Money Doesn't Make a Better Person.....
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In reference to retirement living, not trailer trash scum living, but still appropos, my financial advisor often says, "You cannot change the habits of a lifetime!"
His point is that cheap (born out of wedlock) folks will continue to live inexpensively, even when they have accumulated plenty of means to live better.
Trailer trash is a condition brought on by human enertia. They continue to seek the level of misery that they are comfortable with.
His point is that cheap (born out of wedlock) folks will continue to live inexpensively, even when they have accumulated plenty of means to live better.
Trailer trash is a condition brought on by human enertia. They continue to seek the level of misery that they are comfortable with.
Originally Posted By: philipp10
Originally Posted By: d00df00d
Few thoughts:
1. I heard once (from someone who'd know) that getting rich amplifies all your personality traits. If you're really a good person, you'll end up doing a lot more good. If you're not, you'll do a lot worse. Seems accurate.
2. This case is a perfect example of why lotteries exist in the first place. The vast majority of people who play them either have no idea how badly they're wasting their money, or are too impulsive to care. So, on the extremely rare occasion when someone does win, they're probably the type to blow everything in a hurry, which sends the post-tax proceeds right back into the economy (and, in this case, governments). It's basically a tax on shortsightedness.
3. Obviously there's no excuse for these people's (or anyone's) behavior. At the same time, before we look down our noses at them, I think we'd all do well to remember that a windfall worth tens of millions of dollars is enough to make your whole world come unglued. You just have no idea how you'll act when that kind of thing happens, until it happens.
Sorry but I cannot agree with #3. The biggest issue facing most lottery winners is all the "friends" and "family" that suddenly show up with hands out. For me, if I won, I would purchase the recently closed gardening store near me and make it great again. Hopefully it would not bankrupt me though...lol
No, that's not the biggest issue. The biggest issue is that habits perpetuate themselves.
If you took someone who's never turned a wrench and gave them a garage full of tools, would you expect them to be a competent mechanic? Hopefully not. Likewise, if you take someone who's spent decades living paycheck-to-paycheck and inundate them with money, you can't expect them to be a competent wealth manager. People who live paycheck-to-paycheck tend to spend everything they have, either out of necessity or because they never know what tomorrow will bring. That habit becomes ingrained and they just don't know how to be any other way. Much less do they have the slightest idea what it means to have millions of dollars. No surprise that they blow everything when they get a windfall.
As for "what you'd do..." yeah, everyone has a story like that. Including the people who win. Again, until it happens to you, you have no idea.
Originally Posted By: d00df00d
Few thoughts:
1. I heard once (from someone who'd know) that getting rich amplifies all your personality traits. If you're really a good person, you'll end up doing a lot more good. If you're not, you'll do a lot worse. Seems accurate.
2. This case is a perfect example of why lotteries exist in the first place. The vast majority of people who play them either have no idea how badly they're wasting their money, or are too impulsive to care. So, on the extremely rare occasion when someone does win, they're probably the type to blow everything in a hurry, which sends the post-tax proceeds right back into the economy (and, in this case, governments). It's basically a tax on shortsightedness.
3. Obviously there's no excuse for these people's (or anyone's) behavior. At the same time, before we look down our noses at them, I think we'd all do well to remember that a windfall worth tens of millions of dollars is enough to make your whole world come unglued. You just have no idea how you'll act when that kind of thing happens, until it happens.
Sorry but I cannot agree with #3. The biggest issue facing most lottery winners is all the "friends" and "family" that suddenly show up with hands out. For me, if I won, I would purchase the recently closed gardening store near me and make it great again. Hopefully it would not bankrupt me though...lol
No, that's not the biggest issue. The biggest issue is that habits perpetuate themselves.
If you took someone who's never turned a wrench and gave them a garage full of tools, would you expect them to be a competent mechanic? Hopefully not. Likewise, if you take someone who's spent decades living paycheck-to-paycheck and inundate them with money, you can't expect them to be a competent wealth manager. People who live paycheck-to-paycheck tend to spend everything they have, either out of necessity or because they never know what tomorrow will bring. That habit becomes ingrained and they just don't know how to be any other way. Much less do they have the slightest idea what it means to have millions of dollars. No surprise that they blow everything when they get a windfall.
