2529: Who Feels Rich Really? by Nick Maggiulli of Of Dollars and Data on Money Perspective

Optimal Finance Daily - Financial Independence and Money Advice

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Investing, Self-improvement, Education, Business

4.5 • 1.3K Ratings

🗓️ 25 November 2023

⏱️ 13 minutes

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2529: Nick Maggiulli's insightful article delves into the relativity of wealth and our perception of it, using the story of Pahom from Tolstoy's "How Much Land Does a Man Need?" and Lloyd Blankfein's views on wealth. It challenges our understanding of what it means to be rich and how our comparisons with others shape this perception. Read along with the original article(s) here: https://ofdollarsanddata.com/who-feels-rich-really/ Quotes to ponder: "Have you ever had the impression that other people have many more friends than you? If you have, you are not alone. Our friends have more friends on average than a typical person in the population. This is the friendship paradox…" Episode references: "How Much Land Does a Man Need? by Leo Tolstoy" - available at Online Literature. "Interview: GS's Lloyd Blankfein - The Big Picture" - available at Ritholtz.com. Credit Suisse Global Wealth Report" - available at Credit Suisse. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:56.1	your favorite podcast player.
0:58.0	This is optimal Finance daily episode 2529.
1:04.0	Who feels rich really?
1:07.0	By Nick Majulley of of Dollars and Data.com
1:10.0	and I'm your host and personal finance enthusiasts Diana Merriam. And now let's get right to it and
1:15.0	let's get right to it and continue optimizing your life.
1:20.0	Who feels rich really?
1:24.3	Really by Nick Mad Julie of of dollars in data.com.
1:29.2	One of the greatest short stories I've ever read is how much land does a man need by Leo Tolstoy.
1:37.0	The story centers around a peasant named Pahome who wants to acquire land so that his family can live a more comfortable life.
1:45.0	Unfortunately, Pahom's quest for comfort quickly becomes an obsession as he amasses more and
1:51.8	more land, yet is never fully satisfied.
1:55.0	The climax of the story occurs when Pahome hears of a neighboring tribe who's selling their land for next to nothing,
2:02.0	in an effort to secure some of this cheap land. selling their land for next to nothing.
2:02.7	In an effort to secure some of this cheap land,
	...

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