patrick.net

Dan8267 says

As for Paris Hilton's success, I could give you a link to the video.

No need, I am familiar with her video.

Yes, that did kick-start (perhaps there is a better word than "kick") her success.

From what I understand there have been thousands of young ladies who have made similar videos available on the internet. But, alas, without the Hilton name they have not been able to parlay it into a career of movies, singing, reality shows, ringtone, etc.

Another success factor is living in a certain kind of country.

One with an immensely built up infrastructure, including universal access to telecommunications, public roads, well-run airways, reliable electric power, sewage.

One where workers don't necessarily have to stay home as caregivers if if they have elderlay parents. Where those workers are educated. Where those workers earn enough to buy the products that the entrepeneur wishes to bring to market.

One where everyone has a reasonable baseline level of education, and where help is available to attend college if it's needed.

Oh fuck it. I've got mine. All of the above can go to hell. Just give me my 14% tax rate so I can coast to early retirement. The next generation pull itself up by the frayed bootstraps left to me by generations past.

I pulled myself up by those bootstraps. They haven't quite snapped yet. And I am Taxed Enough Already.

What is the official definition of a millionaire?
1. Net worth(including primary residence)>$1mil?
2. Net worth-primary residence>$1mil?
3. Net worth-(primary residence+retirement funds)>1mil?

leoj707 says

Dan8267 says

Trump's success is pure luck and sleaziness.

He also had an incredibly wealthy father, and got a very large inheritance.

Did not know that, but not surprised either.

burritos says

What is the official definition of a millionaire?

The people I was thinking of would be millionaires on the basis of their cash, bonds, stocks, but excluding their houses.

With all the dot com millionaires, you will think that most millionaires are self-made.
Wrong. Most millionaires inherited.

Bill Gates. He was rich before he was ever born.
The list can go on.

They were honest
True. They can freely tell his workers sucks.
But you have to lie, and say "how great your boss is" to keep your job.

They got along with others
Wrong, others try to get alone with them.

They had a supportive spouse
Wrong, his spouse supports his money.
How often do you see a 20 year old marry a 60 year old poor man?

They worked harder than most
Wrong, they tell other to work hard for them

They loved their career/business
Everyone loves his career as long as he owns it

They were very well organized
Then why do they need secretary?

They made wise investments
Wrong, millionaires own more bonds than stocks.

xenogear3 says

With all the dot com millionaires, you will think that most millionaires are self-made.
Wrong. Most millionaires inherited.
Bill Gates. He was rich before he was ever born.
The list can go on

Vicente says

Most "wealth" in this country is not derived from hard work but inheritance.

Billy Gates had nothing.. nor did Jobs Woz Ellison or any of the Tech titans many never speak of.. long before you came to Silicon Valley.. those who founded the semi software or storage industries.

Dan8267 says

The problem is with the people who become billionaires, the truly wealthy. They never become wealthy by producing such enormous wealth, because short of being an engineer who invents something truly revolutionary, you cannot as a single individual generate billions of dollars of actual wealth.
The only way to acquire such wealth is at the expense of others through zero-sum games. This is why the ultra-rich are composed almost entirely of unethical slimeballs. They aren't the proverbial ant in The Ant and Grasshopper Story

No you dont need to be an Engineer, just a different mindset. And how would your comments explain Route 128 in Boston or Silicon Valley ?

xenogear3 says

They made wise investments
Wrong, millionaires own more bonds than stocks

They have neither.. they have a crazy idea they cant shake off until they fulfill it. When it becomes a product, and it works, they patent or copyright it.

xenogear3 says

With all the dot com millionaires, you will think that most millionaires are self-made.

Wrong. Most millionaires inherited.

Bill Gates. He was rich before he was ever born.

The list can go on.

They were honest

True. They can freely tell his workers sucks.

But you have to lie, and say "how great your boss is" to keep your job.

They got along with others

Wrong, others try to get alone with them.

