Look up most of the mega rich people now, even the "self-made" ones and you'll find 99/100 of them came from money.
The other way is luck. Be in the right place at the right time with the right skills to take opportunity's hand... and pull the ladder up behind you so nobody else can follow.
It's true. And any rich person that tells you otherwise is lying (potentially to themselves). This is why I am a big fan of Gary Stevenson who came from a working class background, got rich, and is now actively working his butt off trying to extend the ladder down to the rest of us. I recommend everyone read his book The Trading Game.
Any wealth I have was based on luck in real estate. Wasn’t even a skill I had, most of my down payment was an overage payment of student loans and the California lawsuit of the automotive industry in 2007-2008. Got paid out 2-3k from that alone
What are the real lyrics? I was going off of memory so it's more likely I was mishearing the mental playback in my head from probably over a decade ago when the last time I heard that song
Absolutely, if I had 2 million dollars (which if you ask me isn't that crazy anymore) and put it all into simple things like CD's at 4% for 1 year i would make $150k a year which I could just live off. After all taxes I would still walk away with more than I currently make yearly.
Now how do I get my hands on that? Anyone know anyone?
Also, if you’re like between 20-50 years old, there is a good chance just living off the interest generated from 2 million would not get you through your life when you factor in inflation.
My bad, you're right. I had it set to 2 years. Either way, I could seriously relax about giving a shit about my job if I had an extra 40-50k added on every year.
The investor class has been hoovering up all of the money, if you don't have money to invest in the stock market and are relying on wages alone then inflation is destroying your wealth. The US stock market is highly dependent on a few really shaky AI companies but it's also going to be the most resilient if/when everything goes south for everyone. Good luck everyone!
Ah yes, genius! Why doesn't everyone think of this...
Oh yeah, because the only reason that's possible is because there's less people there. There are less people there because there are less job opportunities. By definition not that many people that take advantage of that. There's simply not enough jobs available that will allow you to live there. If everyone could do that there would be no cost advantage. It worked out that you found a job that covers the cost of living in a low cost of living area. That is uncommon.
Honestly though. I wanted to look into starting a business some years ago and most everything required you to have ass loads of money before you could get a loan.
Bit of both, The White Room immediately came to mind and so I wanted to see if Clapton and others named their band after an acronym, only to discover that they didn't. So I made one: Clapton Really Eats Ass Mostly
Ive taken to just buying stuff if I can. Because stuff has actual value, and our money value is dropping like a rock. But real things especially in the technoligarch avian intelligence future, will be worth a lot more.
Its more like spend less money than you make and learn about low cost index investing. Obviously there are lower limits to that. Especially for families.
It's called compound growth and everybody has equal access to that. Getting the capital is the trick and it's not really easy to save a little consistently.
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That's nearly always been the way to make money.
Look up most of the mega rich people now, even the "self-made" ones and you'll find 99/100 of them came from money.
The other way is luck. Be in the right place at the right time with the right skills to take opportunity's hand... and pull the ladder up behind you so nobody else can follow.
It's true. And any rich person that tells you otherwise is lying (potentially to themselves). This is why I am a big fan of Gary Stevenson who came from a working class background, got rich, and is now actively working his butt off trying to extend the ladder down to the rest of us. I recommend everyone read his book The Trading Game.
Thats the bullshit with capitalism. The folks who started it and got in early won. The late joiners are fucked. Its a stupid ass system.
Like any other pyramid scheme, to be honest...
I would also be a self made millionaire had i been born with a million dollars.
Any wealth I have was based on luck in real estate. Wasn’t even a skill I had, most of my down payment was an overage payment of student loans and the California lawsuit of the automotive industry in 2007-2008. Got paid out 2-3k from that alone
"Cash Rules Everything Around Me" for anyone else who, like me, had no idea what the title acronym stood for.
Oh, I thought it meant "In a white room, with black CuRtains, dEvAstatioM"
Misheard lyrics, but better ones.
What are the real lyrics? I was going off of memory so it's more likely I was mishearing the mental playback in my head from probably over a decade ago when the last time I heard that song
(The Line breaks mean you pause as you recite the lyrics. This creates the proper cadence for the song)
In a white room
with Black curtains
At the Station
Black roof country
No gold pavements
Tired Starlings
Sliver Horses
ran down moonbeams
On your dark eyes
Dawn light smiles
On your leaving
My contentment
I'll wait
in this place
Where the sun
never shines
I wait
in this place
Where
The shadows
Run
From themselves
You said no strings
could secure you
at the station
Platform ticket,
restless diesels,
goodbye windows
I walked into,
such a sad time,
at the station
As I walked out,
felt my own need,
just beginning
I'll wait
in the queue
When the trains
Come back,
Lie with you
Where
The shadows
Run
From themselves
At the party,
She was kindness
In the hard crowd
Consolation
for the old wound
now forgotten
Yellow tigers
crouched in jungles
in her dark eyes
Now gets morning,
goodbye windows,
tired starlings
I'll sleep
in this place
with the
lonely crowd
Lie in the dark,
Where
The shadows
Run
From themselves
Oh, the word devastation really isn't in it... my bad then
Wu-Tang Clan ain't nothing to fuck with.
