How to get super-wealthy (not a guide, more of a question!)
30 July 2008, 03:17 PM
#1
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How to get super-wealthy (not a guide, more of a question!)
I was pondering about this the other day - becoming super-wealthy (not as a "goal for the day", but as a concept!)
It reminded me of my last-year's holiday abroad - going down to the marina and looking at the mega-wealth of yachts etc. Looking at the expensive houses and lifestyles that are on view (or not) everyday.
And it got me thinking, how it is done?
Now, this isn't a case of the "green-eyed monster", as I have nothing but admiration for people who've done it, and got the affluent lifestyle.
Before this becomes an argument about credit etc, and that money isn't important (IMHO, those who say that aren't being real, as surely part of the reason for existing is to better oneself in every way, including financial wealth) I'm not actually talking about that. I'm talking about what steps you have to take to get to this platform of success.
It must be very hard, otherwise we'd all be there now!
I'm guessing it's got to be something to do with the following :-
1. Your attitude in business - you'd have to be a real hard-a$$, mercenary ba$tard. I've always been taught that the nice guy always comes last. Or is this a fib?
I would class myself as a nice guy - I don't have the trait to be a nasty swine, nor the business savvy (I think).
2. Having experience in life? if so, then how come there seems to be a lot of young wealthy people? (real wealth, not accrued debt!)
3. Inherited wealth - looking at Forbes', there's an article about young billionaires.....
4. Your focus on what you want in life, and when you want it..... Is this living your life according to a timetable, and never deviating from this?
I've got a few wealthy friends, (they're bordering on millionaire status), and I can never get a straight answer out of them! Some have done it through property development, or renting. Others have done it through music. But the only difference seems to be that they had nothing to lose to get to where they are, including family, wifes & kids etc....
Perhaps that's the answer - focus.
Surely, this isn't a platform that IF you get to it, it's purely by luck or a pre-determined background?
Another question, at what age is it too late to get on further? Is there such an age?
Again, I'm guessing that the longer you leave it, the harder it is.....
Like I said, this isn't jealousy, as I'm genuinely interested in how people progress in life.....
Any thoughts?
How would you go about it? Have you done it? If not, why? What stopped you?
Have you had, lost it, and started to rebuild? What did you learn?
FWIW, I'm in my mid-30s, married with 2 kids, have a mortgage on a nice house in the countryside. Own 2 cars and have a decent job that is paid OK (not great)
I'm guessing I'm pretty average in comparison to everybody else - so what makes the "wealthy lot" so different in make up to your average Joe?
Dan
It reminded me of my last-year's holiday abroad - going down to the marina and looking at the mega-wealth of yachts etc. Looking at the expensive houses and lifestyles that are on view (or not) everyday.
And it got me thinking, how it is done?
Now, this isn't a case of the "green-eyed monster", as I have nothing but admiration for people who've done it, and got the affluent lifestyle.
Before this becomes an argument about credit etc, and that money isn't important (IMHO, those who say that aren't being real, as surely part of the reason for existing is to better oneself in every way, including financial wealth) I'm not actually talking about that. I'm talking about what steps you have to take to get to this platform of success.
It must be very hard, otherwise we'd all be there now!
I'm guessing it's got to be something to do with the following :-
1. Your attitude in business - you'd have to be a real hard-a$$, mercenary ba$tard. I've always been taught that the nice guy always comes last. Or is this a fib?
I would class myself as a nice guy - I don't have the trait to be a nasty swine, nor the business savvy (I think).
2. Having experience in life? if so, then how come there seems to be a lot of young wealthy people? (real wealth, not accrued debt!)
3. Inherited wealth - looking at Forbes', there's an article about young billionaires.....
4. Your focus on what you want in life, and when you want it..... Is this living your life according to a timetable, and never deviating from this?
I've got a few wealthy friends, (they're bordering on millionaire status), and I can never get a straight answer out of them! Some have done it through property development, or renting. Others have done it through music. But the only difference seems to be that they had nothing to lose to get to where they are, including family, wifes & kids etc....
Perhaps that's the answer - focus.
Surely, this isn't a platform that IF you get to it, it's purely by luck or a pre-determined background?
Another question, at what age is it too late to get on further? Is there such an age?
Again, I'm guessing that the longer you leave it, the harder it is.....
Like I said, this isn't jealousy, as I'm genuinely interested in how people progress in life.....
Any thoughts?
How would you go about it? Have you done it? If not, why? What stopped you?
Have you had, lost it, and started to rebuild? What did you learn?
FWIW, I'm in my mid-30s, married with 2 kids, have a mortgage on a nice house in the countryside. Own 2 cars and have a decent job that is paid OK (not great)
I'm guessing I'm pretty average in comparison to everybody else - so what makes the "wealthy lot" so different in make up to your average Joe?
