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While I do agree that people should take account for their own actions, I think there is something to be said about compassion that builds a better nation especially for those who weren't born into money or the best situation.
Haven't you heard ? There is only one set of experiences, everyone is on absolutely equal footing, all have an equal chances to do anything at all but some people are just lazy and looking for "hand-outs." What was the phrase ? Oh, yes. "Survival of the fittest."
While I do agree that people should take account for their own actions, I think there is something to be said about compassion that builds a better nation especially for those who weren't born into money or the best situation.
You don't need to be born into money to be successful. That's a myth. Certainly it helps, without a doubt but to say that you can not be successful if you didn't have wealthy parents is totally wrong.
To be rich and stay rich you must have a certain level of FINANCIAL education to make your money work for you instead of YOU working for money. Look at how many lotto winners lose it all within a few years. Thats because they have a poor financial education. Unfortunately financial education is not taught in schools (on purpose by the powers that be) because in their view...in order to have a successful economy, you need workers, workers, and more workers, working for somebody, the economy doesn't need 50 million bosses. So the educational system purposely feeds you enough education and information for you to be a smart enough worker, but not smart enough to manage your money and become your own boss.
Now knowing how the educational system is rigged to make you an employee, one needs to take it upon themselves to seek financial education by googling seminars or coarses that are out there so you can enroll in one.
Someone taking charge of their life does the above and are or become the so called 1% while the others look in the sidelines, complain how bad they got it, how rich people are evil, and how the government should help them out financially simply because they don't have the desire or the will to put in the work required to get to that level.
You don't need to be born into money to be successful. That's a myth. Certainly it helps, without a doubt but to say that you can not be successful if you didn't have wealthy parents is totally wrong.
To be rich and stay rich you must have a certain level of FINANCIAL education to make your money work for you instead of YOU working for money. Look at how many lotto winners lose it all within a few years. Thats because they have a poor financial education. Unfortunately financial education is not taught in schools (on purpose by the powers that be) because in their view...in order to have a successful economy, you need workers, workers, and more workers, working for somebody, the economy doesn't need 50 million bosses. So the educational system purposely feeds you enough education and information for you to be a smart enough worker, but not smart enough to manage your money and become your own boss.
Now knowing how the educational system is rigged to make you an employee, one needs to take it upon themselves to seek financial education by googling seminars or coarses that are out there so you can enroll in one.
Someone taking charge of their life does the above and are or become the so called 1% while the others look in the sidelines, complain how bad they got it, how rich people are evil, and how the government should help them out financially simply because they don't have the desire or the will to put in the work required to get to that level.
I did not say that you can't be wealthy if you don't have wealthy parents. However, in this country, whatever class your parents were in at the time you're born is most likely the class you'll remain in. Class mobility in America is very low compared to European countries aside the UK. While I agree that education is one of the most important things needed to succeed, it's not that cut and dry at all. Luck and knowing the right people have just as much influence on a person's outcome as does education. Especially for the low-income people you condemn, not only they have the disadvantage being born in poor neighborhoods with horrible educational schools and not much resources, it's typical for a good number of them not knowing how to network themselves because they don't know the right people. There are are working people who take charge for their lives everyday and the reason many working class are angry is because they've been responsible for most, if not all, of their lives & if they're in a dire situation, they will be left to fend for themselves. However, if someone in the upper class f--ks up, they only get a tap on the hand. Having the will and desire to get to that level does a part, but luck and equal opportunities that are available are just as important.
It is FAR easy to make money the OLD FASHIONED WAY: INHERIT IT.
BTW, it is those who inherited their wealth who promulgate the bull**** about "pulling yourself up by your own bootstraps."
Yes, you can start your own successful business, althought the odds a FAR against you or you can win the lottery. But people like this are mere window dressing. REAL economic power in the United States is pretty much passed from parent to child.
Women still have a small shot at real new wealth...by marrying it.
thats not true at all. what is true is wealth is created from capital gains not our salarys.
i grew up in the woodside housing project and had nothing . i learned early on while going to college about starting young and investing what little money i made working part time. i spent all my time learning about investing .
over time that grew to a point that let me have a down payment for my first investment property. flipped that into more money as it appreciated and never stopped the process.
before 50 years old i saved my first million . lost 1/2 of it in a divorce and did it again in a few years.
while i remarried a few years ago and my current wife was part of a family real estate business it had no bearing on how far i came by myself. its all about learning and having the drive and motivation to succed.
time can make everyone a winner if you start early enough and just keep comounding those capital gains. the smallest gains get magnified big time over long periods of time.
the same people can usually go from pennyless to millionaire and as fast as they lost it do it all over again.
the problem is most folks know more about their car or refrigerator than anything financial in their lives and they dont care to learn. then they blame everything and everyone for their own financial suicide.
im not the smartest investor around but i stick to my plan and strategy no matter what and that in itself has turned some poor investments into profitable ones.
for someone who hasnt worked one day in the financial world i have had stories about me in money magazine, fidelity investment magazine and serve as a non staff consultant for the wall street journal.
its pretty scarey since in the scheme of things im still pretty dumb.
Last edited by mathjak107; 12-18-2011 at 07:19 AM..
Thank God the city is no longer taking new section 8 tenants and expanding the program. If there were ever a silver lining to this recession, its the lack of money to fund these entitlement "hand-out" programs.
I'm hoping the GOP eliminates HUD that's one agency that needs to go. The Dept of the Interior can handle disposing of Hud Homes.
laugh all you want but the fact is i still did better than 98 or 99% of americans all alone and did so before even meeting her. . how many of you can can make that claim? i think the number of millionaires in america today not counting the home they live in is about 1 or 2% of the entire population.
i dont mind talking about my personal life. its already splattered in magazines and the internet over on the cnn web site. i always figure if it motavates even a few into trying to learn and do better financially then its worth it.
most of the magazines that did stories wanted to interview me because i did it all alone and really started with zero. couple that with no formal training and not exceptionally bright and you got a story that anyone can duplicate with effort and luck..
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