How do people get rich?

badboyblast

Peatys wrote: »

I worked for a company that charged mega bucks for me to work on customers sites.

Salary didn't cover our mortgage/crèche/diesel etc... Sold a lot of our stuff to make payments

One Friday, i was working late in GE Carrigtwohill to save my firm having to organise attendance for the following week, i got back to ashbourne in the early hours, bought a bag of chips in the chipper on the company card.

A month later the accountant was going through the card and flagged the €3 charge. I told her to talk to my manager who i had talked to the Monday.

She kicked up such a stink my manager told me I'd have to pay back the cash. Damage done, i started my own validation company and sent an email to my site contacts thanking them for all the help over the previous 10 years.

I now make the same money that i used to make for my employers, but it goes into my coffers, not theirs.

My wife is now able to leave her job in ifsc/no commute, and do all our back office work from home and the kids are out of 7am-6pm crèche and into 3 hr preschool.

Love hearing stories like this , well done

Debtocracy

Deleted User wrote: »

I can fully see what you mean and wish I had the same mentality, it may come with age (hopefully). There is no way though that all else being equal (i.e. all your family and friends being happy and healthy) that it wouldn’t be better to be rich in a monetary sense. Being able to have a beautiful home, lots of fancy holidays, nice car, dinners and expensive nights out, spa days,etc. With all else being equal (as in not working all day every day) that is better surely than just appreciating basic living?

If given the choice, everyone would like more money. But getting what we want does not equate to happiness.

I hear the phrase a lot 'Money doesn't buy happiness but it gives you choice, freedom etc. and that does'. The research would tend to falsify this theory as the very wealthy tend to be no more happy than the middle class.

https://www.nature.com/articles/s41562-017-0277-0

Wealth influences happiness by avoiding the stress of poverty, but once you get into the range of middle class this no longer matters. Mansions, boats, beautiful women etc. are all subject to hedonic adaptation. Give it a few months and it all becomes 'meh'

Avatar MIA

Debtocracy wrote: »

Mansions, boats, beautiful women etc. are all subject to hedonic adaptation. Give it a few months and it all becomes 'meh'

But, WHAT a few months :pac:

DEFTLEFTHAND

How much does personlity come into it I wonder?

If you look at self made mega rich they always seem to be strong, assertive, highly ambitious,huge work ethic, leaders.Etc

DEFTLEFTHAND

DEFTLEFTHAND wrote: »

How much does personlity come into it I wonder?

If you look at self made mega rich they always seem to be strong, assertive, highly ambitious,huge work ethic, leaders.Etc

I agree. And the people who find it hard to settle for less have that sort of personality too. People who are happy to live in the moment and see the glass as half full maybe just have totally different personalities to those that also feel there is more to be done? I’m not sure but it’s seems to be more than just deciding to appreciate what you have.

Andrew Beef

Wealth for me means being able to do what I want to do when I want to do it without having to check my bank account.

It also means making enough money to ensure that at least my kids and their kids can have comfortable lives.

Bob_Marley

Rich ?

Rich in what exactly ?

$$ Money, bling, stuff, headaches, ruthlessness, accountants, financial advisers and skimmers, staff problems, and security systems $$

or health, fitness, life experience, wisdom, simplicity, freedom, dignity, love, thankfulness, knowledge, decency, peacefulness, family, friends ?

Avatar MIA

Andrew Beef wrote: »

Wealth for me means being able to do what I want to do when I want to do it without having to check my bank account.

It also means making enough money to ensure that at least my kids and their kids can have comfortable lives.

Yip, my plan is to put the kids through uni, possibly a few quid for a deposit and skid into the grave with just enough to pay for the hole in the ground. To hell with featuring in the paper leaving a huge legacy. That's a life fail!:D

mulbot

Bob_Marley wrote: »

Rich ?

Rich in what exactly ?

$$ Money, bling, stuff, headaches, ruthlessness, accountants, financial advisers and skimmers, staff problems, and security systems $$

or health, fitness, life experience, wisdom, simplicity, freedom, dignity, love, thankfulness, knowledge, decency, peacefulness, family, friends ?

The "or" suggests you think that people being rich in money can't have any of the traits in your last paragraph(health,fitness etc). Of course they can,it's all down to the personality of the person.

Andrew Beef

Avatar MIA wrote: »

Andrew Beef wrote: »

Wealth for me means being able to do what I want to do when I want to do it without having to check my bank account.

