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There are plenty of wealthy people (mainly inherited) who became poor after bad investments. But, obviously if you have significant amounts of capital, it's ha
by charlesdm 11y ago
There are plenty of wealthy people (mainly inherited) who became poor after bad investments.
But, obviously if you have significant amounts of capital, it's harder to lose it all.
- PythonicAlpha 11y agoYou can always find examples for all sides. But it is just a statistical fact, that moving up from being really poor today has become much more difficult than it was decades before, maybe with the exemption of being a computer scientists (but also there it is not so easy for a normally gifted person to finish studies and so on without help from the parents).
- jack-r-abbit 11y agoAlso plenty of wealthy people that completely earned their money themselves but still ended up poor once the fat pay checks stopped coming. Athletes and musicians are probably the most obvious examples.
- JoeAltmaier 11y agoBut if the paychecks don't stop coming, then nobody is poor. And suffering is alleviated.
- charlesdm 11y agoThen they didn't build wealth, they generated income.