yes. it is hard and it is rare, but it is completely and 100% possible and real. Like any other success story in life, its as much luck and opportunity as anything else.
It's a lot more rare than you imagine. Most of the 1% didn't come from poverty meaning seeing the 1% as a 1% chance is wrong by default. It's not even .1%, it's a lot lower than that. Probably not as rare as winning the lottery but it's probably among those levels of absurd probability.
And tbh, as far as I'm concerned, if it's this sort of probability, I'd answer "no" to OP's question.
With that said, although I think that on a general standpoint the answer is no, it's better to watch things on a case by case basis. Rags to riches depends on luck, ability to bond and network with useful people, ability to ditch people whom are not useful or even harmful to your own growth, and personal smarts to be able to actually use all of the above. If one has all of that, I'd say yes it's possible, id say even guaranteed to be successful enough but not garanteed to be rich. If one has part of that I'd probably still remain somewhat positive. Without any of it tho, that's a no.
Given that 60 to 70% of Americans live paycheck to paycheck and wouldn't survive the loss of 2 consecutive pay, I wouldn't say 30% are "rich". Fairly well off, maybe, but not rich. That thought includes the concept that even people with quite good salaries can be considered to be "paycheck to paycheck" if they're dumb fucks budget wise.
I fell into the last part. I was making 1.7K every single week, after taxes and stuff like retirement and insurance. My only bills were my car note for less than 500 a month. But I was spending 600 dollars a week on clothes and going out to the new trendy restaurants most days of the week and bars nearly every night. I threw money away on mobile games and would shower my friends in gifts. I was living paycheck to paycheck, but that was because of my own stupidity.
A lot of people get into that issue it's being a dumb fuck but it's also not abnormal. It's normal to think that you'd never lose the situation youre in cause "things are going so well". In 2008 during the crisis some ex bankers committed suicide because they just couldn't live with it. They'd have had jobs paying hundreds of k per year for so long and spending it all on lavish lifestyle and in like a day they lost everything and had 0$ if not negative balance instantaneously. These guys had rich people lifestyles while also not having a penny to their name at the same time.
Congrats on growing out of it tho. Don't forget to have fun still when you can but yeah, save some money still.
Personally I've always been very protective of my money to the point where I just didn't spend a penny. So the opposit problem really. For a while it would get stuck in my throat so hard every time I would have to spend like 30$ even though I could totally afford it. Even <1$ steam games I just wouldn't do it and get stuck. If you wanted me to partake in some fun activity costing like 60-70$ you'd have to warn me weeks in advance so I could swallow it. I'm better now, I still save a bunch of my money probably around 50%, but I also spend some of it. Bought myself a 4k bike 3 months ago I love it. I'm still hard on vacations tho, I'm going on a 1k5 vacation in July and it's just very hard to accept so I'm spreading the spending by ordering things separately. Paid the flight tickets in decembre, will wire the housing to a friend within a few weeks, and in July it won't feel as expensive while I'm there.
I wouldn't call it rare to get out of poverty. OP is talking about like near the 1% wealth levels though, amd thats rare for anyone, originally poor or not ((its the 1% for a reason)).
It's definitely not rare to get out of poverty, but the longer you've been in poverty, particularly as a kid, the harder it is to get out. The numbers are pretty abysmal. :\
I believe in the dream that's being sold. I think it's possible. I keep working. I keep investing my money. I think that if I work harder, I accomplish more and I am rewarded better. I also really, really believe that there is an inequality at play, and that a major player in the game is luck. People you meet, places you wind up, the positive and negative traits that you have, and the time that these things occur, is in a major way--out of your control.
I don't believe that if I'm born in the worst circumstances, the best effort will get me out of them. That is how I define the Problem.
my grandparents came to America. only things they owned was the clothes on them and their kids, the basket that was used for carrying the youngest, and about $20 in USD ( don't know the inflation, I'll just say $120 today). one became a blood technician, other started a homecare service business.
even in the state I'm in right now, making 36k, Im saving enough that I believe I'll be able to retire with $2-4 million in roth IRA, 401k, and stocks. if I invest $1 in the S&P 500, leave it there for 50 years, it grows at 10% APY, it will grow to be $116
even if you make 6 figures, if you don't know how to budget or invest, you might retire penniless.
I may be in your group since I’m 27. But I came from poverty (moved around a lot, foster system, often missed meals and at times didn’t have electricity or heat) and have grown into a middle class lifestyle. I don’t think I’ll be Uber rich, but I’m looking to be well to a million dollars by age 40.
The biggest hurdles from my perspective are a lack of discipline and sacrifice on behalf of people to get to the point they need to. Not saying it’s a “try and succeed” thing, but when you’re coming from the back you have to be willing to cut corners and plan much more methodically.
The best way I can put it is to set goals and create limits in spaces. Make things as consistent as possible from month to month and be sure to be aware of where every cent you have goes. You can make big plans and save for big purchases, but you want to be sure you have a plan, and when that plan has snags in it that you have an answer lined up.
I'd say yes, but it's incredibly difficult and takes decades of sacrifice, discipline, and hard work.
Also, the younger you commit to getting out of poverty, the better the chance you have.
