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Inherited wealth is a real handicap to happiness

Yeah I can see it. It also does not give you any sense of accomplishment, and since you already have all that money you have no reason to try to accomplish something yourself to get more money. Though that is also why a lot of people who get rich quick via inheritance, lotto etc often tend to blow it all, they almost see it as a limitless supply because it's such a large amount.
 
Inherited wealth is a real handicap to happiness
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I'm just so glad I didn't inherit wealth with which to spend on my transition and SRS. I just know the sense of accomplishment I'll feel when I get there under my own steam whoring myself out for cash is just going to make the final outcome so much sweeter.
 
It depends on what a person does with inherited wealth. Sure if the person just wastes it and does nothing, then he will be unhappy. But if he used it to do things that had always want to do but couldn't, then that person will feel fulfilled.
 
whm1974 said:
It depends on what a person does with inherited wealth. Sure if the person just wastes it and does nothing, then he will be unhappy. But if he used it to do things that had always want to do but couldn't, then that person will feel fulfilled.
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I will go through my blackbook and make eveyone in there pay!
 
lxskllr said:
If doing stupid shit every day for a pay check is what makes you happy, you've got real psychological issues. More money = more opportunity to do interesting things.
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Many years ago a book fell into my lap (given me at a temp job, a book publisher) entitled "The Velvet Monkey Wrench." The cover was inviting and imaginative and I poked inside. I remember one particular declaration concerning the idea that having money, substantial money ... requires the wisdom to spend it wisely. Otherwise, of course, things do not go so well.

It is often said that it is better to make your own money than inherit it. Of course, it's true, largely. However, in large degree people inherit money not by virtue of any shortcoming but due to happenstance. It's possible to not blow it. A lot of people are in no position to do that and it burns a hole in their pocket.
 
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FU, I was recently cheated out of a nice sized (for me) inheritance and I am a hell of a lot less happy because of it.
 
Muse said:
I remember one particular declaration concerning the idea that having money, substantial money ... requires the wisdom to spend it wisely.
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I think there is a lot of truth to that. Sudden influxes of money, whether its from inheritance, sudden pro-sports contract or company buyout, reduces the perceived value of things. Material things are already subjected to Hedonistic Adaptation so the removal or moving of the value goalposts probably decreases your happiness at having those possessions and increases the desire to get more\replace those things that you thought you wanted so badly. Finally able to get that 65" TV you've been wanting for a while? Why should you be happy with that since they just released a 75" version that you 'now have money' to go out and buy? Keeping perspective and balancing needs and wants with a 30-50 year timeline for your balance sheet is probably not something many are prepared for.

Often there is an added time requirement to managing large sums of money and it can be substantial depending on the route you go or the situation you're handed. There can be an unforgiving learning curve when it comes to the law and taxes that many likely have not had to deal with before. Having a $2M inheritance isn't so fun when its mired in Probate or the Real Estate property located in another state is the subject of several frivolous lawsuits. Or writing a $50k tax check because the investments weren't handled in the most tax advantageous way. (Which is probably going to hurt a lot since they've not had time to adjust to a world where writing a $50k check isn't going to break them) Many see wealth as a way to remove financial headaches so the reality that it usually brings more headaches is a sobering experience and can quickly crush the happiness about the sudden influx - especially if you see large chunks suddenly flying away from your new bank account.

Certainly none of these are to the scale of 'trouble putting food' on the table or worries if you'll ever be retired which I think leads to another happiness issue: isolation. We're generally pretty social animals who like to share and talk about things but it can be hard to do that when others can't relate. "I bought stuff but it doesn't make me happy" can be tough to talk about when all everyone else sees is you driving the car they always wanted, buying all the high end tech gear they want but can't afford etc. You can say that true friends wouldn't care but you may not have known your friends have this ugly side till it shows up.
 
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The problem with inherited wealth is one of perspective. Without direction and intent, money either is frittered away or, accumulates. Money itself does nothing. You see it in 99.99% of corporations. Accomplishing goals becomes secondary indeed, the only goal becomes continuation. People and the group think of corporations are similar. You see it all the time in celebrities and sports stars who suddenly acquire large amounts of money with little awareness. They tend to live with the same perspective on life just surrounded by more expensive toys or, give it away to be someone else's problem. No imagination.
 
Sonikku said:
I'm just so glad I didn't inherit wealth with which to spend on my transition and SRS. I just know the sense of accomplishment I'll feel when I get there under my own steam whoring myself out for cash is just going to make the final outcome so much sweeter.
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Finally thats the go getter spirit you need. If you weren't so far I'd help you earn a little cash for your goals.

I know I wouldn't be happy just being handed a large some of money. I don't need huge fancy houses or sports cars. I've made enough money of my own to be happy. Now building my business on my own makes me happy. See ya fuckers I'm slacking off, I gotta go get it scored a big job last week.
 
thebestMAX said:
FU, I was recently cheated out of a nice sized (for me) inheritance and I am a hell of a lot less happy because of it.
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I'm trying to remember. A famous historical person of legendary integrity refused an inheritance. The lesson is that it's best to deal with the situation philosophically and not resent it.
 
Exterous said:
I think there is a lot of truth to that. Sudden influxes of money, whether its from inheritance, sudden pro-sports contract or company buyout, reduces the perceived value of things.
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I'm still reading this excellent post (and will read it all) but want to post a couple of apt quotations (I collect them... in my mind and in data, too!):

He who is not contented with what he has, would not be contented with what he would like to have. - Socrates

"It's so hard to find one rich man in ten with a satisfied mind." -- "A Satisfied Mind," a song written by Joe "Red" Hayes and Jack Rhodes.
 
I inherited a tiller from my grandfather shortly after I moved into my house. Well, technically my father inherited it but he had no need so he gave it to me. I used it in the spring to prepare the garden for a couple of years, then had to put a couple hundred bucks into repairing it. That's the only thing aside from photos and such that I've ever inherited and it cost me two hundred damn dollars. So yeah it was a handicap to my standard of living.
 
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