These home listings- What kind of job do these people have to be this rich?

[SeductivePig]

I think a lot of people in general have no idea how possible it really is to get wealthy.. they look at their own circumstances and can't fathom that other people can actually do better.

So many friends of mine are in investment banking, private equity, venture capitalism, etc.. and this is just 5-7 years out of college. Those people are already pulling in salaries of $150k-$300-400k before even reaching 30 years old.

They worked their asses off in school and worked hard as hell to make as many connections as possible.. that kind of work ethic is what gets people ultra wealthy.

It's not that it's insanely difficult, it's that most people don't have the drive to get there. Drive is essentially habits + vision; most people don't know where they plan to be 2 years down the road, let alone 20 years, and most people don't have the drive to work 60+ hours a week for something that's not guaranteed.

Much easier to have a cushy lifestyle.

 

[Gryz]

So many friends of mine are in investment banking, private equity, venture capitalism, etc.. and this is just 5-7 years out of college. Those people are already pulling in salaries of $150k-$300-400k before even reaching 30 years old.

I heard being a pimp or a prostitute pays really well too.

 

[ponyo]

I think a lot of people in general have no idea how possible it really is to get wealthy.. they look at their own circumstances and can't fathom that other people can actually do better.

So many friends of mine are in investment banking, private equity, venture capitalism, etc.. and this is just 5-7 years out of college. Those people are already pulling in salaries of $150k-$300-400k before even reaching 30 years old.

They worked their asses off in school and worked hard as hell to make as many connections as possible.. that kind of work ethic is what gets people ultra wealthy.

It's not that it's insanely difficult, it's that most people don't have the drive to get there. Drive is essentially habits + vision; most people don't know where they plan to be 2 years down the road, let alone 20 years, and most people don't have the drive to work 60+ hours a week for something that's not guaranteed.

Much easier to have a cushy lifestyle.

None of your friends are ultra wealthy and none of your friends can afford the houses OP is talking about. Not on their salaries and positions.

 

[plastick]

People in high positions have so much power and opportunities to steal by giving insider infos and favorable contracts to their friends. Pretty much all govt officials steal. It's a given. They all want kickbacks. The government is the biggest source of wealth not only in this country but everywhere in the world. The corrupt money in Washinton DC is ridiculous. And it's like that at every level down to the local neighborhood HOA.

If that's really true then fuck this country. I've worked my sorry ass of in retail for 11 years and I finally got into the IT field as a sysadmin making a little over $50K and I still feel poor. I'm so sick of worrying about life and trying to do the right thing to better our country when the vast majority of people running this country are all corrupt. What's the point?

 

[Red Squirrel]

I think a lot of people in general have no idea how possible it really is to get wealthy.. they look at their own circumstances and can't fathom that other people can actually do better.

So many friends of mine are in investment banking, private equity, venture capitalism, etc.. and this is just 5-7 years out of college. Those people are already pulling in salaries of $150k-$300-400k before even reaching 30 years old.

They worked their asses off in school and worked hard as hell to make as many connections as possible.. that kind of work ethic is what gets people ultra wealthy.

It's not that it's insanely difficult, it's that most people don't have the drive to get there. Drive is essentially habits + vision; most people don't know where they plan to be 2 years down the road, let alone 20 years, and most people don't have the drive to work 60+ hours a week for something that's not guaranteed.

Much easier to have a cushy lifestyle.

The keyword is "connections". You don't just make those types of connections as a random joe. You either know someone or someone you know knows someone etc. Maybe you are born into a rich family and your parents are well known, or it could even be something silly like you won the science fair in grade 8 and the president of that is now super high ranked at a company and remembers your name. Either way, it does take some luck to get into those high end positions. Not saying it's impossible, but it's not really something you can just get to with hard work. Hard work will get you your own successful business that you own and run, you MIGHT manage to make a mil or two per year if things are really going well, but it's still not enough to get you into the 50mil house territory.

That said, I think there is a point of diminishing returns when it comes to making lot of money. Anything after a certain amount like say 1 mil and you start spending it on ridiculous stuff because you don't know what else to do with it. When the creator of Minecraft got his 2bil jackpot he was blowing on on all sorts of crazy stuff and after a while he realized he was not even all that happy.

 

[Mai72]

[

If that's really true then fuck this country. I've worked my sorry ass of in retail for 11 years and I finally got into the IT field as a sysadmin making a little over $50K and I still feel poor. I'm so sick of worrying about life and trying to do the right thing to better our country when the vast majority of people running this country are all corrupt. What's the point?

https://youtu.be/AjXKRwV7Dss

That 21 year old kid became a millionaire this year. He reached that goal by first selling private label on Amazon, and then he sold his Amazon course for $500 a pop. Think about it YT reaches millions of people He was just able to get a very small percentage of that YT traffic. He does the have millions of supporters subs either. He so has a course on affiliate marketing and one on nutrition. I give him aot of credit.

