America’s Love-Hate Relationship with Wealth
Published on - November 14th, 2011 (Modified on - November 30th, 2011) (by J.D. Roth) I was on the road for the past two months, first in Chicago, and then in Bolivia and Peru. As always happens, one of the side effects of travel is that I’ve been living in a media vacuum. For the past few weeks, I’ve heard almost nothing of current events.
That means I arrived home to find a strange phenomenon: Protestors “occupying” Wall Street. And Oakland. And Portland. And probably many other places as well. From the little I’ve heard, the Occupy Wall Street movement is trying to draw attention to the power wielded by big banks and transnational corporations. I haven’t had time to read up on the protests, so I can’t comment on the protestors’ motives or efficacy. But even before I begin to research Occupy Wall Street and its offshoots, they’ve given me plenty of food for thought.
While writing about money here at Get Rich Slowly for the past five years, I’ve noticed that people in general (and Americans in particular) have a complex love-hate relationship with wealth. People want to be rich — but they’re suspicious of those who already are.
The Wealth of Others
Almost everyone who achieves financial success believes they’ve done so through justifiable means. They believe they’ve earned their money (or deserve it), and they don’t feel guilty for having it. Too, we’re generally supportive and appreciative of our friends who make it big. (I can think of a handful of folks I know who have managed to acquire wealth, and I’m proud of each of them.) But when it comes to strangers who are rich? Then our attitudes seem to change.
There’s an underlying distrust of the rich in mainstream American society, which seems odd. Isn’t that what most of us aspire to? We all want to be rich, yet we resent it when other people manage to achieve their financial goals. We complain that they had advantages that we didn’t, or that they cheated, or that they don’t deserve the money. But what if the same thing happened to us? What if we became rich? How would we feel about such judgment and criticism?
Take my father, for instance. He was a serial entrepreneur, and managed to build two successful businesses during his short lifetime. He worked hard and dreamed big. He wanted to be rich so that he could provide his family everything they wanted.
One of my father’s many businesses on his road to “riches”…
At the same time, my father bemoaned other people’s success. He didn’t resent everyone who made it big, but he often complained that this fellow was successful because he caught a lucky break or that guy earned his fortune because he knew the right people.
Suspending Judgment
There’s no question that some people have lucked into wealth. I have a friend whose family owned a large manufacturing business; as a result, she’s benefited from a huge annual stipend from her trust. This has turned her into a slacker and layabout. She’s frequently out of work, and makes all sorts of excuses about why she can’t find a job. It’s difficult to be around her.
But at the same time, I know folks who have worked like dogs to accumulate their wealth. I know others who have scrimped and saved for decades to build their savings. Do I begrudge these folks for having a million dollars? Or three million? Hell, no. They’ve earned it. They deserve it.
But there are people who would judge them.
The media demagogues would have you believe that this is a partisan thing. That’s nonsense, of course. Being a Democrat doesn’t necessarily mean you hate the rich, and being Republican doesn’t mean you’re all for the wealthy. (My grandmother was the most conservative person I’ve ever known, and she hated the rich. I have a good friend who is as liberal as you’ll ever meet, and he’s pro-business, pro-capitalism, pro-money to the core.)
But if this love-hate relationship with wealth isn’t political, what is it? Is it a part of our Puritan heritage?
For myself, I’ve decided that I cannot judge a person for being rich. (Well, okay, sometimes I judge, but I try not to do so often.) I’ve communicated with many wealthy GRS readers and chatted with plenty of flush folks in real life. Most of the rich I know are like my real millionaire next door; they’ve built their wealth slowly, though hard work and smart choices.
My point is that in most cases, you don’t know how a person has achieved their lifestyle. It may be that the guy down the street with the large house and the fancy sports car financed that stuff on mountains of debt. Or it could be that he has scrimped and saved, or has worked long hours to build a business, in order to afford these things. Or, yes, maybe the rich guy down the road used to be big banker on Wall Street, sucking small investors dry through onerous fees.
