Ep 88Do you make more than $125,000 a year? You're in the top 10% of the world.Dr. Shloime Zimmerman
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Do you make more than $125,000 a year? You're in the top 10% of the world.
Ep 88He was doing a $500 million deal, and I asked him: why?Dr. Shloime Zimmerman
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He was doing a $500 million deal, and I asked him: why?
Ep 88Very few people at the end of their lives say 'I wish I worked more.'Dr. Shloime Zimmerman
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Very few people at the end of their lives say 'I wish I worked more.'
Ep 88My client was buying a private jet and was frustrated someone had a nicer one.Dr. Shloime Zimmerman
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My client was buying a private jet and was frustrated someone had a nicer one.
Ep 88Why the man giving away $100 million a year wanted lunch with meDr. Shloime Zimmerman
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Why the man giving away $100 million a year wanted lunch with me
Ep 88I hear more about money from my wealthy clients than my poor ones.Dr. Shloime Zimmerman
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I hear more about money from my wealthy clients than my poor ones.
Ep 88One of the biggest value adds you could get from money is to give it away.Dr. Shloime Zimmerman
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One of the biggest value adds you could get from money is to give it away.
Ep 88If an alien opened our Orthodox publications, what would he think our values are?Dr. Shloime Zimmerman
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If an alien opened our Orthodox publications, what would he think our values are?
Try this · top 3
Quotes
“If money is trying to fill a hole, it'll never do it.”
Dr. Shloime Zimmerman
“Money is the most sanctioned drug in the world.”
Dr. Shloime Zimmerman
“Money for many people is connected to mattering.”
Dr. Shloime Zimmerman
“Every gift could be a tremendous curse. It is a tremendous responsibility.”
Dr. Shloime Zimmerman
“Very few people at the end of their lives look back and say, I wish I worked more.”
Dr. Shloime Zimmerman
Takeaways
1 Above the level of paying your bills, more money raises life satisfaction only slightly and does little for happiness or emotional problems.
2 Chasing 'wants' works like a drug: each purchase satisfies briefly, and you need a bigger dose. Very few people ever step off the treadmill.
3 Money addiction is the one addiction society applauds. There is no 12-step program, and the wealthy get little sympathy.
4 His wealthy clients talk about money more than his average-income clients. Money often stands for mattering, winning or proving themselves to family.
5 If money is for safety and security, a steady return is fine. The need for huge returns usually comes from competition, and chasing it with borrowed money can sink people.
6 The healthiest wealthy families see money as a responsibility: God made them the executor to take care of others.
7 Wealth can make people distrust friendships. Their closest friends are often those from before the money.
8 Business can be a shark fight or a place of honesty and integrity - a 'walking kiddush Hashem.'
9 Work isn't an obstacle to spiritual life: earning honestly and giving lifts up the mundane.
10 Jewish media often puts a saintly rabbi next to a $250,000 Pesach program. Kids pick up those mixed messages.
11 Earning over $125K puts you in the top 10% of global earners, yet almost no one feels wealthy. The Torah says the wealthy person is the one happy with what he has.
12 Similar backgrounds help a marriage. Marrying for money or status is like the drug - it doesn't solve real issues.
13 Upbringing shapes spending: his Holocaust-survivor grandparents never paid full price, and early in marriage he and his wife had very different habits. Aim for balance.
14 He found peace in feeling he already has what he needs for his mission.