What is Digg?168 Comments
- RadicalEdward, on 01/08/2008, -1/+616. Split up every tiny article you write on to multiple pages for more ad views.
- Waskonator, on 01/08/2008, -3/+46Don't smoke what you sell.
- bigtizzle, on 01/08/2008, -2/+40I see what you're saying, but they sort of answered that at the beginning of the article. Having the money (for them) isn't about how much stuff you can buy with it. It's about knowing that you can make life decisions without having to factor money into the equation, because you know it's there. Quitting a job you hate, for example, or just deciding one day that a week in Maui sure would do some good. I envy that kind of freedom, and I hope to have it someday. Too bad I'm such a ***** layabout. . .
- weiwuwei, on 01/08/2008, -3/+392. Educate yourself...live below your means...invest part of your salary
- sherrife, on 01/08/2008, -33/+60Secret # 1-5: Exploit everyone else.
- dlcarter, on 01/08/2008, -5/+27It's easy to think the rich are scumbags because they have a lot of money. The truth is that there are a lot of millionaires who get rich with simple hard work. But it's popular to hate the rich, I guess.
- inlovingmemory, on 01/08/2008, -5/+26To be honest it can be down to plain luck.
People like Paris Hilton and the likes don't deserve to be rich compared to some hardworking insignificant people. - inactive, on 01/08/2008, -4/+25Having a million dollars is the fastest way to become a millionaire.
- mustbepatient, on 01/08/2008, -2/+21Did you read the article at all? All of the people interviewed made money because they are helping other people and getting compensated for it. I don't think you have any idea what you are talking about.
- khail250, on 01/08/2008, -7/+25invest in haliburton when republicans are in office
- mpete510, on 01/08/2008, -5/+22Give them nothing... but take from them... EVERYTHING!
- inactive, on 01/08/2008, -1/+18I have the secrets to buying homes for pennies on the dollar, all you need is my tape, please send 3 easy payments of $29.99 to this address
- holyskeleton, on 01/08/2008, -10/+271. ***** two pages
2. Submit to Digg
3. ???
4. Profit! - wiifm69, on 01/08/2008, -17/+31and one ponders "what is the point of being rich if one never spends ones money"
- drpaidout, on 01/08/2008, -3/+17Why the negativity towards 'wealthy' people everyone? (not referring to the facetious comments of course)
First, it seems like being a millionaire these days doesn't seem that difficult ... secondly, most of the stuff in the article is just COMMON SENSE. I mean der, don't spend more than you earn - gee that was tough to figure out. Finally, achieving a solid financial foundation is important for happiness - not because it brings happiness, but it facilities what you might want to do in the future. You'd be an ultimate idealist (anti-realist) to not acknowledge that fact.
Oh, and by the way, not spending more than you earn doesn't mean you are scamming off everyone. You're just being an responsible individual in society - and not loading yourself up in debt that blows up developed economies (eg look at what US is at the moment) - PaulPinfield, on 01/08/2008, -4/+17Invest in lawyers when Democrats are in office...
- Wargalas, on 01/08/2008, -7/+20Tell me something, why does the wealthy NEED to give something back to society? Does society give something to them if their finances fail? If I invest my extra money and I strike it rich, tell me why I owe society more then the taxes I already pay? Are you going to cut me a check if my investment fails miserably? Didn't think so.
- tacroy, on 01/08/2008, -2/+15Actually thats probably one of the main reasons why most people will never be rich. They are convinced they can't do it and would rather attack people that are. Class warfare is self perpetuating.
- inactive, on 01/08/2008, -0/+12This whole idea of luck....you could wait for luck to kick in or you could just get up and make it happen. When you make it happen people will call you lucky, but in reality you just worked hard.
- TriviallyTravis, on 01/08/2008, -2/+14The one thing all of these people have in common is they all started their own businesses which took off eventually. Kind of worthless information for the folks out there whose jobs don't really lend themselves well to starting up a business.
- rockefeller2, on 01/08/2008, -1/+12RTFA!!! The happiness is through freedom to do what you want. It has nothing to do with amassing material possessions. Financial success brings freedom.
Oh ***** it, just keep slaving away at your job while your employer keeps making profits off of your work. - melondoc, on 01/08/2008, -3/+14Secret #1 = When opportunity knocks, don't go to wash your face: http://fridayreflections.typepad.com/weblog/2007/0 ...
