Getting rich is really hard man

[Phlog]

This is just plain untrue.

Oh gawd, yeah, I was wrong. You're like the 3rd person. I'll change the p.

 

[gonads20]

Oh gawd, yeah, I was wrong. You're like the 3rd person. I'll change the p.

Lol I’m only on page two of this thread. I’ll keep reading .

Check out the book “the millionaire next door”

 

[kahiljabroni]

No one ever said it was easy. Most people are not that bright and are not cut out to be entrepreneurial, let alone successful entrepreneurs.

I'd say it is easier now than it has ever been though with the advent of the internet. You can learn pretty much anything you need to know for free, you have access to unlimited tools and resources, and you can connect with people worldwide. Especially if you are from the west. You can take advantage of geo-arbitrage by saving money and moving to another part of the world to bootstrap your business. A lot of people move to Thailand with savings so that they can get started and take advantage of a longer runway.

I agree it's easier than ever but still very difficult. The advice you gave is fine but the real question is what type of business do you start?

 

[Brofessor]

She'll be starting college next year. So yeah, she's gonna be just fine. Here's a pic of the BMW I just got her for her birthday:

More pics of daughter?

 

[Phlog]

Looking into it a little it seems rich people have an overwhelming desire to believe and appear they are self made.

I think the data on whether rich people are self made or subject to inheritance may well be somewhat suspect if it relies on self reporting.

https://www.theguardian.com/us-news/2018/jan/29/rich-people-wealth-america

 

[Oeshon]

I agree it's easier than ever but still very difficult. The advice you gave is fine but the real question is what type of business do you start?

That will depend on who you are and what/who you know. There is no magic bullet here. You need to play to your strength and find a pain point that you can address.

 

[Goonerview]

And that’s why you’ll be a virgin forever. Either that or live in Saudi Arabia.

Spoken by someone that’s has never had a woman want to hang out with them just to be in their presence ...

I’ve had many relationships with good looking women, when I was dirt broke poor. They were pulling the condoms out of my hands on many occasions, wanting me to go inside ... don’t worry, you won’t understand

 

[gonads20]

Looking into it a little it seems rich people have an overwhelming desire to believe and appear they are self made.

I think the data on whether rich people are self made or subject to inheritance may well be somewhat suspect if it relies on self reporting.

https://www.theguardian.com/us-news/2018/jan/29/rich-people-wealth-america

An opinion piece with zero data except one guys experience. Here’s a quote

“I might not be able organize low-wage workers,” he says. “But I can connect with wealthy people who feel stuck and isolated and want to contribute to social justice.”

You need a better source

 

[Brampton_Boy]

The saying "You have to have money to make money" holds so much truth.

My financial independence/freedom is driven by dividends, covered calls and rental properties. If I relied solely on my take home salary (which is still $110K), it would have taken me decades to amass any serious sort of wealth. For the record, most of the money I have was inherited upon my father's death. I had saved about $250k on my own by 34, but didn't have any home equity.

I genuinely don't know how people make it in big cities. I have no kids and have a good job, and I would struggle to save if I lived in the heart of Toronto (or any other major area)

 

[Medulla Omoplata]

And that's why you're poor, you can't do math and don't understand finance. For GST to be 13% of your income, you need to spend your entire fucking income, which you can't do because roughly 30% of it in your case gets taxed away by the government before you even see it. Plus you don't how the fuck tax brackets work, you only get dinged at 26% and 11.16% for the amount that's over ~$90k, the rest of it is taxed at a significantly lower rate. This is why you're crying about money all the time and why I owned my home free & clear 10 years ago when I was your age.

nah dude, the reason he is poor is cause he is working too much overtime so they government actually takes more money in taxes than he earns.

 

[Phlog]

I read this as Steve Coogan saying it as Michael Caine.

That's the only way I can hear that now, the man is a God!

 

[AndreiRubliov]

30 years old.

I’m working my ass off out here and can’t get comfortable to save my life.

I’m a hardworking talented mortgage advisor in Toronto. Will make around $130,000 this year Canadian. That isn’t even 100k USD this year but I’m outperforming the rest of my team.

Own one condo I’m renting out and the other one I live in.

Gotta pay child support my ex and support my kid.

Can’t afford a house in this city because they are starting at 1 million.

Can’t afford a new BMW because half my income goes to taxes.

Most Canadians are surviving on a lot less money.

It’s just hard to make it in this city. Canadian doctors and lawyers don’t even make a huge amount of money on average.