Gates and Buffett, two of the richest men in the world. Heroes or goats?
Who Is Rich? Are You?
You can clearly see America’s love-hate relationship with wealth in the way we self-identify. Nobody wants to say they’re rich. But if you make $100,000 a year, you are rich. Not just by world standards, but by American standards. (The median household income in the U.S. was just under $50,000 in 2010. That means half the population earned less than that and half the population earned more.) I’d argue that if your family brings in more than $75,000 per year, you’re rich. But few people seem to agree.
But let me also be clear that I’m not condemning anyone for being rich. The name of this website is Get Rich Slowly, after all, and my aim is to help all of you destroy debt and build wealth. To me, wealth is a noble aim, especially if it’s used to improve your life — and the lives of others.
I don’t resent the wealthy. I don’t believe that wealth corrupts or that it attracts bad people. (It might, however, magnify your personality; if you’re already a jerk, having lots of money make you more of a jerk.) In fact, from my experience, most of those who have become rich have worked hard and made smart choices. (I can’t say the same for those who were born into wealth, but then I don’t know many folks that match that description.)
I’m not saying that every rich person deserves to be so, and I’m not saying that we should move to a socialist society. I’m just puzzled why we simultaneously love and loathe the wealthy. Is this healthy? Is it normal? Is it just? How do you feel about wealth, both your own and that of others? Do you resent the rich? If so, why? When is wealth deserved and when is it not?
Occupy Wall Street photo by pweiskel08.
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DH and I are rich. Our average gross income for the past 7+ years has been well over $100K. We have friends who earn as much as, or more than, we do. Some of them own property. Some of them own *properties.*
But it’s true to say I don’t think any of us really feel financially secure despite that. And perhaps that is what drives some of the love-hate thing regarding wealth in America.
DH and I don’t own a home. That means we have to make rent every month. A couple of friends *do* own their home – but they live 1+ hours away from their jobs, and their marriage suffers as a result. Some other friends own their home and a rental property, but are currently afraid of what will happen if they can’t sell their stepfather’s reverse-mortgaged house now that he has had to move into assisted living. Yet other friends own a couple of rental properties, but are themselves living in an RV as they travel the country because the primary employment of both of them bottomed out.
It’s hard to discuss wealth without getting political. I’m frankly happy that a bunch of rich lawyers are willing to pay me a good wage for easy work, and that a bunch of rich old people are willing to pay DH for specialized fitness therapy. If they weren’t rich, we wouldn’t be either.
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Yep and our economy here in Hawaii would really be in the toilet if the rich did not continue to come here for their vacations.
I think it is just the frustration of so many without jobs, big college loans, or underwater mortgages etc, while CEOs are getting huge bonuses because their companies made money last year because they laid off a lot of workers to do it.
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I don’t hate the rich. I guess by some classification, I am, though I don’t feel at all rich.
My problem is more with the widening gap between rich and poor and the income discrepancy.
“The U.S. stood first in the world in 2005 with a ratio of 39:1 CEO’s compensation to pay of manufacturing production workers. Britain second with 31.8:1; Italy third with 25.9:1, New Zealand fourth with 24.9:1.[17]”
– What is that number today? These are the things I find much more disconcerting that the millionaire next door.
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I had to laugh when you said that anyone earning over $100,000 was “rich.” It’s apparent you don’t live in New Jersey! We were raised here, had our children here and have jobs here. It’s not that easy to leave. At our highest before the loss of our former jobs we were bringing in $135,000 before taxes. For that kind of money you can live in a modest home (we have a 2-bdrm townhouse) and our monthly mortgage payment is $1,800 a month, drive a Hyundai and a Pontiac Vibe (paid for), and eat out once a week. We’re also 1099′s, so pay for our own health insurance, $1,088/month and have a child in college we’re paying tuition and child support for. To our credit, we have quite a bit in retirement savings. In order for me to feel “rich” here, I’d have to be living on an income of at least $200,000. I guess I resent the fact that our “choice” to live in this state results in our having to earn twice as much as most people. That’s why we work commission based jobs. It’s the only shot we have. Jobs here haven’t kept pace with the cost of living. If you have a minimum wage job, there is no way you can live here without a roommate. My son is looking for an apartment right now. He earns $14/hour and the average one bedroom here goes for $1,000/month.