Secret #2 Persistence Pays: http://fridayreflections.typepad.com/weblog/2007/1 ...
Secret #3 Keep on learning new skills: http://fridayreflections.typepad.com/weblog/2007/0 ...
Secret #4 You get what you expect: http://fridayreflections.typepad.com/weblog/2007/1 ...
Secret #5 Try something new: http://fridayreflections.typepad.com/weblog/2007/0 ... - inactive, on 01/08/2008, -0/+11There are a lot of insights spread out amongst the comments. Though I'm not a millionaire, hence probably not qualified to comment, from my observations of the many I do know the truest comments are: you need to have a good idea, then you need to slog your guts out to turn it into a success. I think the article is reasonably spot-on, but it requires another follow-up article that deals with a more fundamental fact: is becoming a millionaire worth it for *you*. Are you prepared to miss your brothers wedding as a last minute emergency cropped up at work? Does it matter to you that you haven't seen your kids in a month as you try and secure that investment you need? When you get screwed over by a supposed partner and your fortune after years of work vapourises, are you the kind of person that can shrug it off, roll up your sleeves, and build something even bigger and better?
It's not the life for a lot of people I know. The sacrifices are too great. It's also like playing high-stakes poker with your life. Sometimes you can do everything right but run into bad luck. Your sector turns negative just as you are trying to bring your product to market. A rival you didn't know about suddenly launches fractionally before you do. Many many things can happen.
I have one friend that could be a millionaire, and should have expanded his property portfolio extensively, but decided instead to be a home-husband and help his three kids grow up. He lives modestly and has no regrets. I know many others that have jobs they love, do their regular hours, and have happy home relationships and time to do their other passions (football, karting, paintballing, whatever).
So do you really want to be a millionaire? Or do you just like the *idea* of being a millionaire?
Phillip. - ConanTL, on 01/08/2008, -0/+10Family. Religion. Friendship. These are the three demons you must slay if you wish to succeed in business.
-Mr. Burns - republicker, on 01/08/2008, -1/+11I think you need a business model first. You don't just go from scrapyard worker to millionaire because you think about being rich.
- evilregis, on 01/08/2008, -1/+10Live like you make 10% less than you do. Invest it wisely.
- inactive, on 01/08/2008, -4/+13Treat your hos right. That way they wont get poached and they will always bring you ypur money
- Chompy, on 01/08/2008, -1/+10#6: Get a decent job, invest as much as possible, and don't buy useless consumer junk that you don't need. In a decade or two you will be a millionnaire. Don't have a good job? Get the necessary skills and get one. It's not going to happen without work.
- plizard, on 01/08/2008, -0/+86th Secret - they didn't have my wife
- LeRenard, on 01/08/2008, -3/+11So they are essentially saying be a type A personality. Half the millionaire's I've met (and being a Bus Admin major they used to trot them in all the time to gloat) are the most stressed out people I have met. Build a safety-net bank or investment account and don't touch it, live within your means, and be happy. You can open a trading account, money market account, or get a CD or bond with the price of an iPhone and actually have a profit in a year instead of yesterdays shiny object.. but once in awhile it's good to splurge too.
- Amazetbm, on 01/08/2008, -0/+8The title is "self-made millionares" As for as the topic is concerned, Paris doesn't count.
- bobbydiamondz, on 01/08/2008, -0/+7'Deserve' is the worst of the four letter words. Err, well it should be a four letter word.
- BuddyDoQ, on 01/08/2008, -6/+13This mindset of individuals being more or less "deserving" based on the merit of their birth right sickens me. If you feel you slighted by the conditions of your birth, why not work to change those conditions through the course of your life? Nobody forces you to take less money for harder work, just like nobody should be forced to give charity for what money they do have (a lot, or a little.)
- inactive, on 01/08/2008, -1/+8Responsibility is not hip. Anyone who exercises even a modicum of self control is not cool. Engaging in every whim is.
- skidooer, on 01/08/2008, -1/+8Educate yourself, yes. But the normal channels of education typically do not provide very good return on investment. In other words don't just blindly jump into college because everyone else is doing it. Make sure it really is the best investment you can make.
- PaulPinfield, on 01/08/2008, -1/+8The difference in these two posts is quite telling. I'm with Wargalas...
