If your ambition doesn’t grow with your wealth, the wealth makes you stupid by enabling you to delay decisions longer under uncertainty.
I’ve done most of my on-time risky trigger pulling when money was tight, delayed it too long when it wasn’t
Conversation
Replying to
When wealth accumulates, so do advisors around that wealth. Possibly harder to trust intuition when lots of people you pay yelling to pump the breaks?
1
2
Replying to
Don’t know how common that effect is. Most wealthy people I know limit that to some living-trust type stuff but retain control over bulk of wealth and ignore advisors. But they do need to develop appetite for making bigger moves in same time.
2
1
Show replies
Replying to
For the first time in my life I have just a few thousand in savings and I have been considering investing it in some micro loan situation for this very reason. There's a sweet spot of financial wiggle room that enables the acuity you describe; either wise can be dulling.
1
1
Show replies
Show replies
Replying to
also you can afford to make lots of dumb errors and never learn from them: youtu.be/Nl_Qyk9DSUw
1
1
Replying to
Isn’t that the whole point of wealth? Making stupidity of the current and future carriers less threatening to the payload (genome)?
1






