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Old 04-26-2015, 10:31 AM
 
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7 life lessons from the very wealthy - The Washington Post
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Old 04-26-2015, 10:42 AM
 
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Nothing new, live your life and don't buy junk you can't afford
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Old 04-26-2015, 02:14 PM
 
Location: Jacksonville, FL
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Originally Posted by eyeb View Post
Nothing new, live your life and don't buy junk you can't afford
Pretty much. While we can't be considered "wealthy", my wife and I are comfortably secure in that we have enough savings to offset a job loss for several months and no debt. It took a while to get there, but it wasn't all that difficult once we started using a budget and making sure that every penny we made had a purpose before we actually got it. Most of the people I know who live paycheck to paycheck do so because they don't pay attention to their spending and/or keep buying junk they don't need on credit.
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Old 04-26-2015, 04:10 PM
 
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A lot of wealthy people come from already wealthy families who already have pre-existing business connections. Thats the way this country is ran now. Keep the little guy down and keep the Rich, rich.

Its pretty much going the way of Mexico now
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Old 04-26-2015, 04:22 PM
 
Location: Metro Detroit, Michigan
29,823 posts, read 24,908,096 times
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Originally Posted by DorianRo View Post
A lot of wealthy people come from already wealthy families who already have pre-existing business connections. Thats the way this country is ran now. Keep the little guy down and keep the Rich, rich.

Its pretty much going the way of Mexico now
That's why competition is so great. It wipes those kinds of operations out. Unfortunately, some businesses, particularly "too big to fail" types, have connections. Their inefficient model is often subsidized in one fashion or another, usually by tax payers... Which basically means, more debt.
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Old 04-26-2015, 04:28 PM
 
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Originally Posted by DorianRo View Post
A lot of wealthy people come from already wealthy families who already have pre-existing business connections. Thats the way this country is ran now. Keep the little guy down and keep the Rich, rich.

Its pretty much going the way of Mexico now
There's no keeping the little guy down going on, it's just they learn to pass on their wealth to their kids, like my parents will leave me an inheritance that I'll add to my own investments that will get passed to my kids.

What they do is avoid paying taxes/fees/etc that decrease their wealth. But everyone does that so it isn't unique to people with money
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Old 04-26-2015, 05:13 PM
 
Location: Jacksonville, FL
11,143 posts, read 10,711,121 times
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Originally Posted by DorianRo View Post
A lot of wealthy people come from already wealthy families who already have pre-existing business connections. Thats the way this country is ran now. Keep the little guy down and keep the Rich, rich.

Its pretty much going the way of Mexico now
More than 80% of American millionaires are self-made. Stop whining.
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Old 04-27-2015, 06:34 AM
 
Location: Huntsville
6,009 posts, read 6,665,602 times
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Originally Posted by DorianRo View Post
A lot of wealthy people come from already wealthy families who already have pre-existing business connections. Thats the way this country is ran now. Keep the little guy down and keep the Rich, rich.

Its pretty much going the way of Mexico now
No.... that is a cop out used by people who are unwilling to work for something and who would rather see successful people get held back to their level instead of working to get to the level of those people.
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Old 04-27-2015, 07:39 AM
 
Location: Buckeye, AZ
38,936 posts, read 23,894,142 times
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Originally Posted by Nlambert View Post
No.... that is a cop out used by people who are unwilling to work for something and who would rather see successful people get held back to their level instead of working to get to the level of those people.
There is a good number of new money rich, but most are rich because their parents were will perhaps had their parents before them and a good number are at least somewhat inept compared to people without the background and connections. Not everyone is a hard working Vince Jr., Shane or Stephanie McMahon who had to work from the bottom despite their fathers' owning their business, especially for Vince who had to buyout his father and his partners. It is not like say the movie Tommy Boy with Tommy Jr. being an idiot getting the company after Tom Sr. dying of a heart attack.

Last edited by mkpunk; 04-27-2015 at 07:47 AM..
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Old 04-27-2015, 11:41 AM
 
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Originally Posted by mkpunk View Post
There is a good number of new money rich, but most are rich because their parents were will perhaps had their parents before them and a good number are at least somewhat inept compared to people without the background and connections. Not everyone is a hard working Vince Jr., Shane or Stephanie McMahon who had to work from the bottom despite their fathers' owning their business, especially for Vince who had to buyout his father and his partners. It is not like say the movie Tommy Boy with Tommy Jr. being an idiot getting the company after Tom Sr. dying of a heart attack.

Jr. was handed the business by his father Vince Mcmahon Sr. who was already rich. And down the line. No one from Vince MCmahon Jr. Down to his kids are exactly "self-made millionaires"
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