Why are people so against taxes?

[Lemon]

Honestly multibillionaire, it sounds from ur name and what ur saying that you just came out of a get rich seminar. Maybe even a pyramid scheme.

[Multi-Billionaire]

At the end of the day, it's our choice to be who we are... it's up to you.

 

Am I saying I will be a multi-billionaire 100% sure? No. But as long as the dream and goal put me in the journey, it will be very well worth it.

 

But other people will have different journeys in their lives... mine just happens to want to be rich... as long as you're happy... just make sure you pay your taxes without complaining.

 

 

I will also need employees (you guys) when I become an employer jk

[NomarFachix]

lmao sounds like Lemon was right.

[Real Deal]

If you don't believe that then good luck to you in life. You're gonna need it.

I can't watch 3D movies. I only have one eye.

[Flash]

I can't watch 3D movies. I only have one eye.

 

That's something you can't control..

 

/needed to edit that. Obviously its not something you can control.Sorry for the typo

Edited October 20, 2010 by Flash

[Multi-Billionaire]

They already give back more than anyone else does.

 

And judging by the rest of your post you make them sound like heartless bastards who don't care about anyone else. However, it'd be interesting to see the statistics of those people who give to charities and have their own foundations and see how much income they make per year.

 

I love people who think like rich people...

 

Flash, and ECN, welcome to the billionaire club! :) Or if you reach there first, invite me...!!!

 

 

Most people think rich people are generous because they're rich, when it's the other way around. Rich people are rich because they're generous.

 

Those who are rich but frickin stingy (through inheritance, lottery wins) will not last long... look it up how much these rich people give up to charities. D-Trump, Gates, Buffett, NBA players regularly write cheques to help out. Gates (60 billion) and Buffett (55 billion) plan to give as much as 95% (NINETY FIVE PERCENT) of their wealth to charity and keep only 5% to themselves. That's ultimate generosity. I don't care if you say 5% out of 55-60 billion is "still a lot of money", giving up 95% of your wealth is no easy task.

 

Look around your neighborhood, locate rich people and find out if they have been generous... and how much they give out... how often, etc. You'll be surprised that rich people are not as bad as the poor-middle class people often tend to make them to be.

[Real Deal]

The difference between poor/ middle class people and rich people?

 

a. Their money

b. Their words/ vocabularies

 

ding...ding...ding

 

Answer is b.

Let me give you a dose of reality, to show you how absolutely ignorant your words are right now.

 

I graduated high school with a 4.0 GPA, absolutely obliterated the COMPASS test by scoring perfect on both the math and English (writing essay and skills) sections (the test was required for our college), dove into two years of community college and left for UNM after that. While I was in school (HS and college), I was ranked the top trumpet player in the state of Kansas for two years. I had a free ride with a music scholarship, free ride for my grades. Got an art scholarship as well, and won a poetry contest as a senior in high school to win another.

 

My mindset was to stand on a pile of money by getting into computer programming and writing software for a big company, such as Microsoft.

 

Things changed in my life, but my focus never did, at least for years.

 

Came back to Kansas and got a job at a refinery as a systems analyst, and got an offer to become an inspector, making more than enough money and having a chance to be shipped off to a much larger company out on the east coast.

 

Woke up blind in both eyes, dream ruined.

 

Now I'm in major debt, I'm 27 years old and I have one eye. I will never get to inspect at an oil refinery because of the dangerous chemicals involved that could ruin my other eye. Playing a trumpet, even though it would never make me money, is impossible due to the sensitive blood vessels in my eye. Getting loans for ANYTHING? Impossible, and you'd know that once you see my credit report, due to all of my medical bills. Couldn't work for two years because, at one point, there was no way I was going to get the surgeries needed without Medicaid. The surgeries, everything I've gone through, and the way I had to recover and the meds I had to take...I now have high blood pressure, along with my diabetes.

 

So let me turn this into something you should relate to: you are in your 20's. You aren't rich. Everyone wants to be rich, or extremely wealthy, or have enough money to live comfortably. People do anything necessary for money. You claim all it takes is to be focused and to be determined, and to believe? Bull[expletive]. You're dead wrong. Ask a single mother with two kids how much she will do to provide for them, and then ask yourself why she's still struggling.

