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Income inequality and how the wealthy earn money.

by Odahh
4 replies
hello,

There is getting rich and building wealth . there are a lot of people who are in the top 5 percent of income earners but have no money on hand because they live in high cost of living areas .

The same people who jabber on endlessly about income inequality being a problem .. are correct about 1 thing . the wealthy do not make most of their money through their labor , but from investments that generate income .

Most people are not investors and have a complete misunderstanding of investing .so most who do invest just put it in a mutual fund where the fund managers make more money over time with their money than they do . the fund managers also shift all of the risk to the clients .

If you want to build wealth for a lifetime study asset classes you want to invest in . look for a thing you can buy and do something to increase the value and may generate an income before you sell it . or generate and income for life .
#earn #income #inequality #money #wealthy
  • Profile picture of the author tagiscom
    Originally Posted by Odahh View Post

    hello,

    There is getting rich and building wealth . there are a lot of people who are in the top 5 percent of income earners but have no money on hand because they live in high cost of living areas .

    The same people who jabber on endlessly about income inequality being a problem .. are correct about 1 thing . the wealthy do not make most of their money through their labor , but from investments that generate income .

    Most people are not investors and have a complete misunderstanding of investing .so most who do invest just put it in a mutual fund where the fund managers make more money over time with their money than they do . the fund managers also shift all of the risk to the clients .

    If you want to build wealth for a lifetime study asset classes you want to invest in . look for a thing you can buy and do something to increase the value and may generate an income before you sell it . or generate and income for life .
    True, most put it away into a 401k, or superfund, (AU) then realize that when they retire, there isn't enough to live on, and since their job is history, there is little chance of increasing it.

    And since they did nothing in investing in themselves, no backup plan. Well, there is, but p*** away 200k, on a condo scheme near the beach, and losing it all when the CEO decides to pull the plug, or let it go bankrupt isn't a sound plan.


    No people just seem to go overseas, get married or go to someone elses marridge, and do little else, apart from working for someone else.


    It has taken me almost 10 years online to figure out how to make it work, and when most retire and p**** away the money they get out of super, they will have to try to survive on the pension.

    I will be wealthy by then, and making more each day while l do whatever l want. I will probably go to the tropics a lot.


    Or have the "Press three buttons in your underwear to create wealth" but l will be fully clothed, and endured almost 10 years of failure, hard work, thousands down the drain, stupid people offering advise and other crap.

    It is Crucial in this world to have a backup plan, but most don't get it, til it is too late!

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  • Profile picture of the author hardraysnight
    "The guitar's all very well, John, but you'll never make a living out of it".
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  • Profile picture of the author Courage
    And they do that because they are a lot
    smarter than "Average" people. Also because
    they have a long time horizon, and are
    able to put off instant gratification. Unlike
    the 99%
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    • Profile picture of the author Odahh
      Originally Posted by Courage View Post

      And they do that because they are a lot
      smarter than "Average" people. Also because
      they have a long time horizon, and are
      able to put off instant gratification. Unlike
      the 99%
      right now i am 38 i have a reasonable expectation to live another 100 years with the coming medical advancements and i have been slowly shifting my life style according to what people who live 100 years and are healthy ..

      I have no expectation of retirement but even though i am starting from nothing ..literally .i might have 1500 usd in defaulted debt .but that is it when i chase it down to pay it of i will have no debt .

      Most people who live long live and stay healthy and mobile have work they enjoy doing and gets them out of bed in the morning. ..and because they live long they don't build their wealth expecting to die and pass it on to children they teach their children how to build wealth enough and do work that gives them meaning so each generation live a bit longer than the last .

      thankfully the research is there and anti aging research is coming along so people will stay younger and more vital longer ..which will only really be available or work for people who take care of their health and get off the path of the standard american diet that brings the standard american body and the standard american diseases .

      invest time and money into figuring out how to keep yourself healthy and i stay away from really invasive practices ..but that is personal .

      I know the lifestyle i want to have in the next 5-10 years i can have everything set up to be self supporting without needing an income or steady income for the rest of my life .
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