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(Abc.net.au)   Billionaire: "If you're jealous of those with more money, don't just sit there and complain; do something to make more money yourself - spend less time drinking, or smoking and socialising, and more time working"   (abc.net.au) divider line 440
    More: Obvious, smoking  
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9336 clicks; posted to Main » on 30 Aug 2012 at 11:04 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-08-30 07:54:15 AM
...after parlaying a multi-million dollar inheritance...

Yeah... Shut up.
 
2012-08-30 07:58:53 AM
The nicest millionaires I know don't talk much at all. You wouldn't know they are loaded, either. They don't roll the poor.
 
2012-08-30 07:58:56 AM

TsarTom: ...after parlaying a multi-million dollar inheritance...

Yeah... Shut up.


Just because you wasted your multimillion dollar inheritance doesn't make it her fault.
 
2012-08-30 08:02:39 AM
I want to use my multi-million dollar inheritance to become a corporate raider. You know shutting down lazy, socializing and drinking American factories and opening up new ones in hardworking China!
 
2012-08-30 08:07:29 AM
i.imgur.com

Finally, the answer to Babwa Wawa's eternal question: "What I wouldn't do for a billion dollars."
 
2012-08-30 08:21:37 AM
At some point this quote from Boswell's Life of Johnson will be pertinent to something said in this thread

"You meet a man begging; you charge him with idleness; he says, 'I am willing to labour. Will you give me work?' -- 'I cannot.' -- 'Why, then you have no right to charge me with idleness.' "
 
2012-08-30 08:35:20 AM
Mrs Rinehart, who has seen her fortunes rise after parlaying a multi-million dollar inheritance

Good-bye.
 
2012-08-30 08:35:39 AM
Just 'working more' will not make you a millionaire. If that was the case, grad students would all be incredibly rich when they got done.
 
2012-08-30 08:42:45 AM
Billionaires most likely work less then scientists, engineers, teachers, people who contribute stuff.
 
2012-08-30 08:47:42 AM

TsarTom: ...after parlaying a multi-million dollar inheritance...

Yeah... Shut up.


Doesn't mean the advice is bad.

It's kind of like a natural born Olympic level athlete telling the rest of us to exercise more. Sure, we'll never swim like Michael Phelps or run like Usain Bolt, but that doesn't mean that regular exercise won't make us more healthy.

It's true that as a group, the poor are much more likely to smoke, for example. In my state, you're looking at a minimum of $7 a pack. If you smoke a pack a day, that's $49 a week, or $208 a month. That's a car payment right there, going up in smoke. Over a year, that's nearly $2,500.

Also, the poor and uneducated tend to buy more lottery tickets:

bp0.blogger.com

This is a fools game, as it has been rightly pointed out that the lottery in all its forms is a "tax on people who are bad at math". On average, you'll never win back enough to make up for what you spend, not by a long shot. But the poor buy the damn things in droves. Whenever I see someone buying lottery tickets at a convenience store, it's not the person who just drove up in a BMW. It's the person who drove up in rusted out 1995 Ford Escort, or more likely, walked. 

Those are just a couple examples of some of the bad financial decisions that tend to keep the long-term poor in economic distress. They don't really necessarily know any better, though: People tend to stay in their socio-economic class. The rich who lose all their money don't generally fall into long-term poverty due to misfortune or the occasional misstep, though they can fall into short term poverty. They end up clawing their way back out of it. The flip side of that is that the long-term poor, when given a windfall like the occasional lottery winner, almost invariably find themselves back in poverty after a while because of poor financial decision making. 

The problem isn't that the poor want to be poor. They don't, obviously. It's that they don't generally have the financial skills to help them claw their way out of poverty.
 
2012-08-30 08:52:03 AM
She sounds like a pleasant person.

TsarTom: ...after parlaying a multi-million dollar inheritance...

Yeah... Shut up.


...and THIS^
 
2012-08-30 08:55:23 AM

dittybopper: The rich who lose all their money don't generally fall into long-term poverty due to misfortune or the occasional misstep, though they can fall into short term poverty. They end up clawing their way back out of it


There's no reason to believe your average billionaire who was born into it has any more financial sense than anyone else. They're just too big to fail. Of course you have your Zuckerbergs, Bill Gates, etc who built what they have but they're not the norm.

