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Financial Wealth

kcantankerous

4th Level Red Feather
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I want to know some of your thoughts about people who are financially wealthy? Do you believe they were born that way? Do you think anyone can become wealthy in life? Or do you think it's luck? To put it simply do you have the ability to become wealth? And if so, and your not, what is or has hindered you from achieving that wealth? If this question seems vague let me know and I'll elaborate. Same question if you believe you can't.
 
I think in the U.S. ....

...anyone can become wealthy if they are remotely competent. Luck can be involved (being born into wealth or winning the lottery). Many people with middle incomes can become wealthy based upon strict discipline with savings and the power of a return on your investment. Wealth of course, is relative. There are those politicians on the left who wish to take away the 'American Dream' through taxation. Tax the 'rich' to take care of the poor. As one accumulates money, even the best investors should always consult with a good accountant. Currently, as it stands, the U.S. is one of the few countries whereby one can obtain unlimited wealth.
 
I believe much in the same way. I look at it scientifically, what is the difference between bill gates or some of the self made wealthy people and us? Nothing anatomically speaking. But it seemed like when I was going through school I was steered toward becoming a doctor, lawyer, ect. I know it's because those are safe and profitable careers. But for those who want to say invest, or maybe become entreprenuers in highschool at any rate, it seemed to be discouraged. I'm sure it takes luck to become a major player in the world market, but to secure your financial future is more than possible in my book.
 
Anyone can be wealthy, but then again, anyone can win the lottery. The possibility of wealth doesn't mean much. The likelihood of wealth is everything. For the most part, America has the most economic mobility of any country. In other words, you have the best chance of becoming wealthy in this country as opposed to any other. However, that still doesn't mean that your likelihood of getting rich is significantly better by living here.

The typical interpretation of the "American Dream" is quite fantastical. Going from rags to riches happens, but not that often. It's far more likely that a poor person will move to the middle class rather than a middle class person will become wealthy. Poor people almost never get rich; it's far more likely that a rich person will become poor.

Getting rich is very much a situational phenomenon, so it's hard to come up with a general rule that accurately covers this overall occurrence. What history and my personal experiences have seemed to support is that getting rich involves a combination of business skills, personal connections, and luck. The luck part most blatantly applies to people that are born with money. One of the most successful people in the modern business world, Bill Gates, was born with money. Granted, he ended up raising far more money than he started with, but nonetheless, his business plans would have probably never gone anywhere without having ready access to the capital he needed.

As a final note, Jim's remark about the left demonstrates a sad truth about American culture. We have some of the lowest taxes in the First World, and yet, the rich still want lower taxes, because that's how greedy they are. They don't care if it means harming the rest of us through not having properly funded social programs.
 
Based on their income yes they pay less ratio wise, but the rich actually pay more if you look at it dollar and cents wise. When I was, and stil am, looking into business structures cause I plan on owning my own business one day, there are a whole lot of things to consider and a myriad of fees and what not. Tax breaks are suppose to be given to insight small businesses to get started and for rich businesses to stay within the US borders.
 
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