Are there any millionaires.... (account, wealthy, cancel, determine)
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How did we end up from "how did you become a millionaire" to "how many children should people have and why do people in impoverished nations have so many kids and do you like kids, oh, and I have 3 myself..." ?
People not familiar with handling money in our culture may be unaware that for each child that you have the IRS gives you Deductions and Exemptions.
These can serve to further shelter your taxable income from taxation.
To keep a prudent household from paying taxes.
While you may not always be able to control how much money you bring in; you can control how much money you give away.
The less that you give to the government, the more that remains in your pocket for investment purposes.
And of course that the Bible commands us to Re-Populate the earth.
'The Millionaire Next Door' spends a great deal of pages discussing households and the selection of a good spouse. These are not single people. The economics of a single person household are far more difficult to maintain in growth. Whereas a household of many is much easier to establish growth.
unless your poor and need workers for the fields, there is no reason to have that many children. and if you have 5 children you can't complain about having no money. they didn't all just show up.
I agree. Having that many children is just obscene.
Millions of dollars aren't what they used to be, that's for sure. Being a millionaire in California just means owning a home
I agree. Having that many children is just obscene.
Millions of dollars aren't what they used to be, that's for sure. Being a millionaire in California just means owning a home
Who are you to say that's obsene? If you can afford it I say go for it. Too many affluent people have fewer kids because of "sensibilities" and worry about the future of the planet. And too many poor people on welfare pop out kids like it's nothing.
unless your poor and need workers for the fields, there is no reason to have that many children. and if you have 5 children you can't complain about having no money. they didn't all just show up.
I bet your parents wish they had had one lesss!!!! You must be proud. Did you ever figure out how YOU got here?
'The Millionaire Next Door' spends a great deal of pages discussing households and the selection of a good spouse. These are not single people. The economics of a single person household are far more difficult to maintain in growth. Whereas a household of many is much easier to establish growth.
True. Economic growth is predicated on population growth. From Econ 101:
GDP = consumption + gross investment + government spending + (exports − imports), or,
GDP = C + I + G + (X-M).
Consumption accounts for 70% of GDP. There won't be consumption if there are no consumers. If human population is stagnant or declining, economic growth will also decline. In this sense, children are true financial assets.
I will not say exactly how much I am worth, but it is in the eight-figure range, and I'd be happy to tell you how I did it before age 30.
I started a small sheet metal fabrication plant in the west suburbs of Chicago at age twenty, after I left college. I brought in an annual revenue of about $12 million with a 35% profit margin by my sixth business year. By then I had enough money put away to buy out another sheet metal fabrication business, I built that up and had a merger, I repeated that process two times before I turned twenty-eight. By then our revenue was about $30 million annually.
Then I decided to create other branches of my company, mainly R&D so far, so I bought out small research companies, sewed them together, and created another multi-million dollar income source. I now live in the city of Chicago and live a luxurious and relaxed life. I do, however, somewhat regret spending the best years of my life, cooped up in an office more stressed than most people can imagine. I'm now 34 and have and annual income upside of seven figures, and have recently decided to go back to college, to get a degree in architecture.
Believe me when I say, if you have a dream, you can accomplish it, but there will be some regret later in life if you try to rush it like I did.
Well JDR, first of all, since you are a millionaire, HELLO!!!(waves). Second of all, what a sob story! I'd rather be in your shoes than mine, put it that way. Fact of matter is many of us would....Wahaaaaaaa, im a millionaire at 34 but single and no kids, waaaaaaaaahhhhhh, I can't find anyone, waaaaahhhh....i have to work 60 hours, waaaahhhhh, cmon man, where's your intestinal fortitude...be glad, be happy you got what you got, you will have no problems finding someone who cares about you well unless you are super geek but you have your bank account to fall back on. Fact of matter is that I know people, including myself who regulargy work 50-60 hours/week with income much much less than yours...that is the norm in the business world these days whethere you are millionaire or not. You should be happy my friend, really.
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