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#21
06-13-2007, 03:42 AM
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Re: What is your motivation to make more money?
[ QUOTE ]
Personally I'd like at least a $2M house and probably another $1M in general savings/investments for holidays, kids, general security. Once I reached that, I'm done. [/ QUOTE ] With planning like that I am sure you will be rich in no time. As to your original question. I just want it to buy crap that entertains me. I have no intention of ever retiring. Aside from investments set aside for family I also hope to time my death and die broke. 
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#22
06-13-2007, 03:47 AM
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Re: What is your motivation to make more money?
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[ QUOTE ] Ill be pretty dissapointed if I dont have 10 million when Im 30. [/ QUOTE ] Without knowing anything about your financial situation, you are probably going to be pretty dissapointed when you are 30. [/ QUOTE ] Pretty sure hes an early 20 something trust fund baby worth 7 figures already. So he maybe wont be.
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#23
06-13-2007, 03:50 AM
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Re: What is your motivation to make more money?
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[ QUOTE ] Also, if someone offered me USD 10 billion right now with the stipulation of a lifetime ban from any sort of activity involving poker / business / finance / capital markets, I would reject it. Anyone else as crazy as me? [/ QUOTE ] Hell no. [/ QUOTE ]  put me in the hell no camp. does't mean i can't read & study finance...just means i can't be in the industry work wise (and i get all that money to manage myself...if that is not allowed i'd still take the US10bil and do a whole lot of travel, reading & good w/ it)
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#24
06-13-2007, 09:22 AM
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Re: What is your motivation to make more money?
Running out of money.
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#25
06-13-2007, 12:29 PM
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Re: What is your motivation to make more money?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Also, if someone offered me USD 10 billion right now with the stipulation of a lifetime ban from any sort of activity involving poker / business / finance / capital markets, I would reject it. Anyone else as crazy as me? [/ QUOTE ] Hell no. [/ QUOTE ] put me in the hell no camp. does't mean i can't read & study finance...just means i can't be in the industry work wise (and i get all that money to manage myself...if that is not allowed i'd still take the US10bil and do a whole lot of travel, reading & good w/ it) [/ QUOTE ] Barron, Do you really need something as big as 10bil though? You don't think you can use your reading / studying / mental abilities to eventually make enough $$$ to do the same travelling & helping people while having tons of fun making the money yourself?
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#26
06-13-2007, 01:18 PM
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Re: What is your motivation to make more money?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] Also, if someone offered me USD 10 billion right now with the stipulation of a lifetime ban from any sort of activity involving poker / business / finance / capital markets, I would reject it. Anyone else as crazy as me? [/ QUOTE ] Hell no. [/ QUOTE ] put me in the hell no camp. does't mean i can't read & study finance...just means i can't be in the industry work wise (and i get all that money to manage myself...if that is not allowed i'd still take the US10bil and do a whole lot of travel, reading & good w/ it) [/ QUOTE ] Barron, Do you really need something as big as 10bil though? You don't think you can use your reading / studying / mental abilities to eventually make enough $$$ to do the same travelling & helping people while having tons of fun making the money yourself? [/ QUOTE ] but there is a cost to uncertainty. having the money now nullifies that cost and allows me absolute freedom to study what i want when i want. like right now for instance. i have a reading list that i want to get through. but i'm so enjoying the black swan that it is taking me some huge amt of time to read. one major reason is that i branch off and explore anybody that Taleb recommends. so now i have 2 large texts downloaded from the internet archive by henri poincare (science & hypothesis, & mathematics & science: last essays). if i had freedom of time w/o pressing job considerations & my own learning syllabus on the horizon, i'd break to read the poincare books. then i'd meander back and forth from taleb to poincare until black swan is finished & then go back and finish the other books. but since i must first make tha mani (i.e. secure a job), i cannot explore the more superfluous readings & instead plan to stick to my curriculum. further, with $10bil, i could wake up to a symphony every morning and have them play pleasurable reading music for me [img]/images/graemlins/smile.gif[/img] Barron
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#28
06-14-2007, 10:11 AM
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Re: What is your motivation to make more money?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Ill be pretty dissapointed if I dont have 10 million when Im 30. [/ QUOTE ] Without knowing anything about your financial situation, you are probably going to be pretty dissapointed when you are 30. [/ QUOTE ] Pretty sure hes an early 20 something trust fund baby worth 7 figures already. So he maybe wont be. [/ QUOTE ] Where did this image of me come from? I earned every dollar from my name grinding it out on pp back in the day and investing it. I never took a hand out along the way.