As for "what you'd do..." yeah, everyone has a story like that. Including the people who win. Again, until it happens to you, you have no idea.
Originally Posted By: cashmoney
Originally Posted By: hattaresguy
Money won't change poor people, they are in that situation for a reason.
Very well said - 100% True
I would add the qualifier most. There are a few who are poor due to circumstances beyond their control, I.E. born into a poor family.
Now if you stay poor, it's likely due to your choices. But one can be born poor and it's certainly not your fault.
Originally Posted By: hattaresguy
Money won't change poor people, they are in that situation for a reason.
Very well said - 100% True
I would add the qualifier most. There are a few who are poor due to circumstances beyond their control, I.E. born into a poor family.
Now if you stay poor, it's likely due to your choices. But one can be born poor and it's certainly not your fault.
Originally Posted By: hattaresguy
Money won't change poor people, they are in that situation for a reason.
I disagree. Money does change people. Just see how people around any lottery winner change and ask for money.
As far as the poor being poor "for a reason", it's mainly because the rest of us aren't willing to help them out.
Money won't change poor people, they are in that situation for a reason.
I disagree. Money does change people. Just see how people around any lottery winner change and ask for money.
As far as the poor being poor "for a reason", it's mainly because the rest of us aren't willing to help them out.
Originally Posted By: hattaresguy
Money won't change poor people, they are in that situation for a reason.
Unfortunately this is very true
You can't actually help someone who refuses to help themself
Money won't change poor people, they are in that situation for a reason.
Unfortunately this is very true
You can't actually help someone who refuses to help themself
Boyfriend's gang just found a new source of income.
Originally Posted By: Inspecktor
Boyfriend's gang just found a new source of income.
This. PT Barnum figured this out over 150 years ago.
Boyfriend's gang just found a new source of income.
This. PT Barnum figured this out over 150 years ago.
For some, winning the lotto is a curse.
Originally Posted By: javacontour
Originally Posted By: cashmoney
Originally Posted By: hattaresguy
Money won't change poor people, they are in that situation for a reason.
Very well said - 100% True
I would add the qualifier most. There are a few who are poor due to circumstances beyond their control, I.E. born into a poor family.
Now if you stay poor, it's likely due to your choices. But one can be born poor and it's certainly not your fault.
you can be born to poor family and it's not your fault it is true ( although family too is poor for a reason ) but 9 out of 10 you as a child do pick up your familys habits and genes, good or bad, and if you were raised a certain way, that's the only way you know exists. Of course it's not their fault either.
Originally Posted By: cashmoney
Originally Posted By: hattaresguy
Money won't change poor people, they are in that situation for a reason.
Very well said - 100% True
I would add the qualifier most. There are a few who are poor due to circumstances beyond their control, I.E. born into a poor family.
Now if you stay poor, it's likely due to your choices. But one can be born poor and it's certainly not your fault.
you can be born to poor family and it's not your fault it is true ( although family too is poor for a reason ) but 9 out of 10 you as a child do pick up your familys habits and genes, good or bad, and if you were raised a certain way, that's the only way you know exists. Of course it's not their fault either.
Originally Posted By: ramammoth
Originally Posted By: hattaresguy
Money won't change poor people, they are in that situation for a reason.
I disagree. Money does change people. Just see how people around any lottery winner change and ask for money.
As far as the poor being poor "for a reason", it's mainly because the rest of us aren't willing to help them out.
Well I have lots of "poor friends". But when I say poor, they are not poor in their family income as they all make about the same as me and my wife do (around 90-110k a year). However, they are poor in that they have never aquired any real assets. They all have homes, with big mortgages. They all have nice cars, with big loans and they all have lots of fun at restaurants and concerts. But they are all basically broke. No net worth and always complaining they are broke. So in effect, there are lots of Americans that make decent money but are one job loss from losing it all. Guess my point is, there will always be lottery winners that will blow it and others that have a hard time spending it. I know I would be in the latter camp and I do know what I would do based upon my past experiences.
As far as helping out the poor, I would consider it if I knew they would be responsible. However, I would guess if you gave a million dollars to 100 people, in 10 years, one guy would end up with most of it just due to how he handles his money compared to the rest. Sometimes you just cannot fix people.
Originally Posted By: hattaresguy
Money won't change poor people, they are in that situation for a reason.
