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Wow, great post!!! This is exactly what I am talking about. It is possible to be rich. You are so right, you and I are proof of it and I agree, people who have that attitude don't want to work or have given up or never believed it was possible in the first place.
This is exactly the reason why Obama's class warfare worked so well. He used anger, jealousy, hopelessness, hatred to get people to attack other Americans instead of doing things that really gave people real hope and possibilities. At the level Obama calls rich, this is the level where people are starting to really make it and he is just dragging them back down and using Americans to help him do it. Even these people are starting to give up.
So yes you could have been rich but it will be much harder now.
My proposal for free markets in housing will give millions of Americans the realistic hope of owning a home, without any government intrusion whatsoever.
Where do we sign up for this job? Many people will gladly do the work for half of what you are paid.
To become better off financially or rich you must teach yourself to think like a rich person.
Schools Do Not Teach Financial Literacy:
Every American has (had) the opportunity but it is up to you to change how you think about money. A good education emphasized but these (government owned) schools do not teach essentials, we are not taught financial literacy and to do well in this world you must understand finance at minimum at a personal level. I wonder why they don't teach such an important subject??
It does take "work and time" to become financially literate and this is exactly what the rich do.
Personal Control:
Personal control of your wealth is developed by understanding your personal Income-Expense ratios and Assets-Liabilities first.
Asset: (Brings money in) A skill that you can exchange for a wage, a business and hopefully built it to be successful, dividends etc
Liability: Expense that takes money out. Many people are under the false belief that their house is an asset but in actuality it is a liability. You pay the mortgage, taxes etc, even when it is paid off it is a liability. This is how so many got into trouble, real-estate always go up right? wrong! But many used their homes as a piggy bank and are now either lost their homes or are underwater.
The Poor:
The poor spend every penny they get and do not buy assets.
Middle Class:
The middle class tends to take on more debt as they become more successful. Their income is spent on current expenses plus paying off liabilities / personal debt (cars, mortgage etc). The middle class borrow from tomorrows income and gets stuck in the "rat race".
The Rich:
The rich keep personal expenses low and they focus on buying assets (things that produce money or a positive cash flow). They will borrow money but it is to buy assets. Rich people work hard and they work smart. To do this you must become financially educated.
For anyone who is buying into Obama theme of attacking the rich, you are not doing yourself any favors and you will remain in the same position, it only keeps you angry, jealous and poor. Obama is keeping you down but don't feel bad, the rich are also under attack in a different way. To wait for the government to take care of you at least to have a better life you will be disapointed. Instead go to the library and read (work) and learn. I know, I was once poor and this is exactly what I did.
You could fight your place in life with attacks and anger all you want but it won't get you anywhere but more of the same. Instead of blaming and attacking, learn to think and work like the rich.
There are many books out there, I suggest Rich Dad Poor Dad by Robert Kiosacki. Pay attention to your finances (income / expenses), get a financial program like quicken to track your finances and set pay off your debt.
Definition of rich varies depending on how much money the person has who is being asked. Some of my friends think that I am rich, I don't. To me rich is when your money works for you and you don't have to work for your money. Some large Corporation CEO's are rich because there is no way anyone is worth 10K an hour.
Exactly. That is my point. Rich is a relative term. I have a good life and I don't want financially. However, I don't own a yacht, nor an island in Hawaii. I work, hard, many hours a week to get what little I have. I'm no better then anyone else. As I said, I grew up on welfare and I am a black man. If I can work and live a decent life, so can anyone else.
No, you can't work your way to the status of uber rich. That part I believe, unless their is some real issue and you rise to the CEO of some sort of company (a Steve Jobs rags to riches story). But you can live a very comfortable life, as long as your willing to work for it.
Define rich? I'm sitting at the Hilton Hotel in Istanbul as I am writing this. This is my third international vacation this year (China and Peru being the last two). Last year I went to Europe for two months straight, the year before that, 5 weeks, and I could go on. I own my home, quite large and expensive for where I live. The car I drive is paid for and, other then my mortgage, I have ZERO debts. I don't own my own company. I am no where near rich and I grew up on welfare. I have no college degree. I work a job which allows me to work overtime and yes, at times, there is ALOT OF it. Many months I only take a day off every two weeks or so; sometimes not even that much.
Most of my friends are envious and the first words out of their mouths are: Where are you going this time? What new toy are you buying? We live vicariously through you.
So, to say you cannot work and make a good life for yourself isn't true. The problem is, the people who say this and have such an attitude, DO NOT want to work for it. They believe they are entitled to it and the "government" should provide all to them, so they don't have too work hard.
Of course the replies will be: Well, you have a job which allows overtime, etc. Many of us do not. My answer to that? I didn't always have a job which allowed it. Or some such other lame excuse. And the excuses will poor in. All except the truth: People won't take personal responsibility for their own lives.
When I was younger, my wife at home with three kids, I worked two jobs, sometimes three jobs to keep my household running. Again, the problem is people don't want to work hard; they want it all handed to them.
This does not apply to all people.
I have a decent career and a wife who works in a career that provides overtime. We live in a nice home in a really nice area and travel. Not as much as you right now but here and there.
In my current career position I could work more - get promoted or start my own practice. Sorry I do not want it- I do not want to work 50-60 hrs a week and weekends, I am not going to commute, and or business travel extensively away from my family, I decided that I make enough money to live comfortably yet still have time to spend with my daughter, play some golf and enjoy life. I do not clamor for anything to be handed to me.
I see my friends and siblings who do the work- they enslave themselves to the blackberrys, laptops and conference calls at all hours of the day-they live in mcmansions and drive luxery automobiles. Yet they complain that they have no time with their family. They miss out on the school plays and little league games. It is so unimpressive to me but Hey if thats what they need to feel important - its all good for them. But their lives are their work and vice versa.
Exactly. That is my point. Rich is a relative term. I have a good life and I don't want financially. However, I don't own a yacht, nor an island in Hawaii. I work, hard, many hours a week to get what little I have. I'm no better then anyone else. As I said, I grew up on welfare and I am a black man. If I can work and live a decent life, so can anyone else.
No, you can't work your way to the status of uber rich. That part I believe, unless their is some real issue and you rise to the CEO of some sort of company (a Steve Jobs rags to riches story). But you can live a very comfortable life, as long as your willing to work for it.
You have a better chance of having a good life if you are willing to work hard for it. There is certainly no guarantee. I worked for a company that went through four mergers and each time there were layoffs. Some of the people that were layed off were slackers others simply lost their jobs because of duplication of jobs.
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