What makes you think the accumulated wealth manages itself? It takes skills to acquire and to manage it. Well! they may not be putting nails into woods 9-5 every weekday, but they take higher risk in the business, so they get paid greater.
If I can’t pass it down to my kids, maybe I won’t be motivated to earn in the first place.
Accumulated wealth is managed by specialists in the field of wealth management. If you make your money by being born into it, your family already has a wealth manager. The wealth manager is paid a small percentage of a very large amount of money as a salary. This is literally what hedge funds and wealth management offices are for.
So no, the wealth does not manage itself but the wealthy do not manage their own money directly. Further, wealth management is not something that requires even 10 hours per week and certainly not 50 weeks a year. So again, those that work have very little money and those with money do very little work.
Also, you think it’s riskier to manage money than to do roofing? You have no idea what risk is. You personally would never risk your life by working a dangerous job but you can’t see your own ideology blinds you by making you believe real risk is losing numbers on a spreadsheet.
By the way, at the level of wealth management, risk is easily mitigated with what are called hedges (hedge funds, get it). A hedge is when you decide to put some of your money into one place that has some risk of loss and put some other of your money into another place that has a similar chance of growth based on similar factors. For example, if you invest in corn, and the price of corn goes down, you could lose some money. So, whenever you invest in corn, you also invest in something that benefits when the price of corn goes down, so for example you might invest in pigs, who eat corn. Price of corn goes down, lose money, but also, cost of feeding pigs goes down so margin goes up so gain money. There we go. Risk managed.
Come to terms with it. Your belief that money comes from hard work is entirely wrong and not backed up by the evidence. It’s a fairy tale. We have a few heroic rags to riches stories, we embellish them and tell them to each other and our kids, because when we’re poor that’s all we have to give to our kids, stories. The reality is that the rich don’t work and the working don’t get rich and it’s been that way for centuries.
What makes you think the accumulated wealth manages itself? It takes skills to acquire and to manage it. Well! they may not be putting nails into woods 9-5 every weekday, but they take higher risk in the business, so they get paid greater.
If I can’t pass it down to my kids, maybe I won’t be motivated to earn in the first place.
Accumulated wealth is managed by specialists in the field of wealth management. If you make your money by being born into it, your family already has a wealth manager. The wealth manager is paid a small percentage of a very large amount of money as a salary. This is literally what hedge funds and wealth management offices are for.
So no, the wealth does not manage itself but the wealthy do not manage their own money directly. Further, wealth management is not something that requires even 10 hours per week and certainly not 50 weeks a year. So again, those that work have very little money and those with money do very little work.
Also, you think it’s riskier to manage money than to do roofing? You have no idea what risk is. You personally would never risk your life by working a dangerous job but you can’t see your own ideology blinds you by making you believe real risk is losing numbers on a spreadsheet.
By the way, at the level of wealth management, risk is easily mitigated with what are called hedges (hedge funds, get it). A hedge is when you decide to put some of your money into one place that has some risk of loss and put some other of your money into another place that has a similar chance of growth based on similar factors. For example, if you invest in corn, and the price of corn goes down, you could lose some money. So, whenever you invest in corn, you also invest in something that benefits when the price of corn goes down, so for example you might invest in pigs, who eat corn. Price of corn goes down, lose money, but also, cost of feeding pigs goes down so margin goes up so gain money. There we go. Risk managed.
Come to terms with it. Your belief that money comes from hard work is entirely wrong and not backed up by the evidence. It’s a fairy tale. We have a few heroic rags to riches stories, we embellish them and tell them to each other and our kids, because when we’re poor that’s all we have to give to our kids, stories. The reality is that the rich don’t work and the working don’t get rich and it’s been that way for centuries.