I disagree. Money does change people. Just see how people around any lottery winner change and ask for money.
As far as the poor being poor "for a reason", it's mainly because the rest of us aren't willing to help them out.
Well I have lots of "poor friends". But when I say poor, they are not poor in their family income as they all make about the same as me and my wife do (around 90-110k a year). However, they are poor in that they have never aquired any real assets. They all have homes, with big mortgages. They all have nice cars, with big loans and they all have lots of fun at restaurants and concerts. But they are all basically broke. No net worth and always complaining they are broke. So in effect, there are lots of Americans that make decent money but are one job loss from losing it all. Guess my point is, there will always be lottery winners that will blow it and others that have a hard time spending it. I know I would be in the latter camp and I do know what I would do based upon my past experiences.
As far as helping out the poor, I would consider it if I knew they would be responsible. However, I would guess if you gave a million dollars to 100 people, in 10 years, one guy would end up with most of it just due to how he handles his money compared to the rest. Sometimes you just cannot fix people.
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In general the rich are rich because they keep doing what makes people rich and the poor are poor and stay poor because they keep doing what makes people poor. Buying cars with 72 or 84 month payments, using paycheck loans, running up multiple credit cards, not paying your bills, having no emergency savings, not investing in valuable training/education, etc - all behaviors of people destined to remain in the debtor class.
Yes people are born into poor uneducated families (like I was) but in the USA being born poor is a minor handicap for those who don't mind hard work and seriously want to better themselves.
Yes people are born into poor uneducated families (like I was) but in the USA being born poor is a minor handicap for those who don't mind hard work and seriously want to better themselves.
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There are bad examples and then there are good examples. This story is a good example that the young and poor should learn from.
http://sports.yahoo.com/blogs/nbc-yahoo-...-133743339.html
http://sports.yahoo.com/blogs/nbc-yahoo-...-133743339.html
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Originally Posted By: cashmoney
Yes people are born into poor uneducated families (like I was) but in the USA being born poor is a minor handicap for those who don't mind hard work and seriously want to better themselves.
Are you kidding?
The class you were born, the people you know and luck are the determinants how well you do wealth wise. Hard work is the myth fed to us. Who do you think works harder -- a person with three part time jobs paying minimum wage or the Donald?
Yes people are born into poor uneducated families (like I was) but in the USA being born poor is a minor handicap for those who don't mind hard work and seriously want to better themselves.
Are you kidding?
The class you were born, the people you know and luck are the determinants how well you do wealth wise. Hard work is the myth fed to us. Who do you think works harder -- a person with three part time jobs paying minimum wage or the Donald?
Work will set you free!
Originally Posted By: Alfred_B
Originally Posted By: cashmoney
Yes people are born into poor uneducated families (like I was) but in the USA being born poor is a minor handicap for those who don't mind hard work and seriously want to better themselves.
Are you kidding?
The class you were born, the people you know and luck are the determinants how well you do wealth wise. Hard work is the myth fed to us. Who do you think works harder -- a person with three part time jobs paying minimum wage or the Donald?
Hard work is a myth fed to us....are you being serious comrade? Almost every person that has wasted time, hasn't adequately invested in their future, and has squandered opportunities has a million reasons why they they could not get ahead. In terms of hard work most folks that don't get very far in life tend to confuse effort with effectiveness - they are quite different. Effectiveness rather than pure effort produces achievement.
Originally Posted By: cashmoney
Yes people are born into poor uneducated families (like I was) but in the USA being born poor is a minor handicap for those who don't mind hard work and seriously want to better themselves.
Are you kidding?
The class you were born, the people you know and luck are the determinants how well you do wealth wise. Hard work is the myth fed to us. Who do you think works harder -- a person with three part time jobs paying minimum wage or the Donald?
Hard work is a myth fed to us....are you being serious comrade? Almost every person that has wasted time, hasn't adequately invested in their future, and has squandered opportunities has a million reasons why they they could not get ahead. In terms of hard work most folks that don't get very far in life tend to confuse effort with effectiveness - they are quite different. Effectiveness rather than pure effort produces achievement.
