Why am I Poor? It is all your fault!!! But why is a Janitor worth 8 million Dollars then?
Posted by woodlema 8 years, 12 months ago to Philosophy
Who who is to blame for your personal poverty, provided you actually have a REAL definition for "poverty or poor."
Secret millionaire: Vermont janitor bequeaths fortune to hospital, library
http://www.today.com/news/secret-million...
How a high school dropout became a multi-millionaire entrepreneur
https://www.techinasia.com/high-school-d...
100 Top Entrepreneurs Who Succeeded Without A College Degree
http://elitedaily.com/news/business/100-...
Richard Branson, and Simon Cowell both high school dropouts.
So what is it about these people, poor, and no “formal” education, which allowed them to get filthy stinking rich?
7 traits the rich have in common
http://money.cnn.com/2014/06/01/luxury/r...
21 Ways Rich People Think Differently
http://www.businessinsider.com/how-rich-...
1. Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil.
2. Average people think selfishness is a vice. Rich people think selfishness is a virtue.
3. Average people have a lottery mentality. Rich people have an action mentality.
4. Average people think the road to riches is paved with formal education. Rich people believe in acquiring specific knowledge.
5. Average people long for the good old days. Rich people dream of the future.
6. Average people see money through the eyes of emotion. Rich people think about money logically.
7. Average people earn money doing things they don't love. Rich people follow their passion.
8. Average people set low expectations so they're never disappointed. Rich people are up for the challenge.
9. Average people believe you have to DO something to get rich. Rich people believe you have to BE something to get rich.
10. Average people believe you need money to make money. Rich people use other people's money.
11. Average people believe the markets are driven by logic and strategy. Rich people know they're driven by emotion and greed.
12. Average people live beyond their means. Rich people live below theirs.
13. Average people teach their children how to survive. Rich people teach their kids to get rich.
14. Average people let money stress them out. Rich people find peace of mind in wealth.
15. Average people would rather be entertained than educated. Rich people would rather be educated than entertained.
16. Average people think rich people are snobs. Rich people just want to surround themselves with like-minded people.
17. Average people focus on saving. Rich people focus on earning.
18. Average people play it safe with money. Rich people know when to take risks.
19. Average people love to be comfortable. Rich people find comfort in uncertainty.
20. Average people never make the connection between money and health. Rich people know money can save your life.
21. Average people believe they must choose between a great family and being rich. Rich people know you can have it all.
Common Traits of Broke People
http://oddtodd.com/message880.html
Perhaps is these things were taught not only by all parents but by all schools, we would start to see a decrease in poverty.
BUT keep in mind, those in power do not want a well-educated constituency, since then they lose their power and grip on the people.
Secret millionaire: Vermont janitor bequeaths fortune to hospital, library
http://www.today.com/news/secret-million...
How a high school dropout became a multi-millionaire entrepreneur
https://www.techinasia.com/high-school-d...
100 Top Entrepreneurs Who Succeeded Without A College Degree
http://elitedaily.com/news/business/100-...
Richard Branson, and Simon Cowell both high school dropouts.
So what is it about these people, poor, and no “formal” education, which allowed them to get filthy stinking rich?
7 traits the rich have in common
http://money.cnn.com/2014/06/01/luxury/r...
21 Ways Rich People Think Differently
http://www.businessinsider.com/how-rich-...
1. Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil.
2. Average people think selfishness is a vice. Rich people think selfishness is a virtue.
3. Average people have a lottery mentality. Rich people have an action mentality.
4. Average people think the road to riches is paved with formal education. Rich people believe in acquiring specific knowledge.
5. Average people long for the good old days. Rich people dream of the future.
6. Average people see money through the eyes of emotion. Rich people think about money logically.
7. Average people earn money doing things they don't love. Rich people follow their passion.
8. Average people set low expectations so they're never disappointed. Rich people are up for the challenge.
9. Average people believe you have to DO something to get rich. Rich people believe you have to BE something to get rich.
10. Average people believe you need money to make money. Rich people use other people's money.
11. Average people believe the markets are driven by logic and strategy. Rich people know they're driven by emotion and greed.
12. Average people live beyond their means. Rich people live below theirs.
13. Average people teach their children how to survive. Rich people teach their kids to get rich.
14. Average people let money stress them out. Rich people find peace of mind in wealth.
15. Average people would rather be entertained than educated. Rich people would rather be educated than entertained.
16. Average people think rich people are snobs. Rich people just want to surround themselves with like-minded people.
17. Average people focus on saving. Rich people focus on earning.
18. Average people play it safe with money. Rich people know when to take risks.
19. Average people love to be comfortable. Rich people find comfort in uncertainty.
20. Average people never make the connection between money and health. Rich people know money can save your life.
21. Average people believe they must choose between a great family and being rich. Rich people know you can have it all.
Common Traits of Broke People
http://oddtodd.com/message880.html
Perhaps is these things were taught not only by all parents but by all schools, we would start to see a decrease in poverty.
BUT keep in mind, those in power do not want a well-educated constituency, since then they lose their power and grip on the people.
I like that he gave to the library. I love libraries.
Assume that this WWII vet earns around $22,500 (in today's dollars) most of of his life and puts 10% in investments. He article says he starts working right out of high-school in 1940 and keeps working until 1996. Assume he earns a 7% after-tax and after-inflation return, which is consistent with the performance of a good portfolio. That puts him being worth $1.2M at 1996. He doesn't spend that much, so it keeps growing during his 19 years of retirement. The article says he was an investing wiz, so say he earns 11%, which is hard but not impossible. That puts him at $6M in '96. Then it keeps growing and he has a great retirement and dies with $8M.
That math shows anyone who's able to work and consistently make good financial decisions can do it.