Reply #17: I think amassing money is a kind of illness [View All]

[frazzled]

Honestly, for several decades I've been asking myself the question: why are these wealthy people compelled to amass more and more and more money? What can they possibly spend it all on? They can't is the answer: they just want it to continue to pile up. If hoarding is considered an illness, I think hoarding money is a subset of that illness.

Sure, you can build the $6 million dollar mansion and buy a second home in Aspen; and set up an account at Tiffany's; and travel and buy fine things. But after a while there's just so much junk to be had.

I have been acquainted with a number of members of an older generation of wealthy individuals, the scions of great industrial or business families of the past. They saw themselves as owing something back to society and their communities. They were big patrons of the arts and even social causes. They gave a lot of money away. They did not flaunt wealth. I remember, when we first moved to the city in question, someone pointing out to me a notable wealthy individual. "Do you know who that is?" he said. I didn't. Nodding towards this man wearing an old plaid jacket and scruffy shoes, he told me the name, and added, "You have to be as rich as him to dress like that." The gentleman was an extremely generous donor to the community.