 

How many billionaires do you know, personally? None? Just one? There are 1,011 in the world that are said to have $1 billion or more in investable assets, out of almost 7 billion people. You really think you'll be one just by what you think you can achieve in life? You're saying that a thousand people just needed the right mindset, and the rest didn't try hard enough? You're full of it, dude.

[fish7718]

If rich people were truly generous, poverty would no exist.

Edited October 20, 2010 by STATCity

[Multi-Billionaire]

^Give you a simple example... try to cook a beef lasagna and in your mindset you're 100% thinking about making a bolognese pasta instead. That lasagna will never be made.

 

It's similar to your mindset when you set a goal... you have to have the end result exactly in your mind before it's made/ produced.

 

 

1.) If you dream to be rich, you can't be "I want to be rich" vague. You have to be exact. What pasta are you trying to make? Bolognese? Carbonara? Amatriciana? Marinara? In your financial goal, you have to determine the exact amount and exact time you plan to achieve it... e.g. "I plan to be $100 mil rich by age 35 years". Your brain targets the goal exactly. Vagueness will lead you nowhere.

 

2.) Another example, when the PS3 was launched, when it was still $600-700, people who couldn't afford it had to dream, desire, and save their money to make their dream happen. Did they get sidetracked? If they're thinking (instead of the PS3) about a PS2 or Wii or XBOX... then yes, they got sidetracked very easily and never bought the PS3. But most who had genuine, burning desire to buy the PS3 did get theirs... and some of them who had measly income had to save for months and maybe years... but in the end they got it. Because they're PERSISTENT.

 

 

People in life get sidetracked from their focus via obstacles... when they get a failure, they treat it as a permanent failure instead of temporary one.

 

When they fail, they tend to quit, instead of being persistent.

 

 

You had a dream of sitting on this pile of money, instead you got misfortune with your eye conditions and got into debt for medical expenses... Stuff happens dude, including those you can't control, but do they cause you to be mad at the world for your misfortunes, quit from attaining your goal or do they make you stronger? Judging from your post, it seems like you quit and they make you weaker (to be honest with ya) at least when it comes to financial goals. It doesn't say at all about persistence. At the end of the day, you're not sitting on pile of money (your original dream) but instead this pile of debt you're talking about...

 

There're about 1000 billionaires... why can't you be one of them?

 

 

---

 

 

How can you put a single mother with 2 kids as an example? Do you really think you can work your way to be rich (aka $1 mil or more every year)? Sorry dude but wow

 

Only way earned income can make you rich is if you were an NBA player/ pro-sports getting a multi-million income or if you're a CEO in giant companies owned by billionaires like D-Trump, Buffett, Ellison, Jobs, Gates, etc. The rest of them? Doctor/ lawyer probably makes $250k a year...

 

People think it's hard to become rich because they're looking at a wrong income to be rich. You can NEVER become rich, or at least takes you a dammmmmmmnnnn longgggg timeeeee to be rich via this "Earned Income" (aka income earned through working as an employee).

 

Can an employee enjoy an affluent (100k - 1mil/ year) lifestyle? Yes, but not rich level (1mil or more/ year).

 

 

The only way you get rich is if you generate "Portfolio" and Passive" Incomes from your assets. Portfolio are your businesses (restaurants, shops, etc), Passive are things like songs, books, rent.

 

 

Rent is the easiest for people to get passive incomes it seems... that's why so many people go real estate in search of passive incomes. My former boss is like an ordinary guy you find on the street. The difference? He sub-leases 20 (twenty!) properties in his area... he doesn't own them, he sub-leases. He goes out find owners that are willing to rent their properties to him, e.g. they rent it to him for $1500, and he furnishes the apartments with beds and amenities, and he leases to tenants for $2000/ month. He gets $500 per month PER PROPERTY... and he has 20 of them. This means, he gets $10,000/ month into his pocket... with minimal work. And this is my estimation only for the profit he gets from each property... In the hottest suburb here in Melbourne (beach, 24hr restaurants, 24hr cafes, bar, nightclubs) it could be more. If he racks in $1000 PER PROPERTY, that means $20,000/ month.

