get rich posts

[tristan22]

I've honestly given a lot of thought to all of the topics in regards to getting rich. Most of you state that:

1. It is very unlikely to get rich working in "secure” corporate America.

2. College degrees are basically useless.

However, after reading about very wealthy successful people I’ve arrived at this conclusion.

1. They had monetary resources available to make their idea a reality. It's obvious you need money to make money.

2. High IQ's run rampant in the world of successful people.

3. it’s all about timing and having the ability to create a revolutionary business.

I'm just an average guy with big thoughts (avg. IQ and a useless telecommunications degree). I don't have any money and my parents and every one around me put me down and tell me I’m living in dream world for wanting wealth. Basically they tell me I’m not smart enough and that I don't have the genetics to be anything other then "middle class."

My question is: has anyone on here actually gotten wealthy on their own w/o monetary resources available? Nowadays, it seems just as hard getting a job in corporate America that pays anything as it is to start your own business.

Opinions are welcome!

 

[Jvesti]

A lot of successful business people don't have a higher IQ than just about anyone around. In fact, no one really ever said that a ridiculousely high IQ is needed to be successful in business. A significant amount of mensa members are unemployed if that tells you anything. Most successful people have an intense desire to succeed no matter what.

Hell, there's a guy named Wesley Willis that is basically a slow adult yet became a musician with a cult following and even hosted a show on mtv.

**** those *******s who say you are no good. Everytime someone says anything like that to me It just fuels my fire even more and makes me more hungry. It should for you too.

Most self-made people don't get wealthy from their own money although they certainly might invest a good amount of it. This is why in success in business it is crucial to develope ties and "network" with the right people. This is completely under your control. There's no such thing as a man who became successful on his own. If there is its very rare.

I suggest you get your hands on "Think and Grow Rich" by Napoleon Hill. I think it'll open your eyes.

 

[Vincent]

Originally posted by tristan22
However, after reading about very wealthy successful people I’ve arrived at this conclusion.

1. They had monetary resources available to make their idea a reality. It's obvious you need money to make money.

Ya but its usually not your money/inheritance. If you want to make money, you have to have a good idea, then you must get big businesses to think you have a good idea, then they give you money. You can start from nothing and work your way up to a multimillion dollar corp. Don't think you have to have money to become rich.

Originally posted by tristan22
2. High IQ's run rampant in the world of successful people.

HAHAHAHAHAHAHAHAHA. Where did you figure that out? Thats not true at all. The most successful business people are the ones with the most drive, desire, and cutthrout.

Originally posted by tristan22
3. it’s all about timing and having the ability to create a revolutionary business.

I agree with the revolutionary business idea, but you timing is just an excuse.

If you want to be wealthy, and you have a good idea. You do everything in your power to get it. No ones just gonna make you wealthy, you have to sacrifice to get it.

 

[Snatchmaster]

Originally posted by tristan22
1. It is very unlikely to get rich working in "secure” corporate America.

If you work in the Corp. office of a Fortune 100 company, you can make very good money. If you are competent, personable and demostrate an ability to handle responsibility, you can make $70k-$100k per year.

2. College degrees are basically useless.

That's what I used to think. Then I learned that the jobs that pay well require a BA. Remember, just because someone has a college degree doesn't make them smarter than you, but if I'm going to pay good money for an employee, I'll hire the college grad because it shows he has the stamina and determination to get a college degree. The guy without it IMHO shows he has no intellectual curiosity, is too f**king stupid to pass the required courses, is just damn lazy, is looking for the easy way out, or is satisfied with sh*tbird jobs.

3. it’s all about timing and having the ability to create a revolutionary business.

The key to success in running a business is having a good idea and implementing a good strategy.
I have known avg IQ guys with successful businesses. What they have in common is the dedication to work hard and partners who helped with the funding.


Just out curiosity, what is a telecommunications degree?

my parents and every one around me put me down and tell me I’m living in dream world for wanting wealth. Basically they tell me I’m not smart enough and that I don't have the genetics to be anything other then "middle class."

Avoid the poison. Don't discuss your dreams or plans with people that try to stuff crap down your horn. When you must deal with such people, feed them what they want to hear and cut it short.

Sometimes even parents need to be cut off. Learn to type, get a job in an office as a temp (pay $8-$12/hr), save your $$, move out, and implement a plan of action.

 

[tristan22]

Although $70-100,000 is really good money, i'm hoping my ideas and drive for success bring me a lot more money.

I do have several good ideas, however i'm currently working a dead end job to save money and then explore my entrepreneurial aspirations.

