Topic: Reason why you will never become rich - page 10. (Read 1157 times)

The first reason has to do with the fact that I, like many here, was not born into a wealthy family.

On the one hand, when you hire (if you have a company or business) members of your family, this can burden you, slow down your business (and lower profits), because instead of your family members, you could hire other people as employees (links to their professional excellence). But on the other hand, there are many examples of successful family business, which allows you to increase wealth in the family and an individual family member as well. I think this should be based on the availability of resources (human capital) that you have and what you are like as a business leader.

The ability to use money is a very important quality. Everyone knows how to spend money. Saving money is stupid because it is subject to inflation and money is meant to be an instrument of exchange, not a savings. Investing is another matter and should be learned.

Are you talking about impressing people with things? How about buying an iPhone on credit? I know of similar examples. In a year or two, your phone model will be of little interest to others, even from the point of view of making an impression.

The only way to get rich I described in the first sentence.

First reason why you don't become rich is hoping and relying on people's empty promises without realizing and your setbacks not getting to the field to work in other to have money, working to earn more money, investing on a long and or a lifetime system

Caring for responsibilities doesn't stop you being rich rather it fights against your savings and financial stability after all at a starting point.
The goal to have money and getting rich is to care for your responsibilities and  the installations of a Financial stability. You don't stay away from your responsibilities in anyways otherwise you become irresponsible while you are out there staging a highily financial status.

This is probably the most difficult aspect of saving money. Most people don't know what they want. They see commercials and think they want something, but they don't.
Have you ever been in a situation where you thought you wanted something, but when you bought it you found out that you don't really use it and owning it doesn't put a smile on your face?
I have a friend who bought an apartment because he thought he needed it, but doesn't even live there. He did it because he saw others do it and thought he would be the same, he'd have his own place, but turns out he feels better renting out a room and living in a small space. He's rarely inside and when he is he either sleeps or works on his computer, so he doesn't really need a big apartment.
Before buying something expensive, make sure you really need it, that it's not just for show.

You mean me? Do you know the country where I come from, or perhaps if I have grown up in a wealthy family where everything is even available for my family and I don't have to spend money on my parents or siblings, but rather they are even the ones spending on me? Although I can understand that so many responsibilities (which doesn't mean only family) can really tie some people down financially and cause them to remain in just one spot, the person can keep moving, but it's just as if the person is moving in a circle; he or she is never growing. What you must know is that the case you are referring to is not just for everyone, as you have made it look. But I agree with the fact that you said one must put his or herself in a better financial level before they can make more sacrifice for the family.


I think the most basic reason why some people, perhaps not everyone, will not be rich is because of mismanagement of money (which was your second point). Some people can have family issues and Money to solve them, but you must not provide solutions to every problem at once; you still have to apply wisdom and know how to utilise your money. No body is Jesus that can die for everyone.

I don't think that a responsible person of a family can never get rich but he can surely become rich if he utilize his income with a better planning. Everyone faces problems in life but if does not mean that one should not struggle to make his life satisfy but instead he can work hard to manage all the activities of a family and also save some money according to the income and planning.

Leaving family without helping them does not sound good but a real man is that who works properly instead of facing difficulties and problems may be he is involved in a single or double job but his aim is always to make his his family life successful.

This has been the problem in our country. Some parents are passing the responsibilities to their children because of the fact that they helped them grow, and paid all of their expenses. I mean for the parents, it's like "It's your time now to help us, and carry the responsibilities because we can't do it anymore.

What's worse is that, there are some parents who can still work, but they are depending too much on their children that they don't want to work anymore. If the family is rich then it's ok, but what if the family is just a typical family type where they need to work on a daily basis just to have food in the table? I really hate this culture TBH, and I guess I can consider myself lucky because we're not a rich family, but my parents aren't like most of the parents out there who are passing the burden to their children, and in fact, my parents already have savings enough to sustain them when they retired.

I will not follow this shitty cycle of ours, and as much as possible I will not depend too much on my future children when I go old. I just remember in a TV show, a contestant who has a baby that's less than a year old saying to him "Grow fast, so that we will not be poor anymore." I mean like WTF!!.