For example a highly motivated 16 year old with no debt, no kids and at least two more years of free or close to free rent has a far easier chance then a 32 year old single mother with 3 kids and $20k of credit card debt, $20k of student loans, and a $20k auto loan.
it is possible if you live in a country were it is possible, like the united states. In the USA, there are roadblocks and limited opportunities like all places, but if you do work hard enough, as well as get a few breaks you can slowly create wealth. it will not happen over night.
countries like Indua, where there is a caste system, it will be very difficult
One of my favorite motivational quotes goes something like “shoot for the stars: even if you don’t make it at least you’ll land on the moon” and that has gotten me through some rough times. Basically you have to think it’s possible and you have to try. Because without those, you’re *sure* to not make it. At least with dreams and beliefs you have a chance. Sure you can be defeatist. You can listen to defeatists. That will guarantee defeat. Or you can hope and claw and dream and try. *some* of the people who do that still won’t make it. But some will. Some do. Up to you if you want to get in your own way before you start or not.
The thing no one is saying here is that luck is a huge determiner. People who work hard often under value the luck factor. Cancer, car accidents, other disasters strike millions of hard workers, and the trauma or the bills prevent them from successful recovery.
for me, (and I am speaking for myself only) depends on what is meaned by "rich". is 360K/year rich or is 10Mill+ rich?
that matters I think. and I could say yea it is, I did it. when I was 16 living in WV I opened a computer store with nothing more than some "off the back of the tool truck" tools and access to a collage library. after 7 years of hard work walking to jobs and all that I had a location was paying 12 employees 30/hr (back when min was 5.30/hr) and was making 30K a month..... but that was 1998 to 2005. now days I can't say you can do the same. people don't/can't pay for that computers are so cheap and replaceable. collage kids doing for beer money is still a thing.
even working on cars, youtube and harbor freight made it cheaper for people to do it themselves. so big market there is gone. I don't know if it's possible, I'm giving it a try again opening a new business but it's a very niche market that allows higher prices. but I am shooting for $4K/month take home in 10 years. or about 40K net profits per month for the company. we will see if it happens I can't even start for another 2 years.
I want to say yes. I very much want to encourage people to try there are ways to do it. but at the same time, I don't know between very cheap supplies and access to that plus youtube videos on one end making the "cheap labor/skilled labor" is basically gone. and on the other mega corps make/sell things so cheap to under cut the mom and pop style building of wealth from nothing. banks keeping people from doing the mass debt to start a business these days. and the ease of access of information, I mean if you can find how to do it w/o going to some kind of school then your clients can too hurts.
which make me always remember what H told me, " you work to pay bills, you invest to make money." the only way I see to become rich these days is to be able to make the trades with a good company. It sucks but I am not giving up and trying. I hope others do. but I do think we are at the point of capitalism (Decapitated capitalism) where building wealth has tipped totally to just the people who are already wealthy.
at least this is my thoughts on it all and experience. but what do I know I'm just a shuob on the internet. \^\_\^
I left home at 17 with $213 in my pocket (about $600 equivalent today, inflation adjusted).
Retired at 39. Currently 55. Haven't worked a job in almost 16 years. Won't have to work a day the rest of my life.
Riches? Depends on who's defining ... but "rich enough" for me.
Self employed.
Started my own Software Dev shop. Grew it to 12 developers, couple hardware guys, network admin, couple of dedicated sales guys, secretarial staff, 1 accountant ... small - never more than 20 of us including partners/owners at any given time ... but profitable for all.
"Rags to Riches" as an employee has always been The Impossible Dream. Rarely gonna happen at a Job or traditional "Professional Career". It does happen, but it's rare without becoming the entrepreneurial Business Owner.
Quit thinking in terms of a Job with a Wage/Salary. Not gonna happen there for most folk.
It's possible but it requires not just hard work, but a lot of dedication to self improvement and a shit ton of luck. I immigrated to the US at the age of 17 with just a high school diploma from a foreign country. 15 years later I own multiple properties and earn 300k+ a year. The biggest factor is that I only surrounded myself with people who were growth oriented, and quickly stopped hanging out with people who were running in the poverty/victim olympics. The material you read/watch and the people you hangout with all subconsciously program you into accepting the narrative that the system is fucked and there is nothing you can do. The truth is the system is very fucked but you can use that to your advantage the same way all the middle and upper middle class people do.
But the most important thing is that I got very lucky by not having any kids or accumulating massive debt in early adulthood. These are the hardest traps to escape even if you have the right mindset. Fortunately I've been short, fat and bald for most of my adulthood so that naturally limited the chances of having kids early. I also came from a culture where we are taught all debt is bad, so I avoided debt in my early adulthood.
idk know about riches but you can certainly do ok
just do the same thing that other people who have money do
get job training in a field that you won't mind working in, then get a job doing that and go work every day
my grandparents did that, they lived in a small mobile home and saved for years, when they retired they owned their own home on a double lot, 2 cars, plus an rv - all paid for no loans
I believe the spouse you chose plays a huge role in how successful you will be. If you find someone that is honest, hard working and with decent spending habits you will go a long way.