They had a supportive spouse

Wrong, his spouse supports his money.

How often do you see a 20 year old marry a 60 year old poor man?

They worked harder than most

Wrong, they tell other to work hard for them

They loved their career/business

Everyone loves his career as long as he owns it

They were very well organized

Then why do they need secretary?

They made wise investments

Wrong, millionaires own more bonds than stocks.

Steve Jobs was not rich to begin with. His parents did sell everything for him to go to Reed College which he did not graduate from. In return he gave them 750k, after apple IPO'd and he became worth 250 million. Steve Jobs did make the future, but he was an asshole and a half.

Catchy title.. and worth the read...

Accidental Empires: How the Boys of Silicon Valley Make Their Millions, Battle Foreign Competition, and Still Can't Get a Date

http://www.amazon.com/Accidental-Empires-Silicon-Millions-Competition/dp/0887308554

See what I mean.
Everyone talks about .con millionaires.

The truth is that there are far more OTHER millionaires than the .con ones.
You don't even know their names.

If you know their names, the chance is high that they are self-made.

thomas.wong1986 says

No you dont need to be an Engineer, just a different mindset. And how would your comments explain Route 128 in Boston or Silicon Valley ?

Both are filled with engineers.

xenogear3 says

Everyone talks about .con millionaires.

Typo, Freudian slip, or social commentary?

Nomo, I said I was "probably" on the government assaination list. You probably are too. Nevertheless, you need to take a readin class.

Why would I be on "the list"? I dono - because I drive a pickup truck? I own a shotgun? Because I have a Ron Paul sticker on my Mercedes SL500? Because I protest the out of control waste, fraud, and mismanagement of our government?

Or would it be because I'm anti-war? Because I'm against the political agenda of creeping tyranny? Because I'm against the constant erosion of our basic human rights and liberties? Or what? YTM.

You, and the government have all the details about me wrong...with the exception of item 2 on your list above.

thomas.wong1986 says

Billy Gates had nothing..

Bill Gates parents were millionaires, back in a time when millionaire meant something more than it does today.

He was going to Harvard and being groomed to become a lawyer when he dropped out of college to get into tech.

Here's a "Get out of Jail Free" card. Enjoy.

http://www.theblaze.com/stories/heroin-dealer-allegedly-posts-bail-with-his-ebt-card/

leoj707 says

Bill Gates parents were millionaires, back in a time when millionaire meant something more than it does today.
He was going to Harvard and being groomed to become a lawyer when he dropped out of college to get into tech

and found himself in middle of Albuquerque, New Mexico.
This isnt Beverly Hills or Palm Beach is it now!

If his parents did give him some seed money, surely he could of done better than New Mexico. His nearest competitor was living in Carmel, Ca.

Rich people hate each other too.

.com bust is intentionally caused by the rich Republicans.

What difference if Bill Gates or Mark Zukerberg had wealthy parents? They and they alone caused their own success.

We are all self made men, but only the successful ones admit it.

We create our own destiny by the choices we make.

I'd like to add one more factor to the list: read self-help books.

Honest Abe says

I'd like to add one more factor to the list: read self-help books.

Why didn't anyone think of that before? I mean there are probably millions of college grads and former realtors who could be BILLIONAIRES if only they read the right book.

America is all about the connections, even people who fell off the wagon of their parents wealth such as Bill Gates were able to foster relationships most could only dream of having. Its all about knowing the right people.

Bet you rags to riches cultist also think our healthcare is so gougetastic because of dem illegals gettin free emergency room visits. It has been proven the only places with worse social mobility than the USA are places with even more corruption and poverty, aka places with no socialism.

Also FYI north Korea's system is closer to american capitalism than socialism, they let unconnected families who fall on hard times drop dead, literally.

