Who says they are mutually exclusive? I'd rather be a rich man with integrity who gives my successors opportunities that I never had....wealth that will endure for generations as the middle class slowly erodes away...
SM
How is everyone so wealthy?
- Thread starter midlifeguy
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Who says they are mutually exclusive? I'd rather be a rich man with integrity who gives my successors opportunities that I never had....wealth that will endure for generations as the middle class slowly erodes away...
SM
Easily some of the wisest words ever written here on elitetrader.com.
I've saved your post to share with others.
Your goal is my goal. I hope others will join us.
I have no debt, but no credit either. :eek:
What you're missing is that you feel somehow entitled to being rich just because you busted your ass off. Working hard doesn't entitle you to anything in this world. You need to work smart and make the right decisions.
Two successful hard working friends are about to ski down a black diamond run at Vale on a beautiful sunny day. One guy says, "Gee, I wonder what all the poor people are doing right now?"
The other guy replies with a grin, "I don't know, but whatever it is, its too damn good for them".
The Painful Truth is wealthy people make good decisions MOST of the time and poor people make bad decisions MOST of the time.
There are exceptions, of course, on both sides. Examples of bad decisions that the poor do over and over and over again. Not stay in school, get pregnant too early in life, waste a high % of income on cig's, booze, & Lottery tickets; never save up enough money for a down payment on a house & always pay rent, get several women pregnant and have to pay child support, quit their job before getting another better job, quit their job and stay unemployed and build up a mountain of debt to friends, family and/or credit cards.
Sorry no PC here.
The other guy replies with a grin, "I don't know, but whatever it is, its too damn good for them".
The Painful Truth is wealthy people make good decisions MOST of the time and poor people make bad decisions MOST of the time.
There are exceptions, of course, on both sides. Examples of bad decisions that the poor do over and over and over again. Not stay in school, get pregnant too early in life, waste a high % of income on cig's, booze, & Lottery tickets; never save up enough money for a down payment on a house & always pay rent, get several women pregnant and have to pay child support, quit their job before getting another better job, quit their job and stay unemployed and build up a mountain of debt to friends, family and/or credit cards.
Sorry no PC here.
The rich get richer. The poor get poorer thats how it will always be. You need money to make money.
most Rich people went thru this before getting to where they are at, i know of 2 people that have been millionaires 3 times in their lives from different professions ( and close to bankruptcy )...from being the best insurance salesman ever to hit cali and then being the number one shark cartilage vitamin distributor in all of the US..banking 15 mill a year
Risk aversion is perhaps in the top 5 things that keep anyone from being rich...
Depends on what kind of risk you are taking.