Bleipriester
Freedom!
Me not. How can I get rich when the rich grab two thirds of the wealth and the prices rose by 50%? HOW?!
Did you got rich in the past 20 years?
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Blues Man
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Spend less than you make and invest the rest.Me not. How can I get rich when the rich grab two thirds of the wealth and the prices rose by 50%? HOW?!
Blues Man
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It's a simple concept but not necessarily easy. Then again nothing worthwhile is ever easy
Penelope
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They have a Billion more people than the US have.Me not. How can I get rich when the rich grab two thirds of the wealth and the prices rose by 50%? HOW?!
And stop voting for the party of the rich.
Blues Man
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The party in power has never affected my ability to spend less than I make and invest.
I disagree since their policies can affect how much you make. They can also affect how likely you are to go bankrupt in the event of a personal calamity.
Blues Man
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No they don't.
Did you ever get a pay cut because the party in power changed?
I worked for myself my entire adult life and the idiot in the oval office never had an effect on my ability to earn a living
Bleipriester
Freedom!
- Thread starter
- #11
From rags to riches doesn´t work here. It will always be the rags.
gipper
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Wealth inequality in the US is off the charts, as the video clearly reveals. I suspect more and more Americans are realizing the game is rigged, but many still cling to the ignorant belief we live in a free market capitalist society and as such, the extreme wealthy fairly and justly EARNED their fantastic wealth. And they foolishly believe all Americans have an equal and fair shot at attaining enormous wealth.
The even bigger problem than wealth inequality is the fact that in America, wealth equals political power. Hence the billionaires (oligarchs) really run the country, which explains why our country is so screwed up.
Bleipriester
Freedom!
- Thread starter
- #13
Although the article highlights China, there are very important news for us. Read about how the wealth has increased over time. It firstly sounds like we are entering the golden age. But 2/3 of that new wealth goes to the rich while the prices increased by 50 %. So you get a 33 % increase in income but a 50 % increase of the prices. That means, plain and simple, a 17 % decrease of your wealth. My can´t decrease, though, I never got one.
Blues Man
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Your beliefs seal your fate.
I went from being orphaned at 14 and living in the streets to owning my own business and retiring at 51.
Bleipriester
Freedom!
- Thread starter
- #15
That is very good for you and you can be proud. But we have our own reality here:
Social Mobility Opportunities Particularly Poor in Germany - Fair Observer
There are few industrialised nations in which the opportunities for upward mobility are as unevenly distributed as in Germany. A new academic expert report outlines the biggest obstacles to upward mobility in people's life trajectories. At the invitation of the Vodafone Stiftung Deutschland...
www.fairobserver.com
Mac1958
Diamond Member
Well, let's look at the numbers, shall we?
If you began investing a given amount (below) in an S&P index fund (say, SPY) on November 20, 2001 (during the Dot Com mess), here's how it looks:
Between 11/21/2001 and today, the S&P 500 is up exactly 7.31% annualized. If your contributions (or your contributions and your employer's 401K contributions) were as follows, here are your numbers:
$300 total per month = $162,295
$500 total per month = $270,491
$700 total per month = $378,687
"Rich" is in the eye of the beholder, but budgeting, the job you take, and investing are up to the individual.
If you began investing a given amount (below) in an S&P index fund (say, SPY) on November 20, 2001 (during the Dot Com mess), here's how it looks:
Between 11/21/2001 and today, the S&P 500 is up exactly 7.31% annualized. If your contributions (or your contributions and your employer's 401K contributions) were as follows, here are your numbers:
$300 total per month = $162,295
$500 total per month = $270,491
$700 total per month = $378,687
"Rich" is in the eye of the beholder, but budgeting, the job you take, and investing are up to the individual.
Blues Man
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I guess it sucks to live in Germany.That is very good for you and you can be proud. But we have our own reality here:
Social Mobility Opportunities Particularly Poor in Germany - Fair Observer
There are few industrialised nations in which the opportunities for upward mobility are as unevenly distributed as in Germany. A new academic expert report outlines the biggest obstacles to upward mobility in people's life trajectories. At the invitation of the Vodafone Stiftung Deutschland...
Maybe you should move.
playtime
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- Aug 18, 2015
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'rich' by the conventional meaning ... no.
but, i own my home ( no mortgage ), own 3 vehicles that we paid cash outright for ( no loans ) & pay off our credit cards in full every month.
staying within our means has allowed us to be quite comfy.
but, i own my home ( no mortgage ), own 3 vehicles that we paid cash outright for ( no loans ) & pay off our credit cards in full every month.
staying within our means has allowed us to be quite comfy.
Blues Man
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I think most people just don't realize that they don't need a lot of money to live on if they have no debt.
xband
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I got rich in 2008 at the height of the stock market crash using tactics no longer legal, day trader?Me not. How can I get rich when the rich grab two thirds of the wealth and the prices rose by 50%? HOW?!
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