I have a BS in telecommunications (bachelor of science) and a license to practice real estate, however i've had a hard time finding a good job that pays anything (the economy is really bad here in central ohio).

....My degree of study was mass media, journalism, and video production. I figured upon graduation i would land a sales job in television or radio. However, pickings have been slim and i've decided to go into real estate and become self employed. My reasoning is "Why kill myself for a company, when i can use this energy for personal endeavors and success."


Thanks for all the insight! It's good to hear other people's views and opinions.

 

[Vincent]

I'd recomend going back to school and getting a degree in business or something.

 

[diplomatic_lie]

Why don't you ask someone who is wealthy, and made it without a high IQ or lots of money? Thats the best way to find out.

If you can't find any local millionaires, try reading up autobiographies of billionaires. Some rags-to-riches ones are Justin Herald (started with $25), Li Ka Shing (started as immigrant labourer), Richard Branson (failure at school). Just remember that Bill Gates started off in his mom's garage.

Ideas are cheap. Its the ability to execute an idea that is valuable.

 

[Vincent]

Originally posted by diplomatic_lie
Just remember that Bill Gates started off in his mom's garage.

Without a college education

 

[Snatchmaster]

Originally posted by Vincent
Without a college education

Yeah, there are people out there without a college ed who have become rich. They are the luck of the draw to keep the Horatio Algiers rags-to-riches stories alive. So, no it's not impossible to get rich w/o the sheepskin, but what are the odds?

I've yet to meet anyone who has been less successful as a result of getting a degree, but I've certainly known folks who were at a disadvantage because they didn't get the degree.

As far as getting into a business, a key factor in success is the competition and the ease of entry into the field. This is why lawyers and accountants earn more than Baristas at Starbucks.

I don't know what the housing market is like where you live, but I do know that a lot of women are in the field. And fields dominated by women have low pay.

You can do well in r.e., but ask yourself: how can I differentiate myself from the crowd (low-cost, high cust. service, creative mktg), and how can I create a sustaintable competitive advantage.

If you are the best in the field, others will copy you. So you must be constantly improving to stay ahead of the pack. Not there yet? Find out who is the most successful agent in town, or the next town over. Find out what they are doing and copy. Call them up and ask for advice as a new agent just starting out.

Since you already have a BS, you might consider grad school. You might also consider moving to a different community. Look up the migration patterns in the US. Where are people moving to? Moving to a city to where many people are moving can provide many opportunities in business. All the flux and motion makes it easier to establish yourself.

 

[Jvesti]

snatchmaster i think ya need to open your eyes more. A majority of the self made billionaires on the forbes400 were college drop outs or graduated with liberal arts. www.forbes.com see for yourself.

If you are an entrepreneur a degree means little. You simply don't need a piece of paper showing that you sat through 4 years of classes because you aren't an employee. In fact most of the self made people dropped out of college because they were too hungry and couldn't deal with sittin through that stuff. 70k - 100k is nice but it truly means little to me. I think tristan feels the same way.

Look around you from your computer, refridgerator, desk, the bolts in it, internet connection, aim, sosuave, phone, plastic to make the phone, motherboard of the phone surrounding you. Drive around, the street that you drive on, the street signs, construction company, telephone poles, wires, business upon business filling the streets, the land developer of these building, those who make the materials millions upon millions of ideas created by someone with the fortitude to bring it into reality.

It's not just a handful of people to "keep the horatio algers story alive". You talk about people becoming rich like it's about odds and luck. Like your rolling dice on a craps table. Based on my experience and the people i've met or read about i think that is WAY off. What experience with people do you have to be able to be an expert on this?

It isn't a strike of luck but most havenots will be glad to call it that to feel better about themselves. And most college professors who don't have the balls, and don't want their socialist ideals ruined by the idea that someone can be successful on their own through thinking and growing rich. So they'll be sure to use their no business experienced selves to ram that down your throat. But people who do everything humanly possible to succeed, risking everything they have, their time, finances, failing many times over but keep learning from it. Then might be 100k in debt before they become successful. That's luck?

Oh yes and if you are one to not have money but have all the other components. Networking with the right people to invest or putting yourself out there for venture capital is completely under your control.

 

[Centaurion]

first of all. you dont NEED a good idea. Every single one of these internet-geek-wannabe-guru's preach about this. But its wrong.

I started off with $45 in my pocket and ended upwith a company that makes close to a million US$. My idea, you ask? Selling tshirts off a stand. Now tell me, is there something brilliant about that? Something new, something daring? NO!!!

 

[Zangatti]

Tristan, do you play EVE? curious, and figured it wouldnt matter if I asked since this is an off-topic forum..

