Generally, how do you get rich?

Question

Generally, how do you get rich?

Give me a non-midwit non-boomer consensus.

Start a business and constantly invest and expand and be incredibly astute to market demands and becoming THE supplier for all that demand, constantly reinvesting profits to grow bigger and bigger so you basically make no money.

DCABEL

decipher the above

Basically make no money

actually build skills

get a high paying job

job gets you knowledge, skills, and freedom to build a service or business that provides value somewhere.

Invest

It actually takes hard work to get rich u fuckin retard.

Just look at the percentiles for networth.

Not everyone is going to make it

he said non-midwit non-boomer consensus

Buy bitcoin

Hold through three cycles

You’re rich!

Yeah thats the thing though. You grow assets but you don't grow liquid cash. People who only grow liquid cash are poor as fuck. Look at musk and look at where the bulk of his net worth is.

dude is starting with $4,500 saved from his warehouse job.

You need liquid cash to pay rent, eat, and actually do stuff in the world.

You aren't going to get rich without a base disposable salary to actually participate in the game.

So basically anything that isn't putting meat on the table goes into business expansion.

What percent should go to FUN because rich people should be having a lot of it

Hi vsauce
Michael here
People need lots of money to live and be happy
...or DO they

Checked. And this guy is right. My average buy in on all my Bitcoin is sub 20k. Imagine that. Ilisteed to this guy before he was here

man

Luck. It literally is just luck. In a market economy made of up individual actors trading randomly, they act like gas molecules randomly exchanging energy. Random distribution of energy follows a Boltzmann distribution where, even if every molecule starts on an even energy, over time a few molecules end up with most of the energy while the majority of molecules have little. So it is in economics.

The odds are even more stacked against you though because here's the kicker. While the majority of society follow the Boltzmann distribution, which can explain some people being homeless and some being millionaires, according to this model there shouldn't be billionaires. They instead obey a different distribution, so there is definitely foul play going on. If you just leave a market to run, you expect homeless and multi-millionaires, but these laws do not explain how billionaires can arise. Which implies meddling.

1. Acquire base income sufficient to meet your basic needs with sufficient left over to do with as you please
2. Buy down risk via savings, insurance, etc, so that minor black swan events in your life do not financially ruin you, because eventually, it will happen
3. Use your spare income to purchase or develop income-generating assets (stocks, starting a business, etc)
4. Use the income from those assets to purchase and develop more assets
5. Repeat step 4 until financially independent and you no longer need to work
6. Bribe ("Lobby") politicians so that your wealth is enshrined into law via subsidies, required middlemen services, etc

Yeah, it's mostly luck. People are born with significant advantages over others: 2 parents w/degrees in engineering, 1 works at IBM, 1 works at the local university, they put you into private school, got you tutors if you struggled or to get you ahead, put you into SAT prep, got you the right recommendations for college (your parents friends), you went to a good college and were roommates with "son of wealthy finance man", and you were born at the right time: 20 years before the greatest explosion in consumer tech we'll ever see, 0% interest rates, and highly active VCs.

So, when it comes time to try to 'make it big' by creating some smartphone social media app, you'll have a bit of a head start. But don't worry, just work harder and make better decisions and you too can come up w/an idea for an app that takes a picture then deletes after 30 seconds it and become a billionaire.

Sell shoestrings
Everyone needs them
What else are they going to pull themselves up with?

1. Be really smart in a way that puts you in contact with new things
2. Get stupidly familiar with thing most other people aren't
3. Use that to put together a lean startup with no to few competitors
4. Be super cheap and get that off the ground
5. Take that money and invest in something else
6. Succeed, do it one more time
7. Billionaire eventually

Be a genius in 2010
Predict the future of bitcoin
You are now hyper rich

Sorry sweety the ship has sailed : )

Outside of participating in the grifting economy or making some killer product that is both revolutionary and valuable (on a shoestring budget in your basement).

You don’t.

I’m not going to tell you because of the photo you chose.

Every rich asshole i ever met doesn't have shit in the bank they always have a company that pays everything for them if you check them they own nothing not even the house they live in i make websites for big companies my last customer has 30millions plus of patrimony he doesn't even owns a car but the hotels he manages have so they drive hi whathever he needs to go "for free" thats what he means woth making no money

Actual ownership or profit is tax hell anon. I don’t know where you live but over here doing anything as a person instead of as a company or registered fiscal entity is just asking the govt to fuck you.

who is that?

go all in on snake of solana. ticker: HISS

Exchanging inflationary cash that depreciates in value for cash generating assets that appreciate in value. It is just that simple. Stop selling your labour for cash and start employing the labour of others.

what's 2 + 2 and no, don't tell me it's 4

shut the fuck up nigger

once youre saving more than 50% of what you earn, it snowballs pretty quick if you keep your lifestyle flat