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I have to admit that I struggle with a love hate relationship with the wealthy. My mom married a man (my step-dad) with a very advanced medical degree. They are definitely in the 1% and then some. My step-dad is a nice man for the most part and both he and my mom grew up extremely poor. They are both very hard workers. My family and I, on the other hand, struggle constantly to make ends meet.
Do I resent the wealth he built after dedicating 12 years of his life to advanced education? Do I resent them for having so much when we have so little? No, I don’t, not even a little bit.
But here’s where the conflict comes in. My mom, who always says she remembers how it feels to be dirt poor, will frequently say things like “it’s only $100″ – not talking about buying something for herself – she says this when advising me on what choices to make. It’s hard to hear this. When I told her that we were in $20,000 debt (including student loans), she said “oh, that’s not so bad – the way you talked I thought it was a lot!” Considering our debt to income ratio – it IS a lot!
My step-dad doesn’t seem to respect waiters or other people that serve him very much. I can’t speak for him, of course, but sometimes I could swear that I see disgust on his face that people find themselves in such a low position – that they weren’t as smart as he was to choose an advanced degree or whatever. He choose to never have kids – many people would prefer to have kids and a family instead of pursuing an elite 12 year degree. Does that make them wrong? I also frequently hear about all the ways his extremely large annual income (not including investments) is being threatened by taxes or medicare or malpractice insurance, which no doubt holds more than a grain of truth, but I see very little sympathy for people who can’t afford ever increasing medical expenses.
So, I guess the gap in understanding between the wealthy and the struggling is a component in people “hating” the wealthy.
I don’t think the issue, for me at least, is someone working their way to wealth. It’s when the wealthy won’t acknowledge the benefits they derive once they get there. Like how much money they save by being able to pay cash for vehicles, homes, education instead of paying interest. Or how they can get necessary medical tests or treatments immediately versus waiting until you can afford it. I once had a dentist gripe me out for not getting a cavity fixed and subsequently needing a root canal. He “educated” me on how I had cost myself more money in the long run. I left utterly ashamed and defeated, even though I had made the choice consciously, so that I could afford to give my daughter dental treatment, clothes and food. And there’s the issue of “social capital” that J.D. talks about frequently. Yes, I can build social capital just like the rich can, but can my network land me cushy jobs at top corporations, or sell me a very nice car at a super low rate, or give my child extravagant cash graduation presents, etc? (All real life examples, by the way) No, because they do not have resources and connections like that to share.
I guess my message to the wealthy is this: Yay! you worked your way up – I’m sincerely happy for you – but don’t make the mistake of thinking that just because you were poor once that you know how it feels to be here now – it’s quite possible you have lost touch with what it feels like. And don’t try to convince me that we are equal and have equal opportunities. The gap between the rich and poor is widening and has been for some time and it’s not because the wealthy are somehow superior or more deserving. And please, please, do not assume that I do not have the desire, foresight, or the motivation to make “smart” financial choices. There are too many examples to list of times when people are forced to make choices that do not make sense number wise. Just because you can choose to nip a dental problem in the bud or reserve plane tickets a year in advance or prepay your mortgage or whatever doesn’t make you more financially savvy than me. You worked hard, yes, but you are very fortunate, as well.
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Beautifully written.
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I guess I don’t understand your reasoning. If you had gone to medical school you definitely would be doing better financially—it was not “luck” even slightly, it’s based on hard work and choosing such a career.
