Do you think too much money is a problem?
By scheng1
@scheng1 (24650)
Singapore
February 27, 2011 7:14am CST
Most of us do not have the problem of having too much money.
We have more debt than money anyway.
We may not even know the rich people with too much money. However, many of the TV serials dealt with the lifestyle and problems of the rich.
The newspaper exposes the scandal of the rich too.
Those scandals involve the greed for more and more money, even though they already have too much.
Do you think having too much money is a problem?
Let us assume that you get rich overnight, how are you going to deal with the excess cash?
5 people like this
47 responses
@didi13 (2926)
• Romania
27 Feb 11
Money is a necessary evil. We know clearly that you can not live without them,but we need to know to buy. Even if you have so much money "the fork back to them, " you must not take the wrong path. Better donate, do charity,anything but to be rich and soul.You know about that "money is the evil eye. " Maybe it's true, but not all,depends on the individual, how to let them control.
2 people like this
@scheng1 (24650)
• Singapore
27 Feb 11
Hi Didi13, the problem is always in us. I agree with you on this point.
Usually the poor are poor because they have some bad habits, and they do not eat healthy, leading to many health problems.
The problem with the poor and the middle class is that they want to show off, that is why they buy things they cannot really afford.
if only everyone is happy with their lifestyle, family, friends and work, then life is very pleasant.
2 people like this
@Maggiepie (7816)
• United States
4 Apr 11
Maybe it's a problem, but, oh, pleeeeease, bother me with finding out! 
I've long since made out my list of what I'd do if riches plopped into my lap. After the lawyers I'd need to hire to sort out the taxes (& I'd wish for enough I'd still have millions!), my Church would get a 10th of it, my family would never be hungry or have to worry about rent or medical care again, I'd donate to lots of charities--starting with no-kill shelters--& political causes (Conservative), & buy a home.
Then I'd hire servants to keep it clean & in good repair, as well as personal servants such as a chef who would plan nutritious meals so I could go on a good diet. I'd invest at least a third of it, & the rest I'd use to travel & pursue interests of my own. Whatever was left over when I die would be split among my best friend, Elic, my family & my tiny, poor Church, & a tombstone that says "Nyah, nyah! And you thought I'd never make it! LOL!"
Maggiepie
"It is with words as with sunbeams, the more they are condensed, the deeper they burn." ~ Robert Southey, poet (1774-1843)
I've long since made out my list of what I'd do if riches plopped into my lap. After the lawyers I'd need to hire to sort out the taxes (& I'd wish for enough I'd still have millions!), my Church would get a 10th of it, my family would never be hungry or have to worry about rent or medical care again, I'd donate to lots of charities--starting with no-kill shelters--& political causes (Conservative), & buy a home.
Then I'd hire servants to keep it clean & in good repair, as well as personal servants such as a chef who would plan nutritious meals so I could go on a good diet. I'd invest at least a third of it, & the rest I'd use to travel & pursue interests of my own. Whatever was left over when I die would be split among my best friend, Elic, my family & my tiny, poor Church, & a tombstone that says "Nyah, nyah! And you thought I'd never make it! LOL!"
Maggiepie
"It is with words as with sunbeams, the more they are condensed, the deeper they burn." ~ Robert Southey, poet (1774-1843)
@Maggiepie (7816)
• United States
4 Apr 11
Y'know, I'll be sure & ask him about that, the very next time we play tennis together.
Maggiepie
"It is with words as with sunbeams, the more they are condensed, the deeper they burn." ~ Robert Southey, poet (1774-1843)
Maggiepie
"It is with words as with sunbeams, the more they are condensed, the deeper they burn." ~ Robert Southey, poet (1774-1843)@scheng1 (24650)
• Singapore
4 Apr 11
Hi Maggiepie, maybe you can write to Warren Buffet.
His likely successor just left him, so he needs someone to help handle a few billion dollars of investments.
I think when you can prove yourself in doubling the money every year, you can take over him.
That is the real problem of having too much money!
1 person likes this
@scheng1 (24650)
• Singapore
5 Apr 11
Smart Maggiepie, when you play tennis with him, try not to make him suffer from heart attack!
Otherwise you have to handle those billion and billion dollars of investment, answers to the shareholders, and then take over the management of his company!
I wonder how anyone can find investment opportunities with having more than $37 billion dollars in cash!
That is a huge problem! The worst is that it is not even your money.
