son.
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Why 15? Is 10 not enough? 5? 3 seems perfectly reasonable.
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Fishy posted...

Why 15? Is 10 not enough? 5? 3 seems perfectly reasonable.

That was just a number I threw out.
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Veggeta X posted...

Fishy posted...

Exactly at what point do you have enough money?

If I had 15 million in the bank and I was like closing in on 70 years old I think I have enough money to live out the rest of my life and I will have enough to give to my kids so they can make something out of themselves.

15 million is more than enough to last forever.

You only need about 2-3 million to last forever comfortably, providing about 100K a year forever from dividends

That's my point you can't just pick an amount and say "Yeah that's enough money I'm done now."
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Veggeta X posted...

Fishy posted...

Exactly at what point do you have enough money?

If I had 15 million in the bank and I was like closing in on 70 years old I think I have enough money to live out the rest of my life and I will have enough to give to my kids so they can make something out of themselves.

Thats not a bad idea at all. The beauty of this system is you can (mostly) do whatever you want with your money, except for what the friendly taxman takes, of course.
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You can never have enough really. You are always fighting inflation
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So Jeff Bezos makes billions off of Amazon. He doesn't need to work again. Should he just close down Amazon? "Sorry guys, made enough money. Good luck finding jobs"
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Probably because it's fun for them. Why do some people continue to max out their characters and get every last peace of gear despite already being powerful enough to stomp everything in the game? This is just a real life version of that.
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Fishy posted...

That's my point you can't just pick an amount and say "Yeah that's enough money I'm done now."

If you think you still need more money by 70 and you're already a millionaire then you got problems.
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Also its entitely irrational to just let your money sit in checking accounts not making any money at all when it can make you more money. It doesnt matter whether the individual feels they have enough money or not
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josifrees posted...

You can never have enough really. You are always fighting inflation

You're be fighting certain death at an old age.
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fights off the existential dread that their lives are inherently meaningless & that they will be forgotten and inconsequential once they die
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WrkHrdPlayHrdr posted...

So Jeff Bezos makes billions off of Amazon. He doesn't need to work again. Should he just close down Amazon? "Sorry guys, made enough money. Good luck finding jobs"

Retire, let other people get promoted and let new execs take over. Yall not serious right?
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josifrees posted...

You can never have enough really. You are always fighting inflation

Mutual funds regularly beat inflation dude.

Veggeta X posted...

Fishy posted...

That's my point you can't just pick an amount and say "Yeah that's enough money I'm done now."

If you think you still need more money by 70 and you're already a millionaire then you got problems.

If I have kids I will absolutely set aside millions of dollars for my children and their children.

My parents provided me with opportunity and I will pass it forward.

Veggeta X posted...

When they are already rich as fuck.

Do you stop an online round early when you're stomping the other team?
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And finally, a million dollars isnt shit. Especially at 70. My grandfather had enough money that he wasnt going to get any government assistance and in assisted living a million dollars would have lasted him 5 years before he would have been flat broke
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Honestly I don't truly believe these rich old people who still wants to keep making millions don't give two shits about their kids. You're well off, your kids are well off so give the chance for other people to make their millions.
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Addiction to money is sadly one addiction that is actively encouraged.
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Legacy

Once you get old enough to realize how much money matters it becomes even more important to you too.
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josifrees posted...
You can never have enough really. You are always fighting inflation

Mutual funds regularly beat inflation dude.

I didnt say they didnt. But tc is saying you shouldnt mutual fund you should bury it in your backyard
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josifrees posted...

And finally, a million dollars isnt shit. Especially at 70. My grandfather had enough money that he wasnt going to get any government assistance and in assisted living a million dollars would have lasted him 5 years before he would have been flat broke

You've got the "I can never have enough money even when I die" mentality going on. Makes a lot of sense for these old people.
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I think it's just fun for them. Keeps them young.

Veggeta X posted...

SK8T3R215 posted...

How is investing or expanding a business abusing the economy?

Greed my son.

That doesn't explain how they are abusing the economy by doing those things. If anything they're supporting the economy.
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Bloodychess posted...

Veggeta X posted...

When they are already rich as fuck.

Do you stop an online round early when you're stomping the other team?

You guys need to stop with these horrible comparison.
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Veggeta X posted...

josifrees posted...

And finally, a million dollars isnt shit. Especially at 70. My grandfather had enough money that he wasnt going to get any government assistance and in assisted living a million dollars would have lasted him 5 years before he would have been flat broke

You've got the "I can never have enough money even when I die" mentality going on. Makes a lot of sense for these old people.

More like I dont want to sit all day in a shitty diaper and be fed prison food in a Medicaid facility in my dying days mentality.

Your trolling is not only insensitive to those who have to watch impoverished family members suffer because of poverty but weak
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My question is...why is it a bad thing? Lol

Veggeta X posted...

SK8T3R215 posted...

How is investing or expanding a business abusing the economy?

Greed my son.

You seem like the greedy one though

Romulox28 posted...

fights off the existential dread that their lives are inherently meaningless & that they will be forgotten and inconsequential once they die

This is the answer.
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Tupacrulez posted...

Romulox28 posted...

fights off the existential dread that their lives are inherently meaningless & that they will be forgotten and inconsequential once they die

This is the answer.

I mean we're all fighting that

To buy government, and reduce their taxes even more

http://robertreich.org/post/165403227390

LethalAffinity posted...

Legacy

yep.
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Fishy posted...

That's my point you can't just pick an amount and say "Yeah that's enough money I'm done now."

You absolutely can unless you're obsessed over it.
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_OujiDoza_ posted...

Fishy posted...

That's my point you can't just pick an amount and say "Yeah that's enough money I'm done now."

You absolutely can unless you're obsessed over it.

Theres no reason not to keep making money though

SomeGuyPosting posted...

_OujiDoza_ posted...

Fishy posted...

That's my point you can't just pick an amount and say "Yeah that's enough money I'm done now."

You absolutely can unless you're obsessed over it.

Theres no reason not to keep making money though

That's a very odd ideal...
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well, if you don't have children or dependents, the need to continue increasing your networth peters out once your lifestyle can be fully supported while keeping up with inflation

most people do though

even i have come to feel that my enjoyment of my pets motivates me to make money so i can donate it to help canine rescue organizations
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_OujiDoza_ posted...

Fishy posted...

That's my point you can't just pick an amount and say "Yeah that's enough money I'm done now."

You absolutely can unless you're obsessed over it.

You absolutely cant unless you are irrational.

Hmmm what should I do? Bury this money in my back yard or put it somewhere useful
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_OujiDoza_ posted...

SomeGuyPosting posted...

_OujiDoza_ posted...

Fishy posted...

That's my point you can't just pick an amount and say "Yeah that's enough money I'm done now."

You absolutely can unless you're obsessed over it.

Theres no reason not to keep making money though

That's a very odd ideal...

How so

SomeGuyPosting posted...

_OujiDoza_ posted...

SomeGuyPosting posted...

_OujiDoza_ posted...

Fishy posted...

That's my point you can't just pick an amount and say "Yeah that's enough money I'm done now."

You absolutely can unless you're obsessed over it.

Theres no reason not to keep making money though

That's a very odd ideal...

How so

I guess I speak from a perspective where I could in fact hit a cap/goal I have for myself and then finally settle down and enjoy the spoils...I am not a slave to some obligation that I have to continue to make money for sake of.
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