/happy being a multi-thousandaire
//never intentionally screwed over anyone for it
 
2012-08-30 09:01:15 AM
"And you are, Gina?" "Gina."
 
2012-08-30 09:01:52 AM
Really? It's that easy?! Well then, I'll get right to it!
 
2012-08-30 09:16:54 AM

Mugato: dittybopper: The rich who lose all their money don't generally fall into long-term poverty due to misfortune or the occasional misstep, though they can fall into short term poverty. They end up clawing their way back out of it

There's no reason to believe your average billionaire who was born into it has any more financial sense than anyone else.


If you are born into wealth, it's very likely that you learned your money handling skills from your parents. Those skills might not be the kind necessary to *MAKE* a fortune, but they would at least be the kind that allow you to *RETAIN* one.

The same goes for the long-term poor, in that they generally learn their financial skills from their parents.

For good or ill, we generally learn most of our money handling skills from our parents, and to a lesser extent, our peers.

That's not to say you are predestined by accident of birth: My brother-in-law was born of modest means, but by dint of hard work *AND* sacrificing immediate gratification and unnecessary frills, he's actually doing quite well for himself and his family, certainly better than I and his sister (the distaffbopper).
 
2012-08-30 09:18:53 AM
Thanks for the advice, JOB CREATOR!
 
2012-08-30 10:08:28 AM

dittybopper: Mugato: dittybopper: The rich who lose all their money don't generally fall into long-term poverty due to misfortune or the occasional misstep, though they can fall into short term poverty. They end up clawing their way back out of it

There's no reason to believe your average billionaire who was born into it has any more financial sense than anyone else.

If you are born into wealth, it's very likely that you learned your money handling skills from your parents. Those skills might not be the kind necessary to *MAKE* a fortune, but they would at least be the kind that allow you to *RETAIN* one.

The same goes for the long-term poor, in that they generally learn their financial skills from their parents.

For good or ill, we generally learn most of our money handling skills from our parents, and to a lesser extent, our peers.

That's not to say you are predestined by accident of birth: My brother-in-law was born of modest means, but by dint of hard work *AND* sacrificing immediate gratification and unnecessary frills, he's actually doing quite well for himself and his family, certainly better than I and his sister (the distaffbopper).


Sure. But it's a little galling for someone who inherited millions of dollars to sit and lecture people about hard work.
 
2012-08-30 10:15:48 AM

qorkfiend:
Sure. But it's a little galling for someone who inherited millions of dollars to sit and lecture people about hard work.


I don't mind if they do it from the privacy of their own prison cell.
 
2012-08-30 10:19:30 AM
Mining?  I would have guessed she was a cheesecake mogul.  Unless she owns the Big Rock Candy Mountain, then it would make perfect sense.
 
vpb [TotalFark]
2012-08-30 10:31:44 AM
That's comical. No one gets rich from hard work. You can inherit it, you can steal it, you can exploit flaws in the financial system, you can get lucky in the stock market (assuming you have a lot of money to invest in the first place), win the lottery etc. Working won't do it for you, working makes other people rich.

Besides, it is interesting to me that the wealthy people who think this way are almost always people who inherited their money. People like Warren Buffett seem to have more of a grasp of reality, since they actually had to do something to make their money.
 
vpb [TotalFark]
2012-08-30 10:34:24 AM

GAT_00: Just 'working more' will not make you a millionaire. If that was the case, grad students would all be incredibly rich when they got done.


Generally the people who work hardest are the poorest. You get rich by acquiring the right to the product of other people's wealth.
 
2012-08-30 10:37:22 AM
"Are you employed sir?"

deathandtaxesmag.wpengine.netdna-cdn.com
 
2012-08-30 10:38:21 AM
img191.imageshack.us

"You.. can be a millionaire billionaire.. and never pay taxes! You can be a millionaire billionaire.. and never pay taxes!

You say.. "Steve.. how can I be a millionaire billionaire.. and never pay taxes?" First.. get a million dollars.

Now.. you say, "Steve.. what do I say to the tax man when he comes to my door and says, 'You.. have never paid taxes'?"