 

 

If you think you can get an Earned Income (income earned as an employee) of $1mil/ more per year... let me know. I'll sign up... I'll be a damn employee. This is where you get it wrong... If you want to be rich, forget Earned Income dude! You're wasting your time.

[NomarFachix]

WTF is wrong with this guy?

[Real Deal]

You had a dream of sitting on this pile of money, instead you got misfortune with your eye conditions and got into debt for medical expenses... Stuff happens dude, including those you can't control, but do they cause you to be mad at the world for your misfortunes, quit from attaining your goal or do they make you stronger? Judging from your post, it seems like you quit and they make you weaker (to be honest with ya) at least when it comes to financial goals. It doesn't say at all about persistence. At the end of the day, you're not sitting on pile of money (your original dream) but instead this pile of debt you're talking about...

I actually take offense to that. You wouldn't know a [expletive]ing thing about struggling, dude.

 

Say what you want. I don't even read 80% of what you're typing because it's complete and utter crap. A thousand people are billionaires, and almost 7 billion aren't. If it's about words and mindsets, there would be more, simple as that.

 

Here's what you need to drill into your skull: billionaires aren't the only people that try.

 

I honestly don't care what you say pertaining to this subject anymore, because right now, you sound like a stuck-up, know-it-all, pyramid and get-rich-quick scheme promoter that, truly, has absolutely no idea what they are talking about. Real talk. And the majority of this site, and the majority of people in the states and around the world (you know, the billions of people that work their asses off for their families, many trying harder than you can imagine) would agree and say the same exact thing to you.

 

I hope to God you remember these few posts when you're thinking about how incredibly difficult it is to become a millionaire (let alone a billionaire) in 10-20 years.

[Flash]

While I see what you're saying MB, I'm not sure its all that reasonable. Yes, I believe if you have the right mindset and have realistic goals for yourself and are set on achieving them, you can definitely get there but it definitely isn't gonna be as easy as you're making it sound.

Edited October 20, 2010 by Flash

[Nitro]

WTF is wrong with this guy?

 

My guess is pyramid scheme, as Lemon said....

 

Snake has done lost his damn mind.

[Guru]

If you think you can get an Earned Income (income earned as an employee) of $1mil/ more per year... let me know. I'll sign up... I'll be a damn employee. This is where you get it wrong... If you want to be rich, forget Earned Income dude! You're wasting your time.

You are talking in circles man. And yes, there are employees that have an earned income of 1 mil or more per year. I know this may shock you but.... wait for it.... umm.... ATHLETES?

Edited October 20, 2010 by Guru™

[fish7718]

WTF is wrong with this guy?

He just read a great piece of American literature

 

http://uflfansite.com/wp-content/uploads/2009/08/Little_Engine_That_Could.jpg

[Flash]

http://iblogwhatihear.com/wp-content/uploads/2010/01/matthew_lesko_list_view.jpg

[Multi-Billionaire]

You are talking in circles man. And yes, there are employees that have an earned income of 1 mil or more per year. I know this may shock you but.... wait for it.... umm.... ATHLETES?

 

Yup like most people who replied to me here you didn't read my posts... I did mention athletes and CEOs in multi-billion companies.

 

 

 

Real, you tell me if you understand the difference between Earned Income, Portfolio and Passive Incomes. Those people who you say try to become rich, try the WRONG income to make themselves rich. They dream to be rich as a 40-60k/ year employee... If they can save 20-25k/ year (unlikely), it will take them 40-50 years to become a millionaire... talk about being difficult to become rich

 

 

This is because Earned Income has NO LEVERAGE at all. Why is there no leverage? Because time is the only asset you trade in exchange for that Earned Income (money).