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#29
06-14-2007, 03:53 PM
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Re: What is your motivation to make more money?
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I want to make enough money so my money makes me money ... I also had the by-30 millionaire dream ... I'm 28 now and I'm not out of the debt hole ... I still work for the same company, and I really like my job ... I make a good amount of money and some day the stock options will become liquid ... at that point the money will be less than I thought it would be when I was dreaming at 21, but it will still be enough to take me to the next level of making money If you're about to turn 23, I would work very hard at laying out a foundation / roadmap to reach your goals at 30 ... otherwise you'll always be dreaming ... it's very important that you realize now what it's going to take to get to your goal at 30 ... you may think it's getting so good at poker that you're beating 25/50 on up for a decent clip ... you may think it's founding the next web 2.0 company and selling it 18 months later ... whatever it is, it's your dream ... just make sure you know what it's going to take to capitalize should you be on the horizon of reaching your dream Also, take it from me that it's ok if goals / dreams change ... if you're still playing poker at 25 and nowhere near halfway to your goal, re-evaluate ... you haven't failed ... life isn't over if you haven't "made it" at 30 ... truth is you should always be educating yourself so you can take advantage of opportunities that come along during your quest ... some day you might find yourself with 10x your goal and it could have come from something completely unrelated to your original plan ... Health is important ... education is important ... sanity is important ... fun is important ... friends & family is important ... lots and lots of dreams & goals is important ... It's hard to achieve them all, but it's quite an accomplishment to achieve some of them [/ QUOTE ] Fantastic. All of it is great. A key takehome message here, is that things change. Trust me, the things you want now, chances are will not be the things you want at 30, as I guarantee your circumstances in your life will change, so your dreams and goals will change. But whether they come true or don't it doesn't really matter. It's who you become as a result of working towards those goals which is important. It's very similar to the poker philosophy of being process oriented and not results oriented. Bill Gates, Warren Buffet, and most of the richest people on the planet do not work for the money. They do what they do because they love it, it is their passion, it challenges them. THE HUN.
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#30
06-14-2007, 04:24 PM
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Re: What is your motivation to make more money?
[ QUOTE ]
[ QUOTE ] I want to make enough money so my money makes me money ... I also had the by-30 millionaire dream ... I'm 28 now and I'm not out of the debt hole ... I still work for the same company, and I really like my job ... I make a good amount of money and some day the stock options will become liquid ... at that point the money will be less than I thought it would be when I was dreaming at 21, but it will still be enough to take me to the next level of making money If you're about to turn 23, I would work very hard at laying out a foundation / roadmap to reach your goals at 30 ... otherwise you'll always be dreaming ... it's very important that you realize now what it's going to take to get to your goal at 30 ... you may think it's getting so good at poker that you're beating 25/50 on up for a decent clip ... you may think it's founding the next web 2.0 company and selling it 18 months later ... whatever it is, it's your dream ... just make sure you know what it's going to take to capitalize should you be on the horizon of reaching your dream Also, take it from me that it's ok if goals / dreams change ... if you're still playing poker at 25 and nowhere near halfway to your goal, re-evaluate ... you haven't failed ... life isn't over if you haven't "made it" at 30 ... truth is you should always be educating yourself so you can take advantage of opportunities that come along during your quest ... some day you might find yourself with 10x your goal and it could have come from something completely unrelated to your original plan ... Health is important ... education is important ... sanity is important ... fun is important ... friends & family is important ... lots and lots of dreams & goals is important ... It's hard to achieve them all, but it's quite an accomplishment to achieve some of them [/ QUOTE ] Fantastic. All of it is great. A key takehome message here, is that things change. Trust me, the things you want now, chances are will not be the things you want at 30, as I guarantee your circumstances in your life will change, so your dreams and goals will change. But whether they come true or don't it doesn't really matter. It's who you become as a result of working towards those goals which is important. It's very similar to the poker philosophy of being process oriented and not results oriented. Bill Gates, Warren Buffet, and most of the richest people on the planet do not work for the money. They do what they do because they love it, it is their passion, it challenges them. THE HUN. [/ QUOTE ] If you cite Warren Buffett, you must realize that his goals / desires stayed essentially the same for his entire life, and definitely didn't radically change when he became 30. He does exactly the same stuff at 75 as he did when he was 20, regardless of the gigantic discrepancy between his net worth and general wisdom at those points.
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