Comments on: Why You Should Worry about Very Rich People http://wealthpilgrim.com/400-people-lost-300-billion-dollars-heres-why-you-should-be-concerned/ WealthPilgrim.com -No Money Worries. No Matter What. Tue, 15 May 2012 03:52:59 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: W Long http://wealthpilgrim.com/400-people-lost-300-billion-dollars-heres-why-you-should-be-concerned/#comment-2198 W Long Thu, 01 Oct 2009 17:22:14 +0000 http://wealthpilgrim.com/?p=4324#comment-2198 Isn't more a matter of objectivity? I mean when you look at a friend you can step back without much emotion and say, although my friend has suffered a loss, with cut backs and careful planning, this person will survive and maybe even prosper. When the financial downfall is squarely on your own shoulders, the focus tends to lean more towards, what I will lose; what I will have to give up; what I have to change. Change makes even the most hardened hearted person a little nervous, even when the change might be positive in some regards (which is probably really difficult to objectively see while accepting the reality of a setback). Isn’t more a matter of objectivity? I mean when you look at a friend you can step back without much emotion and say, although my friend has suffered a loss, with cut backs and careful planning, this person will survive and maybe even prosper.

When the financial downfall is squarely on your own shoulders, the focus tends to lean more towards, what I will lose; what I will have to give up; what I have to change. Change makes even the most hardened hearted person a little nervous, even when the change might be positive in some regards (which is probably really difficult to objectively see while accepting the reality of a setback).

]]> By: Daniel Packer http://wealthpilgrim.com/400-people-lost-300-billion-dollars-heres-why-you-should-be-concerned/#comment-2196 Daniel Packer Thu, 01 Oct 2009 13:56:47 +0000 http://wealthpilgrim.com/?p=4324#comment-2196 I guess we just don't think about the smaller things until it gets to us. With the billionaires, we say, "They have so much money, it doesn't matter." When it's our friends we say, "That's terrible, but they'll adjust." When it's us, that's when we see that we're going to have to cut back and make serious changes. And when it gets real, that's when we get scared. I guess we just don’t think about the smaller things until it gets to us. With the billionaires, we say, “They have so much money, it doesn’t matter.” When it’s our friends we say, “That’s terrible, but they’ll adjust.” When it’s us, that’s when we see that we’re going to have to cut back and make serious changes. And when it gets real, that’s when we get scared.

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