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In case you missed it, my Sunday Washington Post column is on the interesting life lessons I have learned from people of great wealth.

I excerpted it yesterday. Rather than run yet another excerpt, I’d rather a) Point you to “7 life lessons from the very wealthy,” and 2) pull some of the quotes that I used in it.

Money won’t buy happiness, but it will pay the salaries of a large research staff to study the problem.
-Bill Vaughan

Amat victoria curam.“
(Translation:  “Victory loves careful preparation.”)

“Luck is where preparation meets opportunity.”
-Roman philosopher Seneca the Younger

“Life is what happens to you while you’re busy making other plans.”
-John Lennon, “Beautiful Boy”

If you enjoy quotes and aphorisms such as these, I suggest you follow Market Quotes on Twitter.

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Source:
7 life lessons from the very wealthy
Barry Ritholtz
Washington Post June 18 Page G6| Updated: Friday, June 17, 9:45 PM
http://www.washingtonpost.com/business/7-life-lessons-from-the-very-wealthy/2011/06/15/AGxw6aaH_story.html

PDF

Category: Philosophy

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

7 Responses to “Wisdom from the Wealthy: Sunday’s WaPo Column”

  1. patient renter says:

    I just noticed you’re picture on the WAPO article and have to ask: Barry and Glenn Greenwald – brothers from another mother?

  2. ARTAISfund says:

    I have noticed the same thing among my clients – especially post 2008. More and more people are buying less toys and spending more on “memories”.

    I recently had this same conversation with a friend who is in the process of selling his company – he is planning numerous trips (think Safari) for his kids. Didn’t mention a thing about buying new toys/cars.

  3. The Window Washer says:

    Good article, I have a similar customer base.
    I’d add:
    Appreciate those who let you enjoy your life, employees, housekeepers, doctors, contractors’ ec…

    Learn how to make your life easier by listening to the above.

    Most people with real money have a group/team that they trust to keep their life moving smoothly. They pay good wages, not great, but offer the ultimate in risk adjusted income.

  4. cthwaites says:

    Very nice…reminds me of Spike Milligan on wealth: Money can’t buy you friends but it does buy you a better class of enemy.

  5. dukes says:

    I like those thoughts Barry. I am far from rich, I am a special education teacher in SoCal. But, I find great value in what I do, plus I am a very careful planner. I feel like opportunity finds those who enjoy the work that they do and are good at it. I even started a little blog to write about issues which affect us teachers…it is cathartic for me to do. http://www.educationclearinghouse.wordpress.com

  6. mddwave says:

    It seems like a good start for a commencement address. The lessons are universal, not just for the rich.