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Money buys freedom?
Started: by Big Mike Views / Replies:2,967 / 36
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Money buys freedom?

  #31 (permalink)
Market Wizard
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Robert Carrillo View Post
Freedom, to me, means being able to do what you want, when and where you want to do it. Unless one is in prison or otherwise incapacitated, we are all free do to just that, within our means. And we all have the freedom to change our means: lower our debt and increase our disposable income. More disposable income means more options and that is all.

I agree.

But sometimes "what you want" is the prison.

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  #32 (permalink)
Market Wizard
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DrewDown View Post
I think having a boss generally sucks. But I'm also not particularly interested in running an actual company and trying to sell things. So if you wanna live a decent life, you've gotta do something... See where I'm headed with this? I stopped trading for a while and when I got back to it and started refunding the accounts I had withdrawn everything from, all I could think about was the opportunity I missed while I was doing other things that were not contributing to my success.

I should add... Just because you're free does not mean you are automatically way happier. Happiness is a choice. I think you need to choose to be content but keep motivated to work for something better.

Don't ever get married then...

I worked for companies for a while. It was cool. Worked in Netherlands when I was 18 for TNT doing IT stuff. Worked in France, Germany, Italy, USA. All as an employee. I loved it. I was young and enjoying what I did.

Then I did contract work - same deal more money, less time spent in any one company and worked in more than 30 countries. Just from here to there - pure P4P. I did that for years.

Then I settled in one country and became a 'boss', first a regional director for a tech firm then I opened and ran a subsidiary of a Japanese MNC and let me tell you - that is a shit job. At that level half the job is politics. Nobody says what they want. They say one thing but mean another. So every conversation you have with someone within your own company you have to think "what's their angle?"

Backstabbing assholes trying to take your job are a fact of life. And as for dealing with beancounters and lawyers. Jeeeez.... Every quarter - working with beancounters - tweaking the numbers so you either show a profit or take a loss so next quarter is better. Moving expenditure from one place to another - because a budget has been cut to save money - but you don't save money - just move the expense elsewhere. Like firing someone on Friday, paying them severance and then rehiring them as a contractor on Monday.

And any good ideas you have - you all meet, agree - decide on the way forward and someone says "Let's just run this by legal" and you may as well just throw the thing in the bin because if there's one thing 'legal' is good at is slowing stuff down or stopping it happening.

Then there's KPI's. Totally arbitrary statistics that can get you fired even though you are making the firm more money.

For running your own firm - not too bad - longer hours, less money for a long time. Your customers become your boss.

So IMO - being an employee/contractor isn't such a bad thing. It's just a matter of lucking out on your career choice. Contractors in the oil industry were making hay for years until oil prices dipped.

My conclusion
- employee - great
- contractor - great
- middle/senior management - terrible
- own business - ask me in 5 years

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  #33 (permalink)
Trading Apprentice
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Big Mike View Post
I saw a signature from a user today. It read:

"Money buys freedom."

I don't mean to single out that user, but suffice it to say the signature grabbed my attention.

Obviously there are varying levels of money, and varying levels of freedom. Someone who is very poor could benefit from having some extra money, and it would give them freedom to do things they could not do otherwise.

But if we look at just the average middle class family that is say in the 40's or 50's perhaps, someone who has a least a small amount of money in savings, not a huge amount of debt perhaps, and might classify themselves as simply "comfortable" --- I really disagree with "money buys freedom".

Perhaps I am interchanging the word freedom with happiness.

Thoughts?

Mike


I think really depends what money means for that individual... money could keep you a slave, and for sure not giving you freedom in the same manner as money buys freedom...

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  #34 (permalink)
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This is a philosophical debate, but I will add another angle.

Maybe the end result of money is indeed freedom for some. Money buys you time because it gives you options.
When you have options, you have freedom.

If you are rich with no time, and broke with no time....it's the same. no freedom.

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  #35 (permalink)
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Time is the most valuable commodity we have. It is finite. We will never get it back if we waste it.

I read a book in 2010 that talked about moving beyond being paid for time. If you work for an hourly wage you are locked into a finite amount of money that you can generate. If you work and are paid for ideas, you have an infinite ability to generate money.

This was one reason I started seriously looking into trading. As a way to be paid for ideas and not time... Time is everything.

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  #36 (permalink)
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Money buys liberty, not freedom.

Freedom exists only in your own head.

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  #37 (permalink)
Market Wizard
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DionysusToast View Post
Don't ever get married then...

I worked for companies for a while. It was cool. Worked in Netherlands when I was 18 for TNT doing IT stuff. Worked in France, Germany, Italy, USA. All as an employee. I loved it. I was young and enjoying what I did.

Then I did contract work - same deal more money, less time spent in any one company and worked in more than 30 countries. Just from here to there - pure P4P. I did that for years.

Then I settled in one country and became a 'boss', first a regional director for a tech firm then I opened and ran a subsidiary of a Japanese MNC and let me tell you - that is a shit job. At that level half the job is politics. Nobody says what they want. They say one thing but mean another. So every conversation you have with someone within your own company you have to think "what's their angle?"

Backstabbing assholes trying to take your job are a fact of life. And as for dealing with beancounters and lawyers. Jeeeez.... Every quarter - working with beancounters - tweaking the numbers so you either show a profit or take a loss so next quarter is better. Moving expenditure from one place to another - because a budget has been cut to save money - but you don't save money - just move the expense elsewhere. Like firing someone on Friday, paying them severance and then rehiring them as a contractor on Monday.

And any good ideas you have - you all meet, agree - decide on the way forward and someone says "Let's just run this by legal" and you may as well just throw the thing in the bin because if there's one thing 'legal' is good at is slowing stuff down or stopping it happening.

Then there's KPI's. Totally arbitrary statistics that can get you fired even though you are making the firm more money.

For running your own firm - not too bad - longer hours, less money for a long time. Your customers become your boss.

So IMO - being an employee/contractor isn't such a bad thing. It's just a matter of lucking out on your career choice. Contractors in the oil industry were making hay for years until oil prices dipped.

My conclusion
- employee - great
- contractor - great
- middle/senior management - terrible
- own business - ask me in 5 years

It's almost as if I'm looking in a mirror

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