Man Built a $188M Fortune Investing in Stocks Then Donated It to Charity

Post by lotsofpulp » Tue, Mar 30, 2021, 4:14 PM UTC

sethc2 wrote: post #88

Here’s a guy who saved his money and invested it and made a huge fortune from an inherited fortune, all so he could give it away. The response - “ugh what an a-hole, who inherited his wealth”. I’m so sick of hacker news. I mean if you were defending someone who squandered their opportunities but the bias was in the system, I applaud that defense. We should be very aware that some people are screwed and oppressed. But…

Post by 55555 » Tue, Mar 30, 2021, 4:15 PM UTC

nibsfive wrote: post #62

ceejayoz wrote: post #53

Earlier quoted context omitted.

> "Wealth is accumulated through habits" is a great story to tell people but it seems very often to be complete BS. I see a lot of these. One of my favorite examples is https://www.businessinsider.com/how-ebony-horton-paid-off-22... . "How one 31-year-old paid off $220,000 in student loans in 3 years" is the exciting title. You have to get to paragraph #7 to learn "work at your parent's charity" is one of the techniq…

$20M net worth at 27 while being financially independent at 17 years old here. AMA.

Post by lotsofpulp » Tue, Mar 30, 2021, 4:16 PM UTC

adventured wrote: post #48

jsjsbdkj wrote: post #3

From the article: Most millionaires opt for stealth wealth. Their friends don’t know, their coworkers don’t know, their extended family doesn’t know. In a few cases, not even their children know! Wealth is accumulated through habits; at least in a free society like ours. At the moment, something like 1 out of 25 households falls into the millionaire category, most of it self-made. From the comments: Your right in Jac…

> At the moment, something like 1 out of 25 households falls into the millionaire category, most of it self-made. 4% of households is off the mark. It's presently closer to 7%-10% depending on the source [1]. 8% of American adults (~19-20 million people) are millionaires [2]. It's not what it used to be, given the median sale price of a home is now around $350,000. Demographically the mean white household in the US i…

Post by idrios » Tue, Mar 30, 2021, 4:20 PM UTC

ceejayoz wrote: post #53

jsjsbdkj wrote: post #3

From the article: Most millionaires opt for stealth wealth. Their friends don’t know, their coworkers don’t know, their extended family doesn’t know. In a few cases, not even their children know! Wealth is accumulated through habits; at least in a free society like ours. At the moment, something like 1 out of 25 households falls into the millionaire category, most of it self-made. From the comments: Your right in Jac…

> "Wealth is accumulated through habits" is a great story to tell people but it seems very often to be complete BS. I see a lot of these. One of my favorite examples is https://www.businessinsider.com/how-ebony-horton-paid-off-22... . "How one 31-year-old paid off $220,000 in student loans in 3 years" is the exciting title. You have to get to paragraph #7 to learn "work at your parent's charity" is one of the techniq…

Post by sidlls » Tue, Mar 30, 2021, 4:23 PM UTC

misiti3780 wrote: post #76

jsjsbdkj wrote: post #3

From the article: Most millionaires opt for stealth wealth. Their friends don’t know, their coworkers don’t know, their extended family doesn’t know. In a few cases, not even their children know! Wealth is accumulated through habits; at least in a free society like ours. At the moment, something like 1 out of 25 households falls into the millionaire category, most of it self-made. From the comments: Your right in Jac…

Compound interest is a thing. If you are fortunate to have a job that allows you to save money, and you put that money in the S&P 500 it will double every 7-10 years. His wealth was inherited, but if you start to invest money in your 20s, and you invest every month at dont touch it, you will most likely get rich if you live to be a senior.