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Most of us have heard or read How the Rich think but in todays economy, how are the rich and wealthy thinking now. By rich I am referring to people who have a good to excellent income, can easily meet their monthly obligations, have a good amount saved and invested.
Wealthy meaning, the uber rich.
What are they thinking? In the immortal words of Freddie Prinze, "Loookiiinng goood".....
Most of us have heard or read How the Rich think but in todays economy, how are the rich and wealthy thinking now. By rich I am referring to people who have a good to excellent income, can easily meet their monthly obligations, have a good amount saved and invested.
Wealthy meaning, the uber rich.
The super rich don't sweat the economy. They can donate millions, hell hundreds of millions, and they are rounding errors on their taxes.
Doesn't effect them, one bit. Small business owners who do millions in business but have to pay close to that to keep it running, they are the ones feeling it, and those who have lower wage jobs as rent prices increase, food prices increase, and gasoline prices increase.
What are the rich thinking? One word 'opportunity'.
No matter what the state of affairs, there are always opportunities. The rich find them first. Partly because they are able to more easily but partly because they take the chances that are needed in new or distraught areas. By the time the commoner gets in, most of the money has already been made.
Name: Mark Cuban
Born: July 31st, 1958
Hometown: Pittsburg, Pennsylvania
College: Indiana University; B.S. management
Resides in: Texas
Current Job: Retired; Owner of Dallas Mavericks, HDNet
First Job: Garbage bag salesman
Net Worth: $1.3 billion
Learn to sell garbage, and you too can be a member of the 1%.
Most of us have heard or read How the Rich think but in todays economy, how are the rich and wealthy thinking now. By rich I am referring to people who have a good to excellent income, can easily meet their monthly obligations, have a good amount saved and invested.
Wealthy meaning, the uber rich.
How are the rich thinking? They're probably pointing and laughing at us working class stiffs from their yachts.
Most of us have heard or read How the Rich think but in todays economy, how are the rich and wealthy thinking now. By rich I am referring to people who have a good to excellent income, can easily meet their monthly obligations, have a good amount saved and invested.
Wealthy meaning, the uber rich.
I think at this point "wealthy" is obsolete. What we are really discussing is power. We may have had a set of rules that allow the accumulation of wealth to be biased towards the rich. However at least those rules in theory could be fixed. However a millionaire is simply someone who has access to luxury. They are not really in a position to actively keep altering the rules which is more than just tipping the odds one way. They are oligarchs, which means the rules will conform to whatever makes them wealthy. What better example than the housing bubble. The status quo was making them rich. When housing went bust, the market rules changed but da guberment redefined the rules to keep wealth eaxtly where is was. That isn't wealth, its power.
Most of us have heard or read How the Rich think but in todays economy, how are the rich and wealthy thinking now. By rich I am referring to people who have a good to excellent income, can easily meet their monthly obligations, have a good amount saved and invested.
Wealthy meaning, the uber rich.
More than half the people I know well fit your definition. This includes blue collar workers, office workers, teachers, nurses, firefighters, tradesmen, and small business owners.
Are we in such a sad state that people who easily meet their obligations and have a good amount saved are now "wealthy, meaning the uber rich?" And isn't an income "good" if it allows one to easily meet obligations and save a good amount? Just about anyone who spends less than they make on a consistent basis ends up uber rich, by your definition.
And the smart ones, by the way, are investing as always.
That was two classification. The rich AND the uber rich. Maybe I should say a ver high amount in investments which in turn produces a good to excellent cash flow. I don't know what is considered truly rich and there are different definitions and variables to take into consideration so I don't know if making a statement with a dollar amount will work.
My point, not to define what is considered rich, heck I can fit into what some define rich, and it's been hashed over, my point being is this.
When times were really tough for me in hindsight I remember one crossroad. If I had continued the same way of thinking things were NOT going to change and possibly even get worse. Always reading, listening, learning what i was hearing made sense and played a part in my decisions. So instead of more of the same, and jumping onto blame and hate bandwagon, I CHANGED my thinking actions, and reactions. and believe me it made a difference.
Very Hard working, honest, paying bills on time, very little savings. Having a high ARM at a 7 percent interest when all time low interest rates are being advertised for all to hear. Always stressed and depressed at their circumstances, what do you think they did? Did not try for refinance because of average Fico score. Instead of learning what they need to do and attempting to position themselves into a refinance (bring down interest and into a fixed rate mortgage) they gave up and with girlfriend co-signing and he bought a car.
Forward one year, better credit score, try for refi and declined, why, not because of score (which is now good) but declined because of too much debt and income to debt ratio. Talk about backing themselves into a corner all because of the way they think and did in response. See how a little education, while not a magic wand would have helped this person make a better fincial decision. Making an income is only part of the ratio. First you learn how to make it then learn how to keep it or use it.
Forward 1-2 years in future, interest rates climbing, mortgage rate climbing, now barely hanging on but hey the got that shiny car.
Do you see how not understanding, doing the wrong thing has changed this persons life forever for the worse? ..UNLESS thy take hold NOW. Actually it is still not too late but going to take much more to turn it around. Knowledge is power in your life.
This is why they say you can take all the money from a rich man and he will be rich again. It's in what you know, how you think, actions and reactions that will help you or make it worse for you.
See the difference in thinking?
Hence what do the rich think.
Last edited by eRayP; 03-06-2012 at 01:38 PM..
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