It also means making enough money to ensure that at least my kids and their kids can have comfortable lives.

Yip, my plan is to put the kids through uni, possibly a few quid for a deposit and skid into the grave with just enough to pay for the hole in the ground. To hell with featuring in the paper leaving a huge legacy. That's a life fail!:D

Not if you’ve spent a truckload yourself along the way!

Bob_Marley

mulbot wrote: »

The "or" suggests you think that people being rich in money can't have any of the traits in your last paragraph(health,fitness etc). Of course they can,it's all down to the personality of the person.

You cannot serve two masters, I've seen it time and time again, money doesn't buy the pearl of great price. You cannot buy the best things in life.

Bob_Marley

Deleted User wrote: »

There is no way though that all else being equal (i.e. all your family and friends being happy and healthy) that it wouldn’t be better to be rich in a monetary sense. Being able to have a beautiful home, lots of fancy holidays, nice car, dinners and expensive nights out, spa days,etc. With all else being equal (as in not working all day every day) that is better surely than just appreciating basic living?

You'd think so wouldn't you ? But having been there and done all that, it's not what it's cracked up to be. One of the advantages of getting older is getting richer in understanding. No price can be put on appreciating the best things in life that cannot be bought with money anyway. And whatever money you do manage to accumulate - in the end, most if it will go to the government, scalpers, or nursing home at the rate of 1,000 per week.

FTA69

Solomon Pleasant wrote: »

The reason for this is that Bezos absolutely loves the process. He’s addicted to it. When you’re that good and successful at something, it’s difficult to quit.

He isn’t a corporate drone just marking time like the vast majority of people, he’s a visionary who is shaping the future of commerce on this planet.

This is the difference. He isn’t simply “in the office” - He’s creating something which most people will never even comprehend, never mind become involved in.

Yeah and his workers in the U.K. are on zero-hours contracts, p*ssing themselves at work and staggering into work with the flu because they have no sick pay. Amazon is one of the worst employers in Britain, the richest man in the world paying less than a living wage.

21st century production with 19th century conditions. Grand chap altogether. It’s all well and good denigrating “corporate drones” when they’re the ones making him his money.

branie2

By working very hard or winning the Lotto

Solomon Pleasant

FTA69 wrote: »

Yeah and his workers in the U.K. are on zero-hours contracts, p*ssing themselves at work and staggering into work with the flu because they have no sick pay. Amazon is one of the worst employers in Britain, the richest man in the world paying less than a living wage.

21st century production with 19th century conditions. Grand chap altogether. It’s all well and good denigrating “corporate drones” when they’re the ones making him his money.

Look, what i said was true. What you’re saying is also true. Jeff Bezos is hardly the only billionaire doing that, not that it makes it okay. The people at the top of the corporate food chain are the only ones who really win, it’s always been that way.

There’s a quote which sums it up:

“Despite all of the technological improvements, we don’t really work any less, do we?”

We’ve just become more efficient for the billionaires who run our lives. It’s their world, we’re just surviving in it.

Bracken81

I know a fair few very rich people.........all of them work 70+ hours a week, even into their 60s

Mega bucks aint going to land on your lap, if your only doing a 40 hour work week imo

Bob_Marley

On thing I'd advise, which I appreciate is getting harder, is to own the roof over you head and the land it's on. Even if it's a small property somewhere where property is cheaper.

If you don't own you're own home, everyone from governments to corporations can easily manipulate and control you. - Hence the general agenda in the west to make home ownership as out of reach as possible, or to try and take homes away from people when they are old.

Also the cheaper you can live, the freer, more independent, and harder to control and manipulate you will be.

Solomon Pleasant

I’ve been reading “The 4-Hour Work Week” by Timothy Ferris over the last few days.

The goal is, as the title suggests, to attain a lifestyle which means you only work 4 hours per weeks and eventually not working at all. I’m only halfway through it, so I’ll reserve judgment but so far it has been insightful.

As always with these kind of books, the ultimate acid test is if the reader actually attempts and completes what the books intends to teach.

Naos

Zerbini Blewitt wrote: »

Yes, I heard this charlatan plugging this book when it was released years ago.

The bolded bit is 90 to 95% of the population. Unfortunately, its just the usual US pop-psychology / pull yourself up by the bootstrap self-help BS book!

i.e. In this setting - do you try to borrow €100,000 from AIB Termonfeckin to start this prosperity consciousness ball rolling?

