The difference between rich people vs average people

[Anonymous]

Anonymous wrote:

Anonymous wrote:1. The middle class believe elections are determined by voters and ideas. The rich know they are determined by money, and that the more money you have, the more you can influence politics (so you can amass more).

2. The middle class believe you go to jail if you embezzle, cheat, or defraud people. The rich know that, if you're "too big to fail" you can do these things and be given more money.

3. The middle class think working hard is the key to success. The rich know nepotism and connections are the key to success.

This list has such a selection bias. My husband is a bankruptcy attorney, and for every famous gambler like Trump who's "lost millions and gained billions," there are hundreds of people who have internalized these "lessons" and who have taken on too much risk, have ruined their families, and who have to be bailed out by taxpayers. Most of the "lucky" people who take big risks and become wealthy have personal networks of wealthy and influential people who help them recover from downfalls and who provide opportunities middle class people will never receive.

Claiming wealthy people are wealthy because they are qualitatively better than the middle class is a pleasant fiction that the wealthy have every reason to propagate -- after all, if the middle class buy that story, the wealthy are "winners" who are to be admired, rather than people who have learned to game the system to enrich themselves at the expense of others.

You have a middle class mentality.

If "having a middle-class mentality" means living morally and having a personal code of ethics that doesn't justify outsourcing risks to taxpayers while hoarding rewards for myself, I guess so. Please excuse me as I vomit at your "rich" people circle-jerk.

P.S. As I mentioned, DH is an attorney and I work in tech. We're well-off but I would not say we're rich (we can't buy ourselves out of consequences like the very wealthy can, but have no debt and sizeable savings at 30).

[Anonymous]

Don't you know PP, morals and a code of ethics keep the average people average. A self imposed glass ceiling.

[Anonymous]

Anonymous wrote:Don't you know PP, morals and a code of ethics keep the average people average. A self imposed glass ceiling.

Yes! After all, if we all did what rich people did, who would be left to be exploited? There needs to be a big, stable base of ethical people -- I mean, middle class losers -- so that the rich can exploit them and make sh*ttons of money. Duh.

[Anonymous]

If your "means" is $700k a year, it is easy to live below it ans still have a nice lifestyle. If your "means" is $70k, it is not as easy.

[Anonymous]

Anonymous wrote:

Count me in as another born poor now rich. Don't know why so many DCUMers love to assume we inherited or married into wealth or were just darn lucky.

+1

But you ARE lucky, you just don't know it.

Have you every been hospitalized? For like, weeks and weeks? Had to go through months of physical therapy? Now, what if this happened when you had a crappy insurance policy or since you were in your early 20's (before Obamacare) you could afford insurance? Or what if your parent or family member had to rely on you for support for circumstances beyond their control? (Assistance for a mental health issue, help with medical bills, rent, etc.)

You ARE lucky in that your parents have not burdened you with their lack of planning. You ARE lucky in that you and your spouse are healthy or have adequate insurance coverage. You ARE lucky that you didn't get in a car accident and suffer serious nerve damage that renders you constantly in pain and unable to work.

Please stop living with your head in the sand. Luck has a LOT to do with it.

[Anonymous]

PP here...I mean 'in your early 20's (before Obamacare) when you could NOT afford insurance.

[Anonymous]

Anonymous wrote:This describes a certain type of wealthy person - the self-made entrepreneur type. Not all rich are like this. Many were born into money and do nothing very extraordinary with their lives.

Also, where is it written that following one's passion correlates with wealth? My passion is being a psychologist and helping people. I love what I do, but I'm certainly not in it for money.

But, if you wrote a pop-psych book, that helps people, then you'd be on the road....that's the difference.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Count me in as another born poor now rich. Don't know why so many DCUMers love to assume we inherited or married into wealth or were just darn lucky.

+1

But you ARE lucky, you just don't know it.

Have you every been hospitalized? For like, weeks and weeks? Had to go through months of physical therapy? Now, what if this happened when you had a crappy insurance policy or since you were in your early 20's (before Obamacare) you could afford insurance? Or what if your parent or family member had to rely on you for support for circumstances beyond their control? (Assistance for a mental health issue, help with medical bills, rent, etc.)

You ARE lucky in that your parents have not burdened you with their lack of planning. You ARE lucky in that you and your spouse are healthy or have adequate insurance coverage. You ARE lucky that you didn't get in a car accident and suffer serious nerve damage that renders you constantly in pain and unable to work.

Please stop living with your head in the sand. Luck has a LOT to do with it.

Totally agree! People who say "there's no luck, we're rich and we EARNED it!" are naive. No illnesses or accidents rendering a high earner unable to work. No special needs children or ailing parents requiring costly care before you've built a nest egg. No malicious boss out to destroy the high earner. Sure, some will say "but we HAVE had this and that!" Ok - but there's been luck involved in some aspects.
-rich and lucky

[Anonymous]

I just read the article and "on wow!" is this for real? It is almost like there is a troll on Yahoo rather than DCUM.

[Anonymous]

Anyone who finds that article very accurate needs to take a sociology course. While a few points are true--e.g., living below one's means--a lot are very specious. Not reading novels? That's just a dumb assertion.

[Anonymous]

pink slime

[Anonymous]

Anonymous wrote:If your "means" is $700k a year, it is easy to live below it ans still have a nice lifestyle. If your "means" is $70k, it is not as easy.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:This describes a certain type of wealthy person - the self-made entrepreneur type. Not all rich are like this. Many were born into money and do nothing very extraordinary with their lives.

Also, where is it written that following one's passion correlates with wealth? My passion is being a psychologist and helping people. I love what I do, but I'm certainly not in it for money.

But, if you wrote a pop-psych book, that helps people, then you'd be on the road....that's the difference.

Perhaps, and maybe I'll do that. But if being rich means I need to be like Dr. Laura or Dr. Phil then count me out!

[Anonymous]

Wow, it is surprising how many people here know nothing about wealth. Most of the people I know who are wealthy worked for themselves years ago (before it was trendy and meant nothing - as it is now). They had nothing for health coverage because that was the way it was. If they did get sick, it came out of pocket. Nd far less others were about schadenfreude.

They should call this board the Schadenfreude board. There are so many trying to find fault with others, its ridiculous. God forbid the next guy have more than you. Maybe they actually worked for it. If you believe in luck, you'll NEVER be wealthy!

[Anonymous]

Anonymous wrote:Wow, it is surprising how many people here know nothing about wealth. Most of the people I know who are wealthy worked for themselves years ago (before it was trendy and meant nothing - as it is now). They had nothing for health coverage because that was the way it was. If they did get sick, it came out of pocket. Nd far less others were about schadenfreude.

They should call this board the Schadenfreude board. There are so many trying to find fault with others, its ridiculous. God forbid the next guy have more than you. Maybe they actually worked for it. If you believe in luck, you'll NEVER be wealthy!

Agree. I think people who see themselves as a victim or the recipient of bad luck, like 10:57 writes, are the difference. Wealthy people get around obstacles. In fact, wealthy people are the people who were sick and then invented something new that others find useful when sick. It's attitude. And, when you're looking at others, you're focus is off.