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Originally Posted By: cashmoney
Hard work is a myth fed to us....are you being serious comrade? Almost every person that has wasted time, hasn't adequately invested in their future, and has squandered opportunities has a million reasons why they they could not get ahead. In terms of hard work most folks that don't get very far in life tend to confuse effort with effectiveness - they are quite different. Effectiveness rather than pure effort produces achievement.
Sounds like an advert to getinto pimpin'...
Hard work is a myth fed to us....are you being serious comrade? Almost every person that has wasted time, hasn't adequately invested in their future, and has squandered opportunities has a million reasons why they they could not get ahead. In terms of hard work most folks that don't get very far in life tend to confuse effort with effectiveness - they are quite different. Effectiveness rather than pure effort produces achievement.
Sounds like an advert to getinto pimpin'...
Originally Posted By: Jetronic
Originally Posted By: cashmoney
Hard work is a myth fed to us....are you being serious comrade? Almost every person that has wasted time, hasn't adequately invested in their future, and has squandered opportunities has a million reasons why they they could not get ahead. In terms of hard work most folks that don't get very far in life tend to confuse effort with effectiveness - they are quite different. Effectiveness rather than pure effort produces achievement.
Sounds like an advert to getinto pimpin'...
No respect for pimpin? Deh-yham...it's hard out here...
Originally Posted By: cashmoney
Hard work is a myth fed to us....are you being serious comrade? Almost every person that has wasted time, hasn't adequately invested in their future, and has squandered opportunities has a million reasons why they they could not get ahead. In terms of hard work most folks that don't get very far in life tend to confuse effort with effectiveness - they are quite different. Effectiveness rather than pure effort produces achievement.
Sounds like an advert to getinto pimpin'...
No respect for pimpin? Deh-yham...it's hard out here...
It does, but why?
Is it because there are those who will not work SMARTER?
I don't disagree that the person working 2 or 3 jobs and going to school is working harder in some sense than a billionaire.
The question is to what end? After all, 30+ years ago, that was me. I worked a couple of jobs while taking a full load for a double major and keeping up with my ROTC requirements. My 21 year old daughter has 3-4 jobs this summer. Three of them pay and one is for volunteer work to get into the peace corps.
But there is working smart and there is working hard. She is working smart, towards an end.
There are many who shoot holes in their own boat, so to speak. So if they are working 3 jobs, but drinking up their pay, or spending it on the latest shiny, or they have kids with 4 different partners, or you name it, is the problem their work, or what they do when they are NOT at work?
I agree, not everyone is born with the same advantages. I simply disagree that it's not possible for people to move up the socio-economic ladder.
Is it easy? No! Is it impossible? Also no!
Originally Posted By: Alfred_B
Originally Posted By: cashmoney
Yes people are born into poor uneducated families (like I was) but in the USA being born poor is a minor handicap for those who don't mind hard work and seriously want to better themselves.
Are you kidding?
The class you were born, the people you know and luck are the determinants how well you do wealth wise. Hard work is the myth fed to us. Who do you think works harder -- a person with three part time jobs paying minimum wage or the Donald?
Is it because there are those who will not work SMARTER?
I don't disagree that the person working 2 or 3 jobs and going to school is working harder in some sense than a billionaire.
The question is to what end? After all, 30+ years ago, that was me. I worked a couple of jobs while taking a full load for a double major and keeping up with my ROTC requirements. My 21 year old daughter has 3-4 jobs this summer. Three of them pay and one is for volunteer work to get into the peace corps.
But there is working smart and there is working hard. She is working smart, towards an end.
There are many who shoot holes in their own boat, so to speak. So if they are working 3 jobs, but drinking up their pay, or spending it on the latest shiny, or they have kids with 4 different partners, or you name it, is the problem their work, or what they do when they are NOT at work?
I agree, not everyone is born with the same advantages. I simply disagree that it's not possible for people to move up the socio-economic ladder.
Is it easy? No! Is it impossible? Also no!
Originally Posted By: Alfred_B
Originally Posted By: cashmoney
Yes people are born into poor uneducated families (like I was) but in the USA being born poor is a minor handicap for those who don't mind hard work and seriously want to better themselves.
Are you kidding?
The class you were born, the people you know and luck are the determinants how well you do wealth wise. Hard work is the myth fed to us. Who do you think works harder -- a person with three part time jobs paying minimum wage or the Donald?
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