Two simple words. Two simple words in the English language: "I forgot!"
 
2012-08-30 10:38:32 AM

vudukungfu: The nicest millionaires I know don't talk much at all. You wouldn't know they are loaded, either. They don't roll the poor.


Basically this. If you see people flaunting it, you can rest assured that they are Grade A douchebags.

And if you need to be reminded what "flaunting it" looks like, please direct your attention to Rich Kids of Instagram. (pops)
 
2012-08-30 10:41:50 AM
When a millionaire/billionaire suggests that you need to be willing to 'work hard' in order to attain their level of wealth, what they really mean to say is 'have business ambition that is unwavering and single-minded, and sometimes ruthless.' Because that's what it seems to take for a person not born in wealth to gain a higher class in American society. Otherwise, any landscaper, nurse, janitor worker, strawberry picker would be a millionaire from all their hard work.
 
2012-08-30 11:06:48 AM
As usually step 1 of the plan is to be born into a rich-as-fark family. Bootstraps work better when they're made of woven gold and platinum.
 
2012-08-30 11:06:54 AM
advice you just can't buy
 
vpb [TotalFark]
2012-08-30 11:06:57 AM

dittybopper: TsarTom: ...after parlaying a multi-million dollar inheritance...

The problem isn't that the poor want to be poor. They don't, obviously. It's that they don't generally have the financ ...


It's nothing to do with the long term poor, she is talking about the middle class. The people who do the actual work that makes people like her rich.

She might actually do some work, but that's not where here money comes from, she simply inherited a company which gives her the right to take whatever the employees of the company produce and give them as little as she can get away with.

I have never understood why someone would be able to inherit an organization anyway, like it was a piece of furniture or something. It's almost like the feudal system where nobles inherit a manor and get to take a big share of what the serfs produce, simply because of birth.
 
2012-08-30 11:07:30 AM
Mrs Rinehart, who has seen her fortunes rise after parlaying a multi-million dollar inheritance into a mining empire now worth more than $20 billion, blames anti-business and socialist policies for hurting the poor.

What is this? I don't even...
 
2012-08-30 11:07:35 AM
How many of you are at work right now?
That helps explain it.
 
2012-08-30 11:07:44 AM
Also I'd like to congratulate Fark on hiring the mentally handicapped to set the post tags for the past few days.
 
2012-08-30 11:07:49 AM
The poor people I know have 2 or 3 jobs.

Pick any laborer off of the street and they know more about hard work than this woman.
 
2012-08-30 11:08:58 AM

TsarTom: ...after parlaying a multi-million dollar inheritance...

Yeah... Shut up.


I knew it was going to be something like that without even reading the article.
 
2012-08-30 11:10:05 AM
imgc.allpostersimages.com

If I was rich I'd go so drunk I would want to fark Liza Minelli.
 
2012-08-30 11:11:44 AM

TsarTom: ...after parlaying a multi-million dollar inheritance...

Yeah... Shut up.


Do you know how many rich people's kids don't do jack shiat? Just sit around farking off and spending their parent's cheddar?

Of course, this lady started with significant advantages in life, but she didn't just squander them. So she gets a little credit for that.
 
2012-08-30 11:12:18 AM

Cythraul: When a millionaire/billionaire suggests that you need to be willing to 'work hard' in order to attain their level of wealth, what they really mean to say is 'have business ambition that is unwavering and single-minded, and sometimes ruthless.' Because that's what it seems to take for a person not born in wealth to gain a higher class in American society. Otherwise, any landscaper, nurse, janitor worker, strawberry picker would be a millionaire from all their hard work.


This, absolutely this. Most wealthy people I know started with nothing, but clawed their way up with somewhat ruthless ambition, and now are very wealthy indeed. Have another buddy who started 15 years ago as help desk support and worked his way up to being considered for VP for some technology related stuff at the Fortune 500 he started at. It's all about who you know, having good judgement on when its time to shift jobs, and be willing to take a few risks here and there.
 
2012-08-30 11:12:54 AM

dittybopper: The problem isn't that the poor want to be poor. They don't, obviously. It's that they don't generally have the financial skills to help them claw their way out of poverty.


