Lounge How was your day? Anything goes but please keep it PG-13!

How to amass a fortune...

Thread Tools
 
Search this Thread
 
Old 06-03-2009, 10:04 PM
  #11  
Contributors
Thread Starter
 
v_therussian's Avatar
 
Join Date: Aug 2008
Location: Zoo York
Posts: 9,986
Likes: 0
Received 0 Likes on 0 Posts
My Ride: Alpine White 2006 530Xi (SLD)
Default

Originally Posted by craigm1841' post='900446' date='Jun 4 2009, 01:57 AM
well i think family heritage/inheritance IS one of the number one places.

and it takes money to make money. extremely wealthy people usually amass their wealth from some chunk of wealth passed down.

THAT SAID, that is not always the case. Take my uncle for example. got in during the .com boom. started an internet provider company with 4 friends. it has become huge, he was the CEO, he made a fortune, sold half the company, he is now the President, and does incredibly well for himself. he works his ASS off every day and is a role model for any young entrepreneur. so HARD work. coupled with the right idea at the right time.

I think the simple answer is, there is no easy way to amass a fortune, or we would have all done it by now.

i think simply put, in 90% of cases, it takes money to make money. give me 10 bucks, i will turn it into 100 bucks in a few days, no problem. give me a hundred, i will make a thousand in a few weeks. give me 100,000 i think i could try to make a million in a year or two. the more money that is involved the trickier it gets.


i dont know, now i am not making a whole lot of sense.
I think we should exclude inheritance out of this discussion.

It is a GREAT point about having the right idea at the right time, though! But starting a business takes money too - so yes, money makes more money.
Old 06-03-2009, 10:05 PM
  #12  
Contributors
Thread Starter
 
v_therussian's Avatar
 
Join Date: Aug 2008
Location: Zoo York
Posts: 9,986
Likes: 0
Received 0 Likes on 0 Posts
My Ride: Alpine White 2006 530Xi (SLD)
Default

Originally Posted by garylewa' post='900450' date='Jun 4 2009, 02:03 AM
Like I stated previously; the wealthy work their tails off, they aren't waiting for a handout.
LOL I don't think anybody here believes in waiting for hand outs... unless, there are some GM execs in the house
Old 06-03-2009, 10:09 PM
  #13  
Contributors
 
garylewa's Avatar
 
Join Date: May 2008
Location: Toledo, OH.
Posts: 207
Likes: 0
Received 1 Like on 1 Post
Default

Originally Posted by v_therussian' post='900452' date='Jun 4 2009, 02:05 AM
LOL I don't think anybody here believes in waiting for hand outs... unless, there are some GM execs in the house
And to think I almost accepted a mechanical engineer position with them (GM) two years ago; that's scary
Old 06-03-2009, 10:12 PM
  #14  
Contributors
 
craigm1841's Avatar
 
Join Date: Dec 2008
Posts: 4,656
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by garylewa' post='900450' date='Jun 4 2009, 02:03 AM
Like I stated previously; the wealthy work their tails off, they aren't waiting for a handout.
I will repay your excellent Thomas Jefferson quote with a quote pertaining to this discussion. This was a quote on my myspace page for a while. I still might be there come to think of it:

?Success usually comes to those who are too busy to be looking for it.? -Henry David Thoreau
Old 06-03-2009, 10:16 PM
  #15  
Contributors
 
garylewa's Avatar
 
Join Date: May 2008
Location: Toledo, OH.
Posts: 207
Likes: 0
Received 1 Like on 1 Post
Default

Originally Posted by craigm1841' post='900458' date='Jun 4 2009, 02:12 AM
I will repay your excellent Thomas Jefferson quote with a quote pertaining to this discussion. This was a quote on my myspace page for a while. I still might be there come to think of it:

?Success usually comes to those who are too busy to be looking for it.? -Henry David Thoreau
So true. I am going to have to remember that one, thanks.
Old 06-03-2009, 10:21 PM
  #16  
Contributors
 
craigm1841's Avatar
 
Join Date: Dec 2008
Posts: 4,656
Likes: 0
Received 0 Likes on 0 Posts
Default

I did 7 years in the military, I am now a defense contractor making a great income in this economy for someone who hasnt finished school. I am going back to school full time while working full time. eventually get my MBA and apply for executive positions with defense contractors.