1 person likes this
@salonga (27775)
• Philippines
2 Mar 11
Too much money is not a problem but rather a blessing. Too much money brings about good and well provided life and the opportunity to help others in need as well. It takes just proper handling of excessive money so it won't become a problem. When does excessive money become a problem? When the person who owns it suddenly turns too selfish and greedy and has made money his god. The love of money is the root of all evil so that is the where the problem lies.
@salonga (27775)
• Philippines
4 Mar 11
Well you have a point but if God gave me too much money then that is a blessing no matter what. I just have to learn how to handle this blessings well. To me being blessed with so much money could never be bad at all provided I use it in blessing other people's lives as well.
@scheng1 (24650)
• Singapore
5 Mar 11
Hi Salonga, actually most people are terrified of handling millions and millions of dollars.
That is why many lottery winners rather donate their winnings to charity or just spend it away.
They are plainly not able, and not comfortable to have a few million dollars in the bank.
I think having money to do good is enough of a blessing.
Having and holding on to the money is not a blessing at all.
@scheng1 (24650)
• Singapore
3 Mar 11
Hi Salonga, too much money is more a problem than a blessing.
A rich person has to hire bodyguards to keep his family safe.
After that, he worries that the bodyguards get corrupted, and kidnap his family for ransom.
I think having enough money to live a comfortable life is a blessing.
Having not enough money or too much money is no joke. There are too many worries associated with that.
1 person likes this
@1hopefulman (45123)
• Canada
27 Feb 11
I would keep some so that I wouldn't have to worry about work any more and give the rest away as I only need so much. I would use what I don't need to do the most good for others. I'm pretty happy with my simple life and I would not want any complications.
@scheng1 (24650)
• Singapore
27 Feb 11
Hi 1hopefulman, I think you might as well keep the money, and use it to sponsor those people with missionary spirits to go for bible training, and then go to missionary assignments.
That will be a better way of spending the money.
I think those young people who put God first need encouragement too.
They can use the money to buy medicine or food for the poor people in whatever places they go.
@1hopefulman (45123)
• Canada
28 Feb 11
That's the idea. Use the money we don't need to help other people, both spiritually and physically. There are many people suffering that we could help. Anyways, we do the best with what we have.
@scheng1 (24650)
• Singapore
28 Feb 11
Hi 1hopefulman, many people put their religious organizations in their wills.
They need the money when they are still alive, but they do not need the money when they die.
They give a nominal sum to their children, so that their children do not get lazy, and spend their time doing nothing.
Most of us find hope and meaning of life in a religion. That is why it makes sense to support it monetary.
@scheng1 (24650)
• Singapore
18 Mar 11
Hi Ifa, I think she is a good example of what the rich people should be.
She even donates more than the government in Singapore.
Actually over here, there are not many poor people who are jobless and completely lack of money.
Government has many ways to reach out to these people.
The latest scheme is to subsidize the employers, so that they can hire old people. I think that is a good scheme.
@scheng1 (24650)
• Singapore
17 Mar 11
Hi ifa, that is very true. Problems never go away.
Poor people have their problems, and rich people have their problems.
The only difference is that rich people have more money to help if they want to.
One person in my country donates a million dollars to help the Japanese. I think that is very nice of her.
Her family is very rich, and she works for her family business.
I think if every rich person thinks the same way, that will be very good.
@CTHanum (8234)
• Malaysia
1 Mar 11
I do not think it is a problem at all. If they got plans on how to spend their money they should follow the plans otherwise it will become like those scandals and richer people problem.They just get the lust and greed around them and that is why such problems happens.
@scheng1 (24650)
• Singapore
1 Mar 11
Hi CTHanum, most rich people are good at investing, and growing their money.
However, they are not good at teaching their children to have the same attitude towards money.
it is hard to tell the kids of the billionaires to work hard, when they have so much money to spend.
I think most of the problems are money related, but does not come from having a few billion dollars in the bank.
@kalav56 (11464)
• India
27 Feb 11
Hullo Scheng!
How much money is too much money now? I am a welloff person living in good comfort. But , I adopt the same , consistent standard of living irrespective of what I have.I do not have money to blow or fritter irresponsibly. So, if I get excess cash I would just put it in my bank account and invest it in FIxed deposits and shares and save up for my future generations.
@scheng1 (24650)
• Singapore
27 Feb 11
Hi Kalav, what about 38 billion dollars? is it too much money?
The news is that Warren Buffet is planning to buy big businesses, so that he can put the 38 billion dollars in good use.
I think most people will panic if they were given this much money.
it is easy to think about spending a hundred dollars. Even a thousand dollars is not too much to dispose.