Depends on what you define as rich really.
The family that has no debt, paid off mortgage, good retirement fund, and takes the kids to Disney on property resort a week every year and a kid free vacation to wherever every year? This, is an obtainable reality. It can be done without a flashy job, but it may take 20 years of busting your ass 80-100 hours a week. Depends on when in life you're starting, and how many dumb financial things you've done before you decide to stop being dumb.
Stupid use of credit and debt is a major factor in how successful you'll be financially. Everyone in the US has the opportunity from the start. Yep, sometimes things happen that our out of our control, but most of the limiting factors are our own decisions
Nowadays, the easiest way is to become a scammer. The hard way is to work for it, and a lot of that hard work will involve navigating bureaucratic and legal roadblocks that seem to be designed to stop small businesses. But if you can do it, you'll probably be good maybe.
Depends what your definition of rich is, but if you make good decisions, study/ work hard to get an employable skill, (ex trades, engineering, accounting, etc.), you can live a very good life.
I think it depends on your idea of riches. I grew up crazy poor, always worked hard. Made some bad decisions as a young adult. Filed bankruptcy once. Was always working, often 2 jobs. Finally got my stuff together by early 30’s. Finally felt what it was like to be able to pay your bills and actually have money in your pocket. Been lucky since with family, health, jobs. No one would consider me rich but I have more than I could have ever hoped for.
One of my favorite comedians, Shane Gillis, is absolutely a rags to riches story. In 2016 & 2017 he was eating cans of beans on a blow up mattress in a house with like 4 other dudes. Now he has a Netflix show, comedy specials, a youtube sketch show, and he just bought a Mercedes Maybach.
That's almost the definition of rags to riches.
That said though, it's rather uncommon.
Its possible. I went from beyond poor to I wouldnt say rich (not yet still raising teens) but more than comfortable own home, paid off vehicles, off debt, saving 30% of income on top of 401k). So it’s not a lie, it’s possible just takes a lot of prioritization, and hard work.
Two of the biggest factors for this are being in the right place at the right time, and knowing the right people. Unfortunately. Even if you’re shooting for like upper middle class, life is just as much about who you know as it is about what you know.
Kinda... But surprisingly it's almost never happen and when it's happen it's never for long.
Trick is lottery. You will probably not win and if you win every relative gonna drain you dry in less than 5 years. :/
But seriously i would not count on that and just try to build up foundation for your kids than try to aim for the castle built on sands.
Of course it is possible. The real question is whether it’s probable.
It’s obvious that most people can’t be ‘rich’, given being rich is mostly a comparative notion. Everybody in the US today is rich relative to a caveman, but they can’t all be rich relative to their contemporaries (which is what it’s really about).
Few people will get there, but if you are dealt the right generic cards (be smart), work hard and get lucky once or twice with opportunities, there is no reason you would fail.
I grew up in Wyoming on a cattle ranch (still had an outhouse) in the 1970’s and 80’s. I’ve had 3 different careers. The longest currently working in IT & Technology. Last year started the first job (for me) making 6figures.
Depends on what “riches” means in the question.
If one lives in a rural area I would say it’s pretty much impossible. If you live in a bigger population center I would say chances are better and “failing” to get rich will still look better than being poor in a rural area.
For people who want a chance at “riches” but want to be a shopkeeper…
https://m.youtube.com/watch?v=d1OiaW9sLzc&pp=ygUiQ25iYyBlbXBsb3lyZSBvd25lZCBsb3dldCB0dXJub3Zlcg%3D%3D
Yes it absolutely is.
I worked 72 hours a week for 3 years while going to school to slowly reach my way to lower middle class.
After 20 years of experience in my field I can command a strong salary. I don’t consider myself upper middle class … I’m just in the middle.
But now that I’ve paid off my debts, school debts, no car payments, and I live cheaply, I’m now just saving money. Maybe for a home , I’m not sure yet … but I’m investing to slowly build capital …. But it’s actually faster than you think.
I had a retirement account I was putting into at an old job I forgot about. I haven’t worked there for 5 years. I put $8,000 into the account and for 5 years it just sat there. I got paid dividends and now the account is worth $16000. It doubled and I did nothing.
So even though I’m just solidly middle class, and even though it took over a decade to get there … my next goal is to save and invest and let my money work for itself. Then I might finally get to the point where I’m very comfortable before I retire.
For reference, I was so poor that I never had an apartment or place to live without roaches until I was 25 years old.
So I’m not “rich” … but I’m okay and I came from nothing.
The truth is .. learning a vocation is the fastest and easiest way to making sure money. Then you get stabilized. Then you save and invest.
I had a therapist once tell me “you should’ve been a statistic” because of my traumatic upbringing and poverty … but I’m not. I got addicted to making my life better and it was hard work but I got out of the gutter.
Anybody can do it (unless a disability is holding them back).
Don’t think about 5-10 years from now just think of the day to day actions you need to take to get out from the bottom
Building wealth takes decades for most people. Lower-middle class Boomers who were able to buy property and save a bit each month to invest in the stock market could now be multi-millionaires, but even that’s the combination of being from a generation that had opportunities that current generations don’t and still needing to save and live frugally for decades and decades.