What if that AIB bank manager tells you to go f*ck yourself.

What then?

If I asked you, if you could get €100,000 together in two day from whenever you read this, could you?

dxhound2005

Bob_Marley wrote: »

On thing I'd advise, which I appreciate is getting harder, is to own the roof over you head and the land it's on. Even if it's a small property somewhere where property is cheaper.

If you don't own you're own home, everyone from governments to corporations can easily manipulate and control you. - Hence the general agenda in the west to make home ownership as out of reach as possible, or to try and take homes away from people when they are old.

Also the cheaper you can live, the freer, more independent, and harder to control and manipulate you will be.

I don't know about the "west" or coporations, but in Ireland in recent years more people have achieved outright private ownership of their homes than in the past. Those with mortgages can generally expect to achieve that also. It is not something which is being put out of the reach of the population at all.

http://www.cso.ie/en/releasesandpublications/ep/p-cp1hii/cp1hii/tr/

In general the way to become richer / more well off / less poor, lies in money out rather than money in. By making some small changes in their outgoings, many households could easily save €100,000 over the course of 40 years. One example is someone smoking 20 cigarettes a day for 40 years. At today's prices , that costs €160,000. €6.5 billion is spent on alcohol per year, about €1300 for every man woman and child. Some people could save on this expenditure, if they are interested in having more money.

Bob_Marley

dxhound2005 wrote: »

I don't know about the "west" or coporations, but in Ireland in recent years more people have achieved outright private ownership of their homes than in the past. Those with mortgages can generally expect to achieve that also. It is not something which is being put out of the reach of the population at all.

http://www.cso.ie/en/releasesandpublications/ep/p-cp1hii/cp1hii/tr/

Young FG or Young FF ?
Did you read the link you posted ? Home ownership rates are falling. Most employment is only in Dublin now, but most young professionals cannot afford to own their own home there anymore.

harry Bailey esq

[Deleted User] wrote: »

I am so fed up with just about making ends meet month to month. What jobs are the wealthy people doing? Do they work multiple jobs? When I take on more hours I get caught with tax so it ends up making only a small difference which is disheartening. Lots of people in the same situation I am sure has anyone any tips on how to get out of this situation? Career change perhaps? I live frugally so can’t cut back anywhere else.

Have a drunken argument with your pals down the local. Move to Co. Kerry, become a TD.

Cheerful Spring

Deleted User wrote: »

I am so fed up with just about making ends meet month to month. What jobs are the wealthy people doing? Do they work multiple jobs? When I take on more hours I get caught with tax so it ends up making only a small difference which is disheartening. Lots of people in the same situation I am sure has anyone any tips on how to get out of this situation? Career change perhaps? I live frugally so can’t cut back anywhere else.

Few of my friends are Accountants and Teachers. I would not class them as rich, but they are well off making over 100,000 to 150,000 a year. They got those jobs by working hard and going to university to get degrees. Their jobs have not changed their Personality. When they are out with friends., they still up for the craic. The only time I notice them quieter is when the other half is out with them on a night out haha. The only way to make more money is to have a better career or win the lotto or inherit money. More money is not necessarily going to make you happier. I know a couple of people (men) who committed suicide. One of those blokes had a wife 2 kids, a big house worth 500,000 and a good job, he ended up killing himself and reason for it still not fully known. I think people should be happy what they got in life and just enjoy life. When you die nobody going to give a crap you had 018 car or 500,000 house that was bigger than all your neighbours. I understand everyone is not the same and making money maybe is important to you more than anything?

Koala Sunshine

Solomon Pleasant wrote: »

Look, what i said was true. What you’re saying is also true. Jeff Bezos is hardly the only billionaire doing that, not that it makes it okay. The people at the top of the corporate food chain are the only ones who really win, it’s always been that way.

There’s a quote which sums it up:

“Despite all of the technological improvements, we don’t really work any less, do we?”

We’ve just become more efficient for the billionaires who run our lives. It’s their world, we’re just surviving in it.

We don't work less but you get more for your money now.

Solomon Pleasant

Tell that to the people trying to buy houses now compared to the 1990s.

bilbot79

Solomon Pleasant wrote: »

I’ve been reading “The 4-Hour Work Week” by Timothy Ferris over the last few days.