Financial literacy is very low in our country. Many people always spends on some worthless things. There are some who are spending on things that they don't need, but they just want it because they want to brag it to their friends, or it's the pressure from their peers that force them to buy something they don't really need. There are also some who are getting tempted to buy because it's on sale which is very wrong especially if they don't need that thing.

There's nothing wrong in buying liabilities because at some point in our life, we will really buy some of it. The problem for most is that, they are purchasing only liabilities, and they aren't investing. They don't know what's the meaning of assets, and liabilities.

Circumstances and all but no one and nothing would limit you to be rich, if you would push for it. We all have our own struggles on a daily basis. Not to mention successful businessmen/women from different industries who have gone thru same or ecen worse. We all have difficulties coping just to make a living but what would make us better is our drive to be better, basically. Also, will alone won't be enough 'coz u need to act up to it. Luck could also play a keyrole but would you depend everyrhing into it? I ain't rich yet but I do assure that everyday, I am continuing my plans. I managed to finish studying with just pure hard work by doing a part time. I am not there yet but I do believe that I will only lose in life once I choose to stop, which I never had plans of.

You don't need to provide all things, introduce jobs, chances to your family members. They must find it by themselves and you should focus on your job, income, independency, financial freedom.

If they need help and ask you, you can help them when you can do that.

If you proactively help them, they will not appreciate your help but will rely on you more. It is not what you want because you are unable to take care of them forever. It is very big burden on your shoulders and your life will be damaged if you are not financial freedom but want to help many people.

You made good points but I think this is very subjective. I know a lot of rich people who are in a good loving marriage and family. I think it is still more on the perspective of an individual. If you can handle your finances well and smartly, having a family should not be a problem. You cannot force people to not get married cause you believe every outcome will be the same.

(US based opinion)

Marriage  / Divorce and children were horrible to my finances. Marriage is of little to no value here and mostly serves the woman as a means. Then you work hard and become boring and she runs off with a Chad or Tyrone and you flip the bill and lose over half your assets. Heck the court can make you pay her atty to sue you!

Don't get married, don't have kids. There is no need on this planet for more people and having kids is just a societal pressure. If you change your mind just pick any single mother with 3 kids from 5 different dads and pay her bills and trash your time off.

Be single, have wonderful girlfriends and when they stall out move on. Travel the world, scuba dive, fly airplanes, ride motorcycles and keep everything you worked for.

People have been having the same problems and it is not that new anymore because family problems will always be with you as you grow, and it's just it is getting harder as you become older because responsibilities will also grow along with you. Now, you may or may not help your family, that is your choice because I don't think that it is our responsibility either as we are not born in this world to help them but as a human, it's just hard to neglect that and that is why it seems like it is our responsibility even if there is no written rule for that. Remember that is much better if you have a family to depend on, not financially, but someone to run on.

My advise would be, help yourself first because you cannot help others if you yourself is not yet on the position. Just like building a house and stacking bricks to build a wall, you cannot finish your house if you will always give those bricks for them. But that's just situational because we all have our own different choice to make.

This should be phrased differently so people don't misunderstand your point.

Your family problems aren't yours but you can help them if you can. Yes, helping doesn't mean giving money, and yes it will be best if you can give them work instead. However, that's when we talk about family members that are still in productive age. What about your parents for example, what do we do if they need money for medications, etc.? So there's no general rule for this thing, each should be treated based on the case. By ignoring them, you may or may not become rich, but one outcome is certain, that is you'll have no family. Managing this issue is important so they won't depend on you every time, and on the other hand, you still have a good relationship with them.

1. If you can't handle the responsibilities for your family then its your choice to stay away from it but it will work differently for different individuals. Even though a lot of first-generation people became millionaires and billionaires in this modern era still the old heritage family leads the numbers so it's a long-term process that may happen over the next few generations if that has become the goal of your life.

2. Money management is important but it's just too basic so just rule out it.

3. Everyone knows that we need to buy assets, not liabilities but what they are ignorant is can't differentiate assets from liabilities for example a house can be both an asset and a liability too so one who is intelligent enough to identify will has a better chance of becoming rich.