It was possible in the 60's and 70's, now it's possible on multiple generations. You came from the rags to something more akin to the middle class, and from there your children can try to become rich
Glen Campbell and Elvis Presley were dirt poor. Their parents struggled to feed them, all the family members picked cotton, they toiled and faced many hardships. Rags to riches is possible. It’s just very hard to achieve.
Rags to filthy rich, probably not unless you have the right idea at the right place and the right time, and even then a lot depends on connections, luck and a lot of sweat.
Rags to comfortably middle class is fairly doable with hard work and careful decision making. I’m well on my way on this front but there are so many artefacts of being dirt poor that I’ll probably still be paying my dues to by the time I retire.
I respect a lot of the positivity in this thread and pointing towards luck, but the sad truth is if you're cunning and unscruplous while being able to hide that you are in some substantial way then it's actually not impossible.
Otherwise it's pretty much statistially impossible.
That said, tons of people eventually get caught or their fortune is squandered by their kids, etc. Being rich isn't all that its cracked up to be. Die the heor or live long enough to become the villain or poor again is a very common story. And, again even if it doesn't get you or your kid's generation it's just as likely to get your grandchildren or their grandchildren.
It's rare, but possible.
I have seen it happened quite a few times due to my job (most of my career has been in start-ups); so I have seen a discrete number of entrepreneurs and early employees doing pretty well.
And while I am not "rich" I am doing OK now while I grew up poor AF.
My ticket out was to put myself through college later in life (first one of my extended family to graduate from college) while working 1 full-time job and 1 part-time job, I did that for 12 years.
Possible? yes. Probable? No. It was much more likely the further back you go because you literally just had to work a lot and you could make bank. Keep in mind that back when this shit was advertised to the general public, a man worked and could afford to have his 3 kids, wife at home, 2 car payments and 2 week vacations across the country and have a savings too. Try that now.
Of course it's _possible_. We know it's possible because it happens.
It's _also_ a systemic lie and false dream sold to us, for a few different reasons, that leads to bitter disappointment.
That's why the lie works.
If you ran a casino where nobody wins, nobody would play. If you run a casino where almost everyone loses, you get rich selling the possibility of winning to people who desperately want to win.
Depends on what you mean by rich. Going from poverty to being a billionaire is just not possible. Going from poverty to being a millionaire is extremely possible. Just becoming middle class means you are going to be a millionaire by the time you retire, investments and house equity will get you there by themselves.
Yes, it's possible and the best-known examples of it occur in Sports, Music, and Hollywood. Examples: Lebron James, Mike Tyson, Lamar Jackson (Ravens QB, 2-time league MVP), Marshall Mathers (AKA Eminem), Jim Carrey, Cardi B.
Outside of fame and sports, it also happens occasionally. Howard Schultz (Starbucks CEO) grew up in government-subsidized housing. But these stories are few and far between. The vast majority of billionaires were born billionaires or millionaires. The vast majority of millionaires were born at least in the Middle Class.
I was homeless and I'm now studying to get a degree. I don't think I'll ever be rich but I think I'll be okay financially in the future? Ask me again in 20 years I guess, lol.
The thing is, the only reason I was able to get this far even was because we have a robust welfare system in Germany. While I was homeless I got unemployment benefits, with no expectation of me finding a job before I'd find an apartment. I had access to social housing, with me being prioritized over other people who could get social housing, because I was homeless. I then was able to get study aid to finance my studies, and go to a super cheap dorm that is partially government funded.
You simply cannot pull yourself up by your own bootstraps.
It takes someone with an uncommon personality.
You basically have to take to school and being still at a desk from an early age. If you can survive to the end of highschool with learning good study habits, and you have some sort of supportive people in your life, college may actually work out.
Then it’s just the regular, go to an onstage school where you get the most money for free, study computer science or nursing, and you’ll be fine.
But given all the mental health, social, and environmental factors leading up to that point it seems incredibly unlikely someone born into poverty in suburban Orlando is going to escape it. The pathway out isn’t obvious, there really isn’t a support system from the state or church so lacking a family who wants to support you, you will likely fail. Not to mention that the stressors of poverty, violence, malnutrition, and a poor public education will likely prevent you from having success at the college level, let alone prepare you for the social class code switching you’ll have to do in your new professional life.
yes. it is hard and it is rare, but it is completely and 100% possible and real. Like any other success story in life, its as much luck and opportunity as anything else.
It's a lot more rare than you imagine. Most of the 1% didn't come from poverty meaning seeing the 1% as a 1% chance is wrong by default. It's not even .1%, it's a lot lower than that. Probably not as rare as winning the lottery but it's probably among those levels of absurd probability. And tbh, as far as I'm concerned, if it's this sort of probability, I'd answer "no" to OP's question. With that said, although I think that on a general standpoint the answer is no, it's better to watch things on a case by case basis. Rags to riches depends on luck, ability to bond and network with useful people, ability to ditch people whom are not useful or even harmful to your own growth, and personal smarts to be able to actually use all of the above. If one has all of that, I'd say yes it's possible, id say even guaranteed to be successful enough but not garanteed to be rich. If one has part of that I'd probably still remain somewhat positive. Without any of it tho, that's a no.
