You wanted the secret to getting rich? Here it is
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change it to billionaire and I agree, people with $1m are not obscenely wealthy these days
In USA they're not, but most of rest of the world that'd be
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Forgot rich parents
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change it to billionaire and I agree, people with $1m are not obscenely wealthy these days
I know several (low) millionaires and none of them exploited other people's hard work. All of them are self-employed, and one of them is the single employee of their company.
Billionaires on the other hand. Yep, no way to get to a billion without heavy exploitation and sociopathic behavior.
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In USA they're not, but most of rest of the world that'd be
Most, sure, but Europe, Korea, Japan, Singapore, Australia, New Zealand and more are still a significant part of the world where $1M puts you firmly in the same "well-off and comfortable, but certainly not rich in the way billionaires are" territory you'd be in the US
Worldwide, I think it's definitely safe to say most millionaires' lifestyles are much closer to average than they are to billionaires' (ie still having to make regular payments for housing, but mortgage rather than rent, and still having to perform most tasks for themselves rather than having PAs to do it for them)
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This post did not contain any content.wrote last edited by [email protected]
It is easy to get rich, as long as you have the moral compass of a cactus.
First I'd code some malware that specifically targets old people to try to scam them out of money. With that money I'd short out companies on the brink of going bankrupt and help by doing things that cost them money but aren't technically illegal. With that money I'd start my own business selling crap bought from overseas, with students I can underpay, so I exploit both my customers and my workforce. Then with that money I'd bribe politicians to give me tax breaks.
There, now I am a multi millionaire.
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It is easy to get rich, as long as you have the moral compass of a cactus.
First I'd code some malware that specifically targets old people to try to scam them out of money. With that money I'd short out companies on the brink of going bankrupt and help by doing things that cost them money but aren't technically illegal. With that money I'd start my own business selling crap bought from overseas, with students I can underpay, so I exploit both my customers and my workforce. Then with that money I'd bribe politicians to give me tax breaks.
There, now I am a multi millionaire.
Sad but true that some people's need for success, money, and power allows them to rationalize their complete disregard for basic morality.
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change it to billionaire and I agree, people with $1m are not obscenely wealthy these days
The difference between a billion dollars and a million dollars is about a billion dollars.
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Forgot rich parents
True, but odds are that the parents also got rich by other people working hard for below a living wage and stay rich in the same way.
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It is easy to get rich, as long as you have the moral compass of a cactus.
First I'd code some malware that specifically targets old people to try to scam them out of money. With that money I'd short out companies on the brink of going bankrupt and help by doing things that cost them money but aren't technically illegal. With that money I'd start my own business selling crap bought from overseas, with students I can underpay, so I exploit both my customers and my workforce. Then with that money I'd bribe politicians to give me tax breaks.
There, now I am a multi millionaire.
I think you forgot to buy the Washington Post, but otherwise a pretty solid plan.
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Most, sure, but Europe, Korea, Japan, Singapore, Australia, New Zealand and more are still a significant part of the world where $1M puts you firmly in the same "well-off and comfortable, but certainly not rich in the way billionaires are" territory you'd be in the US
Worldwide, I think it's definitely safe to say most millionaires' lifestyles are much closer to average than they are to billionaires' (ie still having to make regular payments for housing, but mortgage rather than rent, and still having to perform most tasks for themselves rather than having PAs to do it for them)
If you have $1m, you can draw something like $30-40000 a year reasonably safely. That's obviously a lot of money, but isn't what most people in the mentioned countries think of as "living large" if it's your whole income, especially for a couple/family. That puts you at about the median individual income for Japan and NZ, a bit above in Korea, and below for most of western Europe and Aus.
Obviously that's without working, but that's kinda the point. It's wealth, but not enough that most people in those places would be comfortable not working if that's how much they earned. Hell, in the US that wouldn't even cover childcare for a few kids in many locales.
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Henry Ford would've begged to differ.
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Henry Ford would've begged to differ.
Henry Ford still underpaid people for their labor. That is the fundamental key to capitalism. Profit is surplus labor that capitalists steal from laborers.
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If you have $1m, you can draw something like $30-40000 a year reasonably safely. That's obviously a lot of money, but isn't what most people in the mentioned countries think of as "living large" if it's your whole income, especially for a couple/family. That puts you at about the median individual income for Japan and NZ, a bit above in Korea, and below for most of western Europe and Aus.
Obviously that's without working, but that's kinda the point. It's wealth, but not enough that most people in those places would be comfortable not working if that's how much they earned. Hell, in the US that wouldn't even cover childcare for a few kids in many locales.
wrote last edited by [email protected]The $1m isn't in cash... You forget that the average house price in London is around $900k, and for Sydney it's $981k.
That means your pool for your car, furnishings, investments etc. are either minimal, or you have a mortgage, and definitely can't live passively off $30-40k per year unless you're living in cheaper than average housing (one would call this "not super wealthy") and definitely not if you're supporting a family.
I'm not saying the cost of living isn't worse in the US, just that $1m is a comparatively tiny amount everywhere and that most millionaires (as there will a correlation between net worth and frequency) are frankly closer to the working class than they are to billionaires.
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"Do you know how hard it is to keep the plebs just happy enough that they don't burn down my property?"
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The real secret to becoming rich is to have parents who are rich.
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The real secret to becoming rich is to have parents who are rich.
Sometimes you have rich parents. Sometimes you have friends with rich parents. Sometimes you just find yourself at the center of a CIA money laundering operation.
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change it to billionaire and I agree, people with $1m are not obscenely wealthy these days
people with $1m are not obscenely wealthy these days
I'd rather have it than not.
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I know several (low) millionaires and none of them exploited other people's hard work. All of them are self-employed, and one of them is the single employee of their company.
Billionaires on the other hand. Yep, no way to get to a billion without heavy exploitation and sociopathic behavior.
wrote last edited by [email protected]I know several (low) millionaires and none of them exploited other people’s hard work.
checks under the hood
Where'd you, uh... where'd you get all that compound interest on your investments from?
All of them are self-employed, and one of them is the single employee of their company.
"I've never exploited anyone!"
"Oh really, what do you do for a living?"
"Insurance defense lawyer."
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The difference between a billion dollars and a million dollars is about a billion dollars.
Man, that graph and website is amazing. Simple, but gets the point across. I'll share it from time to time.
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I know several (low) millionaires and none of them exploited other people’s hard work.
checks under the hood
Where'd you, uh... where'd you get all that compound interest on your investments from?
All of them are self-employed, and one of them is the single employee of their company.
"I've never exploited anyone!"
"Oh really, what do you do for a living?"
"Insurance defense lawyer."
Heavy equipment operator is more likely