The comment by Thunderlips is almost but not quite correct: some kids actually do attend the good prep schools like Exeter for free.
I attended one of the schools and the nickname for the program for the kids was ABC=A Better Chance.
I don't know what % of the kids with me were those kids, but I later was friends with one kid in college until I transferred.
Oddly enough, he lived in a VERY small town. The town didn't want to operate a school with their small population and budget. So guess what? The TOWN paid for his son to attend the same expensive prep school.
But Thunderlips is correct, in general the students were from families with more to spend on education.
The "racket" I saw was some guys repeated a grade and if they did well in the school, they were going to attend a better college. This seemed to be a crummy prearrangement or some such. My roommate was one of these guys called "PGs"=Post graduates.
Incidentally, the quality of the education was mostly related to the small class size, discipline and rigors of classes even on Saturday mornings. I would not say the average prep school instructor was more capable than a similar teacher at a public city high school.
It's hard to flake out on homework when there are just 10 of you sitting around a big oval table and the teacher looks over at you ready to ask a question.

I unfortunately lack many of the qualities on the list of attributes of millionaires. Darnit.
One that I would put on there somewhere is: "Is motivated to impress females and is therefore driven to success."
How else can you explain a guy buying a ring for $5 million for a woman? You know he wants to be a success to be able to do such gift giving.
The richest person I know made his money the old fashioned way: he inherited it.

Honest Abe says

I'd like to add one more factor to the list: read self-help books.

I think you got that backwards. It should be write self-help books. That is the only proven way that self-help books get people rich.

add to Leoj707:
1. Write book on how to lose weight, targeted to women.
2. write book on how to get rich
3. write book on how the rich got rich
4. write book on the toys, houses, habits, foods, cars of the rich
5. write book on the women of the rich.
6. picture book on the women of the rich
7. picture book on women (random)

How about a TV program called "Lifestyles of the Rich and Famous"...now that would surely be a hit!

BTW, I would have thought it was implied that you should not only READ self help books...but actually put into practice the advice which is offered.

I want to bake a chocolate cake. (1) read the recipe and take no action does not yield a chocolate cake. BUT (1) read the reciept, (2) gather the ingredients, (3) follow the reciept and baking instructions...and walaa! A chocolate cake.

Doesn't every college and university in America utilize books to educate their students? So are the students encouraged to read, and do nothing. OR are they encouraged to read, and then take appropriate actions? You tell me.

Honest Abe says

BTW, I would have thought it was implied that you should not only READ self help books...but actually put into practice the advice which is offered.

The problem is that the advice given in the get rich advice book is bullshit, and self-masturbatory garbage. Not too dissimilar to the list you used to start this thread.

I doubt that any one of Donald Trumps books says the secret to his success was being born in to a wealthy powerful family and a huge inheritance. I would not be surprised if Trumps book, lecture, celebrity income far and away exceeds any money he made in actual business.

So just as easy as baking a cake:
1. Get born to a wealthy powerful family
2. Inherit millions
3. Write books on how other can get rich like you!

Easy! Abe just follow those steps and soon you will be a billionaire like Trump!

Leo, advice given in self help books is "bullshit"? Really???

Here is a paraphrased piece of advice from any one of a number of financial self help books: SPEND LESS THAN YOU EARN. Obviously no politician other than Ron Paul understands that extreamly complicated and diffucult to understand concept.

For some reason libertarians understand the concept of spending less than what you earn, but you people just can't figure that one out.

Your envy gene is overpowering your logic gene. Oh, I forgot, liberals don't have any logic. Now we're getting to the root of your problem.

BTW, I haven't read any of The Donalds books...have you?

Honest Abe says

Leo, advice given in self help books is "bullshit"? Really???

Here is a paraphrased piece of advice from any one of a number of financial self help books: SPEND LESS THAN YOU EARN.

Yes, I think that it is bullshit when self help books parrot commonsense.

Does it also say: "Buy low sell high!", "make wise investments", etc.?

