The difference between rich people vs average people

[Anonymous]

Anonymous wrote:

If I have to think like that in order to be wealthy or "world class," I don't want it.

+1
What a bunch of bull crap interwoven with stereotypes and a few good pieces of advice obscured by a strange slant.

Enjoy Applebee's.

If that were the only place I could afford to eat out while still keeping my morals, gladly. The attitudes of wealthy people like the linked article and the people on this board make me ill.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Here's the only one you need to know (and it's proven nearly daily on DCUM):

"Average people live beyond their means. Rich people live below theirs."

So, what you want to do is have a LOT of means. Preferably from your parents or your spouse's parents.

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.

What is your HHI and what do you and your spouse do to earn money?

$400K, two lawyers We live on 50% of our net income.

Sorry, you're upper-middle class, not wealthy. You trade your life for money. Truly wealthy people come up with ways to earn money that don't involve selling hours of their lives.

You're vile.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
$400K, two lawyers We live on 50% of our net income.

That must be very easy
I live on a lot less than you, net income of 72 for 4 people
One day when I figure out how we can all live on half of that I will write a blog and tell the world

You have to go to law school and graduate at the top of your class. After that, you must sell your soul and time to the devil himself.

You forgot to say that I need to graduate from a private school and have legacy status and the school must have a phenomenal college counselor.

Not true at all. My spouse went to public schools all the way through, then a state university where counsellers were not that helpful, and then graduated from Harvard Law. Definitely no legacy or wealthy parents. Of course luck matters, but many people with the same opportunities have different outcomes based on work ethic, attitude, etc. Many factors matter.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Here's the only one you need to know (and it's proven nearly daily on DCUM):

"Average people live beyond their means. Rich people live below theirs."

So, what you want to do is have a LOT of means. Preferably from your parents or your spouse's parents.

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.

What is your HHI and what do you and your spouse do to earn money?

$400K, two lawyers We live on 50% of our net income.

Sorry, you're upper-middle class, not wealthy. You trade your life for money. Truly wealthy people come up with ways to earn money that don't involve selling hours of their lives.

Ah but because we invest so much of our income, we will be wealthy soon and be able to live off of unearned income. We already have almost 5 million dollars of invested assets.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
$400K, two lawyers We live on 50% of our net income.

That must be very easy
I live on a lot less than you, net income of 72 for 4 people
One day when I figure out how we can all live on half of that I will write a blog and tell the world

You think I don't work hard for that income? Of course I'm lucky I could take out loans for college and grad school and was born intelligent, but there's a lot of drive, determination and discipline involved.

[Anonymous]

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.

Lots of wisdom here. Thanks, PP!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
$400K, two lawyers We live on 50% of our net income.

That must be very easy
I live on a lot less than you, net income of 72 for 4 people
One day when I figure out how we can all live on half of that I will write a blog and tell the world

You think I don't work hard for that income? Of course I'm lucky I could take out loans for college and grad school and was born intelligent, but there's a lot of drive, determination and discipline involved.

Ok, you are better than others
Others have to channnel a lot of drive and determination to getting by, and they use intelligence to memorize the price of tables in different grocery stores.
Loans are a blesssing, we all know that. What we need next is public schools that are created equal

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Here's the only one you need to know (and it's proven nearly daily on DCUM):

"Average people live beyond their means. Rich people live below theirs."

So, what you want to do is have a LOT of means. Preferably from your parents or your spouse's parents.

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.

What is your HHI and what do you and your spouse do to earn money?

$400K, two lawyers We live on 50% of our net income.

Sorry, you're upper-middle class, not wealthy. You trade your life for money. Truly wealthy people come up with ways to earn money that don't involve selling hours of their lives.

Ah but because we invest so much of our income, we will be wealthy soon and be able to live off of unearned income. We already have almost 5 million dollars of invested assets.

You're saying your net worth is over $5 million and you don't consider yourself wealthy?

[Anonymous]

I do consider us wealthy. The smart ass poster I was responding to said I'm only upper middle class, because I sell hours for money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If I have to think like that in order to be wealthy or "world class," I don't want it.

+1
What a bunch of bull crap interwoven with stereotypes and a few good pieces of advice obscured by a strange slant.

I totally agree, except you should have said "condescending bull crap".

In addition, riddled with logical fallacies and contradictions.

[Anonymous]

Anonymous wrote:

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.

Um only less than 8% of wealth is inherited. Most people earn it.

Also if you don't have a passion for what you do you'll never be rich. It doesn't mean your passion will make you rich.

Oh please, the whole "passion" thing is a crock. My DH doesn't have a passion for what he does, but he likes it well enough and he's done it long enough to be good at it. He's also fallen into some great opportunities due to pure luck. His work has indeed made us rich by almost any standard. He plans to keep it up for a few more years until we have enough socked away that we can keep up our lifestyle without ever having to work again if we don't want to. THEN he will pursue his passion, which I can almost guarantee will not be particularly lucrative. We are lucky as shit and I am grateful every day. My DH is a great guy but we don't kid ourselves that he is some kind of superior human being. Oh and he reads novels! Lowbrow novels! Dude cannot get ENOUGH of Clive Cussler.

PP, I like you! Yes, the 'passion' thing is a crock, and yes, I also believe that circumstances matter way, way, way more that some people in this country want to admit. You know what they say, "Choose your parents carefully".

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
$400K, two lawyers We live on 50% of our net income.

That must be very easy
I live on a lot less than you, net income of 72 for 4 people
One day when I figure out how we can all live on half of that I will write a blog and tell the world

You think I don't work hard for that income? Of course I'm lucky I could take out loans for college and grad school and was born intelligent, but there's a lot of drive, determination and discipline involved.

PP, you were lucky from day 1 that you were not born with Down's syndrome, or you won't be sitting here bragging about your millions.

There is no such thing as 'equal opportunity', and it is totally delusional to deny this fact. Everyone is starting under different circumstances, even kids from the same family.