If you had the choice of working really hard for say 7-10 years to make tens of millions or more, or taking a more relaxed approach and being worth say a few mill within the same period, which would you choose? Bear in mind with the work hard option, you'd have to be totally dedicated, virtually a workaholic, long hours, working on weekends, little time for socialising, hobbies, travel etc. With the relaxed option you'd have more freedom and time to pursue other interests.
Tomorrow is promsied to no one. While of course we are consumed with the concept of generating wealth in a capitalistic culture (as well we should be), the fact remains that none of this will be going with us ... I'd say stop and smell the roses as much as you can.
I guess it all depends how old you are. If you're under 50 then yes, go for the big money, you can always fall back on the comfortable $$$$
Can you be a bit more specific.. is it 1 milllion? 10 million? or 3 million?? ... or you can be vague but have some definite terms. & in your post you tend to make the assumption that if you work hard for 10 yrs or so, you'll be wealthy.. but, many don't make it there no matter how hard they work. Please be a bit more specific and tell us more..
Cutten can you define terms? When you say "work hard" do you mean at a) a job you love or b) a job you do because it pays well? I work long and hard at trading but I dont consider it a job. Not to say it doesnt have its tedious moments but what occupation doesnt? Trading to me is akin to a serious game, like Financial chess. A game that has very nearly unbounded remuneration possibilties for my time. What am I going to do after I get "there"? Play golf? Tiger Woods will NEVER have the pure enjoyment he has in the business world once age catches up with his body that he has "playing" golf. Just his good fortune that he can make a fortune at his craft. I look at trading the same way. As long as I dont get dementia, I can trade a LONG time. Hopefully.
Entirely two different people. The person who would chose to work hard won't change his mind with an offer of a more relaxed lifestyle if he knew he would make less. You either work hard or you don't. Some people live for the weekends, some people live for the job.
The difference between a life with a few hunderd thousand a few million is significant, but how different would your life be with a few millions vs tens of millions. Probably not that much unless you are very material/next acquisition driven. If you collect classic cars or paintings it would make a difference, if you are not material, what is the point unless you, like most rich people, do it for the game not the money. You can have a good life on a few million, but you can only live in 1 house at a time etc with your tens of millions. Once you get into hundred millions the difference is greater e.g. provate Jet rather than a car. Bottom line. If work is your main driver go for the tens, if work gets in the way of other things you can do on a few million then stay with the few million unless you have a DEFINITE goal requiring tens of millions AND will be able to enjoy it in ten years time e.g buying a patch of Rain forst to preserve it rather than thoughts of a harem. I never heard of anybody saying on their death bed that they wished they had spent more time at work. I think for many of us here conrtol and ownership of our own lives is a bigger factor in what we do than the lure of money.
In either case you're a multi millionaire. Once you pass a certain level of net worth, any more doesn't change your comfort level significantly and certainly doesn't equal more happiness. So why endure the stress for more money which you won't get any additional enjoyment out of? 10 years is a big chunk of your life.
Money is not everything, it's all about freedom and living life, workaholism is a disease! That is, if you work yourself to the bone to make tons of money you don't need to be healthy and happy. Freedom and comfort, execution of free will is good enough for me, I'll let you know when I get there!
Trading can be a serious and profitable business, as many claim before. And there would be no any single trader could make profits forever according to the reflexivity theory of market dynamics, particularly under whatever dramatic market conditions. Another objective for a trading business would be to diversify and minimise risk associated with unforeseeable uncertainty. Probably the answer by now would be quite obvious.