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Wealth and compassion

What does "rich" mean even mean (*)?

Given that a lot of the population are selfish ****s, chances are they're relatively better off than others so, yep, in that context, rich people are mean.

I'm relatively well off, probably below the average wealth on PFM for sure (;)). A lot of poorer people are selfish w*nkers IMHO.

(*) If we mean millionaires / billionaires, then they're not the ones in a BMW / MB.
 
Seeker_UK said:
What does "rich" mean even mean (*)?

(*) If we mean millionaires / billionaires, then they're not the ones in a BMW / MB.
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This is very true. Pretty much anyone with a salary can drive a new one of these marques every 2 or 3 years. When I think about the folks I know, their net worth tends to be inversely proportional to the value of the car they drive.
 
russel said:
Psychopaths are very good at shmoozing, at least the bright ones are.
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Interesting to read a few biographies of very "successful" people, they often have some psychopathic tendencies.

Others are simply in the right place at right time as any of us could have been.
 
take people as i find 'em here, good, bad, indifferent all over every class (if such a thing still exists)
 
Ponty said:
This is very true. Pretty much anyone with a salary can drive a new one of these marques every 2 or 3 years. When I think about the folks I know, their net worth tends to be inversely proportional to the value of the car they drive.
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I guess folk have different approaches as to how they spend their money. With interest rates where they are, I search for canny fixed-lease deals for nicer cars than I cannot justify buying outright. My eyes were opened to this a few years ago; I had a creaky old Subaru Legacy (which was lovely to drive) which cost me the same £/month as it's replacement shiny new Merc C-Class on lease. I put the capital saved into a share ISA scheme. Currently, I have an Audi A6 45 quattro that will cost me the same on total lease payments (over three years) in terms of depreciation that the cheapest Ford Mondeo would have. I could have afforded to buy the Mondeo new (with usual discounts) but the Audi would have been a real stretch. Additionally, I now put the capital into investments which are nicely helping me also offset the cost of that lease.
 
MikeMA said:
Have we met somewhere? Clearly I didn't make a good first impression.
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I wasn't entirely trolling when I said that.

As I get older I meet more older people -- over the past few years I've met lots of people in their 70s, 80s and at least one very close to 90, maybe he was 90 this year, due to a course I teach.

Of course some are nice, and I'm sure you'd be one of them if you were on my course. But on the whole I'm horrified by what a bunch of cynical, disillusioned, embittered, arrogant gits they are.

I said that my impression is anecdotal but maybe not entirely. Many years ago, in the early 1990s, I had an assignment for a UK building society which had just demutualised and wished to invest their capital funds into new market development. They were particularly interested in markets serving the elderly, because it was a wealthy growing sector, and my job was to advise them about opportunities.

What we found, I vaguely remember, was that there was a good deal of empirical research which suggested that, say mid to late 70s on, people do indeed become more and more selfish and self centred.
 
Seeker_UK said:
billionaires, they're not the ones in a BMW / MB
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That can generate many anecdotes.
My friend is a receptionist for a wealth management firm. The owner of the firm is a billionaire and drives a twenty year old Toyota.
Conversely I know a few that drive a Merc more for effect, when they have very few pennies to rub together.

Then there is the guy with the mansion and the Roller who goes around in an anachronistic looking purple beige 40 year old Hush Puppies. They are his most comfortable shoes, he says!
 
This has been my casual observation cycling. The fancier the car the less room they give when passing, and they are less likely to stop at a bike crossing. Also, cars from larger cities are equally inconsiderate. Here that would be California, Washington (Seattle), and "1A" (Boise). Boise driver are almost as inconsiderate Bay Area drivers, which surprises me, but I rarely visit Boise. Drivers in pickup trucks are by far the most considerate, which I also find surprising, since in many rural areas, they are the least considerate.

Having said that, I know a lot of well-off people who are very nice, very considerate, and great neighbors.
 
Some of the smiliest, most friendly people I've ever met turned out to be sociopaths.
 
