Getting Rich

Discussion in 'Economy' started by William Joyce, Dec 9, 2007.

  1. William Joyce
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    William Joyce Chemotherapy for PC

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    Here is question. How many rich people got rich by saying, "I want to get rich," then figuring out how, and how many got rich "by accident," just doing what they do well?
     
  2. midcan5
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    midcan5 liberal / progressive

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    As many people who ended up poor even though they wanted to be rich is my quick answer.

    But we know lots of rich people so I'll give you an answer. None. The richest I know inherited their wealth, if that death tax were true no one told them. The second richest, were born or married into wealth, say an excellent business, car dealers, furniture chain, food companies and became owner/partner. The internet made many rich. Some came from families where the grandparents/parent made a killing in the financial markets. But as my dad used to say too often, it takes money to make it. Everyone else works, some hard, that list, who are in the top 1%, includes lawyers and high powered salesmen but their riches don't compare to the first few groups. We know a few doctors but they fall into this last category. Well to do but not rich. When I read some of the posts on here I realize wealth is something few even know about except maybe when they drive by the gated mansions and wonder.
     
  3. Larkinn
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    Larkinn Senior Member

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    Most of its luck. Some of its working hard, but its a hell of a lot easier to do well in this country working a decent amount if you are intelligent than working a lot if you are stupid.
     
  4. Annie
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    Annie Diamond Member

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    Most common, regular intelligence and better than average work ethic.
     
  5. Toro
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    Toro Diamond Member

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    Correct.

    Also add "single-minded purpose"
     
  6. Bern80
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    Bern80 Gold Member

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    Unfortunately the cynics in here are a little off. the following is an excerpt from the rather interesting "The Millionaire Next Door: The Surprising Secrets of America's Wealthy"

    http://www.washingtonpost.com/wp-srv/style/longterm/books/chap1/millionairenextdoor.htm

    Here are just a few of the more interesting statistics:

    * Many of the types of businesses we are in could be classified as dull/normal. We are welding contractors, auctioneers, rice farmers, owners of mobile-home parks, pest controllers, coin and stamp dealers, and paving contractors.

    * Most of us (97 percent) are homeowners. We live in homes currently valued at an average of $320,000. About half of us have occupied the same home for more than twenty years. Thus, we have enjoyed significant increases in the value of our homes.

    * Most of us have never felt at a disadvantage because we did not receive any inheritance. About 80 percent of us are first-generation affluent.

    * We live well below our means. We wear inexpensive suits and drive American-made cars. Only a minority of us drive the current-model-year automobile. Only a minority ever lease our motor vehicles.

    * Only 17 percent of us or our spouses ever attended a private elementary or private high school. But 55 percent of our children are currently attending or have attended private schools.

    * About two-thirds of us work between forty-five and fifty-five hours per week.

    Good read and will change what you think about the wealthy in this country
     
  7. William Joyce
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    William Joyce Chemotherapy for PC

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    Interesting stats. This might have been my grandparents, who came from the depression and saved every penny. We were surprised at what they'd amassed when they died.

    I think for the super-rich it's a combo of talent, drive and luck. No big surprise there. Bill Gates was smart, but not a genius, and combined computer savvy with business savvy and some GREAT timing. So there it is for him.

    Meanwhile, I think the guy who invtented the mouse is still bitter that he didn't profit from it.
     
  8. midcan5
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    midcan5 liberal / progressive

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  9. Bern80
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    Bern80 Gold Member

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  10. LordBrownTrout
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    LordBrownTrout Gold Member

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    Becoming well off or being successful in a business venture

    1 Saving a lot of money before you go into business
    2 Working 18 hour days
    3 Knowing that they're are no guarantees
    4 A burning desire or goal to strive for
    5 Dealing with unknowns, setbacks, but continuing to perservere
    6 Not listening to people who say that you're going to fail
    7 Offering a service or product at a good price
    8 Cultivating friendships along the way
    9 Taking care of your employees
    10 Good business ethics
    11 Having more coming in than going out

    to name a few....
     

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