 

 

In comparison, let's see how quick a Passive Income can get you to a million mark. My former boss I mentioned in my last post... is no different from a surfer dude in his 40s and stoned-faced guy you see... I also bet in terms of knowledge, academy, you beat him by miles, it's not even close. Dude pauses when he talks, as if he forgets what he wants to say, I swear it's weird sometimes... like he's sober after drugs. But he knows how money works, he has 20 properties (I personally saw the files in his office... 20 of them... who knows he got more in his other offices)? If each makes him $500/ month, he makes $10,000... if each makes him $1000/ month (which I suspect), he makes $20,000/ month... all while he "works" 2-3 hrs a day, AT HIS OWN PACE, not to mention be his own boss... I was one of his employees (moving stuff/ furnitures in/ out of "his properties"). If he just makes $10,000... that means he gets $120k/ year. That means in 8.3 years he becomes $1 mil rich. Compare that to the 40-50 years of savings a 40-60k employee has to go through before they reach their $1 mil mark.

 

 

Extra info: I do sub-lease myself (but just one property)... it sure takes some effort to get to 20 properties like my former boss does. So I'm not completely "clueless" when it comes to Passive Income.

Edited October 20, 2010 by Multi-Billionaire

[Nitro]

Yup like most people who replied to me here you didn't read my posts... I did mention athletes and CEOs in multi-billion companies.

 

 

 

Real, you tell me if you understand the difference between Earned Income, Portfolio and Passive Incomes. Those people who you say try to become rich, try the WRONG income to make themselves rich. They dream to be rich as a 40-60k/ year employee... If they can save 20-25k/ year (unlikely), it will take them 40-50 years to become a millionaire... talk about being difficult to become rich

 

 

This is because Earned Income has NO LEVERAGE at all. Why is there no leverage? Because time is the only asset you trade in exchange for that Earned Income (money).

 

 

In comparison, let's see how quick a Passive Income can get you to a million mark. My former boss I mentioned in my last post... is no different from a surfer dude in his 40s and stoned-faced guy you see... I also bet in terms of knowledge, academy, you beat him by miles, it's not even close. Dude pauses when he talks, as if he forgets what he wants to say, I swear it's weird sometimes... like he's sober after drugs. But he knows how money works, he has 20 properties (I personally saw the files in his office... 20 of them... who knows he got more in his other offices)? If each makes him $500/ month, he makes $10,000... if each makes him $1000/ month (which I suspect), he makes $20,000/ month... all while he "works" 2-3 hrs a day, AT HIS OWN PACE, not to mention be his own boss... I was one of his employees (moving stuff/ furnitures in/ out of "his properties"). If he just makes $10,000... that means he gets $120k/ year. That means in 8.3 years he becomes $1 mil rich. Compare that to the 40-50 years of savings a 40-60k employee has to go through before they reach their $1 mil mark.

 

 

Extra info: I do sub-lease myself (but just one property)... it sure takes some effort to get to 20 properties like my former boss does. So I'm not completely "clueless" when it comes to Passive Income.

 

You just still don't get it...damn. Stop trying to explain how to get rich, and start realizing that there are SOOOOOO many variables that come into play that can prevent one from even getting the oppertunity to run their own business. It goes way beyond desire as there are plenty of things in life that we can't control or foresee that can derail those desires (such as Brandon's eye, or my example of inner-city kids who never receive even a HS education and have to help support their families at an extremely young age, working dead-end jobs or turning to crime). There are so many things in life that you have little to no knowledge of that causes financial ruin, and it goes way beyond simple business economics.

 

BTW, no one expects to become rich off 40-60K per year. They take that job to support themselves and their families as opposed to investing in business ventures in an economy that is eating small business alive.

Edited October 20, 2010 by Nitro

[Flash]

That sounds like the guy just invested wisely. Investments are always a gamble, some pay off and others could bring you down all together.

[Multi-Billionaire]

Dude (Nitro) I was responding to Real's post how he said many people in life tried to be rich and failed...

 

Stuff happens dude... stuff of our own doing (drugs/ alcohols/ procrastination/ negative thinking), and stuff that we can't control (Real's medical condition/ natural disaster). It's a matter of playing with the cards you're dealt and making the most of them.

 

You're right now blaming your shortcomings for the failure of your goal... it's called excuses. I know it sounds tough, but no matter how valid the excuses are they're still called excuses... you don't reach your initial goal/ dream and mention these as a reason why you didn't reach them. The 99% of people who are not rich have thousands of excuses... no matter how valid and sad they are (losing limbs, losing a family member, blaming their parent, neighbors, themselves), they are excuses. The 1% who make it also go through tons of shortcomings of their own just like the other 99%, but the difference is they push through and prevail.

