Let’s pull back the curtain on wealth

[expos]

I’ve become friends a with few very wealthy individuals in the past two years based on my occupation. I’m not a rich person at all, so how they made their money was of interest to me.

People like to put a lot of emphasis on wealth and success and I’m writing today to talk about two individuals and how they compare and contrast to people outside that 1% (and to me, someone just around that 15%).

The first one is…Peter (names changed to protect these individuals).

Peter is the the CEO of not one, but two companies. He went to business school and didn’t have a dollar to his name when he started his career in finance. He had a passion with for real estate development and opened a chain of restaurants with a good friend. He was able to get investors through his finance job and the rest is history.

The pros: Beautiful home, respected individual, very philanthropic, basically set for life. Peter treats everyone the same regardless of wealth.

The cons: So many people come to him for handouts, worked too hard over the past couple of years that he had to step down and let someone else take the reigns on one of his companies to avoid burnout and save the company, involved in a lawsuit with another business, doesn’t bat 100% with all of his business and while none of them have failed, a recession nearly tore down his empire. He also lost out on a piece of property that was too expensive…his bid was not high enough…and if he did get it, it was a major win for his company but he lost out. He’s still very upset about this…and he knows people are richer than he is and and wield more power in the community.

The second one is….Pam (not her real name).

Pam is the CEO of a Concrete business that she started with her husband who came from a lot of money. Pam married into wealth, but she did go to medical school and did work hard in her youth.

The pros: Treats everyone the same and is also set for life. Takes long vacations to warmer climates during the winter.

The cons: While nobody really asks her for handouts, Pam is not very charitable at all with her money and is extremely stingy. She doesn’t take risks that are necessary for growth. Has also ran into legal problems with one of her side businesses and was involved in a lengthly court battle. Also had a drainage issue at one of her properties that proved to be catastrophic and expensive to repair. Has a son with serious health issues and a criminal record.

People like to think these people have it really easy and that it must be really nice to be set for life, etc, but the reality here is that they still are very normal people who just happen to have successful ventures. In many ways, their lives are difficult as anyone else’s.

They still get up everyday and have feelings of self doubt and like they’ve failed in someway. Another thing to mention is that these two are not in their 20’s, they are both 60 years and older. If you are thinking they are off jet skiing in Ibiza, you are mistaken. They are usually at home or in the office planning working to keep their businesses alive. You'd be surprised on how many millionaires have a similar life of working like a dog with not a lot of genuine satisfaction.

I hit age 40 this past year and in my early 30’s all I could think about was how much money I wanted to make. Once I hit my financial goal, it was very anti-climatic. In fact, lots of sacrifices needed to be made to get there and I look back at myself a decade ago and I’m envious about the emotional state I was at and how I had more time to do the things I wanted to do. I was more spirited by a good margin, skinnier and healthier, and carefree.

Money doesn’t magically repair those things for you, it just makes you work harder to keep it and lose parts of yourself in the process.

I think we need to think more about balance and glamorizing wealth. I’m curious to hear other’s thoughts.

 

[EyeBRollin]

In my experience wealthy people who are well educated tend to be some of these most philanthropic and decent people. The ones that made it with no formal education tend to be nastier and more xenophobic. Just my observation.

 

[RickTheToad]

I’ve become friends a with few very wealthy individuals in the past two years based on my occupation. I’m not a rich person at all, so how they made their money was of interest to me.

People like to put a lot of emphasis on wealth and success and I’m writing today to talk about two individuals and how they compare and contrast to people outside that 1% (and to me, someone just around that 15%).

The first one is…Peter (names changed to protect these individuals).

Peter is the the CEO of not one, but two companies. He went to business school and didn’t have a dollar to his name when he started his career in finance. He had a passion with for real estate development and opened a chain of restaurants with a good friend. He was able to get investors through his finance job and the rest is history.

The pros: Beautiful home, respected individual, very philanthropic, basically set for life. Peter treats everyone the same regardless of wealth.

The cons: So many people come to him for handouts, worked too hard over the past couple of years that he had to step down and let someone else take the reigns on one of his companies to avoid burnout and save the company, involved in a lawsuit with another business, doesn’t bat 100% with all of his business and while none of them have failed, a recession nearly tore down his empire. He also lost out on a piece of property that was too expensive…his bid was not high enough…and if he did get it, it was a major win for his company but he lost out. He’s still very upset about this…and he knows people are richer than he is and and wield more power in the community.

The second one is….Pam (not her real name).

Pam is the CEO of a Concrete business that she started with her husband who came from a lot of money. Pam married into wealth, but she did go to medical school and did work hard in her youth.

