Stuff over experiences
Research has shown that money and material things can generate only so much happiness. Instead, it’s meaningful experiences that lead to a truly fulfilling life. According to Jaime Tardy, author of The Eventual Millionaire, the wealthy choose once-in-a-lifetime experiences over new gadgets. As Tardy told The Week, she knows several millionaires that have old iPhones rather than the newest model.
Now, look: No one is going to advise you against investing money in your superannuation savings. But for rich people, retirement isn’t a focus mostly because self-made billionaires don’t plan to retire, according to CNBC. A 2010 study from Barclay’s Wealth, published on CNBC, revealed that 54 per cent of millionaires want to work right through their retirement years, and 60 per cent of people with a net worth of $15 million plan to work “no matter what their age.”
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Of course, rich people don’t need to play the lottery since they’ve already struck it rich. But they are still against wasting their money on gambling. Warren Buffet has bashed the whole idea, saying it’s the government preying on its citizens. “A government shouldn’t make it easy for people to take their social security cheques and [waste them pulling] a handle,” he has said. He also put a slot machine in his home to show his children that when he gave them their allowance, they would fall into temptation and end up spending it all in one day.
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