All over the world. I came to the conclusion in my 20s that most successful businessmen around the world might be called "Criminals" here in the U.S. by our standards. Because Nepotism is a way of life in most countries like it is in Trump's life too in the way he expands his businesses like a "KING" would.
ON one level there is nothing wrong with loaning your kids money to start their own businesses and training them how to run those businesses. This happens all over the world every day. The problem becomes "What do you think is moral and ethical in any situation and what are you willing to do to get wherever you want to go?"
Every single person has a different answer to this question. But, one thing is sure, there are more poor people and middle Class people who would give you the shirt off their backs in an emergency than there are rich people like this. But, having met a lot of them there ARE many rich people like this too.
I think if you haven't been around rich people as much as I have since I was in my 40s you likely would be surprised how many good rich people there actually are in this world.
When I grew up I hated rich people because I didn't understand them and so they were my scapegoats in life.
But then in my 40s and after my life brought me into contact with many rich people and I had to change my opinion a whole lot because of what I experienced.
To my surprise there are many people much better as well as much worse than I ever would have imagined in any fantasy I might ever have that are rich.
So, I tend to want to hang out more with rich people who are the "Nice Ones". However, I'm always more comfortable around Middle Class people who more share my values.
After growing up
"Where the rubber meets the road" as blue collar tradespeople in my family as Electrical Contractors I had a long way to go before I really could understand what made rich people "tick".
Now I do. And in some ways really rich people are the flipside of what it is to be poor.
In otherwords "Nouveau Riche (new Rich) people are often people who grew up poor, and they often don't know how to make money "multi-generational". You know, like Actors and Musicians. Though they might make a lot of money unless they have degrees in Economics (like Mick Jagger does), you often see them just blow it all within 10 to 20 years.
Because unless you get to the point where you learn that "Principle is everything" in other words "You never touch your principle" ever only your dividends and interest, then you are going to be poor pretty fast if your career ends suddenly when you reach 30 or 40 or 50 as a musician or actor.
So, "easy Come Easy Go" as they say.
So, it is much more likely a middle Class person will figure out how to stay rich if they get there than a poor person will. So, Rich and poor of the Nouveau riche (new rich) often trade places one or more times in a generation.
So, I would recommend learning investing "BEFORE" you make a whole bunch of money or it soon will be gone because you haven't learned the basic rule for keeping money ongoing by properly investing in in Stocks, muni-bonds, real property and whatever else you want to invest in.
But, just remember this REal estate or real property is NOT an ASSET unless it is completely paid for and all you are paying then is property taxes. This is really important to know about for the average investor.
So, your real estate is ONLY an Asset if it's completely paid for AND you can afford the property taxes for the next 40 or 50 years.
No comments:
Post a Comment