|
What seperates the rich from the poor? (pg. 4)
|
View this Thread in Original format
| shaolin_Z |
| @ Arbiter: Have you read the book I and other mentioned earlier by any chance? In case you have, any comments on it? |
|
|
| Arbiter |
| quote: | Originally posted by shaolin_Z
@ Arbiter: Have you read the book I and other mentioned earlier by any chance? In case you have, any comments on it? |
No, I haven't read it. I had heard mostly good things about it from a few people, but it sounded like a bit of a "pop economics" book and I tend to stay away from those "pop" types of books. |
|
|
| Lilith |
Oh come on, self analysis with pop psychology books and general hypocondria from reading stuff on the internet keeps the medical world turning, it can work for economics as well!
Oh wait, it did... in 1929 :haha: |
|
|
| shaolin_Z |
| quote: | Originally posted by Lilith
1929 |
:conf:
EDIT: I'm aweful when it comes to dates & names.
EDIT2: Great Depression? :conf: |
|
|
| Lilith |
Yes, basically a whole hell of a lot of little folks looking to make a buck on the stock market along with the bigger players. Market starts getting nervous and those without the common sense and bottle for a bit of lean time punch out en-masse.
Which was just one reason for things getting hard as people invested money looking to make money a lot less wisely than they perhaps should have, there where plenty of other reasons floating around for it as well. Stock market crash was part of the causes of the great depression (aside from trade declines and so on) but also one of the more individually important ones to people living at the time who had money which would normally be going toward retirement or in savings funds, tied up in shares.
Still see that sort of behaviour today with a lot of small investers in the stock market who punch out when things get a little rough. 2001 with the IT crash was a good example, people woke up and realised that IT and internet based companies where mostly a crock :p
Sadly it also chopped up a few good companies which where worth the money like Cisco, Intel and a couple of other hardware and software manufacturers. |
|
|
| shaolin_Z |
| The book isn't about investing in the stock market... |
|
|
| Johan (DJ Irish) |
| quote: | Originally posted by Krypton
You don't need a college degree to:
Invest in the stock market.
Buy & Sell Real Estate.
Start & run your own business.
Those are just three ways many smart people have become rich. And they all don't require a college degree. Just be open-minded, creative, and most of all, LEARN HOW TO MAKE MONEY FROM MONEY AND NOT FROM WORKING A 9-5 JOB. |
True, getting rich from those above mentioned methods don't necessarily require a college education but it definitely requires some money to start with. And isn't that the main problem with being poor in the first place?
Sometimes all these getting rich schemes sounds a tad bit simplistic. Sure there are examples of people with incredible succes stories as they started with nothing and then built them selves a respectful fortune but I would wager that is only a very very small percentage that actually manage to do something like that. And it doesn't make everybody else stupid. Some people have 3 jobs and are still in the lowest income brackets. Hardwork isn't allways rewarded with success.
In many cases you need money to make money |
|
|
| Shakka |
| quote: | Originally posted by Johan (DJ Irish)
In many cases you need money to make money |
That's what banks are for. But the bank can't make people with good ideas take risks. |
|
|
| Johan (DJ Irish) |
| quote: | Originally posted by Shakka
That's what banks are for. But the bank can't make people with good ideas take risks. |
True, they can't. But sometimes banks are not willing to let them take the risk to begin with. |
|
|
| Shakka |
| quote: | Originally posted by Johan (DJ Irish)
True, they can't. But sometimes banks are not willing to let them take the risk to begin with. |
In my experience, there is always another bank out there. Unless you are completely incompetent and have no idea of what you're doing, no bank is going to completely shut the door in your face. You may have to do some searching to find one that won't charge you an arm and a leg in interest, but there is usually someone out there that is willing to lend money. If banks don't lend, they have a hard time making money so they have every bit as much desire to lend you the money as you do to borrow it. And the banking industry is so fiercely competitive that banks have that much more incentive to get money out the door and into someone else's hands.
The hardest step for most people is simply putting a plan into action. It can be downright scary as hell! |
|
|
| Kapedan |
| quote: | Originally posted by Shakka
The hardest step for most people is simply putting a plan into action. It can be downright scary as hell! |
Thats very true. I'm on my way to my first business, and it is really though. You have to do your homework, and keep up with all the little things that will make this. It seems easier when you talk about it in words, but when its the time to take action, it gets a bit scary. Also, alot of people are afraid of failure, so they always look at the negative things to begin with. Most wealthy people have failed a couple of times at where they are now. |
|
|
| Krypton |
| quote: | Originally posted by AnotherWay83
:werd: that is the best way IMO to become truly wealthy. |
Exponential growth with investments, whereas the 9-5 is constant growth.
| quote: | True, getting rich from those above mentioned methods don't necessarily require a college education but it definitely requires some money to start with. And isn't that the main problem with being poor in the first place?
Sometimes all these getting rich schemes sounds a tad bit simplistic. Sure there are examples of people with incredible succes stories as they started with nothing and then built them selves a respectful fortune but I would wager that is only a very very small percentage that actually manage to do something like that. And it doesn't make everybody else stupid. Some people have 3 jobs and are still in the lowest income brackets. Hardwork isn't allways rewarded with success.
In many cases you need money to make money |
Of course you need money to make money. There are innumerable ways to make money. It's so easy to save a few thousand in a relatively short time. |
|
|
|
|
