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Old 01-14-2015, 12:45 AM
 
Location: Long Island
32,816 posts, read 19,480,794 times
Reputation: 9618

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Quote:
Originally Posted by freemkt View Post
Rich people have control over their lives because they do not have to constantly answer to others. Poor people always have to answer to employers and landlords.

I have zero control over my work environment and my living environment. The resident drunk just blew up at least three times in the last 24 hours and kicked out his girlfriend each time - and those are just the times I know about as I was out of the house almost all day.
uhm...

you have a choice of who you work for
you have a choice of your skill set, which determines what kind of employer you can/will have

you have a choice of where you want to live
you can choose to live in crap, or better yourself and live somewhere else, that is still affordable

you DO have those choices.....its up to you to have the self-pride, and self-motivation to better yourself
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Old 01-14-2015, 01:01 AM
 
33,016 posts, read 27,455,098 times
Reputation: 9074
Quote:
Originally Posted by Driller1 View Post
I live on the deprecation of my equipment.

A lease is 100% write off.......but, I love deprecation.

No payments me........I do not like payments.

I do pay some things with a CC.......but, pay the balance in full each month.

I get about $1000 cash back.

You don't expense your equipment in the year you purchase it?
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Old 01-14-2015, 01:05 AM
 
33,016 posts, read 27,455,098 times
Reputation: 9074
Quote:
Originally Posted by workingclasshero View Post
uhm...

you have a choice of who you work for
you have a choice of your skill set, which determines what kind of employer you can/will have

you have a choice of where you want to live
you can choose to live in crap, or better yourself and live somewhere else, that is still affordable

you DO have those choices.....its up to you to have the self-pride, and self-motivation to better yourself

Yes I started with nothing, bought and sold, reinvested the profits to buy more now I have $15K of stuff that I can't sell in this dysfunctional environment. No cash = can't move to a normal environment.
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Old 01-14-2015, 01:11 AM
 
33,016 posts, read 27,455,098 times
Reputation: 9074
Quote:
Originally Posted by petch751 View Post
You do realize that the stock market isn't the only asset class.



There will always be winners and losers but the winners decided to be winners and the losers would rather give excuses, blame everyone else, and complain instead of saying, no, not with me you don't.

Name some asset classes readily available to the poor.
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Old 01-14-2015, 01:16 AM
 
33,016 posts, read 27,455,098 times
Reputation: 9074
Quote:
Originally Posted by 2e1m5a View Post
Do you agree with not teaching finance/economics/investing/monetary policy in our public schools?

Do you like how the majority of Americans have no clue as to how our financial system works?

Do you think everyone could earn a lot of money on the stock market if everyone understood how to play it?

Don't you see that there needs to be winners and losers, and the rich benefit from the poor being poor and making stupid decisions with money?

They do know that they pay and pay and pay and have nothing to show for it.

One of the winners got their money and an asset that keeps generating more money.
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Old 01-14-2015, 01:22 AM
 
4,911 posts, read 3,429,454 times
Reputation: 1257
Quote:
Originally Posted by petch751 View Post
Most rich people are rich because they serve others well. They offer value, something other people want and are willing to pay for. "As a result" of serving others, they become rich.

Poor are only concerned with serving themselves. Thats why they are called "takers".

Think about it.
I already have.

So let me get this straight. Rich people offer something of value that others are willing to pay for and that makes them wonderful people but when poor people offer something of value, called labor, that other people, called employers pay for with what are called wages that makes the poor people evil people who are "takers" You know it's really sickening and disgusting how you cons use the word "takers" as if that's a bad thing. What the hell do they take anyway? Their paycheck that they worked for? They're supposed to work for free?

When poor people aren't making enough money it's their own fault but when large corporations like Hostess aren't making enough money guess who's fault it is then. The corporations fault? Nope, it's the workers who are to blame.

When a young single mother in the inner city moves money into a different account to qualify for some public assistance in feeding her kids that's called "gaming the system" but when a multimillion dollar corporation moves money into a different account to qualify for a tax cut well that's perfectly ok and even admired.
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Old 01-14-2015, 01:26 AM
 
33,016 posts, read 27,455,098 times
Reputation: 9074
Quote:
Originally Posted by brentwoodgirl View Post
Totally disagree. 60% of Americans don't have $500 for an emergency. Most people are drowning in debt. Most rich people don't use debt to buy things. I live in one of the wealthiest counties in the country. Almost none of our friends have car payments or credit card debt.

You should read the article I posted, it completely goes against your premise:



Apparently you didn't read my post all, given your edit. I said I disagreed with the premise that poor people are takers.

do you expect a burger flipper to have $500 for an emergency?
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Old 01-14-2015, 01:26 AM
 
4,911 posts, read 3,429,454 times
Reputation: 1257
Quote:
Originally Posted by PedroMartinez View Post
Nope, most conservatives feel that people who have earned their money should be able to keep it and pass it on to whomever they choose.

Most liberals believe that nobody earns what they have but only "luck" into it; therefore, they don't deserve to keep most of it. Many of them believe the only difference between the guy living in the trailer home spending all his free time playing video games, drinking and chain smoking and the person who worked 80 hours and saving every nickel to start his own company is luck.

If cons feel that way then why does it **** them off so much when workers "take" the money they worked for?
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Old 01-14-2015, 01:32 AM
 
33,016 posts, read 27,455,098 times
Reputation: 9074
Quote:
Originally Posted by brentwoodgirl View Post
Wrong. 80% of millionaires are first generation wealthy. Only 20% inherit wealth from their families.



http://finance.yahoo.com/news/pf_article_110333.html

I highly recommend reading the entire article. One of the biggest factors in achieving wealth is self-discipline. Spend less than you make. Do you really need Starbucks every day? Why do you need a new $600 cell phone and a $100 a month bill?

I've never had a car payment in my entire life. I've always worked and saved to buy cars. At first I bought cheap cars I could afford, now I buy upscale used cars, and I drive them for years. Since I pay cash, I can make sure I get a great deal. I'm not dependent on hoping some financing paperwork gets approved. I also don't get obsessed about exact cars, colors etc. I'm driving an Acura MDX right now because I got an incredible deal on it.

We don't spend money on junk. We don't do credit card debt, we don't finance furniture, tvs, etc. When we want something, we buy a quality item and pay cash for it. We even pay cash for investment real estate. But if you heard my kids asking me for stuff at the grocery store, you would most often hear me telling them that I'll buy it when it goes on sale.

Long term thinking and learning delayed gratification are two really important pieces to becoming wealthy.

But I disagree with the premise of the thread too. I don't see all poor people as takers. Most lack long term planning skills. My MIL never has any money. She has no money sense. She joins every club and MLM scheme. She buys all kinds of cheap stuff she doesn't need that breaks right away. She shops on those stupid shopping networks. She will most likely work until she dies because she no sense of saving. We have tried to help her, but she's an adult and can make her own choices.

At some point you decide to do what it takes to climb out of the debt or you just wallow in it forever. But the decision is up to you for most people.

How many years would it take a burger flipper t become a mmillionaire?
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Old 01-14-2015, 01:37 AM
 
33,016 posts, read 27,455,098 times
Reputation: 9074
Quote:
Originally Posted by Driller1 View Post
Yep.....or, poor.


I don't know anyone who makes $5K and is not poor.
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