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You have to understand that it's not just money. It could be any combination of these things:
Personal residence
Other real estate
Closely held stock
Publicly traded stock
State and local government bonds
Federal savings bonds
Other Federal bonds
Corporate and foreign bonds
Bond funds
Diversified mutual funds
Cash
Cash management accounts
Mortgages and notes
Cash value life insurance
Noncorporate business assets
Farm assets
Limited partnerships
Retirement assets
Art
Other assets
Again I tell you, it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God."
Enjoy Hell.
And could you be any more jealous? God, I'm getting really sick of this "hate on the rich" campaign. More than 80% of millionaires in the US are self-made. And, I'm sure he does a lot more for the poor and downtrodden through his charitable gifting than you do.
BTW, you just might be in the 1% too since God doesn't care where you live. Global Rich List
Ponder this:
Quote:
Most of America's millionaires are first-generation rich. How is it possible for people from modest backgrounds to become millionaires in one generation? Why is it that so many people with similar socioeconomic backgrounds never accumulate even modest amounts of wealth?
Most people who become millionaires have confidence in their own abilities. They do not spend time worrying about whether or not their parents were wealthy. They do not believe that one must be born wealthy. Conversely, people of modest backgrounds who believe that only the wealthy produce millionaires are predetermined to remain non-affluent. Have you always thought that most millionaires are born with silver spoons in their mouths? If so, consider the following facts that our research uncovered about American millionaires:
* Only 19 percent receive any income or wealth of any kind from a trust fund or an estate.
* Fewer than 20 percent inherited 10 percent or more of their wealth.
* More than half never received as much as $1 in inheritance.
* Fewer than 25 percent ever received "an act of kindness" of $10,000 or more from their parents, grandparents, or other relatives.
* Ninety-one percent never received, as a gift, as much as $1 of the ownership of a family business.
* Nearly half never received any college tuition from their parents or other relatives.
* Fewer than 10 percent believe they will ever receive an inheritance in the future.
Im a high school dropout that made my $$$ by working in a Forge shop 50-60 hours a week and part time jobs on the side...
I live on investment income...
Im retired at 42 and I could lose it all tomorrow and Im sure Id be fine in 20 years ready to retire again...
Im not real impressed with "The movement"
People here make me sick, and no you wont get any of my $$$...
It's not all about college. But you do need to have a plan and a skill and the desire to execute it.
I knew guys right out of high school went to assembly plants for work, with overtime, they were able to buy nice 1st homes, some vacation homes and cars on the employee 'A' plan. It was hard work, but you can also punch out after 30 years and if you started at 18- you were young. Course those jobs a gone or going from the city.
What ever happened to the concept of saving money?
People have been so materialistic for years. Turn in that 40 inch television for a 48 inch television - did you actually see more with a bigger screen? Turn in the car that is 2 years old that you still have a loan on, that still had another 8 years on it, to get a new one. Get a stereo system that you can't go above 2 on the volume because it was meant for a night club. Add another watch to that collection - you can only wear 1 watch at a time!!! Get the latest mobile phone because the one you bought 6 months ago is "outdated". Every child in a home had to have their own laptop and the latest mobile phone. Heaven forbid your child be embarrassed using a mobile that is "outdated". Fill your closets up with the latest designer clothes every season - including the kids.
People are going to get knocked into reality, if some haven't already. There are people out there that could still have their heads above water if they weren't so driven to keep up. Keep up with what? How fast you can spend money, especially when you haven't yet earned it?
Im a high school dropout that made my $$$ by working in a Forge shop 50-60 hours a week and part time jobs on the side...
I live on investment income...
Im retired at 42 and I could lose it all tomorrow and Im sure Id be fine in 20 years ready to retire again...
Im not real impressed with "The movement"
People here make me sick, and no you wont get any of my $$$...
Not every 1%ter follows the same path. For some of us higher education was the leveraging asset. For you it may have been relentless labor to distinguish you from your peers. The commonality is uncompromising determination to achieve.
Sadly, our society appears to be approaching a new "norm", where your success is vilified rather than being celebrated.
PS I commend your "iron" attitude (sorry I couldn't resist).
You have to understand that it's not just money. It could be any combination of these things:
Personal residence
Other real estate
Closely held stock
Publicly traded stock
State and local government bonds
Federal savings bonds
Other Federal bonds
Corporate and foreign bonds
Bond funds
Diversified mutual funds
Cash
Cash management accounts
Mortgages and notes
Cash value life insurance
Noncorporate business assets
Farm assets
Limited partnerships
Retirement assets
Art
Other assets
Yes, how. And thank you for your answers. Apprenticeship is really not as big as it used to be. It would be wonderful if it was though!!!
It is the only way to get a drilling licence in Michigan.
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