Given ten thousand dollars, we will think of investment.
Our imagination generally stops at the million dollars mark.
38 billion dollars is way out of our imagination.
1 person likes this
@scheng1 (24650)
• Singapore
28 Feb 11
haha Kalav, you pass the problem of having too much money to your husband! That is a great idea!
There is a common saying that the husband job is to make money, and the wife spends money.
I think most people do not have the financial knowledge to handle such a big amount of cash.
@amirev777 (4117)
• India
28 Feb 11
Hi
I dont think too much money can ever be a problem. One can certainly spend as much money as he can and can never get tired of spending it. For those who do not like to spend they can park the excess money in their banks.
@amirev777 (4117)
• India
28 Feb 11
Hi
Yes spending money wisely is also an art. A penny saved is a penny gained they say.
@scheng1 (24650)
• Singapore
28 Feb 11
Hi Amirev, if we only know how to spend money, that is the great problem.
If we spend and spend, then the money is not enough to last in the family for many generations, and we are encouraging our relatives, children and grandchildren to spend and spend also.
That creates more money problems.
That is why the rich people do not overspend. They never get into credit card debt. The fact is that they spend only a small part of what they earn.
Their problem in having too much money is in deciding how to donate to worthy causes and charity.
@scheng1 (24650)
• Singapore
1 Mar 11
Hi Amirev, spending money is definitely an art.
For example, people buy fast food rather than spending money on healthy food. In the end, they are going to fork out more money on medical bills and medication than if they were to eat healthy.
Granted that in some countries, buying fast food is the cheapest option.
However, in the long term they are going to pay more.
@goldeneagle (6745)
• United States
1 Mar 11
If it is, then that is a problem that I would like to have...
@goldeneagle (6745)
• United States
6 Mar 11
If I had a lot of money, I would do my best NOT to let anyone know I had it.
@scheng1 (24650)
• Singapore
6 Mar 11
Hi Goldeneagle, it depends on how you get the money.
If you manage to earn the money as the CEO of a listed company, your income is public information.
Look at the newspaper and you can see how public it is.
Even if the newspaper does not publish the salary, the annual report will show all the details.
@dainy1313 (2370)
• Leon, Mexico
5 Mar 11
I think that false friends would come to me from everywhere... That´s for true... because sadly the most of the people, (we) like rich people, and most of us like to be with the richies. So if I had too much money, I´d would begin asking to myself who are my "real friends". Blessings!... Dainy
@dainy1313 (2370)
• Leon, Mexico
6 Mar 11
Yessssss Scheng1 you are so right! I love your comment, it is so clear to me!! Kind blessings!... Dainy
@scheng1 (24650)
• Singapore
6 Mar 11
Hi Dainy, I think it is very easy to know who are our real friends.
Since we do not have much money now, all our friends are real friends.
They still will be our real friends, as long as we do not become proud due to our possessions.
I think it is common to show more respect for rich people, since they have the means to earn so much, and we do not.
However, I do not think most of us like to be with the rich people.
Most of us do not know how to behave naturally in high class restaurant. Our eating habit simply will do so in that environment.
@garson (884)
• United States
14 Mar 11
Lots of problem nowadays are having less money while they are too much expenses to deal with. Also lots of people are struggling with no or less money to sustain themselves and their family (if they have one). If you are single, you struggle on your own. If you have a family, the troubles compound. So, the problem with too much money is almost non-existent or this kind of problem would go to rich people.
Now I could ask a question back: "How much is considered too much money?" A poor person who usually earns $400 a month can say that $1000 is having too much money.
You touch upon those that act on TV where lots have argued how actors, actresses, and other TV personalities have been overpaid. I don't know how much I can argue with this one. For sure, they would enjoy their lifestyles and also at the same time have problems on their own.
Is greed equal to too much money? Not necessarily. Greed is basically earning money without caring for other people's well-being usually through means of manipulation, fraud, and deception. A famous example is Ponzi scheme. Look up Bernie Madoff.
If I have excess cash, I would be very grateful and feel blessed. It could be from earned income or lottery/sweepstakes winning. I would definitely save some of it and spend some of it. I would definitely enjoy life and help others. Of course, individuals have their own purposes.
@scheng1 (24650)
• Singapore
14 Mar 11
Hi Garson, most of us have the problem of too many expenses and not enough money because of our desire for more things.
It is also due to bad spending habits.
Instead of learning to shop smart, and wait for sales, most of us buy on impulse.
