Topic: Reason why you will never become rich - page 6. (Read 1230 times)

I don't disagree with OP about responsibilities because it is true that responsibilities do make you slow down in progressing in your own life and career, especially if you are the sole breadwinner for the whole family, including your parents and siblings and your wife and children, and if you don't have any inheritance that can make you rich without having to struggle yourself, but I also agree about your point that we have to move along with these responsibilities.

There are a lot of people who are successful, rich, have a lot of wealth, and take care of everyone that lives with them, some even help their relatives if they have a big heart. So, responsibilities might slow you down, but they can never stop you as long as you are determined and have a lot of dedication.

Being a rich man begins from the heart, what the heart can conceive we can achieve and what it can't we may not achieve as well, being rich is a decision and also a mentality some people develope for themselves to never settle for less or remain poor and they strive and work towards that determination and it becomes a reality with time, the process is what the people lack the understanding to, maybe because of fear or personal decision together with their mentality that they cannot achieve anything and make it possible.

You should really be mindful about putting up boundaries or having that mindful on keeping up some savings or extra amounts which would really be saved up for yourself and not really that giving it all when you do

tend to support your family.Its never been bad on taking up some responsibilities sometimes specially if you do see your parents are struggling and since you have finished up your studies because of their sacrifices then it would really be that giving out that kind of being guilty if ever you wont really be supporting or helping them on the time that you do see that they are still struggling on letting your brothers or sisters taking up college or even on the needs inside the house on which you cant really turn your back but of course everything should be on limit.Save up accordingly or some portion of your salary despite on having that kind of support because if you do go all in, then you cant really see any progress in your life.

You would really be coming into a point that you would really be realizing that it is really just that too much.You are sacrificing your own life for theirs for too long.
This is why you should really know on how to draw a border line when it comes to this situation but not on all of your life you would really be just like that. Sooner or later you would really be
already the one who would be raising up your family on which it would really be just that right that you should really be preparing for such manner.

The only reason why a person never get rich overtime simply because he is not working on it. Because even if you are helping your loved ones with their finances, that is not enough reason that you will not prosper on your own. The more that you are supporting your family when it comes to financial aspects, the more that you will strive hard in your life so that you will achieve financial stability in order to give more to your family. That is not a burden for me but actually a motivation for me that everything in life is possible as long as you keep on doing to the best of your ability and you will never stop taking advantage on every opportunity that comes especially if it will improve your status in life.

The constant balancing act between spending and saving is indeed a constant struggle. It's a ubiquitous part of our lives, isn't it? Nonetheless, I'd argue that our perception of "needs" is very subjective, depending largely on our individual lifestyles and socioeconomic backgrounds. While we all spend on necessities, the definition of "necessity" can vary vastly from person to person

Moreover, it's interesting that you link savings directly to surplus income after meeting basic needs. True, in a practical sense, you're right. But, isn't frugality an attitude that transcends financial states? Isn't it possible to save, albeit small amounts, even when our finances aren't exactly overflowing? On investments, I agree; it's a privilege not everyone enjoys. But we mustn't overlook the power of micro-investments and the potential for economic mobility they present, don't you think?

Having family obligations can be balanced with your daily life. The best way to support the family is not just about giving money but to offer real help to train members of the family to be independent and self reliant because money will finish some day or may not continue flowing like you said, so if you have succeeded in taking part of the family out of poverty earlier enough, when the money stop coming, you can also get a helping hand. Life is a circle and we have to move with it.

The points you listed are all correct but it all depends on the environment and situation you found yourself in, first off, there are no escape root of surviving without spending money on daily basis but your ability to spend on the things that are needed matters alot. For instance, spending is very easy than making money but you don't complain after spending money on some unforseen circumstances because they must surely come but saving to sort out some financial problems is the key to surviving in difficult times so no one should see spending on things as unnecessary spending.

What are the things you feel are not needed that one spend on? I think we spend money on things that are needed by us or others so long as you are not influenced by anyone to spend I don't think we consider things we spend on as things not really need because no one actually forced you, concerning savings, you can only save when you have enough to eat that means your financial power is above average but I don't think people will have money to save when they find it difficult to afford meals and other things which are the basic needs of human beings. When it comes to investment, you only invest when you have the financial strength but when one is without a good job and skill, I don't think such person will have what it takes to think about investment of any kind.

Your words may help some, but in my opinion, all I see is your subjective opinion. It may seem that you have a bad opinion about your family, but the truth is that you cannot deny your responsibilities and obligations towards your family, and ensuring your responsibilities towards your family. is an important part of life.

My point is that putting yourself in a better financial position is also part of the family responsibility. When we are economically stable, we can provide a better environment for and free them from dependence. That is to have empathy, a sense of responsibility, to care about family members and to become a more responsible person instead of denying and abandoning family members as you said.

What you said is so accurate but it is highly dependent on the economy you find yourself. Relatives in developed countries does not depend on their relatives to be prosperous and neither for any financial help. Probably, the government has provided the basics of living for everyone and they also have some unemployment entitlement until they are legitimately employed. This cannot be said about so many under developed countries whose government doesn't exist or are simply corrupt.


This is very common among the youths who doesn't live according to their budget, rather they live according to how their age mates and peer group live. They spend more than necessary and most times cannot account for their spending.


This is not proven. Investment is not the only way to become rich. You can save your way all the way to richness and I am serious about this. Try save upto 20% percent of your income and see yourself in the next 5 years.

If a man is irresponsible then that man is terrible. When a family is born, family responsibilities must be fulfilled. When you were young your parents didn't even think of spending money behind you they sacrificed their own beautiful future just to make your future bright then how do you think you won't take the responsibility of the family. Changing one's position is not the most important thing, living well with family is a very important thing. Money is not permanent, you have a lot of money right now, you may not have that money at some point, so it is never right to avoid family responsibilities just to increase money.

