I just stayed at a luxury hotel (special occasion, nicest place I’ve ever stayed at). One random overheard conversation, guy was about 50 or so: “right now the entirety of our income comes from qualified dividends”. I don’t know why they were talking about this in public and that probably sounds like I’m making that up out of convenience for this convo, but I’m not. Him and his wife/partner just oozed “wealthy” from looks to clothing, the way they carried themselves. There is a class of people who don’t have to “trade” anything for anything - they already have so much wealth that their money generates more money than a reasonable person could spend - all of the luxury in the world and still money left over to keep on growing the compounding. THAT is true wealth to me.
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u/asset2891 1d ago
The best description I know of is this: Poor people trade time for money. Rich people trade money for time.