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It's So Hard Being a Multi-Millionaire

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It’s So Hard Being a Multi-Millionaire

Hal Steger, 51, has more than $2 million in the bank. He has a $1.3 million house that is paid for on the Pacific coast and he and his wife have a net worth of roughly $3.5 million, which, by the way, puts them in the top 2 percent of families in America.

Yet he is still working 12 hours a day and 10 hours over the weekend for 'the company'looking for the big strike ! How detached from reality are these people ?

With $2 million in the bank I would estimate they are getting around 5% interest p.a., which equates to $100,000 a year for doing sweet F.A. as we say over here ! Yet the poor guy feels he isn’t rich enough because the other guys standing next to him in the urinals can swing $10 million in his face ! That must be really devastating for him. I suggest he give his money away and try living on $200 a week.

What’s the point of making money if all you’re going to do is fret and give yourself ulcers because you’re only getting $100,000 a year from the bank for doing nothing.

"A few million doesn't go as far as it used to." Mr. Stegel says. Oh dear how dreadful. Hey Hal give it to me I’ll show you how far I can go with a few million !

Apparently he is not the only multi-millionaire to have such feelings of inadequacy. No wonder shrinks make such good money !

Silicon Valley is full of people just like him. Here’s an idea – move out of Silicon Valley ! Retire ! Get a life !

The reason is that CEOs make tens of millions of dollars a year, a hedge-fund manager gets $1 billion, so a few million dollars is just plain embarrassing !

Gary Kremen has an estimated net worth of $10 million, which puts him in the top 0.5% of Americans, but he works 60- to 80-hours a week because he thinks he doesn’t have enough money. Message to Gary, you’ve got enough ! Put it in the bank and live off the interest ! How do these people get to make so much money in the first place, you’d think a certain amount of intelligence would be required, but apparently not. No doubt it’s all about ‘networking’, smiling at the right people and generally sticking your nose where it's most wanted.

"You're nobody here at $10 million," Kremen says. Dear oh dear is that what it’s all about ? Being somebody ? And I thought it was all about being able to pay the rent and having enough to eat Shows how much I know !

But it doesn't stop with multi-millionaires. Billionaires too have the same feelings. They all feel that what they really need is double what they have got now, no matter how much that is - see my other incisive post about the super-rich and their super-money How Much Is a Ticket to Richistan ?

Perhaps they should start up a multi-millionaires' hardship fund. I'm sure if we all sent them just a few dollars each, and tell them how much we love them and how we'll never let them starve, we might inflate their bank balances and their egos enough to make them feel just a little bit more secure. Now how good would that feel ?

Comments and suggestions are always welcome!






2 comments:

  1. That's a shame that someone can't be satisfied with a "measly" $100,000 a year. There's a fine line between being ambitious and greedy. Steger is definitely walking the line.

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  2. Hi Barry,

    Yes, I think they lose contact with reality. They are in the top 2% of the US population yet seem to constantly worry about not having enough money. It's a very strange mindset. Totally detached from the realities of life that most other people have to deal with like how to pay the telephone bill or the gas bill or how to get out of debt ! They should give their money away if it's causing them so much angst (and I don' mean give it away to their shrinks).

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