There's a popular adage that says "teach me how to fish don't just be giving me the fish" , leaning on that I'll say the richest families are not those with one wealthy trillion and poor brothers that depends on him to clear their bills but it's the families where each person in the family is in a comfortable standard of living having not to bother the next siblings to be able to meet up his responsibility, each financially independent of themselves.

They must not all be millionaires or billionaires to be called wealthy family but long as they've got a good source of income/jobs that each person's lives comfortable that's  what matters.
I can only sum it all in one word mismanagement.

You forget to add, there is just too many want to scam you, friends, close friends, spouse, sibling, but are all look totally nothing more than scammer in the eyes, people are getting more and more savage by the day, due the soaring pressure, soaring stress, soaring inflation, survival bias is too soaring to skyhigh, a one used to be sweet and nice guy would one day turn into backstabbing unreasonable conman, it is not that they are very bad person, when survival of the fittest forced at their head like a pointing gun, what else choice does a person have? Either dead or alive.

We will never be rich because every day our responsibilities and cost of living increase but our salaries or earnings remain the same. Unfortunately, in today's conditions it has become quite difficult to save money, let alone being rich. Especially in this order, our salaries or earnings which we can describe as insufficient, unfortunately cannot meet our daily living expenses and responsibilities. This situation causes the quality of life to decrease or  using the previous savings. In addition, due to the fact that many investment instruments have turned into financial traps today unfortunately it has become very difficult to make money by investing. For this reason, I think that we will never be rich and unfortunately our quality of life will decrease a little bit every day.

Assisting one's family is a virtuous pursuit. In fact, the members of our family must collaborate harmoniously to address any challenges that may arise within the household. At times, familial issues play a crucial role in shaping our future. Therefore, our primary duty lies in fostering a more conducive family environment, thus creating a support system that facilitates everyone's journey towards success.

Remember, even in the direst circumstances, there remains a caring family that values your presence. Do not squander the precious bonds of your extended family.

Regarding the most effective expenditure, indeed, investment holds great promise. Nonetheless, each individual possesses varying financial standards, and it is a matter of adapting accordingly. Above all else, prioritizing health is paramount.

You can't help a person in that is drowning if you are still taking swimming lessons. This used to be me some years ago. I wanted to help everyone when I got my first job straight out of college. I would feel guilty when I was unable to meet the need of any close family member or friends. But his wasn't helping my own financial condition in any way. I was always giving and would end up having nothing left. I knew this had to change. As much as I wanted to lend a helping hand, I had to acknowledge within myself that I cannot help everyone and that they would be fine. If I don't help them, they would get help somewhere. I reduced the assistance I rendered and things started to look fairly good for me financially.


This is teaching how to fish and not giving fish.


This is true but you must not forget that for some people they are already have a disadvantaged background and no matter how much they try to cut down on their expenses, save, and invest, they just can't seem to have enough left. Remember how they put, the money you saved ends up saving you.

A bit vague what you say but OK.


I put savings and investment in the same category, they would be two subcategories of the same thing, but you left out a very important one, giving. In other words, for me, I either spend my money, save/invest it or donate it.


With this, I agree.

Instead of talking about getting rich, because it is a concept that can vary over time and depending on the geographical situation, I like to talk about improving your economic situation. And that is within everyone's reach from the moment they start to control income and expenses and try to diversify and maximize income. With the surplus, an emergency fund is saved and the rest is invested. With this, everyone improves and lives more peacefully.

Getting rich is not that simple. Sometimes you need "luck" to get rich and work smart. That's right, work smart and get lucky, because most people think that rich people get their wealth from hard work, but they work smart to outsmart things in their lives. And another factor is luck, most of the rich people get lucky in their life. There are those who are lucky from the results of gambling in one of the companies that are not big and get a lot of money from it, there are those who are lucky to get big projects from their friends, and so on.
Indeed working hard and saving money is one way to get rich, but you have to consider the factor of working smart and luck, because that is usually the biggest factor in someone's success.

Well its me, a sandwich generation that pays the elderly and our kids. Tho Im not married yet but when I do Im gonna pay kids and parent at the same time. Exhausting but it is what it is.

Tho if we want free from sandwiches generation we should invest at a very early age and really have tight budget to do everything. Work hard Invest hard even this would be little bit hurt.

In short, one must be aware of their status, their capability to obtain finances and their source of income.  Also one should learn how to manage their finances in order to set right budget and not overspend while have the ability to acknowledge right investment ventures.  It needs a lot of studying and thought, and by learning that we might be uncovering the secret to get rich.  Having none of these attribute will surely make us broke and unable to step on the realm of the wealthy.

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Need to learn how to lead life with the available resources. What we do now will let us be free and have comfortable living in the later years. This is something proven in everyone's life. In my country the parents work hard and give the comfort to their kids and the kids when grown up moves to the next level of living. Some sort of sacrifice is essential to reach a position. The parents couldn't have enjoyed the life, but they've made better path for their kids. This is the base apart from the investment and other productive measures of making money. So, starting with the base and moving further with educated investment seems to be good.

I think the main hole for someone in managing their financial management is very influential in their economy. Because if someone is very royal or wants to live in luxury without being supported by commensurate income then he becomes someone who will live continuously under the pressure of luxury without realizing that he is entangled in a lot of ongoing credit.[/quote]

In short, one must be aware of their status, their capability to obtain finances and their source of income.  Also one should learn how to manage their finances in order to set right budget and not overspend while have the ability to acknowledge right investment ventures.  It needs a lot of studying and thought, and by learning that we might be uncovering the secret to get rich.  Having none of these attribute will surely make us broke and unable to step on the realm of the wealthy.