Being A Billionaire Is Probably Not As Easy As One Might Imagine

There are advantages to be sure.  A heightened sense of financial security is one of those advantages.  Personal security is another question altogether.  Safety is one good reason for a lot of rich people to be more or less “Invisible” (Reclusive) (Unavailable) (Unapproachable.)

Having round-the-clock personal Executive Security is always comforting albeit expensive.

If the estate is properly organized and managed, then the individual billionaire’s worries are few.  The money mechanisms more or less take care of themselves.

Between the attorney(s), the financial advisor(s) and the tax professionals, the managerial burdens are pretty much lifted off the shoulders of the individual person with great amounts of assets.

I am not a counselor and I am not giving advice here so do not think that I am and definitely do not act on anything that I am writing here.  We are all different people, our situations are always all unique and different from each other and we are all subject to changing circumstances that could change everything for us in an instant.  Therefore, there is a critical need for responsible, well-known, reputable professionals to be engaged if one is fortunate enough to have some wealth.

I am a person who believes that if someone has assets equal to a billion dollars, then it is probably a good idea for no more than 5 percent of those assets to be in available cash. That would amount to about 50 million dollars in liquidatable cash resources.

I would also say that it would be prudent to maintain no more than 5 percent of that amount in casual disposable form ….available at the writing of a check or the swiping of a credit card.  That would amount to somewhere in the neighborhood of Two Million, Five-Hundred-Thousand dollars. ($2,500,000.)

If I were such a fortunate man as the one I am talking about here, I would, no doubt, have a lot of my cash assets in the form of mutual funds, certificates of deposit, commercial paper of one kind or another and Treasury bills.  Not to mention checking accounts in a few dozen strong banks.  Of course, I would be using “Private Bankers” who deal in large sums — and these can be discovered through communication with any larger local banking institution who will ordinarily be more than happy to refer you to one if needed.

I have always wanted to be a billionaire but, as fate would have it, I have fallen a little bit short.  Still there is nothing that I desire that I cannot attain.  That is good enough for me.

I am not a country-club type of guy because I do not like phony attitudes in people.  I am grateful for the occasional gourmet meal in an upscale restaurant in the company of trusted, well-vetted friends … on special occasions.

I am not a gaudy, pretentious kind of guy either.  While I do always insist on being driven somewhere instead of driving and I refuse to fly commercially (I do not fly much anymore … haven’t been in a plane in almost 56 years now …. I do not wear expensive watches …. I prefer a simple cheap disposable with a three year battery in it ….my fingers are too fat for rings now … I do keep a few suits in case I have to go to church or a funeral or a meeting of some kind … which is rare enough … because I stay close to home …

I am about as ordinary as ordinary can get … except for the fact that I am somewhat eccentric.

I do love to blog about money sometimes because I have been around a lot of people who have been virtually buried in it and I find them to be interesting but I only have a very few of them as friends or associates anymore ….in fact, I think most of them are dead and buried by this time ….I guess some of their overblown extravagances didn’t do them all that much good after all ….

LOL

By the way, WordPress,com, where in the hell are all my readers today?

10 thoughts on “Being A Billionaire Is Probably Not As Easy As One Might Imagine

  1. 🤔 If I was a billionaire, I would have been the rich guy who is a recluse.

    If being a millionaire is hard work, I can only imagine the amount of work that is required by a billionare

  2. I can imagine it might be tricky to manage being a billionaire, but I am certainly willing to try it!
    Best wishes, Pete.

    • Statistically, most people who come into sudden wealth are stone cold penniless in 7 years or less … mainly because they know all about spending their money but they little or nothing about how to grow their money. That is how I went bankrupt in 1978. Once I learned how to grow my money I was back on a stable path and have not left that path.

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