A good cause is in a better position if it is before a judge than before an arbitrator, because the words of the law tie down a judge and define certain limits beyond which he may not pass, whereas the conscience of an arbitrator is free and not fitted by any rules, so that he can either give or take away, and can arrange his decision, not according to the precepts of law and justice, but just as his own kindly feeling or compassion may prompt him. – Seneca
There is a difference between being rich or wealthy. It is still needed for the rich to convert their cash flow coming from business into tangible assets that will generate more cash flow. The focus on assets till the point of the cash flow is greater than the living expenses. Consider business as an asset that generates income and operates without much physical input.
Definition of wealth
- The number of survival days without physically working
- Measured in time – not $
- How long that money works for you
- Still, maintain the standard of living
- It is how much money you keep
No law defines an ungrateful person, often, indeed, one who repays what he has received is ungrateful, and one who has not returned it is grateful. […] When, however, motives have to be guessed at, when matters upon which wisdom alone can decide, are brought into court, they cannot be tried by a judge taken at random from the list of “select judges”, whom property and the inheritance of an equestrian fortune has placed upon the roll. – Seneca
There are some things which injure those who receive them, things which it is not a benefit to give but to withhold ( M16 for an example) ; we should therefore consider the usefulness of our gift rather than the wish of the petitioner to receive it; for we often long for hurtful things, and are unable to discern how ruinous they are, because our judgment is biased by our feelings; when however, the longing is past, when that frenzied impulse which masters our good sense has passed away, we abhor those who have given us hurtful gifts. – Seneca
Red-Line Finances
- Stress caused by working hard and never having enough money
- The trouble with operating a car engine at redline is that the life expectancy of the engine is shortened
- The same is true with operating finances at Redline
Our friends often give us what our enemies wish us receive. We are driven by the unseasonable fondness of the former into the ruin which the latter hopes will befall us. Yet, often as it is the case, what can be more shameful than that there should be no difference between a benefit and hatred? – Seneca