I think what you are saying is that without the hard work, you should have an easier time living at a basic level and getting by? And you are saying that those who did choose a high powered career don’t consider how hard it is for you, and that they should think about it more and avoid offending you? I agree with both those statements, actually. But please stop implying that medical doctors are “lucky” that they have a good income!
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My intention was not to imply that doctors are “lucky” to have a high income. I believe that I fully acknowledged that my step-dad was a hard worker and had spent 12 years of his life to reach his current position.
However, the wealthy DO have benefits that come from simply being wealthy and these benefits seem to compound over time. Yes, my husband (a teacher) and I (a designer) could have chosen a similar career, but what if everyone was only willing to pursue such jobs? Who would teach our kids, carry our mail, pick up our trash, etc? Are our careers any less valuable to society?
And, most importantly in my opinion, are the benefits proportional to the effort expended? My step-dad pursued higher education 3x longer than my husband, but his annual income is 20x as much. He can get paid thousands of dollars for a simple procedure while my husband often works overtime for school activities without any additional pay. My step-dad can receive large bonuses for his performance, while good teachers usually receive no bonuses, but, as any parent can attest, the quality of a teacher can definitely make or break a child’s learning experience in school. And the time off that teachers are said to have is often greatly exaggerated. During different times of the year my husband easily puts in 70 hours a week. He and his coworkers painted a storage room in over 100 degree heat this past summer for no pay whatsoever.
Yes, higher education and hard work can get you far in life, but my step-dad was born with an above average intelligence. Is that not somewhat “lucky”? He served in the military, was he not fortunate to not suffer an injury that could have greatly impaired his ability to earn? Do investors never prosper due to luck? Is it always just shrewd analysis on their part?
My main point is still this: just because society values certain professions to a degree I feel is not proportional, don’t assume that if I had the same resources that I would not make smart financial decisions. Of course I would ask for discounts for paying cash, avoid paying interest at all costs, and benefit from a large cash flow in any way possible. I read GRS for a reason, after all. But I would hope that I would also continue to be aware of the fact that I was fortunate to be able to make such decisions. It is this lack of understanding and the condescension that often accompanies it that lessens my respect for the wealthy and, in my opinion, contributes to the love/hate relationship that J.D. was talking about.
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I like to think that people are finally (maybe?) waking up that we live in a system of law, taxation, government policy, corporate policy that perpetuates privilege, favors it, and differentially treats those who flout the social contract. And worse, these systems are often invisible except to those create the rules. As is so often said these days, privatization on the way up, socialism on the way down? We don’t have laissez-faire capitalism, we have neoliberalism run rampant.
And JD – please learn what words like “socialism” mean before throwing them around so blithely. It’s cringeworthy to read comments like “living in a socialist country” when you don’t acknowledge that many services in the US are socialized (and many services in so-called “socialist” countries are private).
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One detail that I think is missing from the article is median income based on where you live. I make more than 100k per year but live in the Bay Area where the cost of living is quite high. I consider myself in the upper middle class, but definitely not rich. I realize I am better off than others in the Bay Area, but money is still tight each month, and I worry about having enough money in the future for sending my kids to college and retiring some day.
I suppose rich is a relative viewpoint. I do find myself disliking people with the McMansions and giant SUVs, seems like an excess.
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People root for the underdog. So people like to see Cinderella stories, but hate to see the guy predisposed to victory win. This might be a good subject for another article, but I really think it’s the cause of this phenomena.
There was an interesting radio lab episode not that long ago called “Games” where they touched on this subject. I am personally feeling like maybe I made the shift from the underdog to the top dog, and people I meet are starting to resent me for it. This has really got me thinking.
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Good point! Your comment reminds me of that reader story about the couple buying the $50K house and how some commenters were upset that they inherited part of that money.
We weren’t talking 1% there.
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The rich is always someone else! Even when you become rich because other rich people are richer than you. I think it is envy when it comes to wealth! Those of you who want it and can’t want and resent anytbody who has it.