The pros: Treats everyone the same and is also set for life. Takes long vacations to warmer climates during the winter.

The cons: While nobody really asks her for handouts, Pam is not very charitable at all with her money and is extremely stingy. She doesn’t take risks that are necessary for growth. Has also ran into legal problems with one of her side businesses and was involved in a lengthly court battle. Also had a drainage issue at one of her properties that proved to be catastrophic and expensive to repair. Has a son with serious health issues and a criminal record.

People like to think these people have it really easy and that it must be really nice to be set for life, etc, but the reality here is that they still are very normal people who just happen to have successful ventures. In many ways, their lives are difficult as anyone else’s.

They still get up everyday and have feelings of self doubt and like they’ve failed in someway. Another thing to mention is that these two are not in their 20’s, they are both 60 years and older. If you are thinking they are off jet skiing in Ibiza, you are mistaken. They are usually at home or in the office planning working to keep their businesses alive. You'd be surprised on how many millionaires have a similar life of working like a dog with not a lot of genuine satisfaction.

I hit age 40 this past year and in my early 30’s all I could think about was how much money I wanted to make. Once I hit my financial goal, it was very anti-climatic. In fact, lots of sacrifices needed to be made to get there and I look back at myself a decade ago and I’m envious about the emotional state I was at and how I had more time to do the things I wanted to do. I was more spirited by a good margin, skinnier and healthier, and carefree.

Money doesn’t magically repair those things for you, it just makes you work harder to keep it and lose parts of yourself in the process.

I think we need to think more about balance and glamorizing wealth. I’m curious to hear other’s thoughts.

Personally, I can't stand it when the commoners hop around my castle in Ibiza. Ahh, par for the course I guess.

In my experience wealthy people who are well educated tend to be some of these most philanthropic and decent people. The ones that made it with no formal education tend to be nastier and more xenophobic. Just my observation.

I'm with "Pam", charity begins at home dude.

 

[switch7]

Personally, I can't stand it when the commoners hop around my castle in Ibiza. Ahh, par for the course I guess.

You have a place in Ibiza?

 

[EyeBRollin]

I'm with "Pam", charity begins at home dude.

Is that your way of saying fvck poor people?

 

[RickTheToad]

You have a place in Ibiza?

In my dreams.

Is that your way of saying fvck poor people?

Nah. Worry about yourself, family (if you have one), assets, pets, and then one can tithe to their hearts content. Unfortunately, the one's who do tithe, do it in reverse; then wonder why they cannot make ends meet. But, they pray to their God of choice for assistance.. Ass backwards dude.

 

[EyeBRollin]

Nah. Worry about yourself, family (if you have one), assets, pets, and then one can tithe to their hearts content. Unfortunately, the one's who do tithe, do it in reverse; then wonder why they cannot make ends meet. But, they pray to their God of choice for assistance.. Ass backwards dude.

We get it you hate poor people. That’s a long winded explanation for such a simple question.

 

[RickTheToad]

We get it you hate poor people. That’s a long winded explanation for such a simple question.

Yea, that's it bright eyes. You smart and you remind me of this guy.

 

[wifehunter]

I’ve become friends a with few very wealthy individuals in the past two years based on my occupation. I’m not a rich person at all, so how they made their money was of interest to me.

People like to put a lot of emphasis on wealth and success and I’m writing today to talk about two individuals and how they compare and contrast to people outside that 1% (and to me, someone just around that 15%).

The first one is…Peter (names changed to protect these individuals).

Peter is the the CEO of not one, but two companies. He went to business school and didn’t have a dollar to his name when he started his career in finance. He had a passion with for real estate development and opened a chain of restaurants with a good friend. He was able to get investors through his finance job and the rest is history.

The pros: Beautiful home, respected individual, very philanthropic, basically set for life. Peter treats everyone the same regardless of wealth.

The cons: So many people come to him for handouts, worked too hard over the past couple of years that he had to step down and let someone else take the reigns on one of his companies to avoid burnout and save the company, involved in a lawsuit with another business, doesn’t bat 100% with all of his business and while none of them have failed, a recession nearly tore down his empire. He also lost out on a piece of property that was too expensive…his bid was not high enough…and if he did get it, it was a major win for his company but he lost out. He’s still very upset about this…and he knows people are richer than he is and and wield more power in the community.

The second one is….Pam (not her real name).

Pam is the CEO of a Concrete business that she started with her husband who came from a lot of money. Pam married into wealth, but she did go to medical school and did work hard in her youth.

