How to join the 1%

Screen Shot 2015-10-04 at 12.33.35Theodore Dalrymple answers your questions

Should we wish to be of the 1%?

Wealth as such is not a very elevated aim in life.

What about you, Doctor?

I have never made it my principal aim or goal.

To have a sufficiency, though, is both necessary and gratifying, is it not?

A degree of prosperity is at least some evidence of worldly success — an imprimatur as it were, to which I have never been quite as indifferent as perhaps I ought to have been.

Do you feel wealthy?

Not enough to feel that a new car would not be an unwise extravagance if it were unnecessary.

What do you look for when buying a car?

My main desideratum is that it should start first time in the depths of winter. For many years I owned cars that could not be relied upon to do so.

How did you get into the 1%?

My wife and I lived well below our income for more than 20 years and invested the rest under the guidance of an adviser.

What criteria did you apply in selecting this adviser?

I had no real evidence of his superior financial wisdom, other than that I liked him.

Does such wisdom exist?

I am not convinced that it does.

How would you rate your own judgment in financial matters?

Let me admit that if I had had the misfortune to meet Mr Madoff before his scheme was exposed, I should have trusted him implicitly. He had such a trustworthy face.

What is your pattern of consumption and mode of life?

It does not differ conspicuously from those of many of my peers, except in so far as I have no television and buy many more books than most.

What do you fear?

To be poor — and to end up in the hands of the State, whose charity is simultaneously patronising and heartless, rule-ridden and capricious.

 

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