Secrets of rich people

[Anonymous]

Anonymous wrote:

Anonymous wrote:Most on DCUM come from money

Even if they do, what behaviors did they grow up with to preserve and grow wealth?

Pay a lot of money to politicians to pass legislation that makes the rich richer while keeping the little guy down.


/s

[Anonymous]

I hope nobody has cited The Millionaire Next Door yet.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Think of your family -- your children and grandchildren, and the sacrifices your parents and grandparents made to get you where you are. What some would call "privilege" (such a silly term) is most often the result of previous generations of a family thinking about future generations of the family. I spend over $70k per year on private schools for my two children, max out my investments, but drive an old Toyota. I'd prefer to leave more for my children and grandchildren (and to teach them to do the same, as my father taught me) than to impress you with a Jaguar or Rolex.

Well let me see. My parents did make a good life for me but there was/is no wealth to pass on because their parents who worked hard and did their best did not inherit any wealth because their parents were sharecroppers who didn't inherit any wealth because their parents were slaves and their parents were slaves and their parents were slaves....

So your great-great grandparents were slaves?

Do you not realize how recent slavery was? A person born into slavery in 1850 could easily have a child born in 1880, a grandchild born in 1910, a great-grandchild born in 1940, and a great-great grandchild born in 1970. There are plenty of people alive today in their 70s and 80s (both black and white) who grew up with grandparents who remember slavery.

(I bet you also think that segregation and the Jim Crow era were long enough ago that of course it doesn't affect anyone's lives anymore, right? Despite the fact that anyone over 60 grew up in that era and most of the rest of us were raised by someone who was?)

AA people need to snap out of this victim mentality. Every immigrant that comes in this country starts off with less than the AAs. It does not matter if they are educated, not educated, immigrants, refugees, people with advance degrees or uneducated, people who can speak the language or not. Every. Single. One will make sure that their kids will end up assimilated and affluent in this nation. They will overcome a lot more TODAY then AA have to overcome TODAY.

Cannot keep living in the past. Take the opportunities that AAs before you have fought for and made available to you and build upon that.

I love when the AA history is whitesplained.

Case in point

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Think of your family -- your children and grandchildren, and the sacrifices your parents and grandparents made to get you where you are. What some would call "privilege" (such a silly term) is most often the result of previous generations of a family thinking about future generations of the family. I spend over $70k per year on private schools for my two children, max out my investments, but drive an old Toyota. I'd prefer to leave more for my children and grandchildren (and to teach them to do the same, as my father taught me) than to impress you with a Jaguar or Rolex.

Well let me see. My parents did make a good life for me but there was/is no wealth to pass on because their parents who worked hard and did their best did not inherit any wealth because their parents were sharecroppers who didn't inherit any wealth because their parents were slaves and their parents were slaves and their parents were slaves....

So your great-great grandparents were slaves?

Do you not realize how recent slavery was? A person born into slavery in 1850 could easily have a child born in 1880, a grandchild born in 1910, a great-grandchild born in 1940, and a great-great grandchild born in 1970. There are plenty of people alive today in their 70s and 80s (both black and white) who grew up with grandparents who remember slavery.

(I bet you also think that segregation and the Jim Crow era were long enough ago that of course it doesn't affect anyone's lives anymore, right? Despite the fact that anyone over 60 grew up in that era and most of the rest of us were raised by someone who was?)

AA people need to snap out of this victim mentality. Every immigrant that comes in this country starts off with less than the AAs. It does not matter if they are educated, not educated, immigrants, refugees, people with advance degrees or uneducated, people who can speak the language or not. Every. Single. One will make sure that their kids will end up assimilated and affluent in this nation. They will overcome a lot more TODAY then AA have to overcome TODAY.

Cannot keep living in the past. Take the opportunities that AAs before you have fought for and made available to you and build upon that.

It’s hard to compare generations of people to individuals who have come here from other countries. It doesn’t give the full picture.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Think of your family -- your children and grandchildren, and the sacrifices your parents and grandparents made to get you where you are. What some would call "privilege" (such a silly term) is most often the result of previous generations of a family thinking about future generations of the family. I spend over $70k per year on private schools for my two children, max out my investments, but drive an old Toyota. I'd prefer to leave more for my children and grandchildren (and to teach them to do the same, as my father taught me) than to impress you with a Jaguar or Rolex.