The pros: Treats everyone the same and is also set for life. Takes long vacations to warmer climates during the winter.

The cons: While nobody really asks her for handouts, Pam is not very charitable at all with her money and is extremely stingy. She doesn’t take risks that are necessary for growth. Has also ran into legal problems with one of her side businesses and was involved in a lengthly court battle. Also had a drainage issue at one of her properties that proved to be catastrophic and expensive to repair. Has a son with serious health issues and a criminal record.

People like to think these people have it really easy and that it must be really nice to be set for life, etc, but the reality here is that they still are very normal people who just happen to have successful ventures. In many ways, their lives are difficult as anyone else’s.

They still get up everyday and have feelings of self doubt and like they’ve failed in someway. Another thing to mention is that these two are not in their 20’s, they are both 60 years and older. If you are thinking they are off jet skiing in Ibiza, you are mistaken. They are usually at home or in the office planning working to keep their businesses alive. You'd be surprised on how many millionaires have a similar life of working like a dog with not a lot of genuine satisfaction.

I hit age 40 this past year and in my early 30’s all I could think about was how much money I wanted to make. Once I hit my financial goal, it was very anti-climatic. In fact, lots of sacrifices needed to be made to get there and I look back at myself a decade ago and I’m envious about the emotional state I was at and how I had more time to do the things I wanted to do. I was more spirited by a good margin, skinnier and healthier, and carefree.

Money doesn’t magically repair those things for you, it just makes you work harder to keep it and lose parts of yourself in the process.

I think we need to think more about balance and glamorizing wealth. I’m curious to hear other’s thoughts.

If the 'powers the be' wasn't so busy destroying the money, the story would be 100% different.

Instead... we slave to survive.

 

[GrowingPains]

 

[evan12]

I’ve become friends a with few very wealthy individuals in the past two years based on my occupation. I’m not a rich person at all, so how they made their money was of interest to me.

People like to put a lot of emphasis on wealth and success and I’m writing today to talk about two individuals and how they compare and contrast to people outside that 1% (and to me, someone just around that 15%).

The first one is…Peter (names changed to protect these individuals).

Peter is the the CEO of not one, but two companies. He went to business school and didn’t have a dollar to his name when he started his career in finance. He had a passion with for real estate development and opened a chain of restaurants with a good friend. He was able to get investors through his finance job and the rest is history.

The pros: Beautiful home, respected individual, very philanthropic, basically set for life. Peter treats everyone the same regardless of wealth.

The cons: So many people come to him for handouts, worked too hard over the past couple of years that he had to step down and let someone else take the reigns on one of his companies to avoid burnout and save the company, involved in a lawsuit with another business, doesn’t bat 100% with all of his business and while none of them have failed, a recession nearly tore down his empire. He also lost out on a piece of property that was too expensive…his bid was not high enough…and if he did get it, it was a major win for his company but he lost out. He’s still very upset about this…and he knows people are richer than he is and and wield more power in the community.

The second one is….Pam (not her real name).

Pam is the CEO of a Concrete business that she started with her husband who came from a lot of money. Pam married into wealth, but she did go to medical school and did work hard in her youth.

The pros: Treats everyone the same and is also set for life. Takes long vacations to warmer climates during the winter.

The cons: While nobody really asks her for handouts, Pam is not very charitable at all with her money and is extremely stingy. She doesn’t take risks that are necessary for growth. Has also ran into legal problems with one of her side businesses and was involved in a lengthly court battle. Also had a drainage issue at one of her properties that proved to be catastrophic and expensive to repair. Has a son with serious health issues and a criminal record.

People like to think these people have it really easy and that it must be really nice to be set for life, etc, but the reality here is that they still are very normal people who just happen to have successful ventures. In many ways, their lives are difficult as anyone else’s.

They still get up everyday and have feelings of self doubt and like they’ve failed in someway. Another thing to mention is that these two are not in their 20’s, they are both 60 years and older. If you are thinking they are off jet skiing in Ibiza, you are mistaken. They are usually at home or in the office planning working to keep their businesses alive. You'd be surprised on how many millionaires have a similar life of working like a dog with not a lot of genuine satisfaction.

I hit age 40 this past year and in my early 30’s all I could think about was how much money I wanted to make. Once I hit my financial goal, it was very anti-climatic. In fact, lots of sacrifices needed to be made to get there and I look back at myself a decade ago and I’m envious about the emotional state I was at and how I had more time to do the things I wanted to do. I was more spirited by a good margin, skinnier and healthier, and carefree.

Money doesn’t magically repair those things for you, it just makes you work harder to keep it and lose parts of yourself in the process.

