Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-11-2011, 09:25 AM
 
Location: Dallas
31,290 posts, read 20,718,309 times
Reputation: 9325

Advertisements

Quote:
Originally Posted by EinsteinsGhost View Post
Have you tried?

Yes, and got there some time ago.

Interesting that the first rule in the book "The Millionaire Next Door" is "always live well below your means".

My formula is;

Spend one third
Save one third
and taxes get the other third.
Reply With Quote Quick reply to this message

 
Old 02-11-2011, 09:28 AM
 
Location: Dallas
31,290 posts, read 20,718,309 times
Reputation: 9325
Quote:
Originally Posted by kevcrawford View Post
And poor? Really? If you have visited third-world countries, you'd know poor. Our "poor" aren't poor. Most are content just to have a roof over their heads. Our "poor" can go to the grocery store and while they may not be able to buy steak, they can buy what they need to live. Our "poor" don't have a CLUE what it's like to be poor. Our country is blessed SO much more than others out there.

Our "poor" have a chance to make something of themselves. The truly poor in other places of the world are beaten down, dying and are just happy to get a "meal" every few days. Clean water would be even better.

Our "poor" aren't poor. But they won't be driven to do any better until we stop with all the free handouts. People have a survival instinct, and when you need to figure out how to make money and survive, you will.
Correct.

I've been to many countries (India, South Africa, Morocco, Argentina, Chile, Mexico) where people are really poor and have very little opportunity to do anything about it.

In the US, if you are healthy and have reasonable intelligence, you have a lot of opportunities to achieve a comfortable income.
Reply With Quote Quick reply to this message
 
Old 02-11-2011, 09:31 AM
 
Location: Tyler, TX
23,777 posts, read 24,065,400 times
Reputation: 15080
Quote:
Originally Posted by GTOlover View Post
three ways to get rich
1. work hard get a decent education and hope you make it
2. the second way is to screw other people over for you own means so pretty much become a sell out
3. inheritance
Spoken like someone who is determined to remain a wage slave.

Why do harbor so much hate for those with more money than you?
Reply With Quote Quick reply to this message
 
Old 02-11-2011, 09:34 AM
 
Location: Philadelphia, PA
3,388 posts, read 3,900,842 times
Reputation: 2410
Quote:
Originally Posted by Roadking2003 View Post
I'm sure that there are more business failures than successes.

But there are other ways to become rich such as living well below your means. For example, I've applied this formula to my annual income for the past 10 - 12 years: Spend 33%, save 33% and pay 33% in taxes. Savings accumulate pretty fast that way.
I agree that's a good formula. The problem is when even bare bones living expenses are difficult to keep at 33%.

I have no problem with the idea of the American dream - work hard, seize opportunities, better yourself. I have no problem with rewarding those who are able to do so.

What I do have a problem with is some of the posters on this thread (not you personally) who seem to think anyone who is reasonably intelligent and willing to work 80-100 weeks should be doing ok financially if they are living frugally. This is more of a disappearing middle class rant than a "jealous of the upper class" rant. I personally have no aspirations to millions. It would just be anecdotal, but I can tell you there are plenty of people right now who made "the right choices," invested in their educations, worked their tails off to put themselves through school, worked their tails off (90hr/week) to get ahead at work, who are still struggling financially. People who ask nothing of the government, who pay their taxes, and do what needs to be done to make ends meet in a relatively frugal fashion.

What really burns me up is when it is assumed that these people made bad choices somewhere, when in reality they followed the "American dream" formula. I think it is disrespectful to these folks not to acknowledge that if you work hard, make smart choices, etc. it is still no guarantee of financial security. Again, I'm not talking millionaires here, but middle class folks who are slipping into lower middle class and working class.
Reply With Quote Quick reply to this message
 
Old 02-11-2011, 10:17 AM
 
3,398 posts, read 5,100,709 times
Reputation: 2422
Quote:
Originally Posted by calibro1 View Post
I didn't even read the entire post since it started off flawed. We don't have more opportunities for the underprivileged than anywhere on earth. In fact, out of industrialized nations we consistently rank as one of the worst places to get a leg up. Oddly, Nordic countries have more social mobility than we do.