My point is there are a few ways to reach wealth. That would be to play pro ball, hit the lottery, or do something big in the arts You could also become a surgeon. The thing is for most people this is out of reach except one. That would be to become an entrepreneur. It has the highest payoff, but the risk is very high as well. The upside is anyone can be in business Young or old.

Most of us get into careers that don't really have a high enough payoff. You won't starve, but you'll never be truly wealthy.

 

[skull]

None of your friends are ultra wealthy and none of your friends can afford the houses OP is talking about. Not on their salaries and positions.

Your a sad old man ponyo you probably have more than enough money but you can't ever enjoy it because your too worried about not having enough. I'd rather be poor and happy than the state your in.

 

[ponyo]

Your a sad old man ponyo you probably have more than enough money but you can't ever enjoy it because your too worried about not having enough. I'd rather be poor and happy than the state your in.

Why are you taking this personal? I never said I was rich. I'm not that old but I've been around long enough to see how stacked the deck really is.

 

[FerrelGeek]

Yep. Look at all the people who did well in tech startups over the last 20 odd years.

Gross overgeneralizations usually start this way.

Also, it's called the American Dream for a reason. It may be less attainable than before, but it's always been an aspiration, not a given.

 

[madoka]

I've worked my sorry ass of in retail for 11 years and I finally got into the IT field as a sysadmin making a little over $50K and I still feel poor.

I made almost $50K these past two weeks and I still feel poor too. Often it's a state of mind.

That said, I think there is a point of diminishing returns when it comes to making lot of money. Anything after a certain amount like say 1 mil and you start spending it on ridiculous stuff because you don't know what else to do with it.

I ended up spending $35K on more guns this month. I'm reasonably happy about that. Quarterly taxes wiped out everything else.

 

[sdifox]

I made almost $50K these past two weeks and I still feel poor too. Often it's a state of mind.



I ended up spending $35K on more guns this month. I'm reasonably happy about that. Quarterly taxes wiped out everything else.

might be cheaper for you to become a gun dealer...

 

[madoka]

might be cheaper for you to become a gun dealer...

Thought about making it a "business" so I could write off stuff, but I'm sure I'd get busted once they see that I didn't make a single sale.

 

[sdifox]

Thought about making it a "business" so I could write off stuff, but I'm sure I'd get busted once they see that I didn't make a single sale.

company buys gun, sell to you at cost + 1 dollar. there are no laws that obligates you to turn a profit. Just don't claim loss :awe:

 

[brianmanahan]

I made almost $50K these past two weeks and I still feel poor too. Often it's a state of mind.

you know there's an easy way to fix that right?

no legos or pistols for a year.

 

[Red Squirrel]

company buys gun, sell to you at cost + 1 dollar. there are no laws that obligates you to turn a profit. Just don't claim loss :awe:

Hmmm, can you actually do that? I would have figured there would be a requirement to turn a certain profit, or it looks sketchy. Ex: needs to be enough profit to live off of.

I could offer cold storage service in my home server room for a dollar and then write off all my server stuff. I only need like 1 customer, technically right?

 

[FelixDeCat]

None of your friends are ultra wealthy and none of your friends can afford the houses OP is talking about. Not on their salaries and positions.

Beets.

 

[IEC]

You Americans all believe your own crock. The American Dream. If you work hard, you too can become rich. Don't be jealous, don't be envious. If you want what others have, go work for it. They all have worked hard for it, and so should you. If you don't succeed then it is your own fault. Only you are too blame.

What job do these people have ? What makes you think a job has anything to do with wealth ?

Reality is, the biggest factor in your life, by far, whether you will be successful and rich is: are your parents rich ?

I would imagine that most of those expensive houses are owned by rich people from rich families. Whose parents were rich. Whose grandparents were rich. With wealth you can accumulate more wealth. Your current economic model is completely targeted towards rich people accumulating more wealth. There is no way in your system where wealth spreads out again. It only gets clustered. It might not have been obvious in the previous century. But the last decade people have started to notice. Money flows up. Never trickles down. In the end you will be back to the same situation as we had a few centuries ago in Europe: a feudal system, with a rich aristocracy, and very poor masses. In theory a poor person can be elevated into aristocracy, but that'll be an exception. Only the children of the aristocrats will enter aristocracy.

You now even elected a President who is a shining example of this new system of aristocracy. Rich because his daddy was rich. He's a major screw-up, has no morals. Probably not very smart. But even then, he ended up richer than he started.