 

 

You LET these shortcomings stop you from reaching your goal.

Edited October 20, 2010 by Multi-Billionaire

[Multi-Billionaire]

That sounds like the guy just invested wisely. Investments are always a gamble, some pay off and others could bring you down all together.

 

Investments/ investing are not ALWAYS a gamble.

 

Those guys who are clueless on stocks, pay "experts" to give them "hot tips" which stocks are hot which are cold... buy thousands of dollars worth of stocks, pray the next day the prices go up, are GAMBLING.

 

They're not called investments/ investing.

 

 

 

Investing is not a method/ your stock... investing is your plan, usually a long term plan, not the "get rich quick Wall Street" style. If you have a plan of how to make your savings of $30k into $500k in 5 years, that plan of yours is your investment.

 

To invest properly you must at least have a certain knowledge of what you're doing. If you don't know what you're doing, it's like throwing darts blindfolded and hope for the best result... that's not called investing, that would be gambling.

 

 

E.g. In the property that I sub-lease, I rent out 2 rooms. The rent for the whole property is $320 pw... since it's in one of the hottest suburbs in Melbourne (near beach, restaurants, cafes, bars, close proximity to city, etc) I know I can rent each room for $200pw for the single room and $250pw for the double room. It gives me a $130pw ($450 - $320) passive income every week or $560 per month... which means even if I don't work, I get $560 monthly.

 

I have to be realistic and know what the markets are... I can't expect to rent a room for the same price in a property located 10 miles outside Melbourne as this one. E.g. in a suburb 10 miles north of Melbourne, you're lucky if you can rent one big room for $120... but in the suburb where I live, $200 is pretty cheap. You have to know what you're doing. In investing you have to know what you're doing, not simply throwing darts blind folded.

 

 

In Wall Street stocks buying/ selling however, most people "buy tips" and do not know the real knowledge of what they're doing. What they truly do is gambling, not investing. That's why like in gambling, they win some and lose big. Only a few know what they're doing and these few are rich.

 

Warren Buffet buys failing companies and turns them into powerhouses... this is not to say "everything he touches turns gold". He just knows based on his own knowledge, experience, and observations which ones to buy (those that have potential) and which ones not to (those that do not have potential whatsoever). He knows which stocks to buy (Coca Cola shares), and which stocks to stay away from.

[Nitro]

Stuff happens dude... stuff of our own doing (drugs/ alcohols/ procrastination/ negative thinking), and stuff that we can't control (Real's medical condition/ natural disaster). It's a matter of playing with the cards you're dealt and making the most of them.

 

Yes, and for most people making the most of the cards they are dealt still doesn't get them anywhere close to being a millionaire.

 

You're right now blaming your shortcomings for the failure of your goal... it's called excuses. I know it sounds tough, but no matter how valid the excuses are they're still called excuses... you don't reach your initial goal/ dream and mention these as a reason why you didn't reach them. The 99% of people who are not rich have thousands of excuses... no matter how valid and sad they are (losing limbs, losing a family member, blaming their parent, neighbors, themselves), they are excuses. The 1% who make it also go through tons of shortcomings of their own just like the other 99%, but the difference is they push through and prevail.

 

First off, watch your [expletive]ing mouth when discussing me on a personal level. Don't tell me what I am and am not doing when you don't know my situation. I never once brought myself into this discussion, so don't go there.

 

Secondly, let's use an NBA analogy. 1 out of 30 teams every year win the championship. There are usually 3-4 teams that truly have a realistic shot based on talent, coaching, management, etc... Those teams may not even maximize what they have, but they still have the resources to win it regardless. Then you have the other teams...some severely underperform, some do as expected, and some truly max out what they have (I'm thinking Bucks from last year). But, even though they max out what they have given their resources, they still can't beat the teams with more talent, better coaching, etc... Now, in the real world, it's much the same. Some people have those resources to get rich. Most other people don't, and even though some of them are maxing out what they can do given their situation, it isn't anywhere close to netting them a million dollars.

[Real Deal]

Discussion over.