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Financial Comfort or Riches? by tarazkp

View this thread on: hive.blogpeakd.comecency.com
· @tarazkp ·
$59.03
Financial Comfort or Riches?
<div class="text-justify">


>Would you choose financial *Comfort* or *Riches*?

It seems a pretty easy question to answer, doesn't it? If you have a choice between having financial comfort or being wealthy, it is obvious to take the wealth. But, let's put a little bit of a wrinkle into the question for this poll today by adding some conditions to the choices.

![image.png](https://files.peakd.com/file/peakd-hive/tarazkp/23tbppLGCrbq3WT6oUmxvMbcXhTDoDcJvDXTvZFQTtDWacMWNJGigVPTr8ygamA9P81tZ.jpg)

> 1. Financial comfort is guaranteed for a somewhat better than average lifestyle, but it is impossible to ever become more than comfortable. You will always be tied to the average. 
> 2. Wealth is not guaranteed, but there is a higher than average chance of becoming wealthy, and there is no limit on how wealthy. 

I think that the answer is going to depend a lot on current position and potential. For example, would someone who is already at an above average wealth level be willing to take a reduction in wealth in order to guarantee their comfort? If someone was comfortable now, would they be satisfied to stay there for the rest of their life? If someone was below average and struggling, would they be content to take the guarantee, even if it means they can never have more? Does age factor into the decision? Culture? Nationality? Political situation faced? 

This decision is hard for me to make I think, because while the thought of eternal financial comfort is super appealing right now due to my employment situation and the view of the future, it also burns my crypto lottery ticket, which *might* be worth more in the future. However, there is a lot of risk in holding crypto, and then even after winning, there is a lot of risk of losing wealth in various ways too. 

Then there is the global future view to consider, as it seems likely that the "average" life is going to decrease, while the very top increases its wealth exponentially. This means if tethered to the average lifestyle, it is still going to degrade, and there is nothing that can be done about it. If the average lifestyle was getting better, then it would make tethering far more attractive, as it would mean continually being slightly ahead of the curve. Being wealthy means being able to increase the gap to maintain or improve lifestyle/ wellbeing even in a degrading economy. 

> Which would you choose and why?

I would like to hear from people and get some of the though behind this hypothetical decision, because I think it is worth considering. Not because there are guarantees in life on anything, but it can also highlight where we are right now, as well as what we might consider the ultimate goal. I think it is easy to get trapped in the numbers while losing the sense of what the numbers relate to. I think it is the same trap that the entire economy is in and how governments drive legislation, where they see "money" as equivalent to "quality of life" - which is not true at all. It is also likely that we would increase the total wellbeing, if we were content with less and didn't have extremes in wealth. 

So?

Taraz
[ Gen1: Hive ]

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*The poll is available below and will work in most of the main interfaces. If you can't see it, try viewing through Peakd. You should see the results only after you vote.* 

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@azircon ·
$0.27
the only thing that diversification guarantees is mediocrity!
👍  
👎  ,
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@tarazkp ·
But if concentration has led to losing everything already, comfort sounds pretty good :D
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@azircon ·
$0.23
No risk no gain
👍  
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@baby1 ·
This is very educative and i find it inspiring. Keep up the good work dear, I appreciate the effort you put in this beautiful piece.
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@tarazkp ·
Thanks honey.
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@bozz ·
$0.33
I definitely would have went with the first one until you gave the definitions.  That makes it a bit more sticky for sure.  I ultimately still picked comfort. I kind of feel like that is where I am right now and though there are times more money would be nice, I can't really complain.  It's a decent place to be.
👍  , ,
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@tarazkp ·
$0.04
A decent place to be, is not a bad place to be, is it? 
👍  
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@bozz ·
No, like I said, I am not complaining at all. I just wish I could get a little boost here or there.  Hopefully crypto will do that for me.
👍  
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@danzocal ·
!PIZZA
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@elias22 ·
$0.23
Guaranteed comfort
For me and a large group of people around me as well, this explains why people look for a permanent job instead of trading, for example, although trading may make you earn a lot, and also people look for a fixed ARP instead of the risk of investing.
👍  
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@tarazkp ·
I reckon trading might be the way that many are able to get the principle to settle down and invest into something with a lower, steadier APR
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@fieryfootprints · (edited)
$0.31
I guess it depends on just how much would be considered financial Comfort. I don't have a goal of being millionaire. So getting 1-2k eur a month would already make me happy. But I would have to think what to do with that money because in normal scenario I would put most of it in Hive/HBD. but in your scenario investing is pointless because I would still not get any real gains from it. I guess I could still put it in to Hive just so I would have bigger vote...
👍  
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vote details (1)
@tarazkp ·
$0.05
What if it was something like 20% above the average income in your country? Would that make a difference? 
👍  
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@fieryfootprints ·
$0.22
In that case I would take  financial Comfort. I would not be able to buy a basketball club but I could live a comfortable life for a foreseeable future.
👍  
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@fieryfootprints ·
speaking about riches how much do you think would be reasonable price for this card?
https://splinterlands.com/card-detail/661/gold/13