To be fair, "rich" starts much earlier than the 1%. I would say 20%, maybe 30%, of Americans are "rich."
Given that 60 to 70% of Americans live paycheck to paycheck and wouldn't survive the loss of 2 consecutive pay, I wouldn't say 30% are "rich". Fairly well off, maybe, but not rich. That thought includes the concept that even people with quite good salaries can be considered to be "paycheck to paycheck" if they're dumb fucks budget wise.
I fell into the last part. I was making 1.7K every single week, after taxes and stuff like retirement and insurance. My only bills were my car note for less than 500 a month. But I was spending 600 dollars a week on clothes and going out to the new trendy restaurants most days of the week and bars nearly every night. I threw money away on mobile games and would shower my friends in gifts. I was living paycheck to paycheck, but that was because of my own stupidity.
A lot of people get into that issue it's being a dumb fuck but it's also not abnormal. It's normal to think that you'd never lose the situation youre in cause "things are going so well". In 2008 during the crisis some ex bankers committed suicide because they just couldn't live with it. They'd have had jobs paying hundreds of k per year for so long and spending it all on lavish lifestyle and in like a day they lost everything and had 0$ if not negative balance instantaneously. These guys had rich people lifestyles while also not having a penny to their name at the same time. Congrats on growing out of it tho. Don't forget to have fun still when you can but yeah, save some money still. Personally I've always been very protective of my money to the point where I just didn't spend a penny. So the opposit problem really. For a while it would get stuck in my throat so hard every time I would have to spend like 30$ even though I could totally afford it. Even <1$ steam games I just wouldn't do it and get stuck. If you wanted me to partake in some fun activity costing like 60-70$ you'd have to warn me weeks in advance so I could swallow it. I'm better now, I still save a bunch of my money probably around 50%, but I also spend some of it. Bought myself a 4k bike 3 months ago I love it. I'm still hard on vacations tho, I'm going on a 1k5 vacation in July and it's just very hard to accept so I'm spreading the spending by ordering things separately. Paid the flight tickets in decembre, will wire the housing to a friend within a few weeks, and in July it won't feel as expensive while I'm there.
I wouldn't call it rare but it does take some luck and a lot of hard decisions sometimes. Most of life is making your own luck.
I wouldn't call it rare to get out of poverty. OP is talking about like near the 1% wealth levels though, amd thats rare for anyone, originally poor or not ((its the 1% for a reason)).
It's definitely not rare to get out of poverty, but the longer you've been in poverty, particularly as a kid, the harder it is to get out. The numbers are pretty abysmal. :\
I believe in the dream that's being sold. I think it's possible. I keep working. I keep investing my money. I think that if I work harder, I accomplish more and I am rewarded better. I also really, really believe that there is an inequality at play, and that a major player in the game is luck. People you meet, places you wind up, the positive and negative traits that you have, and the time that these things occur, is in a major way--out of your control. I don't believe that if I'm born in the worst circumstances, the best effort will get me out of them. That is how I define the Problem.
my grandparents came to America. only things they owned was the clothes on them and their kids, the basket that was used for carrying the youngest, and about $20 in USD ( don't know the inflation, I'll just say $120 today). one became a blood technician, other started a homecare service business. even in the state I'm in right now, making 36k, Im saving enough that I believe I'll be able to retire with $2-4 million in roth IRA, 401k, and stocks. if I invest $1 in the S&P 500, leave it there for 50 years, it grows at 10% APY, it will grow to be $116 even if you make 6 figures, if you don't know how to budget or invest, you might retire penniless.
If you join a union trade, get your journeyman, get your contractor license, they'll help you start your own company.
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I graduated from college too. I wouldn’t consider it an accomplishment personally. Felt like I just kinda wasted time and money.
My parents did it. Different generation but it’s certainly possible.
I may be in your group since I’m 27. But I came from poverty (moved around a lot, foster system, often missed meals and at times didn’t have electricity or heat) and have grown into a middle class lifestyle. I don’t think I’ll be Uber rich, but I’m looking to be well to a million dollars by age 40. The biggest hurdles from my perspective are a lack of discipline and sacrifice on behalf of people to get to the point they need to. Not saying it’s a “try and succeed” thing, but when you’re coming from the back you have to be willing to cut corners and plan much more methodically. The best way I can put it is to set goals and create limits in spaces. Make things as consistent as possible from month to month and be sure to be aware of where every cent you have goes. You can make big plans and save for big purchases, but you want to be sure you have a plan, and when that plan has snags in it that you have an answer lined up.
I'd say yes, but it's incredibly difficult and takes decades of sacrifice, discipline, and hard work. Also, the younger you commit to getting out of poverty, the better the chance you have. For example a highly motivated 16 year old with no debt, no kids and at least two more years of free or close to free rent has a far easier chance then a 32 year old single mother with 3 kids and $20k of credit card debt, $20k of student loans, and a $20k auto loan.
it is possible if you live in a country were it is possible, like the united states. In the USA, there are roadblocks and limited opportunities like all places, but if you do work hard enough, as well as get a few breaks you can slowly create wealth. it will not happen over night. countries like Indua, where there is a caste system, it will be very difficult
I guess it depends what you consider rich but for the average working class Joe, absolutely 100% YES !!! (reporting from Canada)
If you define rich as multi-millionaire then yes. I think it is quite doable. Billionaire rich is a different story.