Dolla dolla bills, yall
Nothing makes money more then money
Capitalism!
God, the whole concept is just gross
Gross? I find it beautiful how you can ignore the entire capitalist system after you have enough capital.
dolla dolla bill y'all
Absolutely, if I had 2 million dollars (which if you ask me isn't that crazy anymore) and put it all into simple things like CD's at 4% for 1 year i would make $150k a year which I could just live off. After all taxes I would still walk away with more than I currently make yearly.
Now how do I get my hands on that? Anyone know anyone?
Have you tried asking your parents for money?
4% on 2 million is 80k.
Also, if you’re like between 20-50 years old, there is a good chance just living off the interest generated from 2 million would not get you through your life when you factor in inflation.
My bad, you're right. I had it set to 2 years. Either way, I could seriously relax about giving a shit about my job if I had an extra 40-50k added on every year.
The secret ingredient is crime.
Inheritance, get lucky, maybe hush money?
The investor class has been hoovering up all of the money, if you don't have money to invest in the stock market and are relying on wages alone then inflation is destroying your wealth. The US stock market is highly dependent on a few really shaky AI companies but it's also going to be the most resilient if/when everything goes south for everyone. Good luck everyone!
Usury used to be illegal, and IIRC, it is in some Muslim countries. But banks and such.
I moved to a place in the country where cost of living to pay ratio is better.
The problem is that by far most jobs are in the city.
I applied for jobs first and moved to the place where I got one.
Ah yes, genius! Why doesn't everyone think of this...
Oh yeah, because the only reason that's possible is because there's less people there. There are less people there because there are less job opportunities. By definition not that many people that take advantage of that. There's simply not enough jobs available that will allow you to live there. If everyone could do that there would be no cost advantage. It worked out that you found a job that covers the cost of living in a low cost of living area. That is uncommon.
That’s my plan right now
Well yeah that's how sprawling suburbs came to be. Most people work in cities but then they are often too expensive to live in.
Have you tried being retired, it's a great opportunity to live in cheaper environments because you don't interact with the local job market?
This is how capitalism worked from the beginning. Nothing new, just progressively worse and worse.
Honestly though. I wanted to look into starting a business some years ago and most everything required you to have ass loads of money before you could get a loan.
You need some collateral or else you might try to default on the bank
Crash Rude Elephants About Me
Is that a band name and song title, or are you experiencing aphasia? 🤔
Bit of both, The White Room immediately came to mind and so I wanted to see if Clapton and others named their band after an acronym, only to discover that they didn't. So I made one: Clapton Really Eats Ass Mostly
how to make 1 million?
start with two million!
Literally. Buy $2M 10 year treasuries at 5%, receive $100k interest every year for 10 years = $1million.
*2008--2027
Adam Smith------->today
*1981-2027
*0-
-10k I bet Göbekli Tepe had rich people problems
Probably explains all the smashed pottery lying around
*1980-?
Ive taken to just buying stuff if I can. Because stuff has actual value, and our money value is dropping like a rock. But real things especially in the technoligarch avian intelligence future, will be worth a lot more.
you forgot "steal 1 good idea to make billions then burn millions on your own 20 crappy ideas"
Fucking rocket sled Tesla trash. Like, the idiot that buys it will never drive it; it’s going to kill someone, if used daily.
"The last capitalist we hang shall be the one who sold us the rope."
But we'll need to GoFundMe for it.
In these trying times, I've come to enjoy stealing!
Don't we love capitalism!
Damn, was really hoping it was "crypto"
Trick or steal
Its more like spend less money than you make and learn about low cost index investing. Obviously there are lower limits to that. Especially for families.
Ah yes, investing, the thing that makes billionaires more powerful and that they control through investment firms. Good thinking!
It's called compound growth and everybody has equal access to that. Getting the capital is the trick and it's not really easy to save a little consistently.
Maybe somebody should tell landlords to leave families some money for investments after paying rent.
Maybe somebody should tell the state to build more affordable housing. People like voters...
The landlord has plenty of money to invest after your rent is paid, why should they want to change that?