Working in finance is both a blessing and a curse.
The good thing is that the industry pays above average wages and is not a rewarding job. Some people in finance work ridiculous hours, but no one comes home with a sore back or blisters on their hands at the end of the day.1 It is also a profession that you can practice until old age.
The disadvantages are more psychological in nature.
There is a lot of money in the world of finance. These are usually customers who have amassed large sums of money. And there will always be colleagues or industry colleagues who make more money than you.
If you’re addicted to keeping up with Jones, the financial industry can be a toxic work environment. There is an infinite flow of people with more resources than you.
I work in the world of finance, so I know a lot of people who make a lot of money (much more than me).
The problem is that many of these people talk incessantly about money because they are so insecure about it. It’s how they measure their self-esteem, which is a difficult place to be always he will be someone who will get richer than you.
Often, one of the biggest headaches for rich people is … even richer people.
Vanity Fair recently published an article about rich people in the Hamptons complaining about even richer people entering their lawn:
Along with random $ 50 spread across the beach have come the ultra-mononics, which have flooded in with many people they say they have never seen before, leaving even the rich who think the rich are ruining the Hamptons. “There’s so much money now that hurts,” said a woman who bought her home in Amagansett in 1991. “I am 1%. But I have no resemblance to these people.
“Everyone with money is here,” he said. “If I weren’t here, I wouldn’t be here. Visible consumption is gross. ”After repeatedly passing by a house belonging to“ one of these types of hedge funds ”and seeing how they planted huge trees fully grown day after day, he finally said he finally stopped to ask the dozen workers at the place on the cost. “They said they were thinking about $ 50,000 to $ 75,000 a day,” he said. “I suspect it’s closer to $ 100,000.”
Contrast wealthy Hamptons people complaining about even richer people the impact of child tax credit on certain families (via NPR):
The Internal Revenue Service began sending monthly payments of tax credits for children between $ 250 and $ 300 to approximately 35 million eligible families on July 15th. Payments will continue until December.
The U.S. Census Bureau conducted a survey before and after sending the credit. In a span of just six weeks, he showed that credit coincided with a rapid drop in food shortages and a drop in those who say they have difficulty paying weekly expenses.
Thus, the new tax credit for children already makes it easier for lower-income households to pay their bills and feed their families. This is a great victory for my book.
These two stories contrast the things that money can provide.
On the one hand, money is a necessity in life. It helps provide food, shelter, clothing and allows us to pay bills. In this way, money provides comfort, safety and security.
On the other hand, money can deform the brain. It can provide unnecessary stress, anxiety and pressure in life.
Up to a certain point, everyone needs money to survive. Money can solve many problems in life, but it can also create others when you have enough. Once you have overcome the necessities of life, it depends on the usefulness of money.
For those who use it the right way, money can provide comfort, experiences, comfort, freedom and peace of mind. If you have a positive relationship with money, it can be a wonderful tool.
For those who misuse it, money can provide anxiety, greed, jealousy, and insecurity. If you have a negative relationship with money, it can ruin your life.
Once you reach a certain threshold of wealth, it is almost impossible to avoid comparisons with those who have even more wealth than you. It is human nature.
But it’s also good to have a little perspective on money sometimes. There are many people who only need a small amount of money to change their lives greatly.
If your biggest concern is your summer vacation home, you have no real money problems. Your problem is your relationship with money.
Money itself will not solve your problems.
To read more:
If you’re still worried, you’re not rich
1Save for those who spend too much time on the TI-83.
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