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the rich did not cause the problem, some of them jsut profited from it. I don’t think its wrong to be rich, its the path you took to get there that is being examined. You make a million dollars a year? great! you write off $200000 worth vacations as business expenses….not so great. FOrget about new legislation, just unleash the irs so that all these write-off can be audited and questioned. that itself will build income for teh government.
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OK here is my issue with the “rich” and it is my opinion and belief. I grew up very poor and have known nothing else but to work hard for pay. I would love to find that one great idea that sends me to the top of the food chain financially but just haven’t found it and realistically speaking might not ever find it.
If you win the lotto and are sleeping in satin sheets and bathing in money thats great I am very happy for and hope some day I should be so fortunate.
However, my sentiment changes when I see things that I feel are an injustice being done. For example I once worked for a company (a large company) and during the year I worked for them I was laid off along with thousands of others. However, in that same year of layoffs the CEO made $650 million and received a $19 million bonus for performance. Now maybe it is me but in a year when you are laying off workers and your stock drops 11% does it make sense to get a performance bonus? Especially when that performance bonus could have kept so many other people in the company employed. Layoff the CEO for poor performance and keep about 50K employed with the salary he/she was making.
Then you have the underhanded dealings that take place such as hiring illegal workers to work for a company because they work cheaper then the American worker. Or the politicians who legislate based on how much money a company gives them vs what they know is right for this country and the world.
Does it make sense to close up shop in America and send your production over to China? Some say maybe; however I feel that it is wrong. If your an American company your loyalty should be to America and the workers that brought you the success.
I work in IT and I make a pretty good salary however, I have been laid off more times than one can imagine because work goes to India or Malaysia or some other country that they don’t have to pay so much to an American worker.
These companies never consider that the stuff they produce and sell in this country can’t be sold if a large portion of the population is unemployed because jobs went overseas. Why do they never consider it? Because they have the wealth at the decision making level and it never phases them. They are still employed. Meanwhile the guys who made the company a success are standing on the corner and in unemployment lines trying to figure out what their family will do tomorrow when they lose their home.
Not to mention that as we move from a country that used to make great things to a country that simply consumes consider this: if a war happens and we have no skilled workers to build planes and cars and many other things and we just get the parts from some other country and assemble them how can we expect to build the items we might need such as tanks and planes when all the parts are coming from another country? Not to mention what if that other country we get the parts from is the country that has declared war against us then what?
I have seen so many times a good person with great work ethic and true dedication to a company be wronged all in favor of helping out so and so brother, uncle, sister, cousin, etc etc. because they knew someone who was wealthy and had the right connections. I once saw a person who had genuine interest in the company success, his staff, and his job passed over because a friend of the bosses bosses boss had a manager friend who needed a job. So they hired a manager with no experience in an IT environment, let alone global data center, and the guy was a failure because the workers saw he could not manage or lead the staff because he had no experience in the IT field. That is wrong!
Don’t get me wrong if your a stand up person of means and you do the right thing for your employees or come from money having never had to work for it, Lotto winner, or something else entirely then you are not the one I speak of.
I speak of the wealthy that use their position of wealth to stand above the others like they are something better and special and deserve to be treated different. The wealthy that get 4 hours in jail when the working class person gets 18 months simply because they don’t have the money and connections
That is where my issue with the wealthy comes in and it seems like it is happening more and more everyday.
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“In a year when you are laying off workers and your stock drops 11% does it make sense to get a performance bonus?”
It can, yes.
What does stock price have to do with anything? How is the CEO supposed to control the stock price? More than likely, his “bonus” metrics were based on things he could actually control, such as increasing marketshare and revenue, and decreasing overhead. Against those metrics, it’s quite likely that he met his goals and deserved the bonus.
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If you work for a company and you do a crappy job do you get a performance bonus? My guess is no.
The CEO cannot control the stock price directly but it as the CEO it is his/her job, along with the executive board, to do their best to negotiate the waters and make the decisions that keep the company strong.