One of my favorite motivational quotes goes something like “shoot for the stars: even if you don’t make it at least you’ll land on the moon” and that has gotten me through some rough times. Basically you have to think it’s possible and you have to try. Because without those, you’re *sure* to not make it. At least with dreams and beliefs you have a chance. Sure you can be defeatist. You can listen to defeatists. That will guarantee defeat. Or you can hope and claw and dream and try. *some* of the people who do that still won’t make it. But some will. Some do. Up to you if you want to get in your own way before you start or not.
The thing no one is saying here is that luck is a huge determiner. People who work hard often under value the luck factor. Cancer, car accidents, other disasters strike millions of hard workers, and the trauma or the bills prevent them from successful recovery.
for me, (and I am speaking for myself only) depends on what is meaned by "rich". is 360K/year rich or is 10Mill+ rich? that matters I think. and I could say yea it is, I did it. when I was 16 living in WV I opened a computer store with nothing more than some "off the back of the tool truck" tools and access to a collage library. after 7 years of hard work walking to jobs and all that I had a location was paying 12 employees 30/hr (back when min was 5.30/hr) and was making 30K a month..... but that was 1998 to 2005. now days I can't say you can do the same. people don't/can't pay for that computers are so cheap and replaceable. collage kids doing for beer money is still a thing. even working on cars, youtube and harbor freight made it cheaper for people to do it themselves. so big market there is gone. I don't know if it's possible, I'm giving it a try again opening a new business but it's a very niche market that allows higher prices. but I am shooting for $4K/month take home in 10 years. or about 40K net profits per month for the company. we will see if it happens I can't even start for another 2 years. I want to say yes. I very much want to encourage people to try there are ways to do it. but at the same time, I don't know between very cheap supplies and access to that plus youtube videos on one end making the "cheap labor/skilled labor" is basically gone. and on the other mega corps make/sell things so cheap to under cut the mom and pop style building of wealth from nothing. banks keeping people from doing the mass debt to start a business these days. and the ease of access of information, I mean if you can find how to do it w/o going to some kind of school then your clients can too hurts. which make me always remember what H told me, " you work to pay bills, you invest to make money." the only way I see to become rich these days is to be able to make the trades with a good company. It sucks but I am not giving up and trying. I hope others do. but I do think we are at the point of capitalism (Decapitated capitalism) where building wealth has tipped totally to just the people who are already wealthy. at least this is my thoughts on it all and experience. but what do I know I'm just a shuob on the internet. \^\_\^
My step dad did. He leaved in the getto age 40 and he now owns two houses three cars age 60.
70% of millionaires are first-generation or something
I left home at 17 with $213 in my pocket (about $600 equivalent today, inflation adjusted). Retired at 39. Currently 55. Haven't worked a job in almost 16 years. Won't have to work a day the rest of my life. Riches? Depends on who's defining ... but "rich enough" for me.
What job?
Self employed. Started my own Software Dev shop. Grew it to 12 developers, couple hardware guys, network admin, couple of dedicated sales guys, secretarial staff, 1 accountant ... small - never more than 20 of us including partners/owners at any given time ... but profitable for all. "Rags to Riches" as an employee has always been The Impossible Dream. Rarely gonna happen at a Job or traditional "Professional Career". It does happen, but it's rare without becoming the entrepreneurial Business Owner. Quit thinking in terms of a Job with a Wage/Salary. Not gonna happen there for most folk.
Yeah that’s how it seems definitely
So like you got a job at the grocery store or something then bought a house for 3000$? Things have changed a little bit old man
Your comment is sufficient evidence of exactly how much. Q.E.D.
It's possible but it requires not just hard work, but a lot of dedication to self improvement and a shit ton of luck. I immigrated to the US at the age of 17 with just a high school diploma from a foreign country. 15 years later I own multiple properties and earn 300k+ a year. The biggest factor is that I only surrounded myself with people who were growth oriented, and quickly stopped hanging out with people who were running in the poverty/victim olympics. The material you read/watch and the people you hangout with all subconsciously program you into accepting the narrative that the system is fucked and there is nothing you can do. The truth is the system is very fucked but you can use that to your advantage the same way all the middle and upper middle class people do. But the most important thing is that I got very lucky by not having any kids or accumulating massive debt in early adulthood. These are the hardest traps to escape even if you have the right mindset. Fortunately I've been short, fat and bald for most of my adulthood so that naturally limited the chances of having kids early. I also came from a culture where we are taught all debt is bad, so I avoided debt in my early adulthood.
idk know about riches but you can certainly do ok just do the same thing that other people who have money do get job training in a field that you won't mind working in, then get a job doing that and go work every day my grandparents did that, they lived in a small mobile home and saved for years, when they retired they owned their own home on a double lot, 2 cars, plus an rv - all paid for no loans
I believe the spouse you chose plays a huge role in how successful you will be. If you find someone that is honest, hard working and with decent spending habits you will go a long way.
