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  #1  
Old 04-11-2011, 03:57 PM
Linsey23 Linsey23 is offline
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Default The Rich Get Richer

I always hear people at work say this. As if it is an excuse or justification as to their own personal financial situation. It’s like "Oh well, what can I do. The rich get richer."

The gap between the rich and poor continues to widen. Why is this?


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Alfredo Piacentini

Last edited by Linsey23; 04-11-2011 at 04:23 PM.
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  #2  
Old 04-12-2011, 11:31 AM
littleroc littleroc is offline
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Default Re: The Rich Get Richer

Because people love to complain about things. The reason IMO the rich get richer is because they are out there busting their butts trying to succeed.
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Old 04-14-2011, 03:06 PM
FinancialGuy FinancialGuy is offline
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Default Re: The Rich Get Richer

There are several factors in regards to this, there are some people out there that just lack the basic skill sets, and most of the rich are business owners so they look super rich on paper but they're still out there working.
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Old 05-04-2011, 03:15 AM
Ronnie2 Ronnie2 is offline
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Default Re: The Rich Get Richer

Nice one..
Thanks for sharing experience.
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Old 05-04-2011, 09:35 AM
littleroc littleroc is offline
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Default Re: The Rich Get Richer

Also, even if you distributed the wealth back to everyone starts with the same amount of money again, the odds are best that the rich would get rich again because they know how to succeed, yes some would fail, but they always continue to be entrepenual.
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Old 05-04-2011, 04:00 PM
MegaMagma39 MegaMagma39 is offline
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Default Re: The Rich Get Richer

While that is true, I have to say that there are more opportunities available to those who already have money. As they say, it takes money to make money, and regardless of your skill set or how smart you are, you're not going to succeed unless you have the money to invest in something.
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Old 06-14-2011, 01:58 AM
Mcgrath Mcgrath is offline
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Default Re: The Rich Get Richer

Hard work is a key to success but luck also matters..!!
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Old 06-14-2011, 10:24 AM
littleroc littleroc is offline
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Default Re: The Rich Get Richer

IMO, excuses are what keep people poor. Go out and kill something and bring it home!
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Old 06-14-2011, 01:18 PM
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ankur12334 ankur12334 is offline
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Default Re: The Rich Get Richer

Well answer to this lies in the functioning of the money flow in the system.Consider for example in a hypothetical economy consisting of 10 members,2 are rich and rest are poor.Now the ratio of rich to poor is 1:4.In the same manner ratio of assets holding by them will be in inverse that is 4:1.Now for the economy having size of 1 Million dollar ,rich will hold 80 million and poor will hold 20 million.Now comes the role of market,as the size of assets is larger for the rich ,consequently,the price in the market will also favor them .Thus rich will pay more but since they hold indirectly different functions of the economy,they will also earn more from the same (trading).Thus in a way, the poor person will loose more than the rich increasing further gap between rich and poor.
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Old 06-14-2011, 01:42 PM
littleroc02us littleroc02us is offline
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Default Re: The Rich Get Richer

Quote:
Originally Posted by ankur12334 View Post
Well answer to this lies in the functioning of the money flow in the system.Consider for example in a hypothetical economy consisting of 10 members,2 are rich and rest are poor.Now the ratio of rich to poor is 1:4.In the same manner ratio of assets holding by them will be in inverse that is 4:1.Now for the economy having size of 1 Million dollar ,rich will hold 80 million and poor will hold 20 million.Now comes the role of market,as the size of assets is larger for the rich ,consequently,the price in the market will also favor them .Thus rich will pay more but since they hold indirectly different functions of the economy,they will also earn more from the same (trading).Thus in a way, the poor person will loose more than the rich increasing further gap between rich and poor.
You keep thinking that, meanwhile I'll be out here building wealth starting from nothing and working my butt of and making smart decisions.
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Old 06-14-2011, 02:33 PM
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ankur12334 ankur12334 is offline
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Talking Re: The Rich Get Richer

Quote:
You keep thinking that, meanwhile I'll be out here building wealth starting from nothing and working my butt of and making smart decisions.
Yeah of course!!. . why not, considering the money you will make from the mortgages you hold and sh**ty stock options . . . .considering the probability of US diving into double dip recession and also considering the higher unemployment rate prevailing. .you will become millionaire in couple of days i guess. . .
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Old 06-14-2011, 03:00 PM
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DavidBibby DavidBibby is offline
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Default Re: The Rich Get Richer

Hey everyone,

Let's keep thing civil around here.

The saying "The rich get richer and the poor get poorer" is one of those truisms that people don't necessarily understand.

When someone says that... it's as if they've RESIGNED themselves to be poor. It's a mindset and a big excuse not to work hard and make wise decisions.

The fact is.. the rich DO get richer... and the poor DO get poorer... but it's not because the rich are taking from the poor. It's because the poor are making themselves poorer.

Rich people know how to ATTRACT money into their lives. By having the right mindset, by avoiding debt, by owning instead of renting, by starting a business, and by giving generously (philanthropy).

The poor REPEL money away from them because they buy what the can't afford (using credit), they rent instead of own, they throw money away on lottery tickets, they buy STUFF and treat it badly, they do not open channels for money to come into their life, and their mindset is one of huge LACK.

When someone is consistently griping and complaining about the LACK in their life... all they're going to get is more LACK!

Conversely... when someone seeks help, and they study, learn, and apply the principles for attracting money into their lives, even a poor person can become rich.

Hope this helps.
David
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Old 06-14-2011, 04:30 PM
littleroc littleroc is offline
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Default Re: The Rich Get Richer

Quote:
Originally Posted by ankur12334 View Post
Yeah of course!!. . why not, considering the money you will make from the mortgages you hold and sh**ty stock options . . . .considering the probability of US diving into double dip recession and also considering the higher unemployment rate prevailing. .you will become millionaire in couple of days i guess. . .
The sky is falling mentality is one I choose not to participate in.
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  #14  
Old 07-25-2011, 11:20 AM
Savings Savings is offline
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Default Re: The Rich Get Richer

Hard working people will never say that.
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Old 08-10-2011, 07:45 AM
Choo Yang Choo Yang is offline
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Default Re: The Rich Get Richer

I believe that the rich do get richer. However, the poor can also get rich. It is all about the improving yourself in this aspect of life - the financial aspect.

Some of the reasons to why the rich gets richer:
1)They have parents who know how to earn and multiple their net worth and tend to emulate the habits that their parents have
2)They are friends with people who are rich and the ideas that bounces off one another helps them be more aware about finance
3)As Maslow's hierarchy of needs states: A person has to satisfy the current level of needs before going on to pursue the next - if someone does not even have enough money for basic necessities like food, they would not even think about multiplying their money. Survival would be first on their list
4)The rich friends and relatives are there to support them in their business ventures, times of need etc.
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