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It's not that hard to become rich, just be born into rich parents/grandparents. Wealth isn't made/earned in this country... it's inherited.
There is very little data to support this. In 2007 wealth transfers (mainly inheritances, but also including gifts) made up an average of 14.7 percent of the total wealth of those who classify as the top 1 percent in terms of wealth. This is actually a decline from the past. In 1992, 27 percent of the wealth of the top 1 percent came from wealth transfers.
Moreso than any time in the last 20 years the wealthy are earning their money as opposed to inheriting it.
I would have preferred a life of sloth, indolence and depravity but I could not afford it. So I worked for 50 years, banked a lot and have a decent pension. The trouble is the depravity part takes more energy than I have left.
The idea that intelligence, hard work and frugality will make you rich is the greatest myth of all. Intelligence, hard work and frugality will let you live in modest comfort but, without a great deal of luck, it will NOT make you as rich as even a modest inheritance from the wealthy financial class.
Bull crap. With this attitude you will never succeed. In 1992 when my marriage failed my net worth was less than $100,000, by 2001 when I retired it had reached the million plateau, and has continued to grow...Guess what the reason was?...First of all it was a positive attitude, then hard work, good decisions, (and a few bad ones) a bit of luck, and not trying to keep up with the the guy down the street. In other words I have been frugal.
Getting rid of a wife who's hobby was shopping didn't hurt either.
I am the opposite, I don't save hardly jack, I live for the now, though I am responsible financially for the now, because I know the now is real and a gift. Who knows what tomorrow will bring despite the deepest planning. I have faith that it will work out though.
Nothing is certain, the family, friends or lover you have now could be gone tomorrow. So could your savings, house and all your possessions. Either way it can hurt you, but a car or house or money can be replaced even if not to extent that use to be, so can a lover be replaced in a sense. But family and friends and health and memories? They can't be replaced and those are now, and they may only be now, so I live for the now.
I travel to Thailand every year. I buy nice things, quality things. One can do both save money and have a good life.
Its called living within your means.
Bull crap. With this attitude you will never succeed. In 1992 when my marriage failed my net worth was less than $100,000, by 2001 when I retired it had reached the million plateau, and has continued to grow...Guess what the reason was?...First of all it was a positive attitude, then hard work, good decisions, (and a few bad ones) a bit of luck, and not trying to keep up with the the guy down the street. In other words I have been frugal.
Getting rid of a wife who's hobby was shopping didn't hurt either.
Sure buddy...whatever you say.
Quote:
Originally Posted by northnut
Everyone's a self made millionaire on this forum, lol.
It's unreal. And they're silly enough to think we'll all believe it too.
It's not that hard to become rich, just be born into rich parents/grandparents. Wealth isn't made/earned in this country... it's inherited.
Not true at all. I know a lot of rich people who inherited nothing.
It happens all the time to winners. Meanwhile, losers whine.
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