I think we need to think more about balance and glamorizing wealth. I’m curious to hear other’s thoughts.

just like a king and the citizen, if you are a king you will have more problems and maybe bigger problems than the regular citizen , who also might have his own problems.
if you ask me which one you prefer to be I still prefer to be the king .

 

[Julian]

Every wealthy rich person i ever met was some boomer who got rich through generational wealth, getting degrees and houses when it was dirt cheap. And before america outsourced everything. And scamming people all along the way

I stopped chasing money its worthless to me. I am working hard at being successful and money will come with that naturally. I dont worship $ like i did previously

 

[candyman105]

Peasants.

 

[EyeBRollin]

Yea, that's it bright eyes. You smart and you remind me of this guy.

Ironically, bright eyes is the name of movie character I most identify with’s Mother.

 

[Black Widow Void]

Is that your way of saying fvck poor people?

@EyeBRollin
Let's be clear about the average typical U.S. "poor" person. There are typically no "victims." In the U.S. financial status is an individual choice.
I speak with experience on the matter.
To give an example: while in school, my best friend worked two jobs, Due to his workload, it took him longer to get his degree, but he succeeded and is now wealthy.
While in our 20's, I made different choices. I spent money on buying records, I stayed out late, went to all the parties, attended the punk rock shows and got laid far more often. If I woke up hungover, I had the luxury usually sleeping it off with less responsibilities than my best friend.

As a result of my choices, I am self-supportive, but Faaarrrrr from wealthy.
In other words... I made a choice in life. I live with it and I accept my choice. I'm no victim.
Think about this. We all made choices in our lives Why would any of us ask someone that is far more wealthy to finance us based on our earlier short-sighted decisions in life?

 

[EyeBRollin]

@EyeBRollin
Let's be clear about the average typical U.S. "poor" person. There are typically no "victims." In the U.S. financial status is an individual choice.
I speak with experience on the matter.
To give an example: while in school, my best friend worked two jobs, Due to his workload, it took him longer to get his degree, but he succeeded and is now wealthy.
While in our 20's, I made different choices. I spent money on buying records, I stayed out late, went to all the parties, attended the punk rock shows and got laid far more often. If I woke up hungover, I had the luxury usually sleeping it off with less responsibilities than my best friend.

As a result of my choices, I am self-supportive, but Faaarrrrr from wealthy.
In other words... I made a choice in life. I live with it and I accept my choice. I'm no victim.
Think about this. We all made choices in our lives Why would any of us ask someone that is far more wealthy to finance us based on our earlier short-sighted decisions in life?

This is just another long winded rationalization for - “fvck poor people.” I’m not wealthy, pay more than my fair share of taxes, yet don’t harbor such disdain for the less fortunate. Perhaps you should be more grateful for your lot in life.

 

[jaymbrs]

This is just another long winded rationalization for - “fvck poor people.” I’m not wealthy, pay more than my fair share of taxes, yet don’t harbor such disdain for the less fortunate. Perhaps you should be more grateful for your lot in life.

You're taking it to the extreme. My friend who is broke, doesn't receive handouts from me. Does that mean I don't give a **** about him? No. It just is what it is.

 

[EyeBRollin]

You're taking it to the extreme. My friend who is broke, doesn't receive handouts from me. Does that mean I don't give a **** about him? No. It just is what it is.

That’s a terrible analogy. Is your friend homeless? Does he have malnourished children?

 

[jaymbrs]

That’s a terrible analogy. Is your friend homeless? Does he have malnourished children?

Again, taking it to the extreme. You don't have to be either of those to be poor.

 

[taiyuu_otoko]

Many poor people are poor because of reasons that aren't totally under their control. Yes, they make choices, but they also might start off with plenty of handicaps beyond their control. Bad parents, bad teachers, bad friends. Yes, you can pull yourself up from your boot straps, but that's much easier said than done.

And, most rich people are simply lucky. Especially real estate investors in the past few decades who could swing a dead cat blind folded and still hit a couple big wins, due to the current American economy being in essentially the largest asset bubble in human history.

Nobody likes to hear this since we love to believe we are in charge of our own lives.

There is a fantastic documentary somewhere that started out as a study of a super rich couple (husband was a time share empire builder) but halfway through the documentary, 2008 happened and fvcker lost everything.

I would suggest that OP needs a much bigger sample size.

Perhaps compare and contrast folks who got rich in real estate, investing, etc. vs. those who got rich by building something tangible and selling their products/services to voluntarily paying customers.

I'd bet the second half don't see their job as a trap nearly as much as the first half.