There is no American Dream.

2 generations of my immigrant family and their successes say that the American Dream is alive and well, for those who are willing to dream big and work hard.

My parents came to this country with little but the clothes on their backs. Same story for many of my aunts and uncles. I may have been under the federal poverty line for the first 18 years of my life, but I never felt poor in my life. Perspective matters.

 

[SeductivePig]

None of your friends are ultra wealthy and none of your friends can afford the houses OP is talking about. Not on their salaries and positions.

Ultra wealthy, or ultra high net worth, which I assume you're referring to, is net worth in excess of $1 billion. There's only a few thousand of those people in the world. So yes you may be right that none of my friends fall into that category.

However, I do know many people who can afford a house as listed in the OP.

For example, a friend of mine has parents that are in their 40's, and comfortably own a $10 million mansion. The husband is a neurosurgeon and the wife is a cardiologist. They clear around $1 million a year I'm guessing. With sound investments, saving, etc (which they do), they could easily step up to a $18 million mansion but I would think they don't need the space, so they don't.

If you are speaking in terms of paying for a house like that in cash, then yes, you're probably right, I don't know many people who can afford that without having family as a backup.

But then again, ultra wealthy refers to billionaires. That's a pipe dream for the most gifted and well connected people in the world, so your argument is kind of flawed. For people who want to be multi millionaires though, it's really not as difficult as you make it seem. You don't need to be second generation or have connections out the ass to make that kind of money.

 

[Gryz]

2 generations of my immigrant family and their successes say that the American Dream is alive and well, for those who are willing to dream big and work hard.

Sure, you can make money by working. You can start with nothing, and get a nice house and nice car and a nice mortgage.

But we were talking multi-million dollar houses. No matter what work you do, and how hard you work, you will not be able to pay a $10 million dollar home from your salary. And even if you start your own business, you'll have to be very very lucky to gain that kind of money.

Suppose you buy a $10M home. With a mortgage. What's the interest rates in your country ? Say it's 1.25%. (That seems the interest rate here in my country. Way down from the 5% when I looked at it 15 years ago). That means you have to pay $125K interest per year. Now suppose you want to pay off the house in 30 years. That's $333K per year. Now the more you paid off your loan, the lower interests become. So let's say that interest + pay you still pay $400 per year.

That's $400K.
Just for the mortgage.
You'll have to pay property tax. You'll have to maintain the house. Etc.

Maybe if you make $500K net, you can afford this. But you'll be bleeding through your ears for the next 30 years.

What if it's a $3M home. Well, first of all, $3M doesn't buy you much special at the beach. And you'll still be paying $133K per year for mortage and interest. That's the beach. I think Manhattan is worse. I know people (ex-collegues) in Silicon Valley that live in $1-2M houses. Nothing special. Those are average houses. My claim stands: you won't get rich by working hard, unless you are also very lucky.

 

[Exterous]

you know there's an easy way to fix that right?

no legos or pistols for a year.

What? Thats barely living!

 

[Exterous]

company buys gun, sell to you at cost + 1 dollar. there are no laws that obligates you to turn a profit. Just don't claim loss :awe:

In the US making a profit is actually one of the measuring sticks the IRS uses to determine business vs hobby for many small businesses. You need a profit in 3 of your last 5 years to avoid hobby status

 

[sdifox]

Hmmm, can you actually do that? I would have figured there would be a requirement to turn a certain profit, or it looks sketchy. Ex: needs to be enough profit to live off of.

I could offer cold storage service in my home server room for a dollar and then write off all my server stuff. I only need like 1 customer, technically right?

There are plenty of companies that dont turn a profit.

Like I said, when you start doing write offs is when you attract taxman attention.

 

[sdifox]

In the US making a profit is actually one of the measuring sticks the IRS uses to determine business vs hobby for many small businesses. You need a profit in 3 of your last 5 years to avoid hobby status

Doesn't matter if it is hobby status as long as the company can buy guns from distributor at lower cost than retail.

Goal is to save money, not build a successful business. But you could if you want.

http://blog.dropshipaccess.com/bid/...p-Firearm-Dropship-Sales-are-Going-Great-Guns

 

[Exterous]

Doesn't matter if it is hobby status as long as the company can buy guns from distributor at lower cost than retail.

Goal is to save money, not build a successful business. But you could if you want.

http://blog.dropshipaccess.com/bid/...p-Firearm-Dropship-Sales-are-Going-Great-Guns

Ah I thought the comment was about a business needing profit from any law standpoint not solely for gun purchase

 

[sdifox]

Ah I thought the comment was about a business needing profit from any law standpoint not solely for gun purchase

he should start a toy store as well. just for lego :awe: