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Ask Slashdot: What Would You Do If You Were Suddenly Wealthy?
An anonymous reader writes: There are a few articles floating around today about comments from Markus Persson, aka "Notch," the creator of Minecraft. He sold his game studio to Microsoft last year for $2.5 billion, but he seems to be having a hard time adjusting to his newfound fame and wealth. He wrote, "The problem with getting everything is you run out of reasons to keep trying, and human interaction becomes impossible due to imbalance. ... Found a great girl, but she's afraid of me and my life style and went with a normal person instead. I would Musk and try to save the world, but that just exposes me to the same type of a$#@%&*s that made me sell minecraft again." While he later suggests he was just having a bad day, he does seem to be dealing with some isolation issues. Granted, it can be hard to feel sorry for a billionaire, but I've wondered at times how I'd handle sudden wealth like that, and I long ago decided it would make the human relationships I'm accustomed to rather difficult. So, how would you deal with Notch's problem? It seems like one the tech industry should at least be aware of, given the focus on startup culture.
How about volunteering time and money and spend some time helping people in need instead of whining, blaming, and name calling?
Step 1: Stop reading Slashdot
The world is made by those who show up for the job.
Becoming wealthy (whatever "wealthy" is considered these days) comes with its own challenges.
People with no money have very specific challenges: find food and water and shelter for your family. Everything else is secondary.
People that have a job and shelter but not enough money have different challenges: Buying a car, paying for school, You have enough for basic necessities but not enough for aspiration items.
People with lots of money have unique challenges: Who do you trust? Taxes become problematic. Gold diggers. How do you raise kids without spoiling them?
It seems to me that the sweet spot is around 100K per year. You're not rich but you have enough. In many cities that is enough to buy a nice home and a new car every 4-5 years. It's a nice place to be.
Buy land and start a small hobby farm (very small). Animals and crops require constant attention, you can't ignore them for even a day. Keeps you busy, keeps you grounded, even if you do still get most of your food from a grocery store. He's got enough to bring internet access out from nearby town or city, so he can stay up to date and work for fun instead of a living, until he figures out what he'd rather do instead.
Stop "solving" all your problems with money and pick up a few that require attention and care instead of cash. You can buy the animals, buildings, and tools, but YOU still have to use them or you fail and things die.
The first thing I need to do is hire an accountant so I know how much I actually have. If I do anything else first, I have a feeling a significant portion of the fortune would be gone before I have any kind of understanding of what my tax burden is, and I'd fuck myself right back to poverty.
Next thing I do (after buying a house, of course) is start studying accountancy, because if I've learned anything from reading the news the past several years, it's that NOBODY can be trusted with that many zeroes.
After that, I've got friends who need help, and who deserve it much more than I do. I want to see them happy. Then I can start worrying about businesses and philanthropy and shit like that.
I'd have to go Musk and start building my Bond villain infrastructure.
Fleet of cars who's 'owners' don't know are autonomous-check.
Fleet of rocket ships-check.
Doomsday device-check
The question is: Where is Musk's secret lair?
John McAfee 'It was like that time I hired that Bangkok prostitute; to do my taxes, while I fucked my accountant'
Peter Gibbons: What would you do if you had a million dollars?
Lawrence: I'll tell you what I'd do, man: two chicks at the same time, man.
Peter Gibbons: That's it? If you had a million dollars, you'd do two chicks at the same time?
Lawrence: Damn straight. I always wanted to do that, man. And I think if I were a millionaire I could hook that up, too; 'cause chicks dig dudes with money.
Peter Gibbons: Well, not all chicks.
Lawrence: Well, the type of chicks that'd double up on a dude like me do.
Peter Gibbons: Good point.
Lawrence: Well, what about you now? What would you do?
Peter Gibbons: Besides two chicks at the same time?
Lawrence: Well, yeah.
Peter Gibbons: Nothing.
Lawrence: Nothing, huh?