Dan
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30 July 2008, 04:06 PM
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Interesting, as that is the impression I get.....
But then, why even bother bettering yourself, if by the definition of money not making you happy, you strive to improve your family's life?
Personally, I would like the opportunity to improve my lifestyle - even if it's to make my kids' lives easier in the future...
To quote Monty Burns when discussing wealth - "I'd trade it all for a little bit more"!!
Dan
But then, why even bother bettering yourself, if by the definition of money not making you happy, you strive to improve your family's life?
Personally, I would like the opportunity to improve my lifestyle - even if it's to make my kids' lives easier in the future...
To quote Monty Burns when discussing wealth - "I'd trade it all for a little bit more"!!
Dan
30 July 2008, 04:09 PM
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There was a documenty on what makes up a billionaire some time back, essentially dogged determination and the ability to take unthinkable risks to get yet more money. For every one who makes it, lots fail!
From my personal experience of the self made millionaires I have meet, its basically unceasing effort find me one with out chronic heath issues at 30 and it'll be the first one I have seen.
From my personal experience of the self made millionaires I have meet, its basically unceasing effort find me one with out chronic heath issues at 30 and it'll be the first one I have seen.
30 July 2008, 04:13 PM
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There was a documenty on what makes up a billionaire some time back, essentially dogged determination and the ability to take unthinkable risks to get yet more money. For every one who makes it, lots fail!
From my personal experience of the self made millionaires I have meet, its basically unceasing effort find me one with out chronic heath issues at 30 and I'll be the first one I have seen.
From my personal experience of the self made millionaires I have meet, its basically unceasing effort find me one with out chronic heath issues at 30 and I'll be the first one I have seen.
I'm nearly 30 now and could easily make myself a Millionaire before i'm 40 if i choose to, i know this with absolute certainty, i have no doubt at all i could do it but all work and no play makes Nathan a dull boy
Quality of life is far more importnant to me now than money in the bank (it always has been in fact)
30 July 2008, 04:16 PM
#15
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I think you have to really enjoy your chosen means to get this wealth to the point of being passionate about it.
Personally, all I'd really like to do with my day time is have my own model shop. I know it would never make a fortune but it would keep my happy for the rest of my life.
Personally, all I'd really like to do with my day time is have my own model shop. I know it would never make a fortune but it would keep my happy for the rest of my life.
30 July 2008, 04:24 PM
#17
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Interesting - we're stumbling upon dream lifestlyes that on the surface require little financial recompense (even STi wanna Subaru's!! )
However, how would you get to that point where you have the financial basis to afford to undertake these pass-times?
Personally, I've got an idea which as a business, would expose me to the wealthy lifestylees, but wouldn't necessarily make me super-wealthy myself (more so a service/consultancy industry) - unless success rubs off on those close!
Dan
)However, how would you get to that point where you have the financial basis to afford to undertake these pass-times?
Personally, I've got an idea which as a business, would expose me to the wealthy lifestylees, but wouldn't necessarily make me super-wealthy myself (more so a service/consultancy industry) - unless success rubs off on those close!
Dan
30 July 2008, 04:26 PM
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Ah yes but it wasn't the invention (that is absolute crap) that made him the money, it was bloody good advertising and PR!
30 July 2008, 04:30 PM
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Very good point Pete, which brings me back to the thing about is it a young-person's game?
Those who are older will potentially have a lot more to lose (or a very supportive family!)
dan
Those who are older will potentially have a lot more to lose (or a very supportive family!)
dan
30 July 2008, 04:34 PM
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I mean you may be ok if you have a missus that can support you while you are trying to make you rmillions, but generally speaking, the older you are, the less risks you are prepared to take, because you have kids/mortgage/car etc to support.
A very good friend of the family is a very rich man. And I have known him go from a mansion to a 3 bedroom semi and back again (He is now worth absolutely millions). But it was because he was prepared to, and actually did, lose everything in order to gain everything.
As an aside, He always says, to make it in business, it is not *having* money that counts, it is the appearance of having money...
Last edited by PeteBrant; 30 July 2008 at 04:40 PM.
30 July 2008, 04:45 PM
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30 July 2008, 04:53 PM
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Most people don't want to risk all that. They never become Millionaires, baring a lottery win.
30 July 2008, 05:00 PM
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I was going to say that too Pete. Watching a programe on TV a while back asking Millionaires how they made money. Every single one has a some point and most of them a few times, been on the brink of losing everything. Money, car, house, the lot.
Most people don't want to risk all that. They never become Millionaires, baring a lottery win.
Most people don't want to risk all that. They never become Millionaires, baring a lottery win.
