The world's richest folks doubled their wealth in the last 10 years.

[williepete]

A lot of people in my neighborhood had their house foreclosed. A lot of people don't have financial managers because they jobs aren't paying enough for them to even consider owning any stocks or bonds.

I hear you. A lot of people live above their means. I would say most Americans do. We as a nation produce economic illiterates. I worked in an industry where I made good money. I'd say 80% of my coworkers making what I did lived paycheck to 6-figure paycheck. When 2008 happened, they took massive hits because they were overextended.

You can't fix stupid.

Live below your means. Save your surplus. Over time, invest those savings wisely. Avoid debt. Not rocket science. Works 100% of the time. But you see, that's not how most of our citizens operate mentally. They want it all and they want it now. Paying credit card interest rates is a stupid tax. Paying a car loan is a stupid tax.

You are ultimately responsible for where you are in life.

The victim card doesn't work. Don't trust anyone trying to make you feel like a victim. Look in the mirror to see who's responsible.

 

[Cellblock2429]

/----/ And if in 2009 you'd put $1,000 in the S&P 500 spyder, you would have more than TRIPLED your money. S&P 500 - 10 Year Daily Chart

Yeah right, tell that to the millions of families in debt or with no savings because they work at minimum wage jobs.

/---/ You think $1,000 is a lot of money to save and invest? Man, you are a loser.
BTW, I started out at minimum wage and managed to save $1,000 to open a Fidelity account and my first mutual fund in 1973. I made $125 a week in advertising and another $60 a weekend bartending. I lived in a furnished studio for $25 a week and lived on simple basic foods. I managed to save $25 - $39 a week. In 8 months I had enough to open a brokerage account. The fund returned about $10 a yar and I always added to it.
So what's your excuse?

 

[Cellblock2429]

2008 was instructive. We felt as much as saw the crash coming and got out of our medium to high risk investments and into lower performing but safer investments. We didn't lose too much. We were slow getting back in until we saw positive, stable growth. We missed out on a lot of earnings but slept well at night. We've made it all back and a lot more.
Our financial manager uses the 2008 model to assess how much we'd lose in a 2008 scenario model and gives us options. On our annual visit, a strategy at one end would take a 25% hit while at the other end would only go down 8%. We chose the 8%.

I knew a lot of people who lost their asses but their investments were not well managed, they weren't paying attention and a few were just greedy. Some people have a hard time selling on a decline and taking a loss only to lose more by riding it to the bottom.

"You gotta know when to hold 'em and know when to fold 'em."

A lot of people in my neighborhood had their house foreclosed. A lot of people don't have financial managers because they jobs aren't paying enough for them to even consider owning any stocks or bonds.

/----/ Loser.

 

[fncceo]

Good for them.

Well done.

 

[Wuwei]

/---/ You think $1,000 is a lot of money to save and invest? Man, you are a loser.
BTW, I started out at minimum wage and managed to save $1,000 to open a Fidelity account and my first mutual fund in 1973. I made $125 a week in advertising and another $60 a weekend bartending. I lived in a furnished studio for $25 a week and lived on simple basic foods. I managed to save $25 - $39 a week. In 8 months I had enough to open a brokerage account. The fund returned about $10 a yar and I always added to it.
So what's your excuse?

/----/ Loser.

Good for you. What makes you think I'm talking about me? I'm doing very well. I'm talking about the 38 million people living in poverty according to the latest census. Here is what people like you never see.

McDonald's Sample Budget Sheet Is Laughable, but Its Implications Are Not

They recommend you have two jobs per family. They budget $0 for heating. $20 for health insurance.

You have to remember half of all people are below average intelligence and simply can't lift themselves higher. Do you think those 38 million less than average people can find 38 million higher paying jobs so they can hire a broker?
.

 

[Markle]

Did you ? Not very likely.

World's Richest People Have More Than Doubled Their Wealth Since 2008

Here's a peek at the rising tide of inequality that shows no signs of slowing down.

 

[Markle]

More power to ya Brisko.

Americans Lost over $10 Trillion in investment/retirement funds and home equity in 2008 and they say the next crash will be much worse.

America Lost $10.2 Trillion In 2008

Who is they?

Who said the next crash will be much worse and what will be the cause?

