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Old 10-21-2011, 06:51 AM
 
12,439 posts, read 10,289,005 times
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Quote:
Originally Posted by ringwise View Post
Of course. Because facts should never get in the way of ideology.
No because Idiots should never get in the way of my time. I am being charitable with your post.
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Old 10-21-2011, 06:52 AM
 
Location: Londonderry, NH
41,505 posts, read 51,269,072 times
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Working hard, living frugally and investing should eventually make you rich. More than likely you will wind up worn out, with few possessions and dead broke because your investment advisor put you in the wrong stocks and the market went through another "readjustment".
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Old 10-21-2011, 07:01 AM
 
2,721 posts, read 3,738,241 times
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Quote:
Originally Posted by wildbill80 View Post
That's probably the biggest truth to the matter. There's no guarantee of riches even if you are smart and work your ass off. There is, however, a guarantee of failure if you never try in the first place.

I brought up how things worked out in Bill Gates' favor to get him to where he is today, but he still had to put in the work. If you put somebody in Gates' exact situation but instead of hacking away at a computer they ditched school to go get high, they are most assuredly going to go on to be a failure because they squandered away their opportunities.
Very true. But it silly for some people to assume on this thread that if they worked as hard as Gates, they would be as rich as him. Luck definitely comes into play for the super rich. By their premise Bill Gates must be the hardest working person in the world (after all, he has the most money)...

It is a combination of hard work + intelligence + luck that makes someone super rich
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Old 10-21-2011, 08:16 AM
 
3,402 posts, read 4,301,701 times
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Quote:
Originally Posted by freemkt View Post
It does have a lot to do with how much money you make. All the frugality and doing-the-right-thing-with-money is not going to make a lifetime burger flipper rich.
Not if they are determined to be a life time burger flipper.
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Old 10-21-2011, 08:18 AM
 
3,402 posts, read 4,301,701 times
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Quote:
Originally Posted by hotair2 View Post
No because Idiots should never get in the way of my time. I am being charitable with your post.
If you feel that way, why are you on City Data at all?
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Old 10-21-2011, 08:19 AM
 
3,402 posts, read 4,301,701 times
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Quote:
Originally Posted by GregW View Post
Working hard, living frugally and investing should eventually make you rich. More than likely you will wind up worn out, with few possessions and dead broke because your investment advisor put you in the wrong stocks and the market went through another "readjustment".
I think letting someone else decide where to invest your money is a mistake a lot of people make.
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Old 10-21-2011, 08:43 AM
 
20,978 posts, read 16,227,961 times
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Quote:
Originally Posted by hotair2 View Post
So all of your friends are rich, and the ones that are not it is their fault?
Absolutely, yes.

Either by choice or ability (or lack thereof).
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Old 10-21-2011, 08:47 AM
 
20,978 posts, read 16,227,961 times
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Quote:
Originally Posted by freemkt View Post
It does have a lot to do with how much money you make. All the frugality and doing-the-right-thing-with-money is not going to make a lifetime burger flipper rich.
There was a man in Philly who was a corner pretzel vendor for 40 years.

He paid cash to send his children to college and died with a few million in assets.

It's all about the decisions that you make.

Nothing is a powerful as compound interest!
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Old 10-21-2011, 08:47 AM
 
12,439 posts, read 10,289,005 times
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Quote:
Originally Posted by Nocontengencies View Post
If you feel that way, why are you on City Data at all?
I don't consider all posters on CD idiots. Carry on.
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Old 10-21-2011, 08:50 AM
 
20,978 posts, read 16,227,961 times
Reputation: 10270
Quote:
Originally Posted by freemkt View Post
It doesn't matter how smart you are if you have no money - without money you're not going to pick up deals.
Where there's a will, there's a way.

Did you see the kid (20 something) who started out on ebay with a used cell phone and traded up several dozen times to a BMW valued at $10,000?

He started with next to nothing.

That's how many wealthy people have done it.

The trouble with most people is that they refuse to put in the effort.
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