Sunday, August 12, 2007

Spreading Wealth Like a Virus

Researchers have proved that weight gain is actually contagious, and spreads from friends and family members to unsuspecting friends and family members. The study, which took place over thirty years, found the strongest correlation between the weight gain of friends. In fact, the study found that if a close friend gains weight, it actually increases our chances of gaining weight by 171%. Therefore, the study concluded, obesity can spread like a virus, from person to person, close friend to close friend.

This immediately brought into my mind the following question: if obesity can spread from person to person, does that mean that wealth can spread from person to person? Can wealth spread like a virus? Can the habits of wealthy friends rub off on less wealthy friends? Can the Rich teach the Not Rich how to build wealth?

I then examined what I will call my core group of close friends, that is, friends whom I have remained close with and in very regular contact with (meeting with socially at least once a week) for 5 years or longer. What I found was that we all have very similar balance sheets: we all happen to have a little more financial success than average, and enjoy approximately the same standard of living. (As a side not, I’d estimate that each of the two sexes fall within a 20-pound weight range at most.)

So this raises the question: If I were to make wealthier friends, would I become wealthier? Would I learn habits and about options that would lead me to greater wealth? I suspect the answer is yes. Does this mean that I am going to go out tomorrow and make all new friends and drop all of my good old friends? Of course not, but I do have friends whom I don't see as regularly, that for whatever reason I have not brought into my core group of close friends, that are much more successful than me and whom I could benefit from knowing. They may even teach me some things that could make me richer.

It turns out my father was right, "be careful who you choose as friends, you will become what they are." It just never occurred to me to use this as an advantage.

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