I think many parents do not set a good example in saving money.
That is why the kids have a bad start in life.
If they only know how to spend, and not to save and invest, then life will be very difficult for them.
No matter how much we earn, we will always spend more if we do not exercise self control.
Those rich people always spend within their means, otherwise they will not get rich in the first place.
@garson (884)
• United States
14 Mar 11
You want to be careful when you put 'most of us'. It could mean people you know, a lot of people in a certain country, or most people in this globe. I'm not trying to be too critical here. I agree that 'many people' have desires for more, but I don't believe that many buy on impulse.
@LeighB (700)
• Thailand
28 Feb 11
Most people who have too much money definitely change. They become very greedy, misers, penny pinching and normally end up unhappy as they forget how to live and what life is about. Al their time is spent focusing on increasing their wealth and watching every cent they spend, complaining about the slightest increase in any prices. They become so transfixed on their financial status that friends and family get neglected and all their conversation is only about the stock markets or the price of things. Is this a life I would opt for...No!
If you are one of the small minority that can separate wealth and life, and not allow the money to consume you, then you are always in fear of your loved ones being kidnapped and held to ransom or being invaded by burglers looking for that overloaded safe. To secure your loved ones and self you end up living in a fortified house followed everywhere by body guards and never feeling safe, secure or that you have freedom. Just give me enough for a stress free normal life.
@scheng1 (24650)
• Singapore
1 Mar 11
Hi LeigbB, I agree that some people are like that.
They become so selfish the richer they are. Even though they talk about stock market and all that investment stuff, they are not talking to help others gain knowledge or earn from it.
They are just talking for the sake of showing off their intelligence.
i think these are the ones who can never get truly rich.
The really rich people even write books to teach us about the ways to get rich. People like Warren Buffet, Richard Branson, Donald Trump are all sharing their knowledge through books.
@scheng1 (24650)
• Singapore
3 Mar 11
Hi LeighB, even though we know that the billionaires are making money from their books, we are still grateful that they let us know about their struggles and wisdom in money management.
Persons like Richard Branson are not born rich.
They have to borrow money from friends and relatives and fail a few times to get rich.
I like the part that Richard Branson tried to make illegal money. Just once and he got caught, and never would he make money illegally again.
@chayapathys (2111)
• India
28 Feb 11
Did any one with riches complain that he is not happy with his riches.I think Not.We the poor people imagine that rich people are also not happy.In one sense it is correct that they may not be able to manage with so much riches.First of all let us become rich and we can think of the problems which a rich man faces.I personally feel it is more imaginary than real...
@scheng1 (24650)
• Singapore
1 Mar 11
Hi Chayapathys, the absolute poor really have no bargaining power, and they cannot even choose their work.
I have thought about this, and have written a blog post about no freedom of speech for the poor.
The poor people do not dare to speak out against the abusive boss.
They just do not have the money to quit the job anytime they want.
@scheng1 (24650)
• Singapore
28 Feb 11
Hi Chayapathys, having problems do not mean unhappiness.
Poor people can have so many problems with their work, their house and children, yet they still enjoy life.
Rich people have problems in handling big money too.
The rich people learn to protect their assets from children who are too lazy to work. They put the money in trust fund, so that none of the children can spend all the money, and leave nothing for the future generation.
That is a problem too. It does not mean they are not happy. It just means that they have to find a solution, and keep the wealth within the family.
@chayapathys (2111)
• India
1 Mar 11
Apart from happiness and unhapiness for the rich and the poor the essential difference between the problems of the poor and the problems of the rich is that while the rich can choose the problem out of many they are facing but the poor have no such choice.Think it over and over what I have said.. 
@gianfaye (52)
• Philippines
28 Feb 11
NO. I believe it's not the problem. If I have unlimited cash, I could change the world for the better.
There are many rich people who do good things. Bill Gates for example.
The measurement of how good or bad rich people are shouldn't be based on what the papers say about them.
People shouldn't even judge them because they don't really know the story of their lives. Even if they do, they didn't experience everything those people experienced.
If I get rich overnight (that would be nice), I would start allocating my money for non-profit projects; like a public music university on our country, get all the children out of streets, and teach them how to play the violin. Or teach them how to program.
Well, there are so many things I want to do.
@scheng1 (24650)
• Singapore
1 Mar 11
Hi Gianfaye, if you take a look at Bill Gates, and how he uses his money for charity, you will know what I mean.
Some people tend to complain about everything.