Peter Gibbons: I would relax... I would sit on my ass all day... I would do nothing.
Lawrence: Well, you don't need a million dollars to do nothing, man. Take a look at my cousin: he's broke, don't do shit.
When I was in college, there was a guy who was really wealthy (no idea how much, not billions, but millions I'm sure) --- his parents died young, I think it was an accident of sorts, and he inherited a fortune, or got a settlement.
Anyway... people used him for free beer, parties, food, anything they could get from him. I knew him tangentially because he was a pen and paper gamer, and ran some D&D sessions so we had some common friends.
The poor guy seemed miserable, knowing most people were only hanging out with him for his money, etc. Seriously, he was just a sad sack, seemed depressed and lonely in that existential kind of way. I know people say 'aw.... poor little rich boy', but I really felt bad for the guy. He seemed like a decent enough person, but the money didn't seem to make his life really that much better. Sure he didn't have student loans like I did, didn't have to work like I did -- but I had some good friends, who certainly didn't hang out with me for money (or lack thereof)
'The unexamined life is not worth living' - Socrates
Buy every industry in said town. Give loans to desperate people that you know they can't pay back. Buy up all the politicians and the realestate. Become sheriff because that is where the real local power is. Make subtle changes to the town and architecture giving everything a creepy southern gothic kind of feel. Slowly tighten your grip year after year. Ah, it would be heaven.
I agree. He bought a bunch of shit and found out that it doesn't bring happiness.
Personally, I'd own less 'stuff' than I do now, and live out of a suitcase. With 1.5 billion dollars, I'd travel the world and probably never stop. Buy an unassuming-looking car in Europe or the UK and drive all over, meeting new and interesting people and exploring new places. Hike the West Highland Trail in Scotland; ski the Alps in Switzerland; explore the catacombs of France, rent a speedboat and putter around on Lake Como in Italy, etc.
That, to me, is being rich - it means being free to go anywhere and do anything. I don't need a lavish life of luxury; I just want to be free of the shackles that keep me from seeing the world.
Realize that your life is yours to live. You choose your lifestyle, not the other way around.
I've been my own boss for a while and I've grown a successful company. I'm a millionaire many dozens of times over. I drive an old Volvo wagon I bought used for $2500. I live in a 1500 square foot house. I buy clothes at Kohls. Only a very small handful of people know what I'm worth, and they are sworn to secrecy.
I chose to life the lifestyle of a regular Joe. Here's a step-by-step guide to coming into a lot of money quickly:
1) SHUT THE FUCK UP. Keep it secret to the best of your ability. If you can't, come up with a plan for that. But, do the best you can.
2) Decide NOW what kind of lifestyle you want to live. Think 5 years down the road about the company you will want to keep. Birds of a feather flock together. White people hang out with white people. Rich people hang out with rich people. It sucks, but you have to decide now.
3) Put the principal away, and pay yourself what it takes to live the lifestyle you decided to live in Step 2.
4) Finally, and most important, change NOTHING right away (except, paying off debt is perfectly okay). Stay at your job. Don't run away. Don't take a vacation. Don't throw a party for all of your close friends unless you want to find out how many of them actually aren't your close friends. Just maintain the status quo and make decisions SLOWLY.
That is the best advice I can give, from one rich guy to another.
A successful celebrity was once asked if money buys happiness.
Her reply was, "I'd rather be rich and miserable than poor and miserable."
Table-ized A.I.
I would buy /. and make sure questions like these would be relegated to reddit & digg.
Knowledge = Power
P= W/t
t=Money
Money = Work/Knowledge so the less you know the more you make
nevermind. I'm wrong.
Hey slashdot. Can we edit/delete our posts please? FFS, this site is almost 20 years old and you still don't have this capability?
Until one dies of an overdose, one disappears into some kind of cult, half of the rest spend it all and blame you when you won't give them more because now they're entitled. It sounds like a good plan, but it can go bad pretty easily, too.