Well let me see. My parents did make a good life for me but there was/is no wealth to pass on because their parents who worked hard and did their best did not inherit any wealth because their parents were sharecroppers who didn't inherit any wealth because their parents were slaves and their parents were slaves and their parents were slaves....

So your great-great grandparents were slaves?

Do you not realize how recent slavery was? A person born into slavery in 1850 could easily have a child born in 1880, a grandchild born in 1910, a great-grandchild born in 1940, and a great-great grandchild born in 1970. There are plenty of people alive today in their 70s and 80s (both black and white) who grew up with grandparents who remember slavery.

(I bet you also think that segregation and the Jim Crow era were long enough ago that of course it doesn't affect anyone's lives anymore, right? Despite the fact that anyone over 60 grew up in that era and most of the rest of us were raised by someone who was?)

AA people need to snap out of this victim mentality. Every immigrant that comes in this country starts off with less than the AAs. It does not matter if they are educated, not educated, immigrants, refugees, people with advance degrees or uneducated, people who can speak the language or not. Every. Single. One will make sure that their kids will end up assimilated and affluent in this nation. They will overcome a lot more TODAY then AA have to overcome TODAY.

Cannot keep living in the past. Take the opportunities that AAs before you have fought for and made available to you and build upon that.

I love when the AA history is whitesplained.

Case in point

White people: both the cause of, and the solution to, all black people problems.

[Anonymous]

Anonymous wrote: White people: both the cause of, and the solution to, all black people problems.

In the meanwhile all other immigrants and poors are not waiting to be rescued by Whites. 30 more years and the Hispanics will not be the low performing or poor community. Unless, dole is contagious.

[Anonymous]

Anonymous wrote:

Anonymous wrote: White people: both the cause of, and the solution to, all black people problems.

In the meanwhile all other immigrants and poors are not waiting to be rescued by Whites. 30 more years and the Hispanics will not be the low performing or poor community. Unless, dole is contagious.

All other immigrants and poors come from different circumstances than black people here. Black people here are still treated poorly. Immigrants are seen as hard workers and blacks are seen as not. So not the truth when I think about my own co-workers.
White people treat American born black people badly, and many immigrants have joined them: "we work hard, why can't they?". I'm poor and an immigrant, but nobody has ever question me like people here question black people. My English sucks and I had no work papers for the longest time. None of it mattered when it came to getting a job. My whiteness got me those jobs. I've been offered a job while walking in the mall, I've got rentals because I have credit (I didn't) and so on. I don't know how to tell you all that I literally have that something extra that makes my life super easy. I suspect black people don't have it and quite the opposite - they have that something that makes everybody question them, and I question them too. I'm aware of it, I'm working on it, but it will not leave me any time soon or never.
"30 more years and the Hispanics will not be the low performing or poor community". Not the way they are now. They will be low class, middle class and UMC, just like any other group that has lived here for awhile.

[Anonymous]

Anonymous wrote:I hope nobody has cited The Millionaire Next Door yet.

Not sure because the thread is so long. I love that book. It's a little cheesy, but did the trick for me along with getting older and caring less about stuff and what people think.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: White people: both the cause of, and the solution to, all black people problems.

In the meanwhile all other immigrants and poors are not waiting to be rescued by Whites. 30 more years and the Hispanics will not be the low performing or poor community. Unless, dole is contagious.

All other immigrants and poors come from different circumstances than black people here. Black people here are still treated poorly. Immigrants are seen as hard workers and blacks are seen as not. So not the truth when I think about my own co-workers.
White people treat American born black people badly, and many immigrants have joined them: "we work hard, why can't they?". I'm poor and an immigrant, but nobody has ever question me like people here question black people. My English sucks and I had no work papers for the longest time. None of it mattered when it came to getting a job. My whiteness got me those jobs. I've been offered a job while walking in the mall, I've got rentals because I have credit (I didn't) and so on. I don't know how to tell you all that I literally have that something extra that makes my life super easy. I suspect black people don't have it and quite the opposite - they have that something that makes everybody question them, and I question them too. I'm aware of it, I'm working on it, but it will not leave me any time soon or never.
"30 more years and the Hispanics will not be the low performing or poor community". Not the way they are now. They will be low class, middle class and UMC, just like any other group that has lived here for awhile.

