Thursday, April 3, 2008

The Haves & Have-Nots Have the Same Problem!

Tracey Young, a 53-year-old mother of two who helps manage family funds through a UBS AG account, got a different assessment. The $3 million in short-term securities she held had been marked down by $170,000. "I am in a panic," she says.
WSJ - The Auction-Rate Lockout

People can be categorized in two broad categories. One group is aspiring to get to this dream state called – financial independence. The other has already achieved this dream state.

The aspiring group is stressed and consumed with this desire to accomplish this goal. They save, live frugally, work hard, struggle, worry about paying for college and retirement and wish for the day when money will be a non-issue.

The other group stresses about maintaining their financial freedom. They are worried about market returns, investment, consumption, inflation and depletion of their wealth. Going back to a 9-5 job and living within a budget is a scary prospect for this group.

So when do you stop worrying and start enjoying life? Is that an attitude, a way of life or an illusion? Or maybe life is no fun without some worry!


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1 comment:

Jack said...

Interesting perspective. Although I would add a third category - the group that gives it away. Some do it to create a legacy, some to become famous and some just want to do some good.