 

[Wuwei]

I hear you. A lot of people live above their means. I would say most Americans do. We as a nation produce economic illiterates. I worked in an industry where I made good money. I'd say 80% of my coworkers making what I did lived paycheck to 6-figure paycheck. When 2008 happened, they took massive hits because they were overextended.

You can't fix stupid.

Live below your means. Save your surplus. Over time, invest those savings wisely. Avoid debt. Not rocket science. Works 100% of the time. But you see, that's not how most of our citizens operate mentally. They want it all and they want it now. Paying credit card interest rates is a stupid tax. Paying a car loan is a stupid tax.

You are ultimately responsible for where you are in life.

The victim card doesn't work. Don't trust anyone trying to make you feel like a victim. Look in the mirror to see who's responsible.

Yes. Americans are responsible for their debt and most are stupid about it. Here's how many Americans currently have debt:
It's Official: Most Americans Are Currently in Debt | The Motley Fool

• 80.9% of baby boomers
• 79.9% of Gen Xers
• 81.5% of millennials

Overall consumer debt reached $13.3 trillion in the fourth quarter of 2018.
How Much Debt Do Americans Have? | The Motley Fool

"The average American now has about $38,000 in personal debt."
What do you think would happen to the US economy if consumers dropped their spending way down so they could pay off their debt -- keep their car for 15 years, don't upgrade the kitchen, cell phone, TV, etc. That would be $38 trillion products not sold. How do you think our booming economy will fare? Factories would scale down. Jobs would be lost.

It seems the country is living on borrowed time. Literally.
.

 

[CWayne]

Did you ? Not very likely.

World's Richest People Have More Than Doubled Their Wealth Since 2008

Here's a peek at the rising tide of inequality that shows no signs of slowing down.

So, how much did it take out of your pocket?

 

[Andylusion]

Did you ? Not very likely.

World's Richest People Have More Than Doubled Their Wealth Since 2008

Here's a peek at the rising tide of inequality that shows no signs of slowing down.

I love watching left-wingers who spent 4 years now screaming that Russia threw the election with fake news and media, wiped out Hillary, and that Trump is a pawn of Russia.... Then turn right around and cite RT... the defacto leader of Russian propaganda in an attack on America capitalism.

Putting that aside....

Last year (2018) was a record year for me in income. I made just under $30,000 a year. I've never earned that much in my life. Before that I made about $24,000, and for nearly 10 years, I had an income under $20,000.

So with that as the background, showing that I'm not the high income super elite....

You post that the world's richest doubled their wealth in the last ten years, and asked "Did you?" .... answer....

Yes! Yes I did. More than double in fact. How did I do this?

It's simple. You save, and invest. That's how you do it. Every single month, for the past ten years, I put money into my investments.

That's how you do it. That's how you double your net worth.

That means when the market was crashing... I was buying stock. Now I have doubled my net worth.

You can do that too. So can anyone. Stop whining.... start buying. Instead of crying about the rich, how about doing what rich people do, so you can have some wealth for yourself.

 

[Andylusion]

My net and growth has both more than doubled over the last 10 years. My homes and properties I own are at ridiculous levels. My 401k investment is up 38% this year alone. My personal savings remain stable but thats because so much is invested rather than sitting in a bank account.

And heres the really cool part. None of my gains cost any of you a penny. In fact, the only people that are miserable are the people not working...on welfare, or in every other way they can manage finding a way to kick their own ass. Yeah...THOSE guys have a tendency to bitch about the inherent unfairness of a system that creates such a divide. But if you look past the woes is me mentality you learn there is no system oppressing you. The only people oppressing you are you and that pathetic rat bastard that stares back at you from the mirror every morning.

Congratulations but you missed the point.
Now run along and count your gold nuggets, Sinbad.

No, you are the one who missed the point.

The point he's making is, that anyone can be wealthy. It's a function of you being wise with money.

His point, correctly I should say, is that the rich and wealthy have nothing to do with it. Him being more wealthy, doesn't take away a dime from you. Anymore than the rich elite being wealthy, doesn't take a dime from you.

If Warren Buffet lost a billion dollars tomorrow, how would your life change? If he gained a billion dollars tomorrow, how would your life change? In both cases, nothing would change.