I want a lake-house overviewing the water and other nice things. I’m willing to work hard and sacrifice. Just don’t know how.

Just a regular prick trying to make it.

You are still extremely young, don't get discouraged. The majority of people that become rich don't do it at such a young age. Keep going

 

[Renard]

OP falling hard for the rat race. A BMW, really? It's a piece of crap you'll need to bring in to get fixed constantly.

I think it's fine to become rich as a side-effect of pursuing a career that interests you, working hard at that job because you like it, etc. It's a problem if money is your only goal. It's an empty goal, there's nothing in there to sustain you, that's why you're already tired at 30.

 

[val_lixembeau]

Looking into it a little it seems rich people have an overwhelming desire to believe and appear they are self made.

I think the data on whether rich people are self made or subject to inheritance may well be somewhat suspect if it relies on self reporting.

https://www.theguardian.com/us-news/2018/jan/29/rich-people-wealth-america

Yes, and not only that, they don't count the backstop that their family gives them. There's pretty much no pain in paying for education. It's much easier to take financial risk when you know you won't end up sleeping on the street, and it won't negatively affect your dating chances. They also know more people who can provide seed investment. Not saying children from well off families didn't work hard, but they for sure have a leg up that they might not appreciate.

 

[Garnet_StrongerThanYou]

OP falling hard for the rat race. A BMW, really? It's a piece of crap you'll need to bring in to get fixed constantly.

I think it's fine to become rich as a side-effect of pursuing a career that interests you, working hard at that job because you like it, etc. It's a problem if money is your only goal. It's an empty goal, there's nothing in there to sustain you, that's why you're already tired at 30.

I wouldn’t say tired as much as frustrated and ready to take risks.

Bordering on angry and desperate.

I watched the movie Brooklyn’s finest where that white cop was so desperate to earn money for his family that he was robbing drug dealers and I was rooting for him all the while.

 

[woodguyatl]

30 years old.

I’m working my ass off out here and can’t get comfortable to save my life.

I’m a hardworking talented mortgage advisor in Toronto. Will make around $130,000 this year Canadian. That isn’t even 100k USD this year but I’m outperforming the rest of my team.

Own one condo I’m renting out and the other one I live in.

Gotta pay child support my ex and support my kid.

Can’t afford a house in this city because they are starting at 1 million.

Can’t afford a new BMW because half my income goes to taxes.

Most Canadians are surviving on a lot less money.

It’s just hard to make it in this city. Canadian doctors and lawyers don’t even make a huge amount of money on average.

I want a lake-house overviewing the water and other nice things. I’m willing to work hard and sacrifice. Just don’t know how.

Just a regular prick trying to make it.

Ones problem you have is working for other people. All of my friends who are wealthy are entrepreneurs. My wife and I own our businesses and hang out with similar people so our sample is not really representative. The thing about owning your own company is that if you start it now and put a good team in place you won’t have to keep going to the office when you are 50. I have friends who own delivery businesses, electrical contractors, insurance agencies, and lumber importers.

 

[Garnet_StrongerThanYou]

Ones problem you have is working for other people. All of my friends who are wealthy are entrepreneurs. My wife and I own our businesses and hang out with similar people so our sample is not really representative. The thing about owning your own company is that if you start it now and put a good team in place you won’t have to keep going to the office when you are 50. I have friends who own delivery businesses, electrical contractors, insurance agencies, and lumber importers.

K don’t know anything about lumber or contracting.

I know a lot about mortgages maybe I could do that.

 

[woodguyatl]

K don’t know anything about lumber or contracting.

I know a lot about mortgages maybe I could do that.

For sure. Work within the stuff you know if you feel more comfortable doing so. A old friend and rowing teammate from college started a lending business called LendingTree. There is opportunity in everything, but to get rich you'll need to take some risk or work for yourself.

It will of course help if you really like what you are doing.

 

[laz0001]

Hahaha, actually I only mess with girls who have their liquor license. She's safe for 4 more years.

Liquor in the front, poker round the back..

 

[Phlog]

Yes, and not only that, they don't count the backstop that their family gives them. There's pretty much no pain in paying for education. It's much easier to take financial risk when you know you won't end up sleeping on the street, and it won't negatively affect your dating chances. They also know more people who can provide seed investment. Not saying children from well off families didn't work hard, but they for sure have a leg up that they might not appreciate.

Yes, knowing you can take wild shots and worst comes to the worst you will have to rely upon your family for a bit is a boon.