When the rich donates money to help the people in other countries facing disasters, such as Tsunami or earthquake, many people complain that they never spend so much on the poor people in their country.
If they donate too little, then people complain also.
if they donate too much, more people will complain.
If they donate for political reason, then people will say that they are trying to buy politicians or bribe politicians.
The newspaper and internet is full of these kind of nonsense.
That is why giving to charity is really an art.
@scheng1 (24650)
• Singapore
17 Mar 11
Hi Cher, I think theft is the least of the worries by the rich people.
They are more fearful of someone kidnapping their children and other family members. Most rich people do not keep money at home.
They may not even keep much cash.
Most of their wealth are spread across houses, companies and stock and bonds.
They can protect their money but may not even protect their children from the kidnappers.
@daveisdavid (878)
• Singapore
28 Feb 11
Too much money may change the way I work for my life. It will not change my daily expenses overnight. Having too much money is not a problem, it's the greed in mankind that is causing the problem.
@daveisdavid (878)
• Singapore
28 Feb 11
Yeah, you do have a point there. Thanks for enlightening me.
@scheng1 (24650)
• Singapore
28 Feb 11
Hi Daveisdavid, having problem does not mean that we are greedy or bad or stupid or other negative terms.
if you have a billion dollar in cash suddenly, the problem is finding the best way to manage it.
Spending it all is not a good idea.
Giving to your friends and family members is not a good idea too, since it encourages them to be lazy.
Investing is the best way, however how to invest is a problem.
Giving to charity is a good idea, but to give to which charity and give how much is also a big problem.
@scheng1 (24650)
• Singapore
26 Mar 11
Hi Dodo, most of us think of money as our personal savings or family income.
Actually the problem of having too much or too little money is more of a business problem.
For example, if the company is making too little money, and has too much debt, everyone worries about the job.
They can foresee the company going bankrupt, and they may not get their salary when payday comes.
When the company is making good money, they expect the company to pay better bonus. However, their bosses are worried about having too much cash in the bank, and investors asking for better returns.
Moat of us do not handle billion of dollars in our personal life.
We may handle billion of dollars worth of transaction for our companies.
@scheng1 (24650)
• Singapore
27 Feb 11
Hi Zhouxi, I think in your country, those with too much money think of it as a problem, since they have to hide the money.
Having more debt than money is definitely a problem, especially when we do not have enough to buy a place to stay, and need to worry about the rising cost of food and expenses.
1 person likes this
@goodfundadvisor (671)
• India
14 Mar 11
Well.... I do not have too much money... so I do not know.
If someone gives me too much (how much?) money, then maybe I will be able to answer you better.
Why dont you transfer some of your bank balance to my account, maybe I can answer your question with some validity???
@scheng1 (24650)
• Singapore
14 Mar 11
Hi Goodfundadvisor, this discussion is prompted by the news that King Abdullah of Saudi Arabia giving out $37 billion dollars to his people.
Hard to imagine the Saudi royal family having so much money to give out. If they can give out $37 billion dollars, think of how much money they put aside!
Then the next news about Warren Buffet having $38 billion dollars in excess cash in his company.
Since that is a listed company, he has to think of ways to buy more assets to enrich the shareholders.
I think that is really too much money to contemplate.
Even if your boss entrusts you with a few million dollars, and wants you to double the amount in five years' time, you may worry until you cannot sleep.
Imagine those big bankers and brokers handling billion of dollars.
The worst is that it is not their money. Their job is to make money grow, not to spend on buying luxuries for themselves.
@megamatt (14292)
• United States
7 Mar 11
People who have too money tend to get a little cute with how they spend it and that tends to lead to a lot of the problems. And when for whatever reason that money does vanish, they do not really know how to handle it. It is quite the bitter pill to swallow from going to the rich to the poor and it is quite the drop off, quite the culture shock.
Plus there is an amount of stress that comes with having a bit too much money to say the least. You need to keep track of all of those funds, where they are and where you are planning to go with them. That can be a strain even on the most organized person. Even if you hire people to do that, there's really no guarantee that they can be completely trusted. So there are many stresses that do in fact come with having a bit too much money to handle.
@scheng1 (24650)
• Singapore
8 Mar 11
Hi Megamatt, I do believe it is hard for a poor person to adjust to newly acquired riches.
It is even harder for a former rich person to adjust to the standard of a poor person.
I agree that having too much money presents the problem of tracking, and investing the money.
The worst is when family members do not appreciate the effort to safeguard the money, and they trust the wrong persons.
