Even Richer People

Posted August 19, 2021 by Ben Carlson

Working in finance is both a blessing and a curse.

The plus side is the industry pays above-average wages and it’s not back-breaking work. Some people in finance do 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’s also a profession you can perform well into old age.

The downsides are more psychological in nature.

There is a lot of money in the world of finance. You’re typically dealing with clients who have amassed vast sums of money. And there are always going to be peers or colleagues in the industry who make more money than you. If you’re addicted to keeping up with the Joneses, the finance industry can be a toxic working environment. There is an endless stream of people with more resources than you.

I work in the world of finance so I know plenty of people who make a lot of money (way more money than me).

The problem is many of these people talk incessantly about money because they’re so insecure about it. It’s how they measure their self-worth which is a tough place to be because there is always going to be someone getting richer than you.   Often times one of the biggest headaches for rich people is…even richer people.

Vanity Fair had an article recently about rich people in the Hamptons complaining about even richer people encroaching on their turf:

Along with random $50s strewn across the beach have come the ultra-monied themselves, who’ve flooded in in numbers many say they’ve never seen before, leaving even the rich people thinking the rich people are ruining the Hamptons. “There’s so much money now it’s nauseating,” said one woman who bought her house in Amagansett in 1991. “I’m a 1-percenter. But I bear no resemblance to these people.”

“Everyone with money is here,” she said. “If I weren’t here already, I wouldn’t come now. The conspicuous consumption is just gross.” After repeatedly passing by a house that belongs to “one of those hedge fund guys,” and watching him have enormous, fully-grown trees planted day after day, she said she finally stopped to ask the dozen or so workers on site about the cost. “They said they thought $50,000 to $75,000 a day,” she said. “I would suspect it’s closer to $100,000.”

Boo-hoo, am I right?

To continue reading, please go to the original article here:

https://awealthofcommonsense.com/2021/08/even-richer-people/