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How to get rich without getting lucky

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Re: How to get rich without getting lucky

#51

Post by keiferski »

zuck9 wrote: post #44
keiferski wrote: post #33

I’m going to take a contrarian view and say: figure out why you want to be rich, first. For most people, money is a proxy for respect, status, power, security, social skills, romantic attraction from others, free time, or otherwise. If you can ignore the constant “only rich people are meaningful human beings” message that is blared 24/7 from western culture, you might find that it’s easier to just go after what you w…

How does money get you social skills?

If you’re poor and rude, you’re just an asshole. But if you’re rich and rude, well, then you’re “eccentric.”

Re: How to get rich without getting lucky

#52

Post by HugoDaniel »

jstanley wrote: post #46
HugoDaniel wrote: post #20

Earlier quoted context omitted.

That is the premise behind those points and the ones raised by the op: Luck is never part of the equation, just ask your average rich guy from rich families.

If you're asking how to get rich without luck, then of course luck is not part of the equation. If you're asking how to get rich at all , then getting lucky is a valid strategy. This article is about the former.

That is not how luck works.

How do you "strategize" luck ?

Re: How to get rich without getting lucky

#53

Post by mehrdadn »

trevyn wrote: post #48
zuck9 wrote: post #44

Earlier quoted context omitted.

How does money get you social skills?

You can pay people to coach you and to practice with in a low-stress environment. Interestingly, in this same way, money can also buy happiness, through happiness coaching. :)

> Interestingly, in this same way, money can also buy happiness, through happiness coaching. :)

Kind of like this? http://mimiandeunice.com/wp-content/uploads/2011/05/ME_353_D...

Re: How to get rich without getting lucky

#54

Post by thomasahle »

jacquesm wrote: post #8

I know very few people that got rich without getting lucky and none of them would have been rich if they had followed this list. The majority of them simply went into finance, consulting or real estate at a young age and invested their income smartly (retrospectively!). After the first million rolls in if you're young enough compound returns will take care of the rest if you can postpone altering your life-style.

> I know very few people that got rich without getting lucky

> [they] invested their income smartly (retrospectively!).

This sounds like a contradiction?

Re: How to get rich without getting lucky

#55

Post by pavlov »

keiferski wrote: post #33

I’m going to take a contrarian view and say: figure out why you want to be rich, first. For most people, money is a proxy for respect, status, power, security, social skills, romantic attraction from others, free time, or otherwise. If you can ignore the constant “only rich people are meaningful human beings” message that is blared 24/7 from western culture, you might find that it’s easier to just go after what you w…

> ... the constant “only rich people are meaningful human beings” message that is blared 24/7 from western culture ...

I don't think it's only Western culture that is to blame. Middle Eastern, Indian and Chinese cultures seem to have even more ingrained versions of this core assumption.

Re: How to get rich without getting lucky

#56

Post by adrianN »

keiferski wrote: post #33

I’m going to take a contrarian view and say: figure out why you want to be rich, first. For most people, money is a proxy for respect, status, power, security, social skills, romantic attraction from others, free time, or otherwise. If you can ignore the constant “only rich people are meaningful human beings” message that is blared 24/7 from western culture, you might find that it’s easier to just go after what you w…

Any tips on getting security+free time without becoming rich first?

Re: How to get rich without getting lucky

#57

Post by Ma8ee »

zuck9 wrote: post #44
keiferski wrote: post #33

I’m going to take a contrarian view and say: figure out why you want to be rich, first. For most people, money is a proxy for respect, status, power, security, social skills, romantic attraction from others, free time, or otherwise. If you can ignore the constant “only rich people are meaningful human beings” message that is blared 24/7 from western culture, you might find that it’s easier to just go after what you w…

How does money get you social skills?

Maybe you don't need social skills when you are rich enough.

Re: How to get rich without getting lucky

#58

Post by tomaha »

Aaargh20318 wrote: post #42
tomaha wrote: post #13

Earlier quoted context omitted.

But one important part of their success was to invest their income. I know too many people that use their money to consume. Investing early in your life is what makes the difference. It's very easy to spend it on little things and claim to not have anything to invest.

> I know too many people that use their money to consume. All those dumb poor people wasting their money on food.

There is a difference between consuming and getting what you need to live.

Re: How to get rich without getting lucky

#59

Post by jerguismi »

Aaargh20318 wrote: post #42
tomaha wrote: post #13

Earlier quoted context omitted.

But one important part of their success was to invest their income. I know too many people that use their money to consume. Investing early in your life is what makes the difference. It's very easy to spend it on little things and claim to not have anything to invest.

> I know too many people that use their money to consume. All those dumb poor people wasting their money on food.

Well, if you really use money only for basic food and essentials, I think you can survive with very, very little money. I did that when I was a student. Life can be just quite dull if you eat that kind of food from day to day.

What I see is that most people just appreciate the luxury today more than the savings which would enable more luxury tomorrow. I think there's nothing wrong with that. You might die any day in a traffic accident, so why bother saving all that money? Those are quite subjective decisions.

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