When money becomes pointless


I've recently read a short story about one of the founders of New York stock exchange. I am paraphrasing it but it goes something in these lines:

The old gentleman, in the years when twentieth anniversary of his retirement was to be celebrated, was asked to give an advice for the people that looked up to him. Of course he was incredibly rich. He also became a big critic of a stock market and the western way of dealing with money as he grew older, although he helped it establish.

He said: "Do not save money, that's the most foolish thing you can do. Whatever money you earn, give instantly half to your children, they will love you for that. Spend the other half traveling and enjoying life. Money is of no worth when you are old and then you realize that it's the time that matters."

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  1. Jun 4th, 2009 8:54 AM

    Money is not everything but money is also play an important role in your life. What i thinking is, don't let money to control your life, you have to control it.

  2. May 24th, 2009 7:24 PM

    I'd rather you write about some online marketing ideas... A friend of mine is trying to sell hand drawn avatars online and needs some online marketing help. Any advice?

  3. Aug 27th, 2008 1:14 PM

    I thought this was great for: "Whatever money you earn, give instantly half to your children, they will love you for that."

  4. Aug 27th, 2008 7:24 AM

    Truly advice from the rich, to the rich. Absolutely no insight was given to increase ones' revenue, or cut associated costs while doing so. I wonder if people actually pay him to pontificate on how he is or isn't going to spend his money.

  5. Jim
    Aug 25th, 2008 5:38 AM

    Unfortunately, it's always so easy for rich folk to come out with platitudes such as this. Live your life the way he suggests but on a regular income of under 50 grand a year, and you'll be living on charity for the few years you survive after retiring. Indeed, if you ever get to retire.

  6. Noel
    Aug 24th, 2008 1:35 PM

    Money is but an idea. It is the experiences that matter most.