I also have this:
https://splinterlands.com/card-detail/668/gold/13 

In unbound circulation are only a few more Commander Slade than Thunderhoof Nomad so I reckon that their value should be similar?
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@ghua ·
$0.32
I think I would like to be in situation that I can work less and focus on my own things 8hrs/day

no riches needed, good estimate would be: how would your ideal everyday day look like? most people are quite close to it but they have to work to support themselves and families
👍  
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@tarazkp ·
Do you think for instance, 20% above the country average would get you there?
👍  
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@ghua ·
I think something like 30% above the average could work, yes. 

but wifey would have to work 😂
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@goldgrifin007 ·
$0.22
> Financial Comfort or Riches?

Dear @tarazkp !
What is your wife's choice?😃
👍  
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@tarazkp ·
She would choose comfort 100%

Why didn't you answer?
👍  
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vote details (1)
@goldgrifin007 ·
I agree with her! 😄
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@hatdogsensei ·
$0.23
I would go with financial comfort as being greedy for more can sometimes become worse at some point
👍  
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vote details (1)
@tarazkp ·
Life can always be worse. We tend to seek security, even when it doesn't exist. 
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@krazzytrukker ·
$0.33
- ***"I think that the answer is going to depend a lot on current position and potential."***

Exactly Correct.! 💯%

I would have taken what is behind door #2.

But now that We are on the ropes here with lack of and lower rate freight. I would take any help to maintain what was a comfortable but work sustained comfort. Now a stressful struggle.
👍  
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vote details (1)
@tarazkp ·
$0.04
That sucks mate. Hopefully this year things will look up more once the world and economy settle a bit. 
👍  
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vote details (1)
@pizzabot ·
<center>PIZZA!


$PIZZA slices delivered:
@danzocal<sub>(8/10)</sub> tipped @tarazkp 


</center>
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@porqpin ·
$0.30
I chose riches because in life absolutely nothing is guaranteed even if it seems guaranteed. I will rather shoot for the stars so when I fall I fall on  the clouds
👍  
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vote details (1)
@tarazkp ·
Have you ever thought that there are other stars that financial wealth to shoot for though?
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@porqpin ·
My thought and believe is all stars are farther to earth than the clouds. In as much as its a star my shot is definitely to the peak.
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@relf87 ·
$0.30
I think there is a risk of moral hazard. If we were to ignore that, I personally prefer to strive for the possibility of riches (which I voted for). But if doing nothing guaranteed an average lifestyle/income, why not?

I was wondering if the same discussion can be ported over to life expectancy. Do we want to have control of our health (and perhaps live longer), or would we choose pass on at the average life expectancy (regardless of what we do). Hmm.
👍  
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vote details (1)
@tarazkp ·
$0.03
>I was wondering if the same discussion can be ported over to life expectancy. 

Probably. "Here for a good time, not a long time" kind of thing?
👍  
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vote details (1)
@ryivhnn ·
Gggraaargh.  I'm in the "need more information" sphere which annoys youngest so much when he shoots these hypotheticals me (on the bright side because I always want more information and don't just answer them off the bat I'm hoping he's learning that you should look for more information and also to stop asking me stupid hypotheticals).

I originally picked "guaranteed comfort" because that's generally my preference, I'm pretty chill and as long as we can afford to do the things we want to do I'm happy.

Then I switched because I figured may as well try for riches as assuming that the questions were relative to our situation right now/foreseeable future may as well take the higher than average possibility of riches.

I probably also switched because

> but it is impossible to ever become more than comfortable

would have probably triggered me, I don't like limits I consider arbitrary XD
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@saltycat ·
$0.28
My immediate response was comfortable. It's where I am now - so it fits my comfort zone. I don't think I fit in with being wealthy. My lottery ticket as you refer to it here is all about maintaining comfort rather with the object of becoming wealthy.
👍  
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vote details (1)
@tarazkp ·
Maintaining comfort is getting harder over time, isn't it? Or perhaps, getting comfortable in the first place is harder, maintenance is okay. 
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@seattlea ·
$0.30
I voted for possibility of riches. This is probably because of my starting point. I believe that I am starting at better than average level and like you have a crypto ticket, perhaps a much smaller one, but still. 
👍  
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vote details (1)
@tarazkp ·
>I believe that I am starting at better than average level and like you have a crypto ticket, perhaps a much smaller one, but still.