So how do you explain African inmigrants? Black as can be yet Nigerians are snagging tons of Ivy League spots in recent years. Their blackness doesn’t hold them back despite being new to America yet AAs born here 100-150 years after slavery claim blackness and slavery as excuses?? GTFO

[Anonymous]

Anonymous wrote:Max out retirement starting day 1 of a professional job;

Live below your means -- whether that's living on one salary/saving the other; or if you're single/or married but can't do the 1 salary thing -- make it a goal to save 25-50% of one salary at least.

And then what you save from living below your means -- invest it -- at least most of it.

Invest invest invest, even if it's $1000 here and $3000 there, it adds up. For example when I was at a job with a transit benefit, I kept track of how much I was saving by using company funded public transit vs. driving and parking each day -- subtracting out the days I drove anyway or took Uber. I kept track of the amount saved and every few months when that amount added up to $1500+, I threw it in the market. As I saw it, I'd be spending that amount anyway if the co. took away transit, so why not act like it's being "spent" now by throwing it in the market.

+1. I’ve done all of the above and got myself to a 7 figure net worth with no parental help (in fact had loans to pay off too) in a decade of working.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Think of your family -- your children and grandchildren, and the sacrifices your parents and grandparents made to get you where you are. What some would call "privilege" (such a silly term) is most often the result of previous generations of a family thinking about future generations of the family. I spend over $70k per year on private schools for my two children, max out my investments, but drive an old Toyota. I'd prefer to leave more for my children and grandchildren (and to teach them to do the same, as my father taught me) than to impress you with a Jaguar or Rolex.

Well let me see. My parents did make a good life for me but there was/is no wealth to pass on because their parents who worked hard and did their best did not inherit any wealth because their parents were sharecroppers who didn't inherit any wealth because their parents were slaves and their parents were slaves and their parents were slaves....

The whole narrative of this thread is innately classist/racist. Thank you for pointing this out.

In that vein, my great-grandparents were immigrant factory workers, my grandparents made nice middle-class lives (teachers, secretaries), and my parents and their siblings were the first generation to earn advanced degrees. Enough to make a nice income, but no inherited wealth. It does make a difference.

Yes, but now you will leave something to your kids, and then they leave more to their kids, etc., as opposed to spending it on a Jaguar or Rolex to impress the neighbors, etc. That is how wealth is built, over generations. Sure, some do it in a single generation -- Jobs, Bezos, Carnegie before them -- but for most it is based on sacrificing for yourself to benefit (and teach) future generations of your family. Then you'll just have to ignore some pitiable fool who calls the result of your multi-generational saving and sacrifice "privilege".

What the heck do you think "privilege" actually is? It's getting something better than other people for reasons other than your own merit/hard work/etc. Are you claiming that kids somehow "earn" or "deserve" or get to pick having richer or poorer parents when they're born? If not, that's the very definition of privilege. Some people start out with less advantages and resources than others through no fault of their own, others start out with more through no merit of their own.

My friend, are you rich? Apparently not. This thread was for secrets of rich people. And I'm telling you one --- think of yourself as part of a family, not as an individual. Wealth built up by a family does not confer a "privilege", but instead an obligation, on those born into it.

Oh, and by the way, the 1970s called, asking how you're enjoying your narcissistic individualism, no hassle divorce and fatherless families.

??? You're not making any sense. How does any of this change the fact that some people are born into having more resources than others, and that it's only human decency to acknowledge the fact that some people start out with that head start and others don't?

"some people are born into having more resources than others". No. NO.

Rich families have developed habits that allow them to save and pass on to their children. The way you say it above makes it sound like the newborn won the lottery, when in fact her/his wealth was planned by the family before the baby's own parents were born.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: White people: both the cause of, and the solution to, all black people problems.

In the meanwhile all other immigrants and poors are not waiting to be rescued by Whites. 30 more years and the Hispanics will not be the low performing or poor community. Unless, dole is contagious.