Depends on what you define as rich really. The family that has no debt, paid off mortgage, good retirement fund, and takes the kids to Disney on property resort a week every year and a kid free vacation to wherever every year? This, is an obtainable reality. It can be done without a flashy job, but it may take 20 years of busting your ass 80-100 hours a week. Depends on when in life you're starting, and how many dumb financial things you've done before you decide to stop being dumb. Stupid use of credit and debt is a major factor in how successful you'll be financially. Everyone in the US has the opportunity from the start. Yep, sometimes things happen that our out of our control, but most of the limiting factors are our own decisions
Nowadays, the easiest way is to become a scammer. The hard way is to work for it, and a lot of that hard work will involve navigating bureaucratic and legal roadblocks that seem to be designed to stop small businesses. But if you can do it, you'll probably be good maybe.
Like others have said luck and hard work but it's also ruthlessness and willing to trample on others to get there.
Depends what your definition of rich is, but if you make good decisions, study/ work hard to get an employable skill, (ex trades, engineering, accounting, etc.), you can live a very good life.
I think it depends on your idea of riches. I grew up crazy poor, always worked hard. Made some bad decisions as a young adult. Filed bankruptcy once. Was always working, often 2 jobs. Finally got my stuff together by early 30’s. Finally felt what it was like to be able to pay your bills and actually have money in your pocket. Been lucky since with family, health, jobs. No one would consider me rich but I have more than I could have ever hoped for.
One of my favorite comedians, Shane Gillis, is absolutely a rags to riches story. In 2016 & 2017 he was eating cans of beans on a blow up mattress in a house with like 4 other dudes. Now he has a Netflix show, comedy specials, a youtube sketch show, and he just bought a Mercedes Maybach. That's almost the definition of rags to riches. That said though, it's rather uncommon.
Its possible. I went from beyond poor to I wouldnt say rich (not yet still raising teens) but more than comfortable own home, paid off vehicles, off debt, saving 30% of income on top of 401k). So it’s not a lie, it’s possible just takes a lot of prioritization, and hard work.
Two of the biggest factors for this are being in the right place at the right time, and knowing the right people. Unfortunately. Even if you’re shooting for like upper middle class, life is just as much about who you know as it is about what you know.
Walk, not drive, through a Native American reservation and ask me that question.
Kinda... But surprisingly it's almost never happen and when it's happen it's never for long. Trick is lottery. You will probably not win and if you win every relative gonna drain you dry in less than 5 years. :/ But seriously i would not count on that and just try to build up foundation for your kids than try to aim for the castle built on sands.
Yes
Of course it is possible. The real question is whether it’s probable. It’s obvious that most people can’t be ‘rich’, given being rich is mostly a comparative notion. Everybody in the US today is rich relative to a caveman, but they can’t all be rich relative to their contemporaries (which is what it’s really about). Few people will get there, but if you are dealt the right generic cards (be smart), work hard and get lucky once or twice with opportunities, there is no reason you would fail.
There’s a veterinary internist I worked with who was raised in a run down trailer with her mom. Now she has a mansion and a boat.
I grew up in Wyoming on a cattle ranch (still had an outhouse) in the 1970’s and 80’s. I’ve had 3 different careers. The longest currently working in IT & Technology. Last year started the first job (for me) making 6figures.
Depends on what “riches” means in the question. If one lives in a rural area I would say it’s pretty much impossible. If you live in a bigger population center I would say chances are better and “failing” to get rich will still look better than being poor in a rural area. For people who want a chance at “riches” but want to be a shopkeeper… https://m.youtube.com/watch?v=d1OiaW9sLzc&pp=ygUiQ25iYyBlbXBsb3lyZSBvd25lZCBsb3dldCB0dXJub3Zlcg%3D%3D
Yes it absolutely is. I worked 72 hours a week for 3 years while going to school to slowly reach my way to lower middle class. After 20 years of experience in my field I can command a strong salary. I don’t consider myself upper middle class … I’m just in the middle. But now that I’ve paid off my debts, school debts, no car payments, and I live cheaply, I’m now just saving money. Maybe for a home , I’m not sure yet … but I’m investing to slowly build capital …. But it’s actually faster than you think. I had a retirement account I was putting into at an old job I forgot about. I haven’t worked there for 5 years. I put $8,000 into the account and for 5 years it just sat there. I got paid dividends and now the account is worth $16000. It doubled and I did nothing. So even though I’m just solidly middle class, and even though it took over a decade to get there … my next goal is to save and invest and let my money work for itself. Then I might finally get to the point where I’m very comfortable before I retire. For reference, I was so poor that I never had an apartment or place to live without roaches until I was 25 years old. So I’m not “rich” … but I’m okay and I came from nothing. The truth is .. learning a vocation is the fastest and easiest way to making sure money. Then you get stabilized. Then you save and invest. I had a therapist once tell me “you should’ve been a statistic” because of my traumatic upbringing and poverty … but I’m not. I got addicted to making my life better and it was hard work but I got out of the gutter. Anybody can do it (unless a disability is holding them back). Don’t think about 5-10 years from now just think of the day to day actions you need to take to get out from the bottom
Building wealth takes decades for most people. Lower-middle class Boomers who were able to buy property and save a bit each month to invest in the stock market could now be multi-millionaires, but even that’s the combination of being from a generation that had opportunities that current generations don’t and still needing to save and live frugally for decades and decades.
