Umm...food for thought !Assuming bill gates/Elon Musk plan to realise their complete fortune, will it still be anywhere equal to his assumed net worth ? What is the difference between a assed networth and the actual realisable net worth ? If that's the true net worth the why not calculate that.They'll still be agonisingly rich, but would be far from what economically is assumed.

Valuation Hoax

Welcome to Deepstash

Jevin Shah on Oct 07

<ol><li>Stop Senseless Spending</li><li>Fund Retirement Plans ASAP</li><li>Improve Tax Awareness</li><li>Own Your Home</li><li>Avoid Luxury Wheels</li><li>Don't Sell Yourself Short</li><li>Don't Rely on Luck</li></ol>

Steps:

Becoming a millionaire is not as hard as you might think—it just takes time.

Money

7 Simple Steps to $1 Million

Even though material conditions have improved during the last few decades, happiness has decreased.This can be because of two factors:<ul><li>People want money to buy more stuff. But if we've already exceeded the amount of money we need to buy happiness, why do we desire more?</li><li>A more plausible theory is that people want money because it buys them status. However, as society's wealth increases, the money to uphold a status increases, causing status to stay out of reach.</li></ul>

Why people want riches

Most wealth is acquired because people want status. You want to spend money to show everyone else that you have the power to buy. But seeking status is a low-status behaviour. It becomes distasteful if someone is seen trying to gain fame or new stuff to impress their friends. This results in many people telling themselves that they want material possessions for intrinsic reasons.

People want to buy status

A fundamental conflict is that we want status but also don't want to be seen as people who want status. <ul><li>Some people think the solution is to wipe yourself free of the need to gain status.</li><li>Another solution is to admit that people want status and do everything they can to earn fame and praise.</li><li>A third solution is to pursue status but delude yourself that you are seeking nobler reasons.</li></ul>

A fundamental conflict: Either admit we want status or forego it

A possible reason so many people pursue the delusional approach is that it is the most effective or sincere resolution to inner conflict. A solution could be to accept our need for status like other needs such as hunger or affection. We don't have to think that status will make us happy, but at least accept that seeking status is unsatisfying and repulsive in the extremes.

A possible answer to status is balance

Stashed ideas

Do People Want Riches to Buy Stuff or Status? | Scott H Young

<ul><li>CAPITAL GAINS</li><li>RENTAL PROPERTY </li><li>EARNED INCOME </li><li>ROYALTY INCOME</li><li>INTEREST INCOME </li><li>DIVIDEND INCOME </li><li>RESALE PROFITS </li></ul>

The average millionaire has 7 streams of income:

💵 One stream of income isn't enough anymore!

7 STREAMS OF WEALTH

Wealth is not just having a lot of money, its about having a supply of a lot of money. 1. Earlier is better2. Never underestimate the power of compounding3. Give yourself more time4. Generate worth with your productMultiple income streams are ideal, but you should be able to help people with your product/service.Take your talents and skills to give value to other people, as people give as much value as they can take from something.

Wealth Strategies: Lesson 1

Saving money efficiently starts with the mindset of: Save money and spend what's left.You need a system to have actual wealth growth. Consistency is key.

Wealth Strategies: Lesson 2

Turn yourself into an asset. Scare assets are worth more, so find something that you can do well and is hard to replicate.Invest in yourself, and create a place to market your ideas. Build a platform to sell something you are truely passionate in to generate cash flow from knowledge and passion you had anyway.