A lot of people would like to be a billionaire or millionaire at a young age but upon further research and study it shows up that being overly wealthy won’t give you too much happiness. Here are the billionaires who stated those lonely words.
John D. Rockefeller– King of Oil Industry “I have made many millions, but they have brought me no happiness”
W.H. Vanderbilt– The Commodore and King of Railroad “The care of $200 million is enough to kill anyone. There is no pleasure in it.
John Jacob Astor: I am the most miserable man on Earth
Henry Ford– Anti Capitalist “ I was happier when doing a mechanic’s job”
Andrew Carnegie– The Steel Magnate. “Millionaire’s seldom smile”
Charles Schwab– President of the largest independent steel company- Died Broke
Arthur Cutten– Greatest of the wheat speculators- Died abroad, bankrupt
Richard Witner – President of the New York stock exchange- died just after release from Sing Sing Prison.
Albert Fall– Member of a U.S. president’s cabinet- was pardoned from prison so that he could die at home.
Jess Livermore – greatest “bear” on Wall Street- committed suicide.
Leon Fraser– President of the Bank of International Settlements- committed suicide.
Ivar Kreuger – Head of the world’s greatest monopoly – committed suicide.
King Solomon – Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income.
Dr. Aaron Beck conducted a study of patients hospitalized with suicidal intentions. He published the results in The American Journal of Psychiatry. One of the major risk factors contributing to a suicidal frame of mind was listed simply as financial resources. The doctor’s brief commentary was this: “Risk increases with resources.” The risk of financial resources is well illustrated by the suicides and emotional breakdowns that commonly occur during significant drops in the stock market. It’s also in the epidemic of high blood pressure and hypertension among today’s successful professional.
If you want to be a millionaire, never focus on profit alone but help millions of people first to enjoy the process. Materialism brings us unhappiness and anxiety compare to helping other people that gives joy and satisfaction.
David Isaiah Angway is a Registered Financial Planner, Chartered Wealth Advisor and a financial consultant for IT-BPO-Banking, HealthCare Industry and Manpower Agencies. He is a conference speaker and was featured multiple times in ANC On the money, Bloomberg TV Philippines. He also writes for BusinessMirror, Rappler, and MoneySense magazine. He is a licensed nurse and a former Senior Fraud Specialist of the largest bank in the world, JP Morgan Chase & Co.
He is the CEO and founder of WinLongTerm Financial Consultancy, that helps organizations retain their top key employees such young urban and educated millennial (Gen Y). It sets and achieves their long-term financial goals by empowering them through behavioral finance.
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