I am no expert on wealth because I am not wealthy but there are some truisms about the wealthy which I believe are true.
There are basically those who achieve wealth in their lifetime, those who inherit wealth, and most of us who have no hope of ever getting wealthy.
Those who inherit wealth may add to it but frequently a youth of luxury without hard work and learning useful skills in life leads to profligate spending as adults, shallow personalities, and many experience bankruptcy or a tragic life of failed relationships frequently accompanied by heavy use of alcohol and drugs.
Having too much free time on your hands and associating with bad humans who want the wealth which you have frequently leads to dysfunctional lifestyles for those who inherit wealth and have never really learned how to increase it or earn more wealth.
Those who earn great wealth are frequently interesting humans who have come from very poor or middle class families and have struggled to make it big. Some actually lose their wealth sometimes more than once taking on big risks but somehow manage to come back and earn much more wealth than the average citizen is capable of. A useful education, hard work, determination, taking occasional big risks, and the right social connections are frequently what makes self- made humans highly successful and wealthy in life.
In the past with a steadily growing economy it was possible to gain money or wealth steadily with relatively conservative investments of about 6% and become a millionaire at retirement age. Today with banks paying almost no interest on savings accounts, stocks being an uncertain investment in the long duration due to large corporations with minimal growth, with inflation eating away at the value of saved money, and little opportunity for small businesses to thrive, the common citizen has little chance of accumulating wealth during a lifetime and many decide to spend everything which they earn and live from paycheck to paycheck.
The wealth of the US is greatly decreasing with ever larger debt annually and many private citizens are also in great debt causing a precipitous decrease in the middle class as the rich get richer and almost everyone else is getting poorer and poorer.
The bad financial system of the nation which does not encourage thriftiness or conservative investments has created a system where getting wealthy is increasingly impossible for the average citizen. The emphasis on short term financial investment is threatening the very foundations of a long duration healthy economy.
Those who control almost all the wealth in the world are the international banks, international corporations, and billionaires who with the help of special interest legislation and laws are all getting wealthier at the expense of the middle class and the poor who are either working or are on welfare and buy goods and services promoting the rich.
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