Pros and Cons of Being Wealthy

You may have heard the phrase more money, more problems.

And it’s true that many of the problems that come with poverty and scarcity can be solved, or at least significantly mitigated, by money and wealth.

Is it all, though, puppies and rainbows? Sure, one would likely rather have money than not have it, but are there downsides, too?

You want to be rich. Perhaps very wealthy indeed. Who wouldn’t? Debating the pros and cons of being wealthy seems as one-sided as a boxing match between Warren Buffett and Muhammad Ali.

The Pros of Being Wealthy

Arrow

“Money’s greatest intrinsic value – and this can’t be overstated – is its ability to give you control over your time.”

Self-determination is at the luxury end of the hierachy of needs. And when you’re very wealthy, within reason you can do what you want, where you want, when you want, and a lot of the time with who you want.

But beware! Just like the baddies level up in a video game moments after you get a new weapon upgrade, so your money problems can mutate and come back stronger when you get rich.

The Downsides of Being Wealthy

Arrow

You see this with children born into money, as well as people who built a company up for several decades and sold it too late to start another. When you have the money, what next?

The End of Your Goals and Ambitions

SWIPE UP NOW TO READ MORE

The Many Money Mistakes of a Wealthy Doctor

MORE STORIES

Owning Assets Beats Having a Job