All other immigrants and poors come from different circumstances than black people here. Black people here are still treated poorly. Immigrants are seen as hard workers and blacks are seen as not. So not the truth when I think about my own co-workers.
White people treat American born black people badly, and many immigrants have joined them: "we work hard, why can't they?". I'm poor and an immigrant, but nobody has ever question me like people here question black people. My English sucks and I had no work papers for the longest time. None of it mattered when it came to getting a job. My whiteness got me those jobs. I've been offered a job while walking in the mall, I've got rentals because I have credit (I didn't) and so on. I don't know how to tell you all that I literally have that something extra that makes my life super easy. I suspect black people don't have it and quite the opposite - they have that something that makes everybody question them, and I question them too. I'm aware of it, I'm working on it, but it will not leave me any time soon or never.
"30 more years and the Hispanics will not be the low performing or poor community". Not the way they are now. They will be low class, middle class and UMC, just like any other group that has lived here for awhile.

So how do you explain African inmigrants? Black as can be yet Nigerians are snagging tons of Ivy League spots in recent years. Their blackness doesn’t hold them back despite being new to America yet AAs born here 100-150 years after slavery claim blackness and slavery as excuses?? GTFO

Many immigrants coming in from Africa are from wealthy families.

[Anonymous]

If I leave mu kids any less than a private school education, a few million dollars and the familial obligation to do the same for their kids, then I will die a failure. If that means I forego some travel and drive a Toyota, that's fine with me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: White people: both the cause of, and the solution to, all black people problems.

In the meanwhile all other immigrants and poors are not waiting to be rescued by Whites. 30 more years and the Hispanics will not be the low performing or poor community. Unless, dole is contagious.

All other immigrants and poors come from different circumstances than black people here. Black people here are still treated poorly. Immigrants are seen as hard workers and blacks are seen as not. So not the truth when I think about my own co-workers.
White people treat American born black people badly, and many immigrants have joined them: "we work hard, why can't they?". I'm poor and an immigrant, but nobody has ever question me like people here question black people. My English sucks and I had no work papers for the longest time. None of it mattered when it came to getting a job. My whiteness got me those jobs. I've been offered a job while walking in the mall, I've got rentals because I have credit (I didn't) and so on. I don't know how to tell you all that I literally have that something extra that makes my life super easy. I suspect black people don't have it and quite the opposite - they have that something that makes everybody question them, and I question them too. I'm aware of it, I'm working on it, but it will not leave me any time soon or never.
"30 more years and the Hispanics will not be the low performing or poor community". Not the way they are now. They will be low class, middle class and UMC, just like any other group that has lived here for awhile.

So how do you explain African inmigrants? Black as can be yet Nigerians are snagging tons of Ivy League spots in recent years. Their blackness doesn’t hold them back despite being new to America yet AAs born here 100-150 years after slavery claim blackness and slavery as excuses??GTFO

I'm so confused. You just answered your own question.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: White people: both the cause of, and the solution to, all black people problems.

In the meanwhile all other immigrants and poors are not waiting to be rescued by Whites. 30 more years and the Hispanics will not be the low performing or poor community. Unless, dole is contagious.

All other immigrants and poors come from different circumstances than black people here. Black people here are still treated poorly. Immigrants are seen as hard workers and blacks are seen as not. So not the truth when I think about my own co-workers.
White people treat American born black people badly, and many immigrants have joined them: "we work hard, why can't they?". I'm poor and an immigrant, but nobody has ever question me like people here question black people. My English sucks and I had no work papers for the longest time. None of it mattered when it came to getting a job. My whiteness got me those jobs. I've been offered a job while walking in the mall, I've got rentals because I have credit (I didn't) and so on. I don't know how to tell you all that I literally have that something extra that makes my life super easy. I suspect black people don't have it and quite the opposite - they have that something that makes everybody question them, and I question them too. I'm aware of it, I'm working on it, but it will not leave me any time soon or never.
"30 more years and the Hispanics will not be the low performing or poor community". Not the way they are now. They will be low class, middle class and UMC, just like any other group that has lived here for awhile.

So how do you explain African inmigrants? Black as can be yet Nigerians are snagging tons of Ivy League spots in recent years. Their blackness doesn’t hold them back despite being new to America yet AAs born here 100-150 years after slavery claim blackness and slavery as excuses??GTFO

I'm so confused. You just answered your own question.

How do you explain the relative success of African immigrants, who were not enslaved and abused 4-5 generations ago and systematically, legally discriminated against within the last 50 years? Um...It's hard to say really. I'm sure if we put our head together we can figure it out.