To say its not the fault of the CEO is like saying the Capt was not at fault when the Titanic sunk. No matter how you slice it the capt goes down with the ship. The decisions made, right or wrong, fall on the capt and in this case the capt is the CEO.
So no it does not make sense to get a performance bonus. Salary (with golden parachute! Something else I did not address) fine but performance bonus…Hell No!
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or not, see “pity bonuses”
http://money.cnn.com/2010/03/09/news/companies/bonuses/index.htm?hpt=C2
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I think more than anything the Occupy movement just represents anger. Anger that young people with college degrees are unable to make a decent living. Anger that they acquired $40,000 or more in college debt and cannot find a decent job. Anger that the people who told them “go to college and you won’t have to flip burgers” are now angry at them for being unwilling, after graduation, to take a “burger flipping” job.
Additionally there is anger that we have lost our voice in the political process, especially if you are unable to give thousands of dollars to candidates. I personally feel that corporations, via lobbying groups pretty much own congress. Here, planet money shows how congressional votes are bought and sold. (http://www.npr.org/blogs/money/2011/11/01/141913370/the-tuesday-podcast-inside-washingtons-money-machine) How are we, the people, supposed to keep up with that?
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“Content makes poor men rich. Discontent makes rich men poor” Having observed some of this “occupy” stuff, I think that some of that “discontentedness” may be showing through. For me, however, it’s more about “who is paying the price” for wealth – The decisions of a very few people had repercussions all over the world, and the poor in every society feel it worst. They have the least options.
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“it’s more about “who is paying the price” for wealth – The decisions of a very few people had repercussions all over the world, and the poor in every society feel it worst. They have the least options.”
You just condensed much of OWS’s message very nicely.
You can have an attitude of contentment while still recognizing that there are problems with the way society is working and while recognizing that you are essentially financially hosed, like many of the other folks you know who have been victims of the problems with the way society is working.
My family, for example, was well on it’s way out of poverty and heading swimmingly toward the middle class — until July 2009 when my husband was laid off due to poor sales in the auto industry. He has found work, but the pay is lower, the medical insurance is nowhere near as good, and our retirement savings is back down to zero because we needed to help get us through the lay-off.
We love each other and we are happy together and with our kids, but our future is looking quite bleak despite our contentment with other areas in our lives. We know that unless something improves, we are likely to have to spend our golden years deciding whether we will pay for food or medication. I can’t say I find that prospect particularly heartening. We are doing what we can on a personal level to try to keep that from happening to us and on a national level, OWS is trying to keep that from happening to the better part of a couple of generations of Americans. Wanting to see change is not a character flaw or at least I hope it is not.
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It’s not “resentment” to say that most rich people began with advantages, or to point out why wealth might be less attainable for others. To say that, JD, is to dismiss all gender studies, racial justice studies, etc, as “resentment.”
The fundamental principle of American cutlure is that we all start on a level playing field. All men are created equal. When we point out that certain groups of people have advantages, this is not because we are resentful. It’s because we BELIEVE in that principle, and we want to identify and correct the ways it’s violated by our society.
Also: “What if we became rich?” I am working my damndest to get there, and if I do, I will acknowledge all of the advantages I have. Such as having light skin. College-educated parents. Scholarships. Unemployment assistance. American citizenship. Etc etc.
So many rich people – and wannabes – don’t acknowledge things like this. They insist that they got what they got through hard work. As if poor people working 2 or 3 jobs don’t work hard at all.
All they see is their own problems, and the challenges they’ve faced. They can’t imagine that other people might face far greater challenges, with far less help.
THAT, and THAT ALONE, is what I resent.
