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[personal profile] kengr
the fact that donald trump can make a lot of money inspires me - if he can do it, how hard could it be

An important but oft overlooked point regarding all these rich people.

How much money did they *start* with? Often their money (or their family's money) was far higher than a "normal" person would have. That's not "merely" a "step up" it's a *huge* advantage.

The resources you have to start with influences the results in a *very* non-linear manner. 10 times the starting resources doesn't give you 10 times the results. More like 100 times.

Another important point is "who did they know?" What sort of contacts did they have from family, friends, school, etc. This is another force multiplier.

If you "know somebody" you aren't just more likely to get a job. You are more likely to get a *good* job (as opposed to an "entry level" job that's essentially dead end.

And this, btw, is why upper middle class types think "get a job" is a reasonable thing to tell somebody. Because they *do* have starting resources and contacts (or did when *they* were entering the work force).

"middle" midle class folks think this too. Many of them have gotten a rude shock when they got dumped back into the job market and found out that they no longer have the contacts that got them a good job when they were young.

Date: 2015-07-04 11:57 am (UTC)
From: [identity profile] louisadkins.livejournal.com
The trick on getting richer is simple. It has nothing really to do with a person's job, really. You simply have to have enough money for your money to make enough money for you to have enough money for you to live on, and still make money with.

Once you're rich, or devilishly lucky, you can get the big paying positions that get abbreviations. IOW, you have to Have Money To Make Money... (or, eve more blunt, as you titled - Them that has, gets.)

Knowing someone who can help influence you getting hired is good, for getting a good job. For now. (just saw a post the other day about how places are likely to start going to computer algorithms to decide hiring.)

Inheriting money means you can move straight to living partially/fully off investments.

I once audited a business class, in college, and the professor started out the first class (every semester) with - if you have thirty thousand dollars and the patience to wait about thirty years, I can guarantee you will be a millionaire by following my advice. It wasn't a joke. The fact that fifteen years ago it would have required that much to become what most wealthy people consider "rich" is a telling point, though. (I point out that most people tend to consider "rich" to be making 2.5-3x their current income, until you get into the mid-six-digit range, at least in my experience.) (EDIT - I just wanted to drop in a phrase I have heard before - "Your first million is your hardest!")

I am not surprised at all that a lot of the "get-a-job-ers" that are finding themselves slipping pink are also finding that it just isn't that easy, anymore. Perceptions get locked in, and most people don't realize when, ten years later, the world is upside down - their feet are firmly on the ground, which just happens to be facing one-hundred eighty degrees from where it was.

When I was in college, one of the facts they pressed on us was that by 2012 the workforce was being estimated to be made up of more than 50% (of varying forms of) self-employed workers.

(I could rant on here for a while, but I have probably put up a high enough wall. :) )
Edited Date: 2015-07-04 11:59 am (UTC)

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