How do people get rich?

garyskeepers

either way,, from owning my own business and working hard, and going to networking events and speaking to hundreds if not thousands of people on the subject, and even reading this thread, it is apparent that YES< rich is relative.

and in simple terms, what that means is,, there is a serious amount of people who think so little of themselves that they are afraid to take risks and try do better for themselves..

where are all the dreamers huh?

dr.fuzzenstein

garyskeepers wrote: »

either way,, from owning my own business and working hard, and going to networking events and speaking to hundreds if not thousands of people on the subject, and even reading this thread, it is apparent that YES< rich is relative.

and in simple terms, what that means is,, there is a serious amount of people who think so little of themselves that they are afraid to take risks and try do better for themselves..

where are all the dreamers huh?

Depends on the dream.
Some people are passionate about what they do and they want to be the best at it. That doesn't automatically mean rich.
Other people are investors and they don't care about the business, it could be car tires, confectionery, industrial tooling, a .com startup, a manufacturer of catflaps, irrelevant, they just see checks and balances. Money in and out. What sits in between is a black box to them.
It is my opinion that those are the rich people.

clfy39tzve8njq

Avatar MIA wrote:

Yes, rich is relative.

Usually a dead relative :-)

dr.fuzzenstein

How to geht rich:

A young man asked an old rich man how he made his money. The old guy fingered his worsted wool vest and said, "Well, son, it was 1932. The depth of the Great Depression. I was down to my last nickel. I invested that nickel in an apple. I spent the entire day polishing the apple and, at the end of the day, I sold the apple for ten cents. The next morning, I invested those ten cents in two apples. I spent the entire day polishing them and sold them at 5 pm for 20 cents. I continued this system for a month, by the end of which I'd accumulated a fortune of $1.37. Then my wife's father died and left us two million dollars."

Solomon Pleasant

Corporations gave us money, we gave them the world.

AndrewJRenko

Having spent a while in the multi-national corporate world, I've seen a few people become very comfortably wealthy, though a combination of good salaries with strong benefits and stock ownership schemes.

If you can climb the greasy corporate ladder in whatever your area of functional expertise is, you can probably get to a €100k+ salary if you are at Director or Head of Function level. But along with the salary comes a strong benefits package - a good level of health insurance so you won't have any nasty (financial) shocks to deal with, salary protection/disability insurance through the pension scheme, so that's another cost you won't have to worry about, a good pension scheme with employer matching your contributions, and maybe even regular entertainment - some nice dinners and the odd junket all on the man's dollar, not coming out of your pocket.

The icing on the cake is the access to tax-efficient share schemes - share options and share purchase schemes. This can help to build up strong savings, which in turn can be invested elsewhere - maybe clearing off the mortgage early, or spreading your investments to get a diversified portfolio, or maybe getting into property - whatever it takes to build up a good base of assets.

These folks live a very nice lifestyle. They will have had to work hard to get to that level, though the quantity of work required to stay at that level varies by company and function. Some will be working all the hours and all the weekends, others will be off golfing for 'networking' fairly regularly.

The downside is the risk involved in corporate reorgs and takeovers. None of these positions are guaranteed for life, so you can find yourself at the wrong end of a redundancy package for reasons entirely outside your control.

RobbingBandit

LIE CHEAT AND STEAL

garyskeepers

There are some "easy" / easier ways of becoming wealthy in todays society//

Crypto currency, which i have not done./.. Get in early,, be very lucky, get out early, and repeat...

investing... buy stuff, wait for it to rise in price, sell it..

And Network Marketing... which in my opinion is the way ordinary people will make more money than they could imagine.. the only problem is. most people dont have the right mindset for it..


oh,,, and dont forget the lotto.. the lotto will make people rich, albeit temporarily

JupiterKid

I'd love to say hard work, dedication and education and yes, you can live comfortably on a decent salary with those ingredients but the vast majority of those who are very wealthy were very lucky in terms of investing or more likely inherited that wealth, or at least had a hugely beneficial head start in life.

Donald Trump didn't grow up in a ghetto...

Dr Brown

Most people who become rich are cute hoors.

Avatar MIA

Dr Brown wrote: »

Most people who become rich are cute hoors.

So some poor people would like to think.