That is not to say that there are not good books out there that have good advice/info on business, finance, etc., but I would not call these books "self-help". I seriously doubt any "self-help" book marketed as "how to get rich" has much in the way of useful information. These books just prey on the naive and greedy. Books like "The Secret" come to mind.

Honest Abe says

BTW, I haven't read any of The Donalds books...have you?

Not cover to cover. Skimming and spot-reading were enough to let me know that I have no interest in investing my time in reading Trumps' books.

Honest Abe says

Leo, advice given in self help books is "bullshit"? Really???

Yes.

Start Here:
http://www.johntreed.com/Kiyosaki.html

Then Here:
http://www.randomhouse.com/crown/Sham/

The great hoot of them all is Napoleon Hill. It's packed with early 20th century eugenics, and the impressive sounding technical terms from the "Wireless" era - just like Self-help authors like to use a lot of "internet-y" words today. In his day, Madam Blavatsky (SP?) and "Spritualism" was big, whereas in today's Self-help BS books you get a lot of Pali and Hindu terms.

Transmorgify yourself to create riches!

Ben Franklin wrote also, and he showed by his own life the wisdom of his advice.
He was admired, rich, accomplished, retired early and went to France to get chicks.
"Beware of little expenses. A small leak will sink a great ship."
"Beware the hobby that eats." :)
"Employ thy time well, if thou meanest to gain leisure."
"Gain may be temporary and uncertain; but ever while you live, expense is constant and certain: and it is easier to build two chimneys than to keep one in fuel."
"He that displays too often his wife and his wallet is in danger of having both of them borrowed."
"He that lives upon hope will die fasting."

How to buy happiness:

http://www.ted.com/talks/michael_norton_how_to_buy_happiness.html

clambo says

Ben Franklin wrote also, and he showed by his own life the wisdom of his advice.
He was admired, rich, accomplished, retired early and went to France to get chicks.

Here you go:
http://www.barnesandnoble.com/w/way-to-wealth-benjamin-franklin/1100081080?ean=9781451528084

Please let me know when you make you first billion by following the advice in this book. It should be easy as baking a cake.

leoj707 says

Please let me know when you make you first billion by following the advice in this book. It should be easy as baking a cake.

Who knew you could become rich by being an apprentice cooper? Lots of money in wooden barrels.
clambo says

Ben Franklin wrote also, and he showed by his own life the wisdom of his advice.

He also didn't follow his own advice very much.

Franklin was famous for partying until the early dawn, and feasting a great deal. Even joined a hellfire club.

No nation was ever ruined by trade.

Our necessities never equal our wants.

Rather go to bed with out dinner than to rise in debt.

Rebellion against tyrants is obedience to God.

Remember that credit is money.

The Constitution only gives people the right to pursue happiness. You have to catch it yourself.

There are three faithful friends - an old wife, an old dog, and ready money.

There are two ways of being happy: We must either diminish our wants or augment our means - either may do - the result is the same and it is for each man to decide for himself and to do that which happens to be easier.

Ben Franklin was what we would undoubtedly today would call a very successful guy.
Not only was he successful, he was admired. He was a statesman, a scientist, a businessman, and got French chicks when he could afford to lead his life of leisure.

If you desire many things, many things will seem few.

If you know how to spend less than you get, you have the philosopher's stone.

If you would know the value of money, go and try to borrow some.

In general, mankind, since the improvement of cookery, eats twice as much as nature requires.

It is the eye of other people that ruin us. If I were blind I would want, neither fine clothes, fine houses or fine furniture.

Money has never made man happy, nor will it, there is nothing in its nature to produce happiness. The more of it one has the more one wants.

He that can have patience can have what he will.

I guess I don't so much mind being old, as I mind being fat and old.

I saw few die of hunger; of eating, a hundred thousand.

clambo, Right on! I'm going to make a note of your comments, very astute!

And how about this: "You are rich when you are satisfied with what you have".

And this: "A small house can hold as much love as a big house".

Finally this: "Never look into another mans pocket".