There is less mobility. Go and research it for yourselves. This isn't anything new. It shouldn't come as a shock to any intelligent, rational American.

You don't have a case to rest.
Now that's just rude. If you aren't going to read someones post your comments about that post mean nothing.
Reply With Quote Quick reply to this message
 
Old 02-11-2011, 10:33 AM
 
3,398 posts, read 5,100,709 times
Reputation: 2422
Quote:
Originally Posted by gizmo980 View Post
The majority of wealthy businessmen/women are generally honest, good folks... and I take offense at some of you suggesting otherwise.
I was going to say that. The idea that you can only succeed at becoming rich if you hurt others is the attitude many people take so they can feel better about being poor. The most kindhearted people I know are financially secure to very wealthy. I really think you are more likely to find people who are more fair, generous and kindhearted among the wealthy than the poor.
Reply With Quote Quick reply to this message
 
Old 02-11-2011, 10:38 AM
 
3,398 posts, read 5,100,709 times
Reputation: 2422
Quote:
Originally Posted by Grim Reader View Post
Probably true in many cases. Although not all.

But the point is, should America be happy with poor kids having a 1 percent change of getting into the top 5 %? When in some other countries they may have a 2 or 3 % chance?

I don't think it is a question of "is it impossible or not?" Obviously it is possible. But how difficult should it be? Is it good enough to have one of the lowest social mobilities in the first world as long as there is some mobility?
Does getting into the top 5 percent really have to happen? It is an unrealistic goal for most.
Reply With Quote Quick reply to this message
 
Old 02-11-2011, 10:42 AM
 
Location: Tyler, TX
23,777 posts, read 24,065,400 times
Reputation: 15080
Quote:
Originally Posted by PITTSTON2SARASOTA View Post
essentially you must ... "suck up" to the right people.
Bullpucky.

Quote:
Originally Posted by PITTSTON2SARASOTA View Post
Many folks cannot bring themselves to cheat others etc....to mislead others etc....to get ahead at all costs
You're never going to have any money to speak of. You've convinced yourself that the only way to get ahead is to be dishonest, which is, of course, completely false, but if that's what you believe, then you're only handcuffing yourself - no skin off anyone else's back. I just hope you're not teaching any children that nonsense. Your self-fulfilling prophecy should be kept to yourself.
Reply With Quote Quick reply to this message
 
Old 02-11-2011, 11:17 AM
 
Location: Texas
44,254 posts, read 64,302,562 times
Reputation: 73924
Quote:
Originally Posted by calibro1 View Post
Working in college is directly related with GPA and income. The lower income background you are, the more hours you work in college. The more hours you work in college, the lower the GPA...of course there are exceptions. I worked at one point 30 hrs a week with a science major and a minor...along with a fraternity and student government (this was an exception). However, the norm is not like this. I knew that I could leave since my parents would help me out if need be. So the stress was not there.

Economics plays a huge role in future outcome.
Right. And all the people I knew in college who came from poor backgrounds were the only ones who could qualify for a need-based scholarship (since there are hardly any merit-based ones anymore).
Reply With Quote Quick reply to this message
 
Old 02-11-2011, 11:20 AM
 
Location: Texas
44,254 posts, read 64,302,562 times
Reputation: 73924
Quote:
Originally Posted by Roadking2003 View Post
Correct.

I've been to many countries (India, South Africa, Morocco, Argentina, Chile, Mexico) where people are really poor and have very little opportunity to do anything about it.

In the US, if you are healthy and have reasonable intelligence, you have a lot of opportunities to achieve a comfortable income.
Agreed. Our poor have it pretty darn good compared to most of the planet. What sucks is how few of them take advantage of their opportunity for upward mobility.
I worked with some who wanted desperately to do something about their situation - I was impressed and helped them any way I could. Now I work mostly with the ones who couldn't give a crap and get angry when they don't get all their entitlement money. What a different world.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top