Columnist Barry Ritholtz writes , “...Over the years, I have had some fascinating conversations with people who have hospitals and graduate schools named after them. I’d like to share some of the things I have learned from these folks.
1. Having money is better than not having money. Sure, this may be obvious, but let’s get it out of the way upfront. Money may not buy you happiness, but it buys many other important things. Like financial security, excellent health care, education, travel and a comfortable retirement. In a word: freedom.
2. Don’t become “cash rich” and “time poor.” Work is the process of exchanging your time for money. Remember: What you do with your time is far more meaningful than the goods you accumulate with your money. If you are working so much to become rich but you ignore your spouse and miss seeing your kids grow up, you are actually poorer than you realize.
3. Memories are better than material objects. You may be surprised to learn that among the monied set, expensive cars, yachts, houses, jewelry and watches come at the end of the list. Their priorities? Memories and accomplishments. This was especially true when it came to family. Toys matter less than good times. The rule of diminishing returns is a harsh mistress with luxury goods…
http://www.washingtonpost.com/business/7-life-lessons-from-the-very-wealthy/2011/06/15/AGxw6aaH_story_1.html
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