All of this is true, but it doesn't excuse the ultra-rich from buying political influence, for the express purpose of making sure they receive more money-making opportunities and pay less taxes, all at the expense of the poor and middle class. Which is really why everyone is pissed off at rich people; not because we're "jealous".
 
2012-08-30 11:13:33 AM
Probably something to that, even though the messenger might be less than ideal.

What the hell. OK FARK, lets brainstorm. I'm willing to blow $500 on a startup. It has to be something that I can do while still working full time. Gimme your ideas.
 
2012-08-30 11:13:41 AM
Like Ann Romney talking about how hard her and Mitt had it in the early days when they could only borrow tens of thousands of dollars from their parents... Life is so hard and they made it all on their own.
 
2012-08-30 11:15:58 AM
The problem here is that CEOs that make over 100x the average salary of their company actually think they are working over 100x as hard as the average worker.
 
2012-08-30 11:16:06 AM

shadownick: Cythraul: When a millionaire/billionaire suggests that you need to be willing to 'work hard' in order to attain their level of wealth, what they really mean to say is 'have business ambition that is unwavering and single-minded, and sometimes ruthless.' Because that's what it seems to take for a person not born in wealth to gain a higher class in American society. Otherwise, any landscaper, nurse, janitor worker, strawberry picker would be a millionaire from all their hard work.

This, absolutely this. Most wealthy people I know started with nothing, but clawed their way up with somewhat ruthless ambition, and now are very wealthy indeed. Have another buddy who started 15 years ago as help desk support and worked his way up to being considered for VP for some technology related stuff at the Fortune 500 he started at. It's all about who you know, having good judgement on when its time to shift jobs, and be willing to take a few risks here and there.


Also keep in mind that people who are not born in wealth but become wealthy are usually slaves to their jobs I've met a few people like this. "Workaholic" would be a kind word to describe their work ethic. After seeing the sacrifices these kinds make in order to get more wealth, I sometimes wonder if it isn't better to try and eek out a living off of a modest middle class life than to try and become a rags-to-riches millionaire.
 
2012-08-30 11:17:08 AM

Headso: Like Ann Romney talking about how hard her and Mitt had it in the early days when they could only borrow tens of thousands of dollars from their parents... Life is so hard and they made it all on their own.


Didn't they also have his millions of dollars in stock options to make ends meet? My heart just farking bleeds!
 
2012-08-30 11:17:49 AM

ackb4r: TsarTom: ...after parlaying a multi-million dollar inheritance...

Yeah... Shut up.

Do you know how many rich people's kids don't do jack shiat? Just sit around farking off and spending their parent's cheddar?

Of course, this lady started with significant advantages in life, but she didn't just squander them. So she gets a little credit for that.


Very little.

She's saying the reason why she is rich and we are not is because we don't work hard enough.

My time sheets say otherwise.
 
2012-08-30 11:18:03 AM

fireclown: Probably something to that, even though the messenger might be less than ideal.

What the hell. OK FARK, lets brainstorm. I'm willing to blow $500 on a startup. It has to be something that I can do while still working full time. Gimme your ideas.


Fark != kickstarter
 
2012-08-30 11:19:19 AM

SN1987a goes boom: The problem here is that CEOs that make over 100x the average salary of their company actually think they are working over 100x as hard as the average worker.


The new CEO of Best Buy will make $6.25 million even if he is not legally able to take the job. Yeah, that's value for the shareholders!

Needless to say when I read that I decided that I would never, ever so much as step into a Best Buy again.
 
2012-08-30 11:19:54 AM
 
2012-08-30 11:20:29 AM
Then I guess I'll start robbing rich people. If I work hard at it, I can be rich too.
 
2012-08-30 11:20:58 AM

LockeOak: Fark != kickstarter


I agree. Kickstarter is where I ask for money for my retarded project. What I did was ask for a retarded project on which to spend my money.
 
2012-08-30 11:21:01 AM

Snarcoleptic_Hoosier: Then I guess I'll start robbing rich people. If I work hard at it, I can be rich too.


Tell Bernie I said 'Hey.' ;)
 
2012-08-30 11:21:09 AM
'Obvious' tag, subby?

'Hero' tag is more appropriate.
 
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