TRUE WEALTH

By Karl Arnold Belser
18 April 2014



My philosophy about investing is summarized in my Investment Rules that I wrote in 2011.  I guess it is my German heritage to work hard, spend little and save a lot. My objective has been to free myself from wage slavery by knowing when enough is enough.

I constantly consider articles that I have read for more insight into what is important about life. I read Five Good Questions for William J. Bernstein of 'Economic Frontier' on the ThinkAdvisor website that adds to my overall view about what is important in life and investing. Here is a short quote that I think is insightful.


wealth is not a dollar amount, but rather a ratio measured in years: in other words, how many years’ living expenses you’ve saved.  The person with a million dollars who needs to spend only $50,000 annually is twice as rich as the person who needs $100,000.

If you think that your happiness is tied up in the things you own, then you are both sadly misinformed about human neuropsychology and doomed to be unhappy. Bottom line: keep your expenses down, save like hell, don’t stop until you’re pushing up the daisies, and look for “utility” in the things that really matter: connections with other people, competence in a vocation or avocation, and most importantly, acquiring autonomy over your time and effort, i.e., becoming your own boss.

i think that true wealth occurs when one is a freely contributing member of society.

   
Last updated April 18, 2014
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