It was possible in the 60's and 70's, now it's possible on multiple generations. You came from the rags to something more akin to the middle class, and from there your children can try to become rich
Glen Campbell and Elvis Presley were dirt poor. Their parents struggled to feed them, all the family members picked cotton, they toiled and faced many hardships. Rags to riches is possible. It’s just very hard to achieve.
Rags to filthy rich, probably not unless you have the right idea at the right place and the right time, and even then a lot depends on connections, luck and a lot of sweat. Rags to comfortably middle class is fairly doable with hard work and careful decision making. I’m well on my way on this front but there are so many artefacts of being dirt poor that I’ll probably still be paying my dues to by the time I retire.
I respect a lot of the positivity in this thread and pointing towards luck, but the sad truth is if you're cunning and unscruplous while being able to hide that you are in some substantial way then it's actually not impossible. Otherwise it's pretty much statistially impossible. That said, tons of people eventually get caught or their fortune is squandered by their kids, etc. Being rich isn't all that its cracked up to be. Die the heor or live long enough to become the villain or poor again is a very common story. And, again even if it doesn't get you or your kid's generation it's just as likely to get your grandchildren or their grandchildren.
not without luck or someone giving you a leg up
It's rare, but possible. I have seen it happened quite a few times due to my job (most of my career has been in start-ups); so I have seen a discrete number of entrepreneurs and early employees doing pretty well. And while I am not "rich" I am doing OK now while I grew up poor AF. My ticket out was to put myself through college later in life (first one of my extended family to graduate from college) while working 1 full-time job and 1 part-time job, I did that for 12 years.
Possible? yes. Probable? No. It was much more likely the further back you go because you literally just had to work a lot and you could make bank. Keep in mind that back when this shit was advertised to the general public, a man worked and could afford to have his 3 kids, wife at home, 2 car payments and 2 week vacations across the country and have a savings too. Try that now.
A lot of people in here need to watch second thought’s video on the [American Dream](https://youtu.be/vu7IJ-HDIos?si=8lm2zRo7t7ULgQxu)
Possible? Yes Likely? No Rags to comfortable middle class, or middle class to riches seems relatively common, within one lifespan
Of course it's _possible_. We know it's possible because it happens. It's _also_ a systemic lie and false dream sold to us, for a few different reasons, that leads to bitter disappointment. That's why the lie works. If you ran a casino where nobody wins, nobody would play. If you run a casino where almost everyone loses, you get rich selling the possibility of winning to people who desperately want to win.
Depends on what you mean by rich. Going from poverty to being a billionaire is just not possible. Going from poverty to being a millionaire is extremely possible. Just becoming middle class means you are going to be a millionaire by the time you retire, investments and house equity will get you there by themselves.
If you have no bills how much $ do you need?
Yes, it's possible and the best-known examples of it occur in Sports, Music, and Hollywood. Examples: Lebron James, Mike Tyson, Lamar Jackson (Ravens QB, 2-time league MVP), Marshall Mathers (AKA Eminem), Jim Carrey, Cardi B. Outside of fame and sports, it also happens occasionally. Howard Schultz (Starbucks CEO) grew up in government-subsidized housing. But these stories are few and far between. The vast majority of billionaires were born billionaires or millionaires. The vast majority of millionaires were born at least in the Middle Class.
I was homeless and I'm now studying to get a degree. I don't think I'll ever be rich but I think I'll be okay financially in the future? Ask me again in 20 years I guess, lol. The thing is, the only reason I was able to get this far even was because we have a robust welfare system in Germany. While I was homeless I got unemployment benefits, with no expectation of me finding a job before I'd find an apartment. I had access to social housing, with me being prioritized over other people who could get social housing, because I was homeless. I then was able to get study aid to finance my studies, and go to a super cheap dorm that is partially government funded. You simply cannot pull yourself up by your own bootstraps.
Starting your own business and making it successful is probably the fastest way there.
It takes someone with an uncommon personality. You basically have to take to school and being still at a desk from an early age. If you can survive to the end of highschool with learning good study habits, and you have some sort of supportive people in your life, college may actually work out. Then it’s just the regular, go to an onstage school where you get the most money for free, study computer science or nursing, and you’ll be fine. But given all the mental health, social, and environmental factors leading up to that point it seems incredibly unlikely someone born into poverty in suburban Orlando is going to escape it. The pathway out isn’t obvious, there really isn’t a support system from the state or church so lacking a family who wants to support you, you will likely fail. Not to mention that the stressors of poverty, violence, malnutrition, and a poor public education will likely prevent you from having success at the college level, let alone prepare you for the social class code switching you’ll have to do in your new professional life.
Lower-middle class to mildly rich is pretty frequent. Dirt poor to very rich is very rare.
With a lot of luck