Fin-ology

Episode 11: Wealth vs Income. Can you ever have too much money?

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Recorded 2014-09-22

Show Notes

http://arstechnica.com/gadgets/2014/09/tivo-announces-tivo-mega-a-rackmount-dvr-with-six-tuners-and-24-tb/

Define Rich

  • Costly vs Expensive
  • “The Millionaire Next Door” by Thomas Stanley

    • Net Worth vs Income

    • Building wealth by buying true assets that create a return on your investment
    • First step is to save so that investments can then be made
    • Negative connotation of “Rich”. Are we taxing the “fake wealthy”?
    • Why do people put the humble rich on a pedestal?

      • Expensive vs Costly

      • Utility of a product should determine the value.
      • Does the opinion of what is expensive and what is costly ever go away? or Does a rare utility command a higher price? i.e. gold Apple Watch
      • Giffen Goods, if you have to ask you can’t afford it

        • Are certain people better at being wealthy?

        •  Philanthropy, Bill and Melinda Gates, Michael Bloomberg
        • Duck Tales, https://www.youtube.com/watch?v=9DXo5haNd9M
          • Specifically 0:19-0:22
            • Earning money and building wealth “skills” up to a point of true wealth

              • What is your “I Quit” wealth level?

              • Kyre impersonates Jimmy Stewart, https://www.youtube.com/watch?v=_Er69b4HMl8
              • Todd references Duck Tales….for the second time

                • Post Show

                • 1950 Hipsters
                • FSU vs Clemson
                  • Show Title Ideas

                  Wealth vs Income. Can you ever have too much money?

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                  Fin-ologyBy The Atapha Group