Heard an interesting fact from financial advisor..

My father was an electrician and ran his own electrical business. He got emergency calls at night and on weekends. When he had a big job to do, some of his employees called in sick (usually from hangovers). My mother worked in the office, which wasn't good for the marriage, and they fought. I worked for him part time in summers and hated that kind of work. He did not make a good living at all, and had no health insurance, so he relied on the VA for care. He finally gave it up and went to work for the City as an electrical inspector, and earned good money, plus retired with benefits and a top notch Medicare supplement plan that the City paid for.
 
My second husband was self employed for decades, well before I met him. He owned a boutique and a small restaurant. Sometimes he had to let go of the restaurant(s). Good, reliable employees are hard to find. Like @MACKTEXAS's father, my husband didn't have health insurance until he got on Medicare. Blessedly he never got sick before then. He had worked other jobs before becoming self employed, so did get social security. He was far from being rich, no matter how much time he put into his business. And when people got hit with inflation, it adversely affected his business.
 
officerripley said:
If you don't count the government contracts they've been given.
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No they are not self employed, there self-fish! Does man have to go to the Moon again, no. Ai can do it.
So, does man need to go to the Mars ever, No Ai can do it. Who gets to go to the bottom of the ocean, Ai can do it.
What is actually important is Ai can do all of it real cheap. No pay, no benefits, poorly designed stuff and just make /n do.
$$$ trillion dollar jet programs, no Ai can fly lil drones. Same with Subs and Aircraft Carriers. Ai can launch them lil drones from
a floating 4'x8' piece of plywood, even an ice cube.
 
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Beezer said:
I think what school you attended as well doesn't mean squat. If you are born driven with a sense of purpose...you'll find a way.
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funny you said that because when my son graduated at the top of his law school he applied for a summer internship.

he was told they would consider him but they dont recruit from hofstra law school .

if he switched in his last year to columbia , nyu or brooklyn law they would consider him .

so he tried to transfer but the school never processed his papers .

in the mean time to get visibility he became an editor for labor law review.

unknowingly he reviewed a case by the same firms white plains office .

he applied to the manhattan office .

well someone in the white plains office read his review. and said let’s get this guy in here .


the rest is history .

today he is a full equity partner in the firm. and he made his home office manhattan .

the guys who turned him down now are not only his friends but now work under him .

so as i always say , those who really want to succeed at something will find a way . the rest will find an excuse
 
Most likely an 8 to 4:30 6 days a week or nights attitude gets one past the Looser stages.
Most likely hard liquor and drugs ruing things. Youth and mistakes are teachable, possibly?
 
There is a big difference between being wealthy and rich.

I am not at all wealthy, but I am rich in so many ways.

I am part of a family that is rich in love and consists of four generations of gentle, loving and compassionate people. We help each other according to needs and means.

I am secure financially in my old age and I own the home that I live in. It provides hospitality as well as shelter for those that need it from time to time.

I can afford to buy groceries at the supermarket, and I am able to seek medical care, advice or treatment without going bankrupt.

I have all that I need materially and have no desire for more. Why strive to acquire wealth if you don't need it? Wealth brings its own pain and problems.
 
bobcat said:
If wealthiest means anyone with assets over 20 million or so, then it's probably true.
One who works for another may be able to achieve that financial success, but they are likely the exception.
That being said, the wise know that money can't buy happiness.
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money may not by happiness but it sure can buy many choices in life. and that can be so important
 
i always worked for someone except for my part time gigs like drumming and my early on hvac work .

i learned to become a better investor and over decades that money compounded and grew . i always made sure i had some money to invest and the more i had the bigger the deals i was able to do .

while i am not rich the fact i retired on multiple 7 figures does put me in the top 3.44% of the country by wealth so i don’t buy in to to this crap about working for someone leaves you poor
 
i learned as a teen the importance of choices in life .

i grew up in a nyc low income housing project. because we had no choice .

but unfortunately i hung with a group of guys that were bad news .

well one day the guys were going to do something and i opted out and so did a friend of mine so we didn’t go with the group .

well they got busted and somehow my friend i was with was also charged .

i knew he was innocent because we were together but now he had a dilemma.

he was just over the limit for aid and couldn’t afford a lawyer.

he was going to plead guilty to lesser charges just not to risk court .

imagine pleading guilty to something you didn’t do just because you had no choice .

he would have had a record for nothing .

at the last minute a relative came to his rescue and got him an attorney , he was found not guilty .


so that was a lesson that stuck with me forever .

the importance of choices .

in fact my dad had to move to florida because he couldn’t afford to live here .

his grand children barely knew who he was .

he was a vaca stop over and they saw him maybe once or twice a year .

he was out of their lives for the most part .

so it has been a life long goal to never be in situations like i was or knew of
 

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