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Subject:  Re: FI might not mean wealthy Date:  4/2/2005  5:47 PM
Author:  FoolMeOnce Number:  3159 of 5245

foolkath writes:

Financial Independence does not always mean that you are extremely wealthy.

I guess it depends how you choose to define "wealthy". I would rephrase your statement as follows: "The ostentatious display of the trappings of wealth does not necessarily imply financial independence."

I define "wealthy" as having the means to live comfortably, independent of the necessity to work for wages. My definition does not require distinctions to be made between those who are merely wealthy and those that are very wealthy or extremely wealthy. Purchasing lots of toys and expensive clothes does not imply the existence of wealth; it only means that those individuals have a lot less wealth than they otherwise would. In fact, such displays of wealth frequently indicate the opposite . . . . a lack of financial acumen and a need (born of insecurity) to seek social status and the respect of others through superficial displays.

It matters not what your friends think about your financial standing. It only matters what you think.


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