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Two responses to your article:
You wrote: “We all want to be rich…” I think it’s important to remember this isn’t true, and there’s power in that. I have a handful of friends, who for philosophical and political reasons, proactively do not want to be rich. They just want ENOUGH. They have defined, very modestly, what “enough” is, and they are fine with that. They have chosen to opt out of American values around consumerism and accumulating stuff and upscaling and working tons and stress, and they just want enough (defined very modestly). I don’t take this approach, but I admire it in others and I think it’s important to offer this model and not just reinforce that everyone in the world thinks endless wealth accumulation is good. One of my friends gives away about half of what she earns every year, because she wants to do good and isn’t interested in wealth. My grandma was never interested in wealth. She was happy with her very modest life, because she had perspective coming from absolutely nothing as an immigrant. If she’d won millions, she would have given it away to people who needed it more.
Second, I don’t think that most of the Occupy Wall Street folks are protesting “the millionaire next door” types or people who have a million or three by saving for their whole lives. They are protesting massive inequalities in the “haves” and “have nots” through crazy practices, like paying CEOs whose companies have failed or are losing money $30 million (or more) a year. They are protesting multi-million dollar payouts for ousted CEOs and leaders of bankrupt corporations. They are protesting multi-million dollar payouts for management of companies that were run into the ground and they bailed out with taxpayer funds.
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margot, *thank you*
some of us are not at all interested in being rich. and judging from some of the comments elsewhere – particularly the “how much do you spend” questions – a number of us are, in fact, here reading this!
i don’t hate the rich in the least. the problem with inequality is not that i don’t want others’ to be rich. the problem with inequality is that there are many people who go hungry on a regular basis. if everyone had *enough*, i wouldn’t once begrudge others’ having preposterously huge amounts of money (although i doubt i will ever understand it).
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I say..
Quite blaming others for your lack of achievements.
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I’d argue that making $75,000 does not mean you’re above poverty level. It depends on WHERE you live. Cost of living makes a huge difference on salary. I live outside of Washington DC and my husband makes $75,000. We have no credit card debt, only have one reasonable car payment and pay an average mortgage. We are by no means rich and often I feel we live in poverty because half of my husbands take home pay goes to our mortgage. Rent would have been about the same as what we pay for buying a house so we couldn’t have saved more than a few dollars there. Salary as a baseline for whether a person is “rich” or not is rather skewed.
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I don’t hate rich people. Good people come from various class statuses, but even Paris Hilton’s grandparents had to work for their wealth. It didn’t just magically appear.
I also hate it when people say rich people get lucky. Yeah some people get lucky winning the lottery, for the most part it takes a lot of hard work. I do admit I get envious of the wealthy but I don’t hate them.
Although I’d rather be a private rich person than a famous rich person. But here’s the thing JD. My mom is from Russia, she came to the U.S. and after a few years of working for others, she started her own barbershop.
She worked really hard at it, built up her client list and made a good living with it. She already had a degree in Russia, she was a professor in Russia, and she had to start all over in the U.S. My mom retired at 57.
I think personally that if you want to work you will find a job, even a crappy job. My mom had to move to a new country for a better life, sometimes you have to give up your life and trade it for another one. My mom didn’t want to leave her family in Russia but she had to and she took me with her.
I think the #1 thing keeping people from wealth, is debt. For so many years credit and debt have been a way of life, and it keeps people back from their true goals. My mom’s not rich, but she’s comfortable,retired and she stayed out of debt.
The thing is lazy people live all over the world and they will make excuses why they’re not wealthy or middle class. For the most part hard working people get ahead in life.
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As far as I’m concerned, there are two types of people:
Those are are inspired by people who are richer than them, and those who are jealous of people who are richer than them.
I think that which category you are in determines how you view the world. You either want to do well in life and try to succeed in your job or in entrepreneurship, or you sit and complain about the world. As far as I’m concerned OWS is in the second category.
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As far as I’m concerned there are two kinds of people:
Those who view the world in binary and those who view it in Technicolor.
I think that which category you are in determines how you view the world. You either want to understand complex things and try to look for real solutions, or you sit and complain about other people making a big deal out of nothing.
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Brilliant, barnetto. I’m printing yours out and putting it up on my fridge.
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