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Old 08-07-2015, 03:10 PM
 
1,820 posts, read 1,654,781 times
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Quote:
Originally Posted by petch751 View Post
Some people could have luck hit them in the face and they'd either be too afraid to take it or they are unprepared. Unbelievable that you are trying to attribute people's success strictly to luck.
Your reading skills have utterly failed you in this instance.
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Old 08-07-2015, 03:12 PM
 
Location: Nashville TN
4,918 posts, read 6,470,242 times
Reputation: 4778
Its hard to feed a family on only 6.9 million- Professional basketball player Josh Smith. Its a tough economy its getting hard out there for a pimp.
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Old 08-07-2015, 03:13 PM
 
106,670 posts, read 108,833,673 times
Reputation: 80159
Quote:
Originally Posted by petch751 View Post
Some people could have luck hit them in the face and they'd either be too afraid to take it or they are unprepared. Unbelievable that you are trying to attribute people's success strictly to luck.
i was almost one of them . as i am sure you heard me say many times , the greatest real estate deal i could ever have wanted presented itself to us with the opportunity to buy in.

night after night my brain , which is pre-programmed by design tried to talk me out of this deal.

it pounded me nightly with all the what if's it didn't work out because we were talking so much money.

finally i didn't listen and we did the deal.

it was just a spectacular venture for us . but believing my own bull-sh#t would have talked me right out of it .
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Old 08-07-2015, 08:49 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,458,447 times
Reputation: 12318
Quote:
Originally Posted by UKWildcat1981 View Post
Its hard to feed a family on only 6.9 million- Professional basketball player Josh Smith. Its a tough economy its getting hard out there for a pimp.
The struggle is real!

I mean have you seen the price of private jets these days?
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Old 08-08-2015, 07:03 AM
 
41,110 posts, read 25,734,548 times
Reputation: 13868
Quote:
Originally Posted by mathjak107 View Post
i was almost one of them . as i am sure you heard me say many times , the greatest real estate deal i could ever have wanted presented itself to us with the opportunity to buy in.

night after night my brain , which is pre-programmed by design tried to talk me out of this deal.

it pounded me nightly with all the what if's it didn't work out because we were talking so much money.

finally i didn't listen and we did the deal.

it was just a spectacular venture for us . but believing my own bull-sh#t would have talked me right out of it .
Yep, luck is playing the lottery and hitting. Looking for opportunity, being able to assess possible opportunity and being prepared to take advantage of that opportunity. Good choices, hard work, smarts, and ability, even people you surround yourself with, even how you are taught to think about money makes a difference. If you are taught that someone else owes you, that government can legislate your prosperity, chances are you won't become rich. Attitude matters very much.

It is documented that the rich and the poor think differently about life and money.
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Old 08-08-2015, 07:12 AM
 
24,832 posts, read 37,344,316 times
Reputation: 11538
Quote:
Originally Posted by petch751 View Post
Yep, luck is playing the lottery and hitting. Looking for opportunity, being able to assess possible opportunity and being prepared to take advantage of that opportunity. Good choices, hard work, smarts, and ability, even people you surround yourself with, even how you are taught to think about money makes a difference. If you are taught that someone else owes you, that government can legislate your prosperity, chances are you won't become rich. Attitude matters very much.

It is documented that the rich and the poor think differently about life and money.
Great post Petch751.

As I have posted before..........I was very poor.........and I got sick of being poor.

We lived in a camper.........yet bought equipment for our business.
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Old 08-08-2015, 07:12 AM
 
106,670 posts, read 108,833,673 times
Reputation: 80159
when you read jason zweigs book your money your brain you learn the human brain is very flawed when it comes to money.

we hate losing money more than making it .

when we think hypothetically we use pretty good reasoning and logic. but modern brain imaging has shown once the stress of real money is on the line totally different portions of our brain get involved in the process.

those parts have very poor logic and will try to put the whammy on you as the fear of losing money showed the same results as being scanned while watching video's of folks vomiting , or stepping in dog crap and smelling it while being scanned.

fear of losing money had matching scans to some of the most repulsive scenario's . but that only happened when real money was put at risk or would be put at risk.

very interesting book , and you learn successful people either don't listen to their brains or are immune to those sectors of the brain coming in to play .
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Old 08-08-2015, 07:30 AM
 
41,110 posts, read 25,734,548 times
Reputation: 13868
Quote:
Originally Posted by mathjak107 View Post
when you read jason zweigs book your money your brain you learn the human brain is very flawed when it comes to money.

we hate losing money more than making it .

when we think hypothetically we use pretty good reasoning and logic. but modern brain imaging has shown once the stress of real money is on the line totally different portions of our brain get involved in the process.

those parts have very poor logic and will try to put the whammy on you as the fear of losing money showed the same results as being scanned while watching video's of folks vomiting , or stepping in dog crap and smelling it while being scanned.

fear of losing money had matching scans to some of the most repulsive scenario's . but that only happened when real money was put at risk or would be put at risk.

very interesting book , and you learn successful people either don't listen to their brains or are immune to those sectors of the brain coming in to play .
Good point, and I've shortly scanned a book that talked about that. That's why people save money in low interest savings account giving into the fear of losing money instead of risking it to make more money. We turn down opportunities to avoid the risk of losing something (money). Loss aversion is a much more accurate indicator of risk tolerance.
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Old 08-08-2015, 07:37 AM
 
41,110 posts, read 25,734,548 times
Reputation: 13868
If we believe that wealth comes from working hard, taking great personal risk and coming up with great ideas, then the wealthy don't necessarily "owe" society for their success.

But if the rich are simply lucky, or if they get wealthy on the back of America's publicly funded infrastructure, they owe more of a debt in the form of taxes or philanthropy.

Major Barbara (and the left) is trying to instill that people are rich because they are lucky. Are people willing to hand their fate over to HOPING they get lucky (outside forces) or will they take their fate into their own hands.
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Old 08-08-2015, 07:45 AM
 
41,110 posts, read 25,734,548 times
Reputation: 13868
Quote:
Originally Posted by Major Barbara View Post
Quite honestly, the Ozymandias-like conceit of thinking "I did all this" is something I don't even rarely see.
Can luck make a poor person just wake up one day and have the riches of Bill Gates. I don’t think so unless you hit the lottery and the chances of that are?

Let’s be real, when people think of the word luck, they relate it to getting something for nothing. They view luck as a magical phenomenon that strikes when it wants to and is not under anyone’s control.
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