Sterling Terrell

recovering economist

Unwealth

Unwealth

I like this concept of unwealth.

Most of my “unwealth” (financially) would be in passive income for example.

See, you may want $60,000 in dividend income per year, but only make $20,000 (deficit).

Or, you may want $60,000 in dividend income per year, but make $80,000 (surplus).

Of course, this could also be looked at in non-financial terms too.

Do you have more or less free-time than you want? Patience? Kindness? Joy? Love?

The point is that it is relative.

You get to decide where you are.

“Wealthy” is meaningless and has no robust absolute measure; use instead the subtractive measure “unwealth.” that is the difference, at any point in time, between what you have and what you would like to have.

-Nassim Taleb, The Bed Of Procrustes

This Little Trust Fund

This Little Trust Fund

Only someone talking about “this little trust fund” that they have would say something as ridiculous as this.

In my opinion, if you are wealthy, you need to be living in a way that makes your children look up when they are 30 and perplexingly ask:

“Wait. Are we rich?”

Understand: Financial freedom is simple – but hard.

Pretty soon now, maybe next month, maybe later, Max and Sharon plan to leave for Africa and India, where they can live off the land. “I got this little trust fund, see,” Max says, “which is useful in that it tells cops and border patrols I’m O.K., but living off the land is the thing. You can get your high and get your dope in the city, O.K., but we gotta get out somewhere and live organically.”

-Joan Didion, Slouching Towards Bethlehem (Amazon)

Sterling Terrell