The goal is, as the title suggests, to attain a lifestyle which means you only work 4 hours per weeks and eventually not working at all. I’m only halfway through it, so I’ll reserve judgment but so far it has been insightful.

As always with these kind of books, the ultimate acid test is if the reader actually attempts and completes what the books intends to teach.

Otherwise known as lazy

Koala Sunshine

Solomon Pleasant wrote: »

Tell that to the people trying to buy houses now compared to the 1990s.

In general you get more in return per hour of unskilled work than in the nineties.

jigglypuffstuff

[Deleted User] wrote: »

I can fully see what you mean and wish I had the same mentality, it may come with age (hopefully). There is no way though that all else being equal (i.e. all your family and friends being happy and healthy) that it wouldn’t be better to be rich in a monetary sense. Being able to have a beautiful home, lots of fancy holidays, nice car, dinners and expensive nights out, spa days,etc. With all else being equal (as in not working all day every day) that is better surely than just appreciating basic living?

It's nothing to do with age, I'm still in my 20s

Better is subjective....I consider absolutely nothing that you've listed as important or worth my time being concerned about...food partially but it's never an issue..and fwiw I live on less than minimum wage yearly.. quite a bit less actually despite the fact I'm well educated

I don't need "a beautiful home" I have lived happily in a small apartment and can easily continue to do so....rented not bought

Holidays don't need to be fancy....I travel very rarely and when I do it's not an expensive endeavour... actually I wouldn't even label them "holidays" I haven't had a "holiday" in 11 year's since I was a kid...and id gladly never have another

I don't drive ( I have previously, but I see no point) and anyway...any " nice car " is usually an economically silly thing to buy as it will almost always depreciate vastly...if you need to drive a simple a-b runaround should suffice... anything after that is ego based

I eat very well, mostly organic and totally unprocessed for about 50 euros, often less

I don't do nights out....more unnecessary wastage of time and money...and I don't drink so id have no desire to be around those who do, or in any vicinity or atmosphere where such does take place. As for spa days...i think you get the picture from everything else I've listed

Your construct of rich is a result of mental programming (culture) Detach yourself from that and you may find yourself to be far "richer" than you perceive at present. It's a case of being happy with what you have...and believe me when I say this...I'd gladly settle for the above permanently as long as everyone is healthy and peaceful

Bubbaclaus

pone2012 wrote: »

It's nothing to do with age, I'm still in my 20s

Better is subjective....I consider absolutely nothing that you've listed as important or worth my time being concerned about...food partially but it's never an issue..and fwiw I live on less than minimum wage yearly.. quite a bit less actually despite the fact I'm well educated

I don't need "a beautiful home" I have lived happily in a small apartment and can easily continue to do so....rented not bought

Holidays don't need to be fancy....I travel very rarely and when I do it's not an expensive endeavour... actually I wouldn't even label them "holidays" I haven't had a "holiday" in 11 year's since I was a kid...and id gladly never have another

I don't drive ( I have previously, but I see no point) and anyway...any " nice car " is usually an economically silly thing to buy as it will almost always depreciate vastly...if you need to drive a simple a-b runaround should suffice... anything after that is ego based

I eat very well, mostly organic and totally unprocessed for about 50 euros, often less

I don't do nights out....more unnecessary wastage of time and money...and I don't drink so id have no desire to be around those who do, or in any vicinity or atmosphere where such does take place. As for spa days...i think you get the picture from everything else I've listed

Your construct of rich is a result of mental programming (culture) Detach yourself from that and you may find yourself to be far "richer" than you perceive at present. It's a case of being happy with what you have...and believe me when I say this...I'd gladly settle for the above permanently as long as everyone is healthy and peaceful

No holiday. No nights out. No treats. No nothing.

Some life.

smokingman

I wouldn't consider myself megarich but I don't usually need to look at the bank balance. I save a bit as part of that but when I need something big, I'll still need to pop into the credit union.
Thing is, I don't see the point of expensive holidays or things. I don't go to the pub but do have a drink at home at the weekends when I can catch up with good friends on the playstation and we talk shyte most of the time.
I think a lot of what I would consider "rich" people are actually in a lot of debt but they don't register it as much as others. One of the guys I work with has a 70,000 car and I really can't fathom why he would spend that on one. Another has a nice merc but is at least 15 years old and wouldn't have cost him that much considering.
What I'm saying is that people that look megarich, rarely are in my experience.
It's the ones driving average cars or not going on holidays all the time that usually have more in the bank.