'I have been very poor the greater part of my life, and have borne it as well, I believe, as most people, but I can safely say that I have been happier every guinea I have gained'. Sydney Smith, after inheriting a large sum of money.

IMO people who are mean when poor will be mean when rich, and people who have been generous when poor will continue to be generous when rich.
 
Seeker_UK said:
I'm relatively well off, probably below the average wealth on PFM for sure (;)).
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I find it hard to gauge what that 'average wealth' might be. I'm guessing that those who post regularly on the 'stock market' thread have more disposable income than me, or maybe they're just less risk-averse.
 
I believe that all human beings default to selfishness and self protection - particularly beyond their own inner circle of family and friends.

This selfishness manifests in different ways depending on lots of factors including socioeconomic class and age.

Being altruistic takes energy; a lot of people have given up expending that energy by a certain age as they become cynical through experience.

It’s a nihilistic view, but I believe it is true.

Personality disorders such as narcissism and psychopathy are a whole different discussion - therein true, proactive evil deeds can be found.
 
Howard G said:
I believe that all human beings default to selfishness and self protection - particularly beyond their own inner circle of family and friends.

This selfishness manifests in different ways depending on lots of factors including socioeconomic class and age.

Being altruistic takes energy; a lot of people have given up expending that energy by a certain age as they become cynical through experience.
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I dunno. I remember when my father used to do the football pools, and my mother would fantasise about what to do with the winnings (which never actually materialised). Her plans mostly involved giving it away to deserving causes. Indeed, after my father died, we had to persuade her to reduce the amount she gave to various charities, as she was at risk of impoverishing herself.
 
Joe Hutch said:
I dunno. I remember when my father used to do the football pools, and my mother would fantasise about what to do with the winnings (which never actually materialised). Her plans mostly involved giving it away to deserving causes. Indeed, after my father died, we had to persuade her to reduce the amount she gave to various charities, as she was at risk of impoverishing herself.
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If only there were more like her!
 
My dearly departed grandma always used to say ‘if you’ve got your health, you’re a millionaire’

How right she was, as the rest is irrelevant without this!

I know a few millionaires (cash rich) one is an elderly couple (my landlords) they are lovely, really genuine and nice people, but believe it or not they still moan about not ‘winning’ much money on the Premium bonds or the price of cheese in Waitrose! The other is an old boss, who’s an absolute tool, treats people like sh*t and has know idea how fortunate he is! Actually, he probably does and just doesn’t give sh*t making him even more of a tool!

One thing they all say though, is that money brings out the worst in people and all (without exception) of the richest people I know have fallen out with many (likely to be most) of their family and friends. There’s a good reason why money is referred to as the ‘route of all evil!’

From a personal perspective, I’ve never had much money and am currently middle aged, unemployed (thanks to COVID), struggling to get re-employed and am more skint than I’ve ever been in my life. Perhaps, despite all this, I’m still a lot richer than I realise...
 
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Howard G said:
I believe that all human beings default to selfishness and self protection - particularly beyond their own inner circle of family and friends.

This selfishness manifests in different ways depending on lots of factors including socioeconomic class and age.

Being altruistic takes energy; a lot of people have given up expending that energy by a certain age as they become cynical through experience.

It’s a nihilistic view, but I believe it is true.

Personality disorders such as narcissism and psychopathy are a whole different discussion - therein true, proactive evil deeds can be found.
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Sounds like projection to me. If anything, I've become more altruistic as I've gotten older. I certainly give more money to charidee, even though I earn a lot less than I used to do.
 
I can't see a connection between wealth and compassion, other than both are in a minority.
 
droodzilla said:
Sounds like projection to me. If anything, I've become more altruistic as I've gotten older. I certainly give more money to charidee, even though I earn a lot less than I used to do.
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I don’t think it is a projection, but it’s inherently hard to have total insight into that.

I’ve also become more “altruistic” as I’ve got older, but I’d also suggest that most acts classed by those committing them as altruistic are actually fundamentally self serving.
 
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