my brother has done nothing with his life and i cant help but thin he is waiting for my father to pass away. he has been taking handouts from my dad for years. I am 26, he is 24. i think in the end, my hard work throughout life will help me take what i am fortunate to receive and turn it into something much greater. he on the other hand will buy a few cars, a big ass house, party his ass off and file for bankruptcy within 5 years.

so regardless of where the money comes from, financial success has to be in the mindset of the individual, AND hard work is in line for the person who wants to ultimately achieve financial success.
Old 06-03-2009, 10:22 PM
  #17  
Contributors
Thread Starter
 
v_therussian's Avatar
 
Join Date: Aug 2008
Location: Zoo York
Posts: 9,986
Likes: 0
Received 0 Likes on 0 Posts
My Ride: Alpine White 2006 530Xi (SLD)
Default

Originally Posted by craigm1841' post='900458' date='Jun 4 2009, 02:12 AM
I will repay your excellent Thomas Jefferson quote with a quote pertaining to this discussion. This was a quote on my myspace page for a while. I still might be there come to think of it:

?Success usually comes to those who are too busy to be looking for it.? -Henry David Thoreau
Since we're all quoting here, Einstein said "its not that I'm smarter, I just stay with the problems longer"
Old 06-03-2009, 10:24 PM
  #18  
Contributors
 
craigm1841's Avatar
 
Join Date: Dec 2008
Posts: 4,656
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by v_therussian' post='900467' date='Jun 4 2009, 02:22 AM
Since we're all quoting here, Einstein said "its not that I'm smarter, I just stay with the problems longer"
and larry the cable guy said "git 'r' done"
Old 06-03-2009, 10:26 PM
  #19  
Contributors
Thread Starter
 
v_therussian's Avatar
 
Join Date: Aug 2008
Location: Zoo York
Posts: 9,986
Likes: 0
Received 0 Likes on 0 Posts
My Ride: Alpine White 2006 530Xi (SLD)
Default

Originally Posted by craigm1841' post='900469' date='Jun 4 2009, 02:24 AM
and larry the cable guy said "git 'r' done"
LOL
Old 06-03-2009, 10:34 PM
  #20  
Contributors
 
garylewa's Avatar
 
Join Date: May 2008
Location: Toledo, OH.
Posts: 207
Likes: 0
Received 1 Like on 1 Post
Default

Originally Posted by craigm1841' post='900466' date='Jun 4 2009, 02:21 AM
I did 7 years in the military, I am now a defense contractor making a great income in this economy for someone who hasnt finished school. I am going back to school full time while working full time. eventually get my MBA and apply for executive positions with defense contractors.

my brother has done nothing with his life and i cant help but thin he is waiting for my father to pass away. he has been taking handouts from my dad for years. I am 26, he is 24. i think in the end, my hard work throughout life will help me take what i am fortunate to receive and turn it into something much greater. he on the other hand will buy a few cars, a big ass house, party his ass off and file for bankruptcy within 5 years.

so regardless of where the money comes from, financial success has to be in the mindset of the individual, AND hard work is in line for the person who wants to achieve the ultimate financial success.
Do yourself a favor and finish college, that diploma, no one can take away from you.

Regarding your third paragaph: I had (noticed had) friends whose parents sent them to the best schools in the area and not one has done a damn thing with their life. I have other friends that sacrificed partying, the nice car or crotch rocket, etc. and now are gainfully employed and productive members of society. Self-interest is a good thing along with a positive attitude and hard work, intellect and knowledge never hurt anyone. If you have time, pick up a used copy of The Bell Curve by by the late Harvard psychologist Richard J. Herrnstein and American Enterprise Institute political scientist Charles Murray. It is a tough read but everything in that book is true. GL in your studies.


Quick Reply: How to amass a fortune...



All times are GMT -8. The time now is 07:11 AM.