It makes a big difference, as does the believed availability of work in the future. If the options to make money are bleak, comfort is attractive. 
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@th4488 ·
$0.30
🤔 If people earn $100 or $1000 or $10000 doesn't matter because a man always feels short of money. It depends on life style. If money increases, life style does so. At this condition, it is difficult to answer your question. If I choose comfort, it would be lie. With changing condition, people's mind change also. If I were a rich , I must choose the second option. I find no example of a man become wealthy without any desire or choosing just comfort.
👍  
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vote details (1)
@tarazkp ·
If always feeling short of money, doesn't that mean that attempting to be rich is the same feeling anyway? You could live your life very poor, while trying to be rich. 
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@tarazkp ·
Also, why not answer the poll?
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@th4488 ·
I did it but it was not working then. Let me try again.
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@tht ·
$0.29
I would like to have financial comfort. When you have too much of something, your body loses its balance. Of course, there are positive aspects to being wealthy. However, wealthy individuals make great efforts to protect what they have. Losing something will cause great pain for them. They are also not satisfied with what they have. They want more, much more. They may not have time to enjoy wealth :)
👍  
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vote details (1)
@tarazkp ·
Everyone wants more, even if they already have enough. It seems to be a human condition - but does it have to be more money, or could it be more wellbeing?

btw, why didn't you answer the poll?
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@tht ·
I forgot to vote in the poll right away because I don't use Peakd. I voted now.
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@tortangkahoy ·
$0.23
My choice will be financial comfort because I do not want to take a risk
👍  
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vote details (1)
@tarazkp ·
As one said above, no risk, no gain. 
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@videoaddiction ·
$0.29
I would choose guaranteed comfort which allow me to realize my plans in my life. Sure, they are not so big plans :)
👍  
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vote details (1)
@tarazkp ·
Big plans are for little minds perhaps! :D

btw, why not answer the poll?
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@videoaddiction ·
Done, I thought I did.
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@xrayman ·
It took me a few minutes to decide between the two possibilities. I confess that at first I was inclined to choose financial comfort, but then I found myself looking at my professional life. In the 21 years I've been in the labour market, I can pinpoint exactly the dangers of being in the middle class. More than twenty-five years ago, when I chose the course I wanted to apply for, I thought I would have a more relaxed life in financial terms, because the degree would lead me to a job that would leave me with some comfort and security. But in the last 10 years, I've realised that salaries have not been updated in a proportionate way. On the other hand, the most disadvantaged classes, who also have access to state support such as subsidies, have seen their minimum wage increase. In conclusion, the constant wage outdatedness of the middle class, as well as the constant increase in pressure and financial crushing for the majority of the working population, has led to the point where, despite being comfortable, I don't look to the future with the same optimism, at least as far as my financial return on my professional activity is concerned. I chose the possibility of wealth somewhat driven by the dream that my investment in crypto could take me to a level a little higher than the one I currently have or will have access to. 
👍  
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vote details (1)
@zekepickleman ·
$0.34
Looks like it is split down the middle with my vote at this point!

I have a problem with each of the choices and had to ponder a little before choosing. 

With the path I have taken, choosing to pull myself out of the rat race in favour of having a fun life with my family & friends, you would think I went for the comfort. I am always considering the downside of comfort which can lead to complacency, lack of motivation, and the tendency to relax on that escalator and end up at the bottom. Maybe this guarantee would effectively stop the escalator but still. 

I have to go with the possibility of wealth. I picture the challenge of conquest, lessons learned along the way, and prospect of accumulating some wealth to be used to help others. Not Warren Buffet level of help but my family, friends and possibly a little further out as the opportunities present themselves. 

When friends come up with impossible scenarios where I have to pick something on a desert island, I generally nope out of those because I am too lazy to grind my grey matter frivolously. This is more broad and applicable so it is good to be thoughtful to consider the possibilities and be thankful for the path I hope I am on. 
👍  ,
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vote details (2)
@tarazkp ·
$0.09
> I picture the challenge of conquest, lessons learned along the way, and prospect of accumulating some wealth to be used to help others.

I have much the same connotations with "workless wealth" (comfort in this case), as *what is the point of life?* I know it isn't just to work, but I think that comfort would breed apathy and lead to lots of wasted time. Working toward something, even if failing, seems like more fun.

>This is more broad and applicable so it is good to be thoughtful to consider the possibilities and be thankful for the path I hope I am on.

It is possible that at some point, these questions will apply to some degree. Keep going, keep grinding, or just settle and relax a bit?
👍  
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vote details (1)
@zekepickleman ·
Both.  Balance and progress.
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