The Quirkz Handbook of Self-Improvement for People Who Are Already Pretty Okay
Actually, this would be a perfect idea. There used to be a guy in Maryland known as the "Route 29 Batman" who would dress up in a (really nice) Batman costume, and would go to hospitals to visit sick children and entertain them.
And sadly, he was killed in a car accident just a few weeks ago, so there's certainly an opening for it:
http://www.washingtonpost.com/...
Hindsight is 20/20, but I've always thought that were I to come upon a windfall of some large(ish) caliber, I'd likely not tell a soul, and not change my lifestyle significantly and suddenly. Sure it's tempting to run out and buy a Ferrari, but if one thinks about it, those are childish wishes and whims - a lack of self-control, if you will. The first things I'd do is settle all my debts (house, car, etc.), which aren't as visible to others. I'd also start winding down my employment (i.e. 1-month or even 2-month notice).
By simply slowing the transition down significantly, perhaps even "embellishing" the nature of the windfall (i.e. "I just closed a deal that's going to do very well for me over the next 2 years") such that the changes are logical and incremental vs. sudden and drastic, one can avoid such "acclimation pains" in one's social circle.
In the end, if you change your life drastically there's a very good chance you'll run into the same isolation issues - windfall or no. So it's about the (perceived) speed of the climb, not the steepness.
Besides, if you make the change slow it's easier for people to see that you're not changing - just your lifestyle and economic conditions. Less scary that way I think.
PS/ what's he bitching and whining about women for? he can afford any (set of) pornstar(s) he wants now!! :D
Down to a certain point, I've also learned that "less is more" when it comes to material possessions. The posessions can start to own you instead of the reverse.
Hey slashdot. Can we edit/delete our posts please? FFS, this site is almost 20 years old and you still don't have this capability?
That is because it is the way Slashdot was designed. It is intentional, as if you could go back and edit your posts, you can change their tone afterwards.
APK likes to ask for responses to the same things over and over. Maybe he just likes the responses?
You are correct that a million will net about $60k. That's in a diversified portfolio of long-term investments, a fairly reliable income. Actually $600K per ten years is reliable - year to years gains will fluctuate and that's okay - your spending doesn't have to fluctuate to match each year.
What will ALSO net $60K spending money is earning 100K, saving 12% for retirement, spending 15% on your mortgage, etc. Once you retire, you're no longer saving up for retirement. If you pay off your house before you retire, you're no longer paying mortgage. You're probably not saving for your kids' college anymore. Therefore a $1 million retirement fund will provide approximately the same lifestyle as a $100K / year job.
This assumes you're under 55 currently, so you don't count on any social security at all. *
* You know based on how people are 55 today that 20 years there will be more 75 year-olds than there is money to pay benefits.
"Whoever said money can't buy happiness simply didn't know where to go shopping."
-- Bo Derek
Shutting down free speech with violence isn't fighting fascism. It IS fascism!
"I would Musk and try to save the world, but that just exposes me to the same type of a$#@%&*s that made me sell minecraft again."
You don't have to try to be Musk. If you don't feel the need to get into that or be that sort of creative, at least you can recognize the people who do/are. Call him. You don't need to buy public shares when you have that kind of money. You invest in other people who are trying to change the world.
Keep some for yourself and enjoy your life while knowing that your money is helping to change the world. Don't like what Musk is doing? He's just an example. Fine something you believe in and invest.
I would blow it on something I found ridiculously cool. Like hardened, high-speed em-drive interstellar probes or something. But to each his own.
I am not interested in articles about life extension advancements.
Oh thank god. I couldn't handle another linguistic bombshell like "for all intensive purposes" actually being "intents and purposes"! That rocked my world when I was eleven, and I don't think I ever recovered.
Freedom to fear. Freedom from thought. Freedom to kill.
I guess the War on Terror really is about freedom!
Anyone who thinks money can't buy happiness has never bought a week's groceries for a poor person.
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