Bill Gates being a billion more wealthy, or a billion less wealthy, doesn't change your life at all. It's not like you'll wake up tomorrow in a mansion, because Bill Gates lost a billion dollars. Nor will you end up in a rat infest studio apartment, because he gained a billion.

Nothing the rich and wealthy do, has any affect on your life. So why are you even concerned about how much more, or much less, the rich have? Because you are being ruled by greedy and envy, not rational logic.

If you were thinking rationally and logically, you'd stop this spoiled brat whiny "they got more money!" nonsense.

The point is, anyone can be wealthy, if they invest wisely with their money. Anyone can. The reason the poor are poor, has nothing to do with the rich, and everything to with the poor making bad choices with their money.

So crying about the rich, instead of teaching the poor to be wise, is a waste of time.

 

[Andylusion]

/---/ You think $1,000 is a lot of money to save and invest? Man, you are a loser.
BTW, I started out at minimum wage and managed to save $1,000 to open a Fidelity account and my first mutual fund in 1973. I made $125 a week in advertising and another $60 a weekend bartending. I lived in a furnished studio for $25 a week and lived on simple basic foods. I managed to save $25 - $39 a week. In 8 months I had enough to open a brokerage account. The fund returned about $10 a yar and I always added to it.
So what's your excuse?

/----/ Loser.

Good for you. What makes you think I'm talking about me? I'm doing very well. I'm talking about the 38 million people living in poverty according to the latest census. Here is what people like you never see.

McDonald's Sample Budget Sheet Is Laughable, but Its Implications Are Not

They recommend you have two jobs per family. They budget $0 for heating. $20 for health insurance.

You have to remember half of all people are below average intelligence and simply can't lift themselves higher. Do you think those 38 million less than average people can find 38 million higher paying jobs so they can hire a broker?
.

I did it. I did exactly that. I was earning $20,000 a year, and got myself a broker to open an IRA account, and started dumping money into it every single month.

I am not asking anyone else to do something, that I myself have not done.

And honestly, sometimes on this forum, I feel like I'm one of the few people on this planet that had a real father. I was always taught that if I didn't like my income or my job, that it was MY DUTY... to take care of MY LIFE. Sitting around crying tears over how much McDonald's pays, is the refuge of a coward. Grow a pair of balls, and deal with that yourself.

I had jobs that didn't pay enough. The way I dealt with it, was a sat around crying on forums about how unfair society was, and that capitalism sucks, and it was all Obama's fault.

If I had done that, I'd still be at that job. Instead how I really handled it, and how any real man should handle it is.... I quit, and found a job that paid more.

Again, not asking people to do anything I have not done. Idiotic.

Further, your crying over that budget, is ridiculous. My first apartment had all electric heat, and in the winter the electric bill was about $90.

Further, the insurance I had last year, was $20 a month.

I don't see anything wrong with that budget. Second, buy a cheap used car, and get rid of your car payment. Cancel your cable TV. Get a pay-go phone.

Look, here's the bottom line......

Two people working minimum wage in this country, places them in the top 1% of wage earners in the entire world. Top 1% of the planet.

You have a husband and wife, working minimum wage at McDonald's, you are now with a standard of living that places you ahead of the other 7.7 Billion people on this planet.

You can make it on two minimum wage incomes. And honestly, if you are working minimum wage, it's because you suck. I only worked minimum wage, at one point in my life. When I was in high school, before I turned 18, I was 17 working 3 hour shifts part time, and making minimum wage.

The year I turned 18, I started working full time, and you automatically got a 50¢ raise just for being full time, and then you got a $1 raise if you worked there for 12-months. That means in one year, you should at least be $1.50 over the minimum wage.

If you have been in the work force longer than 2 full years at the very most, and you are still making minimum wage, then you are the problem in your life. Not society, or capitalism, not McDonald's or the CEOs. The problem is you. You are either not putting in the effort, or you are simply not doing your job, or you have some other problem. But *YOU* are the problem if you are still making just minimum wage.

And by the way... if you stay at McDonald's for longer than 2 years, you should be in management, and moving up the corporate track. It takes a clear loser to work at McDonald's for years, and still be a fry cook. You should be in line to be store manager by then.

