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Old 06-22-2019, 09:34 AM
 
Location: southern california
55,634 posts, read 74,577,828 times
Reputation: 48121

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Quote:
Originally Posted by luv4horses View Post
But if you start from nothing and eventually become one of the top 10% you probably had at least one lucky event that put you on the move. Wouldn't you agree? Just one lucky, and maybe hoped for but unexpectedly lucky break.
To say I did not get any breaks along the way would be false -breaks come along in every bodies life but how many see them and pick them up
You would be amazed at the answer
The luck god did not get me here- persistence and availing myself of the opportunities before me did- many years I would seem to be stalemated and dead ended -it was then I needed most not to yield to discouragement

Last edited by Huckleberry3911948; 06-22-2019 at 09:52 AM..
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Old 06-22-2019, 09:35 AM
 
Location: East Coast of the United States
17,219 posts, read 19,521,254 times
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People don't complain because the rich are getting all the gains.

People complain because they are not among the rich getting all the gains.

Have to read between the lines to figure that one out.
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Old 06-22-2019, 09:53 AM
 
527 posts, read 616,303 times
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Quote:
Originally Posted by petch751 View Post
To get rich you need seed money or the ability to borrow at low interest rates, then need to invest wisely.

The problem that keeps people down is the more yearly income you make it can kick you into a higher tax bracket (all that OT only for it the gov't to take a higher %). Instead, do as the rich do... tax planning to reduce taxable income keeping more of your money.

When a politician tells you that they are going to make "the rich pay their fair share", they know the people don't know any better. The rich know that you can't get rich by giving your money away so they plan and make moves to reduce taxable income while the other classes work away, some working more to make more only to find that the upper portion of the money they earned is now taxed higher.

The rich are better at tax planning than the middle or poor classes and that's why when they say tax the rich the result is usually hurts the middle class.
The random joes you see on the street or random places like Facebook that the rich should be taxed more are being stupid because they don't know any better. The rich don't get taxed W2 wages when they get to that level. They are making money from real estate and the like and there are legal ways where you don't have to pay taxes. It's why Trump doesn't release his tax returns. It's also why the rich leverage debt to become even richer and use legal IRS with accounts and lawyers to avoid heavy taxes.

It why it is easier to make $1M to $2M than it is $0 to $1M.

When my W2 income swell to well into the six figures (after years and years of rejection) it became a lot easier to level assets with debt to get into real estate. Now I am to the point where my wealth can grow yearly. Eventually my passive income will surpass my W2 wages.

People can go from $0 to whatever goal they want, but it will never be easy.
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Old 06-22-2019, 09:56 AM
 
71,459 posts, read 71,629,249 times
Reputation: 49021
Quote:
Originally Posted by luv4horses View Post
But if you start from nothing and eventually become one of the top 10% you probably had at least one lucky event that put you on the move. Wouldn't you agree? Just one lucky, and maybe hoped for but unexpectedly lucky break.
Success is where luck drive and skill meet with some planning
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Old 06-22-2019, 09:57 AM
 
527 posts, read 616,303 times
Reputation: 779
Quote:
Originally Posted by luv4horses View Post
But if you start from nothing and eventually become one of the top 10% you probably had at least one lucky event that put you on the move. Wouldn't you agree? Just one lucky, and maybe hoped for but unexpectedly lucky break.
I didn't get "lucky" for what I have done, but my persistence on a daily basis of wanting to push me towards my goals has allowed me to break through the hell. I don't know about the person that you were post to, but in my experience you can lack the luck but persistence can put you into position to break through by being there when opportunity opens up. Being passive doesn't get you through the wall to the other side.
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Old 06-22-2019, 10:34 AM
 
Location: southern california
55,634 posts, read 74,577,828 times
Reputation: 48121
It’s about decision making every morning I try to make 2 or 3 good decisions and stick with it that is how I Got where I am -it can turn an ocean liner around -
Poor people -and I was one of them -consistently made bad decisions
Pointing that out to them makes them very angry - me included -at that time of my life
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Old 06-22-2019, 10:56 AM
 
71,459 posts, read 71,629,249 times
Reputation: 49021
if you think poor , you will stay poor

thinking poor is posting and reading all these how badly supposedly everyone is doing articles . thinking not poor is frequenting forums with lots of successful people who talk numbers and actions they took and trying to figure out how, if at all it can help you .
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Old 06-22-2019, 11:22 AM
 
Location: The South
5,211 posts, read 3,627,108 times
Reputation: 7886
Quote:
Originally Posted by NewbieHere View Post
I donít even pick up a penny anymore. Itís dirty money.
I do, always have, alway will.
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Old 06-22-2019, 11:50 AM
 
Location: In a vehicle.
5,020 posts, read 3,207,482 times
Reputation: 8203
Frankly, the rich also pay more in taxes than any of us ever will.

Top 1% pay 70% of taxes.
Top 10% pay 90% of the taxes.
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Old 06-22-2019, 12:23 PM
 
12,704 posts, read 9,959,474 times
Reputation: 9515
Quote:
Originally Posted by RationalExpectations View Post
Do the rich get all the gains?
All the gains from what? The answer to your question depends on what you mean by "all the gains".

Quote:
Originally Posted by RationalExpectations View Post
Are the rich getting richer at the expense of the poor?
To a degree, in some phases of the market cycles, yes. But some market events can make the rich poorer, as I'm sure a lot of real estate multi-millionaires and banker billionaires learned in 2008.

There is a lot of nuance, and a lot depends on what you mean, it is not a blanket yes or no answer.
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