 

[Snatchmaster]

Originally posted by Jvesti

It's not just a handful of people to "keep the horatio algers story alive". You talk about people becoming rich like it's about odds and luck. Like your rolling dice on a craps table. Based on my experience and the people i've met or read about i think that is WAY off. What experience with people do you have to be able to be an expert on this?

It isn't a strike of luck but most havenots will be glad to call it that to feel better about themselves. And most college professors who don't have the balls, and don't want their socialist ideals ruined by the idea that someone can be successful on their own through thinking and growing rich. So they'll be sure to use their no business experienced selves to ram that down your throat. But people who do everything humanly possible to succeed, risking everything they have, their time, finances, failing many times over but keep learning from it. Then might be 100k in debt before they become successful. That's luck?

Let's define luck:

Good luck is having an opportunity and being prepared for it.

Bad luck is having an opportunity and not being prepared for it.

No luck at all is never having the opportunity.

Of course there are very rich people w/o a college degree. The reason I encourage everyone to get the degree is so they can get the skills they need to be successful.

Now some have great skill w/o education. Perhaps they can pass go directly. But they are few and far. The other 99% of us need to improve our game, and even that 1% doesn't know everything.

Now you may be tempted to point at henry ford who knew enough to surround himself with those who knew. But, my friend, that was a different time.

We live in a information age. Whether you are entrepreneurial or not, education helps.

What? You can learn to do marketing/finance/operations management on your own?

Fine. Do so. But you do a disservice to those on this site who are coming of age and think they can get ahead without going to college. You can go to college or the school of hard knocks.

Now, I don't know where you went to school with all those commies and socialists you rag upon, but in business school you don't find too many of those idiots until you have to walk over to the English dept.

In fact, most of my biz school profs had done real world work and many continued to consult on the side.

I am curious, what's your educational background?

 

[Jvesti]

Let's define luck:

Good luck is having an opportunity and being prepared for it.

Bad luck is having an opportunity and not being prepared for it.

No luck at all is never having the opportunity.

Luck by definition is - The chance happening of fortunate or adverse events. It has nothing to do with being "prepared" or not. Frankly, being prepared and knowing when the right time is something that takes the use of your mind and an open eye. Has nothing to do with chance. Let's not argue semantics though.
Of course there are very rich people w/o a college degree.

Over 60% of self made millionaires do not have a college degree.

I have had the liberty of talking to success entrepreneurs about the issue of college vs. no college. The most solid take on it is this:

"If you do not have an idea and a plan of how you are going to make it a success stay in college. Once you do and its solid college is a waste of your time by simple logic. "

That was said to me by a multi-millionaire owner of an advertisement firm.

Now some have great skill w/o education. Perhaps they can pass go directly. But they are few and far. The other 99% of us need to improve our game, and even that 1% doesn't know everything.

Let's take the example of success with women. Do we learn how to become successful with women more effectively by sitting in a classroom taking down notes like a lot of people do on this website that never get anywhere with women. OR does the success come from actually DOING and learning from the mistakes as you get better and better until you reach success?

Now you may be tempted to point at henry ford who knew enough to surround himself with those who knew. But, my friend, that was a different time.

We live in a information age. Whether you are entrepreneurial or not, education helps.

What? You can learn to do marketing/finance/operations management on your own?

Fine. Do so. But you do a disservice to those on this site who are coming of age and think they can get ahead without going to college. You can go to college or the school of hard knocks.

My stance on college is up above. As for the hard knocks comment i'd say that's very relative to who you network yourself with and who mentors you. The better mentors and people you network yourself with the less "school of hardknocks" you have to deal with. Which again, is COMPLETELY under your control. I'd frankly, wouldn't want to hear a peep out of a person about this not being the case until they grew the balls to personally write and try to contact the countless successful individuals and offer anything to be under their wing.

Now, I don't know where you went to school with all those commies and socialists you rag upon, but in business school you don't find too many of those idiots until you have to walk over to the English dept.

In fact, most of my biz school profs had done real world work and many continued to consult on the side.

I am curious, what's your educational background?

I got an anti-self made man vibe off that horatio algers comment. Which i have experienced when i did some college back in the day. My educational background is some college but mostly learning through doing which has brought me to be mentored by the man who owns the largest internet cafe in a particular country and that i am doing a side project with will be massive business down the road. In addition I have seeked the advice and mentorship of other successful individuals.

I will leave people with one bit of advice.