I was at Advance Auto parts for less than a year, and just because I showed up on time, and did my job consistently, they wanted to enroll me in the management training program. If I had stayed there, I'd have my own store by now. Actually by now, I could be a district manager.

If you can't move up from where you are, there is something wrong with you. Get your butt to work on time, stop taking so many breaks, and start doing your job.

 

[the other mike]

Notice where Japan and Germany are compared with us.

According to the report, the U.S. has the most wealthy people in the world with 5,285 individuals hitting the mark of a high-net-worth individual. Japan and Germany landed in second and third place with 3,162 and 1,365 wealthy people, respectively.

These rich countries have high levels of child poverty

 

[sparky]

disparity stifles any society , lack of quintile mobility ,monopolizing acquisitions , wealth redistribution thru biased legislations have been it's symptoms for a generation

~S~

 

[Cellblock2429]

/---/ You think $1,000 is a lot of money to save and invest? Man, you are a loser.
BTW, I started out at minimum wage and managed to save $1,000 to open a Fidelity account and my first mutual fund in 1973. I made $125 a week in advertising and another $60 a weekend bartending. I lived in a furnished studio for $25 a week and lived on simple basic foods. I managed to save $25 - $39 a week. In 8 months I had enough to open a brokerage account. The fund returned about $10 a yar and I always added to it.
So what's your excuse?

/----/ Loser.

Good for you. What makes you think I'm talking about me? I'm doing very well. I'm talking about the 38 million people living in poverty according to the latest census. Here is what people like you never see.

McDonald's Sample Budget Sheet Is Laughable, but Its Implications Are Not

They recommend you have two jobs per family. They budget $0 for heating. $20 for health insurance.

You have to remember half of all people are below average intelligence and simply can't lift themselves higher. Do you think those 38 million less than average people can find 38 million higher paying jobs so they can hire a broker?
.

/——-/ No one has to hire a broker. Go to a library and read the financial papers, pick a mutual fund. Simple as that. And we’re not talking about special needs people. I’m referring to average intelligence with a high school diploma.

 

[sparky]

No one has to hire a broker.

I was thinkin' more hire a congress critter....~S~

 

[the other mike]

No one has to hire a broker.

I was thinkin' more hire a congress critter....~S~

Unless you're already rich, Wall Street is rigged against you.
Stock buybacks are set to hit a record $1 trillion this year, even as presidential candidates try to restrict them | Markets Insider

 

[Flash]

These stupid greedy Moon Bats all bitch about somebody else making more money than themselves but they all voted for that dipshit Obama who not only increase poverty and decreased family income but also increased income disparity.

They also voted for that corrupt bitch Crooked Hillary that went from "being broke and in debt" (her words) to becoming a mega millionaire. Talk about income disparity.

They also have the Trump Derangement Syndrome mental illness, which makes them hate Trump. The disease makes them to ignore the fact that with Trump the US has increased family income, a full employment economy and millions removed from the welfare rolls.

 

[the other mike]

 

[Andylusion]

Notice where Japan and Germany are compared with us.

According to the report, the U.S. has the most wealthy people in the world with 5,285 individuals hitting the mark of a high-net-worth individual. Japan and Germany landed in second and third place with 3,162 and 1,365 wealthy people, respectively.

These rich countries have high levels of child poverty

The irony here is amazing.

First, yeah Japan has exceptionally low child poverty rate. You know what else is low? People having any children at all. Their population decline is at crisis levels.

Hey crazy thought.... you think maybe if you have practically no children in your society (relative to population of course), that the rate of child poverty would be low?

Why yes....

Also, Japan has at least one exceptionally strong family value. They virtually never have a child out of wedlock, because of their cultural values that understand kids out of wedlock is horrible for the child.

You know what else it's bad for? Child poverty. One of the highest predictors of child poverty, is having a child out of wedlock.
So you just made a massive case for conservative family values.

Second.... I love how Mexico has the highest rates of child poverty on your list. Which amazingly, the largest group of immigrants is from..... Mexico.

Hey, do you think having the largest population of immigrants in our country from the country with the highest levels of child poverty, might effect our child poverty levels? Why.... yes... logically it would.

You people never really think any of these issues through, do you? You just find someone saying something you like, and spout it off here.