One of the things I like best about the Betting / Trading 'blogosphere' is that it sometimes throws up some fascinating debates, not all of which are directly related to the subject. There is one such debate brewing at the moment about life, wealth, work and happiness / fulfilment / pyschological well-being call it what you will. Anyway, I thought I'd put my tuppenceworth into the mix.
To set the background for those who wonder what the old fool's rambling on about now, look at Caan Berry's piece, and Steve's comment in response to it and then pop over to Green All Over to see Cassini's usual non-combative everyone's entitled to an opinion stance on the subject.
I think both Caan and Cassini are right in different ways. It is rich, if you interpret that term in a holistic sense rather than a straight financial sense, to be your own boss. If you can earn a living working a few hours a day, have no-one to answer to but your other half (if applicable) and don't see the point in working harder to earn more as you don't see the point, I think that's a fortunate position to be in. Likewise if you are so contented in your career, as seems to be the case with Cassini, that the work / life boundary fades to an indistinct line then I also think that's a fortunate position to be in.
I generally speaking really enjoy what I do to earn a crust. There are apsects that I don't enjoy, although they are few in number and none engender a 'hatred' of the task - more of a 'needs must so let's just get it over and done with' response. The truth is though, that I sell cars because I was not good enough at playing either football or golf to make a career out of what I truly enjoy (on, in the case of football, used to enjoy) doing most!
For most people reading this post and the others mentioned I suspect that work is a necessity to enable them to live. I also suspect that, given the choice / chance most would like to quit the 'rat race' and control their own destiny. It is a little too simplistic, in my view, to say that if you dislike your job that much you just need to go and find something that you do enjoy.
I also think that people of my parents' generation and my generation have had / are having a far easier time than people of my sons' generation are likely to have. I'd like that not to be the case, but suspect it will prove so.
One trader I know gave up the rat race to trade full time. As far as I know he was making a good go at it, but then got invited back into the corporate world. After a bit of internal turmoil the appeal and challenge offered by the greasy pole proved too much to pass on and back he went. He stopped blogging regularly then as well, which is a shame. He knows who he is ;-).
Another trader of my acquaintance had been full time for over four years, and again, as far as I know earnt well enough from it. He now works with people who need help in a couple of areas of life truly central to their general well being. When I asked him why he quit full time trading and whether he was enjoying his new role his response was interesting. It seems that Betfair and their attitude to their customers was the central reason for him quitting... i.e. the Premium Charge among other things. He also said that in his new role he feels completely fulfilled, something that trading full time had not achieved for him. I don't know how much he's making now, but suspect he's taken a drop in income in return for what he sees as an improvement in his quality of life.
Cassini says that one definition of richness is when one's income from investment exceeds expenses. I'll add a definition I've heard: 'true wealth has been attained when the interest on your interest exceeds expenses'. I honestly doubt that many people reading these words fall into either camp. I know I don't. But on balance I'm inclined to side with the view that wealth or richness are all relative terms, and that, 'wishy washy' or not, I'll take a good family and close circle of good friends over the mansion and the Ferrari. All day, every day!
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