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Read "Secrets of the Millionaire Mind" by T. Harv Ecker. The comments like the rich get richer, poor get poorer; rich people are holding the poor people down, etc. are comments made by people with a poor mentality. No matter how hard these people work, they will never be rich because they are programmed to be poor and will always follow a path that keeps them poor. It's a victim mindset and gives poor people someone other than themselves to blame for their financial situation.
Yawn. If only it really were that simple, everybody would just go out and be the next Bill Gates or Mark Zuckerberg wouldn't they? As if 1%'er levels of intelligence, the right connections only available to the select few, and outrageous amounts of luck have nothing to do with it. Hard work and the right mentality won't make most people multimillionaires, sorry. "Comfortable" or "moderately successful" is the best most people can hope for, which is much better than nothing I'll admit.
You know those books like Rich Dad Poor Dad and 4 Hour Work Week are total crap written by morons for the deluded and impressionable (and greedy) masses don't you?
This entire thread is silly. Seriously, does anyone actually think the OP's post has any value or this discussion is meaningful? Generating wealth has no secret. Just determination and dicipline.
You must understand that wealth is unlimited. The tree of wealth can be planted by anyone but you must remember that the tree of wealth only grows with the sweat that drips from head!
Have you ever heard this saying? The rich get richer and the poor get poorer. Its completely false in a classical sense. Its actually the opposite. When the rich get richer the poor get richer as well. Why? Because as people get richer more goods and services are produced. This means more products and services to be consumed. As a result, EVERYONE'S standard of living rises.
Now I say this is false in a classical sense because it only holds true IF the rich get richer by producing more goods and services. If they are getting richer by STEALING (ie. taking subsidies, bailouts etc). then the rich only get richer at the expense of the poor.
Likewise, MONEY is NOT wealth. It is merely a tool to be exchanged for the goods and services of others. Money only has value because men create goods and services and sell them for money. Money is simply a tool to exchange value for value in the forms of goods and services. The intrinsic value of money is nothing.
Anyways, thats the secret to being wealthy. You must understand that wealth is unlimited and can be created by anyone but it requires lots of hard work to create such wealth.
You must understand that wealth is unlimited. The tree of wealth can be planted by anyone but you must remember that the tree of wealth only grows with the sweat that drips from head!
Have you ever heard this saying? The rich get richer and the poor get poorer. Its completely false in a classical sense. Its actually the opposite. When the rich get richer the poor get richer as well. Why? Because as people get richer more goods and services are produced. This means more products and services to be consumed. As a result, EVERYONE'S standard of living rises.
Now I say this is false in a classical sense because it only holds true IF the rich get richer by producing more goods and services. If they are getting richer by STEALING (ie. taking subsidies, bailouts etc). then the rich only get richer at the expense of the poor.
Likewise, MONEY is NOT wealth. It is merely a tool to be exchanged for the goods and services of others. Money only has value because men create goods and services and sell them for money. Money is simply a tool to exchange value for value in the forms of goods and services. The intrinsic value of money is nothing.
Anyways, thats the secret to being wealthy. You must understand that wealth is unlimited and can be created by anyone but it requires lots of hard work to create such wealth.
The poor get richer ONLY if they own their home or otherwise are protected from rent inflation. Back in the 80s, people got richer, housing rents soared, and after paying the exoribitant rent, I because worse off.
i disagree with the having to own a home part. its not actually needed that you buy a home...
let me ask you this. suppose im a renter. lets suppose instead of buying my own house i bought the house next door and rented it out for more money than im paying in rent. am i at a disadvantage for renting ?
of course not.
now suppose instead of buying the house next door i bought other asset classes that generated even a larger gain. it allowed me to pay my rent and even have spending money left over. am i add a disadvantage because im renting?
of couse not.
it has nothing to do with having to buy a home. it only has to do with buying any appreciating asset that can cover the rent increases over time..
here in nyc if i didnt buy my house but rented it instead and invested elsewhere i would have made enough in my simple mix of fidelity funds to subtract out decades of rent and buy 2 houses today.
Last edited by mathjak107; 04-30-2011 at 03:50 AM..
Make yourself valuable, work hard, spend wisely. The only way to increase wealth is to SPEND LESS THAN YOU EARN. Only 2 variables there. Work on increasing what you earn or decreasing what you spend. Or blame everyone else for your inability to do that and stay poor for the rest of your lives. It really is that simple.
1. Have the brains and work ethic to absolve an in-demand business study at a top school and work your way up. Work a lot of hours, deliver stellar results, and get to that corner office. Become a top CEO of some company, a partner in a hedge fund or law firm, or some top administrator in some prestigious institution.
2. Have the even greater brains to come up with a significant invention that you can turn into a lucrative venture capital-funded startup and eventually a massive business - like Bill Gates or the Google guys.
3. Have the talent and luck to work your way up to being an in-demand entertainer or top athelete - like one of the mega pop stars out there, a movie star, or a star quarterback.
Can't do any of those? Then you won't really be rich in the current relative financial spectrum that exists in this country. And you're not going to get there with cheesy little cliches on internet forums. You may manage to be comfortable enough middle class / upper middle class, though.
Make yourself valuable, work hard, spend wisely. The only way to increase wealth is to SPEND LESS THAN YOU EARN. Only 2 variables there. Work on increasing what you earn or decreasing what you spend. Or blame everyone else for your inability to do that and stay poor for the rest of your lives. It really is that simple.
All the frugality in the world won't make you wealthy on a minimum wage/poverty level income.
You must understand that wealth is unlimited. The tree of wealth can be planted by anyone but you must remember that the tree of wealth only grows with the sweat that drips from head!
Have you ever heard this saying? The rich get richer and the poor get poorer. Its completely false in a classical sense. Its actually the opposite. When the rich get richer the poor get richer as well. Why? Because as people get richer more goods and services are produced. This means more products and services to be consumed. As a result, EVERYONE'S standard of living rises.
Now I say this is false in a classical sense because it only holds true IF the rich get richer by producing more goods and services. If they are getting richer by STEALING (ie. taking subsidies, bailouts etc). then the rich only get richer at the expense of the poor.
Likewise, MONEY is NOT wealth. It is merely a tool to be exchanged for the goods and services of others. Money only has value because men create goods and services and sell them for money. Money is simply a tool to exchange value for value in the forms of goods and services. The intrinsic value of money is nothing.
Anyways, thats the secret to being wealthy. You must understand that wealth is unlimited and can be created by anyone but it requires lots of hard work to create such wealth.
????
When you can take the pebble from my hand, you can leave....
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