Wealth Transparency

by James & Miel on May 24, 2007 · 0 comments


Last weekend my mind got to wandering at a crab shack on the Eastern Shore of Maryland. I got to thinking about how interesting it would if finances were more transparent. Given social norms, finances are one of those things that we deal with each and every day, with quite a variety of people, but we still keep so much disclosed in the process.

Think about it, we buy things at the grocery store, go out to lunch, buy stocks, pay mortgages, get paid, all in a process that is largely void of any real transparency. For instance, we all have an idea of what our friends attitudes are towards going out, shopping, travel, etc. Yet while we divulge quite a bit of information in a variety of ways, few people would adequately be able to access someones financial circumstances in their entirety. There are always bound to be dirty secrets, hidden treasures, or surprises you wouldn’t presume to encounter.

While the reality is that opaqueness will continue to remain the norm, it would be interesting if we had the ability to see further into the financial lives of others to better understand how people tick.

So my question to our readers is:
a) Do you see your friends and family as being transparent in their general financial situation?
b) Do you keep financial secrets, good or bad, from your friends and family?
c) Do you attempt to keep secrets from yourself?

Looking forward to seeing your comments!

Miel



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