7 Problems of the Rich...

[Dien Rice]

Originally Posted by Don Alm

And.....I went to a very "Upper-Class" University (Northwestern) where I got to know about "the RICH".

I learned about how the HEIRS of fortunes cared ONLY about themselves (for the most part) but......I also learned how their fathers & grandfathers made their money......mostly by GETTING AN IDEA and....STICKING THEIR NECKS OUT.....GOING FOR THE "GUSTO".....against ALL Odds.....then, using their PASSION for their project to carry them forward.

Hey.....again, I LIVED WITH and got to KNOW....some of the great CREATORS of wealth in our society thru their offspring....who Mostly were "Takers"!.....and very selfish, lackadaisical.....NOT motivated to do much of anything in their lives except HOW to enjoy the fruits of their ancestors.

Hi Don,

I agree with you that looking to live off of unemployment benefits is not a good way to live your life...

I can say I've never taken unemployment benefits in my life. Not that I haven't sometimes been "hard up"... But I figured it would be better for myself to figure out how to get out of my situation using my own wits, if I could...

There are risks - it's easier to do when you're younger and don't have people depending on you... But, I think it sharpens your mind and "forces" you to learn how to "survive"...!

The skills you learn will be ones that will serve you well for the rest of your life!

I do currently know and have known some "rich" people. The richest guy I know I estimate is worth tens of millions... and he's one of the nicest people I know. However, he was "self-made" - and was born to a poor family. He didn't inherit his wealth.

As you point out, many of those who inherit their wealth are quite different - they can be "takers"! Their parents probably didn't want their kids to be like this - but there's no "manual" I know of on how to bring wealthy kids up so they don't end up this way.

There's a saying... The first wealthy generation makes the money, the 2nd generation maintains it, and the 3rd generation spends it all...

This problem of how they should raise their kids (so they're not just "takers") is an opportunity (if you can solve the problem for them)!

Anyhow, what you've done (on this forum and elsewhere) is great, how you've shown people how to "pull themselves up by their bootstraps" and create wealth, I think is amazing!

I'm always grateful for the peek inside what you're doing... I've learned a lot of valuable stuff from your posts over the years...

I always recommend people listen to Don Alm - because he's not afraid to "tell it like it is" when it comes to setting up and successful business, and that "tell it like it is" advice is very good for your bank account...!

We need more people like this, teaching others "how to fish" (and not just "handing out" the "fish")... And what a great change that would make to individuals, and to society as well...!

Best wishes,

Dien