"You want to be as successful as a guidance councilor, your parents, a hobo, listen to their advice and you'll get as far as them, they obviousely know how to get there. But if you want to be a millionaire, entrepreneur, billionaire, the best advice on how to get there would be the millionaire, entrepreneur, or billionaire. Not your parents or guidance councilor because you'd assume them crazy if they didn't want to be rich, the fact is they will most likely give the wrong advice" I think you can agree with that.

 

[hb]

I read Rich Dad Poor Dad- A BEST SELLER, it touches up on education and if it is really needed. A billionaire himself talks about how his educated dad was poor while his uneducated "dad
was Rich. He says education is not important.
Anyways-- I would get a college degree as backup incase my business(es) fail, i have something to fall back on.

Another thing is, one of my teachers told me this. You guys probably have heard about Greenspan, he controls the economy or whatever. There are two guys competing for his job when his run is finally over. One is a Harvard graduate, the other drop out of highschool at 16 and started working as a mail person for American International Group and gradually worked his way up.
Some interesting sh!t to think about.

 

[Snatchmaster]

Originally posted by Jvesti


I have had the liberty of talking to success entrepreneurs about the issue of college vs. no college. The most solid take on it is this:

"If you do not have an idea and a plan of how you are going to make it a success stay in college. Once you do and its solid college is a waste of your time by simple logic. "

Very good take. Bill Gates dropped out of Harvard after two years. The reason I stress the degree, is that many have the dream, few have the plan, and fewer have the wherewithal to see it through.

While the degree may not be necessary if you have the natural skills and determination, going to college is a very sound stepping stone to building wealth.

I know many lawyers who are millionaires. I know a number of Doctors whose net worth is up there as well. I know of accountants who've made their million and switched over to owning a real estate empire. I know of stock brokers who retired at 40. For that matter, I've met engineers who have made millions as well.

They went to school and learned a skill, a trade if you will, before going out and putting it into practice. There seems to be an anti-education, anti-learning bent on this board. And since there seem to be so many here who are approaching the juncture of going to college or going into the workforce, it is a disservice to tell them they don't need to complete their education.


It's a matter of risk management as well. If you have been successful without the degree, then good on ya. But again, most people will be better set for higher lifetime earnings if they get the college degree.

Donald Trump was born into wealth. He knew enough to get an MBA from the Wharton School of Business.

Advanced education is a well paved road to success.

_____________________________

Question Authority. Think for yourself.

 

[MetalFortress]

Bump. This is an interesting topic.

I believe everyone has the capability to get rich, but some piss it away. They fry their brains with drugs. They allow negativity to kill their ambitions. They have bad financial knowledge so deeply ingrained that they can't learn good financial knowledge.

I am still in the self educating stage of the game, and already have a small group of friends who are as eager to become millionaire investors, business owners and real estate investors as I am. I read Rich Dad Poor Dad, and Rich Dad's Guide To Investing. Even though my learning is far from complete, even at this stage of the game I am lost as to why more people don't desire to do this. But then again, I'm lost as to why people drive Ford Explorers too, but oh well (I'm a fan of ebony-leather-and-wood-interior-trim GMC Envoys).

I am choosing not to go for a degree. I go to a massive junior college to study what interests me and what skills I am weak in that would be good for what I'm going to do. A degree means nothing to me. It's a means to an end, not an end in and of itself.

As for employees though, a degree is something I would look for on the college application, depending on the applicant. More important, though, is knowledge and experience at the job.

 

[diplomatic_lie]

There's nothing wrong with a desire to become wealthy. If you reach for the stars, even if you fail, you'll still get to the sky.

 

[Alpine]

Your 3 main assumptions are wrong and worryingly look like setting up excuses.

All you need is desire, everything else follows.

You don't have to be very bright other than learn how to be savvy.

If you want something bad enough, you will save some money, do allsorts to get it to invest in your passion.

I always think of the 'Refugee Syndrome' thrown at losers in free countries.

These people come over here in a boat, they have nothing but the clothes on their back. 10 yrs later they are millionaires. I've heard this so many times now it's annoying, but never the less it's true. So no excuses.

For fvcks sake though, do something you enjoy, not what you think will pay the most money.

 

[WastelandWarrior]

The easiest money I ever made was when I got my first (and only current) property. The moment I signed my name I'd made $6000. My parents purchased a 1 acre lot that more than tripled in value in 8 years.

When I drove my brand new car off the lot 6 years ago (when I was young and dumb) I lost $1500.

Property good, retail stuff bad.

Nobody needs more than one go-into-debt-fast card, or as they're more commonly known as, "credit cards."


If you rent, you're throwing your money away. Seriously, you'd probably get more enjoyment and satisfaction burning it one bill at a time. All you doing is making your landlord rich.