If I’m reading this correctly, one should identify an optimal rate of spend, acquire as many multiples of that rate as possible, and invest everything above it.
I conceive of needs using the a ‘STIMS’ concept. Everyone needs shelter, transportation, income, medical, and social engagement for themselves and their dependents. I class things like servants to ‘buy back’ your time as ‘social’.
I wonder what the numbers for all of those that hit the point of diminishing returns are. Arguably, thanks to veblen goods, social can really grow without limit, and medical at the extreme end can probably get pretty high (100 million dollar endowments for a family member’s medical condition a la ron perelman)
Got anything on optimal rates of annual spending?
If I’m reading this correctly, one should identify an optimal rate of spend, acquire as many multiples of that rate as possible, and invest everything above it.
I conceive of needs using the a ‘STIMS’ concept. Everyone needs shelter, transportation, income, medical, and social engagement for themselves and their dependents. I class things like servants to ‘buy back’ your time as ‘social’.
I wonder what the numbers for all of those that hit the point of diminishing returns are. Arguably, thanks to veblen goods, social can really grow without limit, and medical at the extreme end can probably get pretty high (100 million dollar endowments for a family member’s medical condition a la ron perelman)