In Silicon Valley, Millionaires Who Don’t Feel Rich

by Guest Sat Jan 24, 2015 11:35 am

http://www.nytimes.com/2007/08/05/technology/05rich.html?pagewanted=all&_r=1&

by nevada Sat Jan 24, 2015 11:55 am

You could buy 5 million worth of microsoft stock and get $135000 as dividend every year. That is a princely amount to live on - even in the bay area. But even after earning that kind of money these people cannot seem to get out of the slog like a dog forever mentality.

by truthbetold Sat Jan 24, 2015 1:12 pm

One guy says looking at some one running in the park " why is he running? he is so healthy and lean".

The guy next to said " You just answered your question".

by confuzzled dude Sat Jan 24, 2015 1:16 pm

nevada wrote:You could buy 5 million worth of microsoft stock and get $135000 as dividend every year. That is a princely amount to live on - even in the bay area. But even after earning that kind of money these people cannot seem to get out of the slog like a dog forever mentality.

For a single may be, not for a family with 1 or 2 kids.

by Marathadi-Saamiyaar Sat Jan 24, 2015 1:24 pm

confuzzled dude wrote:
nevada wrote:You could buy 5 million worth of microsoft stock and get $135000 as dividend every year. That is a princely amount to live on - even in the bay area. But even after earning that kind of money these people cannot seem to get out of the slog like a dog forever mentality.
For a single may be, not for a family with 1 or 2 kids.

A guy with 5 mil MS stock is likely to hv paid off his mortgage. Also likely to hv grown up kids. So, 130K is good. of course, he might hv a 3rd wife with two five-yr olds - then all bets are off.

I met a 63 yr old guy who was talking about his 2 grown up kids. i said you dont hv much long term worries. he sauid - oh, i hv a 10 and a 7 yr old....(thatr is not as bad as an 88 yr old i met who had a 2 yr old kid)

by Kris Sat Jan 24, 2015 1:30 pm

Beatrix Kiddo wrote:http://www.nytimes.com/2007/08/05/technology/05rich.html?pagewanted=all&_r=1&

>>> It is a bubble that many people can't get out of. It is a bit like Vegas where there is always the temptation that your big break is around the corner. Like someone said in the article, a lot of this money is accidental. In other words, it came about by chance.

by Marathadi-Saamiyaar Sat Jan 24, 2015 1:41 pm

Kris wrote:
Beatrix Kiddo wrote:http://www.nytimes.com/2007/08/05/technology/05rich.html?pagewanted=all&_r=1&
>>> It is a bubble that many people can't get out of. It is a bit like Vegas where there is always the temptation that your big break is around the corner. Like someone said in the article, a lot of this money is accidental. In other words, it came about by chance.

I am watching one family in close circles that is in that mold. a Palatial home on the hills of freemont (really a palace-like) with family living apart for 5+ years with hubby searching for another "flipkart" like break (They had one earlier). I asked him what will his kids remember of him when they grow old...and he said they will have a successful company to run after graduation and they will thank him for that.

Different people different songs.

by Kris Sat Jan 24, 2015 1:55 pm

Marathadi-Saamiyaar wrote:
Kris wrote:
Beatrix Kiddo wrote:http://www.nytimes.com/2007/08/05/technology/05rich.html?pagewanted=all&_r=1&
>>> It is a bubble that many people can't get out of. It is a bit like Vegas where there is always the temptation that your big break is around the corner. Like someone said in the article, a lot of this money is accidental. In other words, it came about by chance.

I am watching one family in close circles that is in that mold. a Palatial home on the hills of freemont (really a palace-like) with family living apart for 5+ years with hubby searching for another "flipkart" like break (They had one earlier). I asked him what will his kids remember of him when they grow old...and he said they will have a successful company to run after graduation and they will thank him for that.

Different people different songs.

>>>There is a unique twist to this in the Indian community. Many are also exploring opportunities in India and so there is flying back and forth. One positive twist is there is a lot of networking within the community. The kids in the family you mentioned will likely turn out to be fine. It is becoming a bit like India with various uncles and aunties in your life, with all the socializing. In some of the south bay schools, the kids have 50% indian/asian classmates.

by Guest Sat Jan 24, 2015 2:23 pm

back in the 80s and 90s, we used to hear how americans retire as early as 40 if they have made it good. was a pretty alien concept to fathom in small-town india where people lamented about retirement age cut down to 60. Having said that, life was good in india to continue working as long as your body allowed, and after coming here, what americans did started making more sense. no wonder, now when they chose to continue working here sends shocks to rest of the money-oriented americans.

by Marathadi-Saamiyaar Sat Jan 24, 2015 2:36 pm

Beatrix Kiddo wrote:back in the 80s and 90s, we used to hear how americans retire as early as 40 if they have made it good. was a pretty alien concept to fathom in small-town india where people lamented about retirement age cut down to 60. Having said that, life was good in india to continue working as long as your body allowed, and after coming here, what americans did started making more sense. no wonder, now when they chose to continue working here sends shocks to rest of the money-oriented americans.

Actually, Even the retired americans work as long as their bodies allow....just that after retiring they do things that they like. Indians treat retirement as retirement from life (that is changing though), while americans only retire from a job. There is a guy who has retired twice from two companies and now working almost full time - but in a different line of work.

by Kris Sat Jan 24, 2015 3:12 pm

Marathadi-Saamiyaar wrote:
Beatrix Kiddo wrote:back in the 80s and 90s, we used to hear how americans retire as early as 40 if they have made it good. was a pretty alien concept to fathom in small-town india where people lamented about retirement age cut down to 60. Having said that, life was good in india to continue working as long as your body allowed, and after coming here, what americans did started making more sense. no wonder, now when they chose to continue working here sends shocks to rest of the money-oriented americans.

Actually, Even the retired americans work as long as their bodies allow....just that after retiring they do things that they like. Indians treat retirement as retirement from life (that is changing though), while americans only retire from a job. There is a guy who has retired twice from two companies and now working almost full time - but in a different line of work.

>>> This is something I can't wrap my head around. My dad did this, although my mother and father started hitting every wedding/engagement/ first birthday/50th anniversary of every third, fourth and fifth cousin once he went into retirement mode. They visited me and I asked him if he wanted to do consulting or pro bono work. He was absolutely against it.

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