Nonsense. You can definitely become rich. However doing it from zero to hero is pretty difficult. Family plays a very important role here. If you have a middle class family with kids less than 3, it is not impossible to get rich. You just need to play your cards right. If you get high grades and go to a fairly good college, start a business or have a good paying job (like being a doctor), you can become rich in less than 20 years. If you are lucky, you will have enough money to get retired in your 40's, if not you will work till your 50's. As you see age is an important aspect too. Being rich in your 20's and 30's is a lot more attractive than getting it in your 50's. You just have to start thinking about all that while you are very, very young.

In Asian culture, when you're the eldest, it's quite common to be cursed with this "responsibility". I know you're speaking for the general like having a family as father/mother, but this is another reason why it is not common for people here in my country to be a rich individual. Once you hit the genetic lottery of being the eldest one in the family, depending on what type of family you grew, you might be screwed since every burdens of your family and that includes your parents debt will be passed into you.

Unless you have the balls to separate from your family at the legal age which I believe is a common culture in 1st world countries, then you're almost never going to be rich. You might not be poor, but you'll just be average and thank fucking God, I am not a spoiled one.

When you're exposed too much to the internet realm, this is going to be an issue. You still "need" to buy your "wants" sometimes. You're not going to bring your money to the grave. I am not saying that you shouldn't save. Save some, but don't forget to get yourself something nice. Don't feel too bad in treating yourself.

For the first reason if what you mean by family is your parents/sibling then I do agree, some people were born in a poor family and it's one of the biggest reason that prevent them from compounding wealth, if what you mean by family is your own family e.g wife/kids then it's actually your own fault, anyone who want to start a family need to considering their financial condition, they need to be ready on every aspect, especially financial.

Second and third reason is quite similar I think, using money also means buying stuff. I don't think buying 'liabilities' or as you describe something that degrading in value is always bad. If those liabilities increasing productivity then it is a good thing.

Well said, mate. This topic made me realize that I am somewhat occupied by some family problems which are stressful and at times consume my mind instead of focusing on the opportunities and accomplishing my goals in life. And it is not easy to escape them especially when you're living together. Right now, I am saving as much as possible so I can invest and then start another business sooner than later.

When it comes to spending, saving, and liabilities, I am very well aware of them. I do not spend over my means nor do I save money in order to buy something unnecessary.

Now my question is: have you become rich when you've left responsibilities for your family? I don't know where you came from or what is really on your mind, but I don't see any hindrance to it. I mean, it can make you strive more and give you motivation because if you are just living alone and making a living on your own, trust me, you won't get rich that time unless you are a workaholic and very business-minded. Your family is your guide; trust me, they have more experience than you, and they are giving you advice on what makes you better. My only explanation for your lack of wealth is that you are too lazy to do things.

The rich side is sebjetif but you seem to lead to economic matters, I will try to follow the pattern you give friends.
In my opinion about the number of responsibilities, it is not something that needs to be conveyed, because in truth you will feel responsible for them if your position is better, why is the mindset in it being revealed, it becomes more responsibility that becomes an encouragement to yourself that You have a lot of dependents and you have to be rich.

The other side is this if someone feels that he has responsibility, he will always struggle harder to be able to help himself and his family, and most successful people are those who have a more sense of responsibility, throwing that feeling is ignorance in my opinion.

What you need to instill in you is, with the many responsibilities means you must have a lot of ability to encourage you to be rich to meet their needs.
If you get rid of that responsibility and if you don't have the ability and mentality to become rich, your position will not have any development at all and that wealth will only be an illusion for you.

Investment can provide a way to get rich but it depends on what we invest. If someone want to become rich, a person must be able to make savings from expenses every month so that he still has money to save. But once again, with the current economic situation, it's not easy for someone who works in an office or company to save money.

We may have tried to save money and not buy things we don't need. But sudden needs must always be met immediately and other sudden demands. But we could still work on it if getting rich was our goal.

And by having an investment, we can prepare for the future to be better than now. And, with this investment, we hope to get benefits in the future so that our lives can change for the better. But if it's about family, I think almost everyone would want to help their family, especially if it involves their parents.