- ElBoss, on 01/08/2008, -0/+7I don't think this article distils the reasons why people become rich in a very clear way.
If you don't want to rely on luck (winning the lottery, rich relatives leaving you money) or something illegal (rob a bank, commit fraud) then the way to become rich comes down to one thing.
You have to be in the habit of collecting assets which generate income. Those can be businesses, property, stocks, bonds etc. All self made rich people follow this pattern. - karmakanic, on 01/08/2008, -0/+6Exactly. My turning point happened one day in '98 when I figured out how much money people had made off of my ideas and efforts. I'm a pretty good engineer, and I have pretty good ideas - you may have even seen some of them in action if you've ever been to a hospital. I calculated that the total came to around $400M... ...and a week later was at the doctor talking about some Bad Thoughts and getting a prescription for Prozac. The Prozac didn't last long, because I also had a Good Thought: I'm going to stop making other people rich, and start making sure that I get my share. In 2000 I started a company with a friend, and we made just enough to break even. In 2003 we started another company, and a year later sold it for $6M (my cut was $750K) to a larger company where my salary was $160K/year. After two years of that, we started yet another company, and if all goes according to plan, we'll sell it for around $30M - and my cut will be around $3M. And after that, I'm going to start another company...
One of the nicest side effects was that after I quit the $160K job I took six months off. I went to Costa Rica for a week. Then I went to Hawaii and lived on the beach for a month. What did I do there? Believe it or not, I did not touch the ocean even once. I was on my lanai thinking about what I would do next.
Oh, and I've also given $10K to the ACLU, I gave $5K to Katrina victims, I gave $3K to tsunami victims, and I paid for all of my family to come to California and stay in a beach resort for five days to see me get married. It was the first time we'd all been together in a long, long time.
Am I rich? Definitely. Do I have $1M in assets? Naw. I live in an apartment, I drive a four year old car, I walk to work. Do I enjoy my life? You betcha. Is everything perfect? Nope. My younger son (25) is in jail because he fell into Meth Hell a few years back and couldn't/wouldn't climb back out, in spite of his mom and I paying for eight rehabs. (My other son graduated from college with honors, so my kids are a pretty mixed bag.)
The money gives me options, makes it possible to take nice vacations, allows me to give some to people who need my help, and yes, it gives me Stuff. How did it all happen? I stopped waiting for someone to give me money. I went out, worked hard, and good things happened. - inactive, on 01/08/2008, -0/+6I think you mean - don't get high on your own supply.
- jasonkolb, on 01/08/2008, -1/+7Reading the comments in this thread is really depressing. No wonder most of you are not millionaires--look at your attitude. I fit into the category described in this article, and I'm telling you that it is spot on. You're way overcomplicating things if you think otherwise. Not that it is easy, but it is simple, and it is achievable.
- N00F, on 01/08/2008, -1/+7We're all blinded by the 'Rock Star image' The real rich people know how to live well and keep their money.
- Kenzan, on 01/08/2008, -0/+5How to get rich:
Step one:
Stop constantly hitting the bong every hour while watching cartoons all day and eating bowl after bowl of lucky charms in your bathrobe. - inactive, on 01/08/2008, -2/+7Some of it is luck, most of it is working wayyy too much and putting yourself before everyone else.
- KraftDinner101, on 01/08/2008, -0/+5try again, maybe you'll get it "strait" when you RTFA
- pak314, on 01/08/2008, -0/+5You know the wallstreet bankers to who gambled away on subprime mortgages and made a ton of money. Now they are being bailed out by tax payers in the form of "loans." Then there are rich people and corporations that somehow manage to get farm subsidies. Corporations are all about no personal liabilities. They are considered people for all the good stuff but when the going gets tough they can pop out of existance.
- Wargalas, on 01/08/2008, -2/+7But that's not what I'm talking about. I'm not talking about losing your ass on something, I'm talking about taking say 1,000 bucks and putting it in the stock market. Now if I lose the $1k, it's not going to break me, but dildoolielly seems to think that if I make it big, I somehow owe society something. when I make my money, I pay taxes on it. End of story. I'm not giving my money when I'm up simply because no one wants to give me money when I'm down.
- sonicEd, on 01/08/2008, -0/+4Give me an example. There are no jobs don't lend themselves to starting a business if it has worth.
- inactive, on 01/08/2008, -1/+5Please have some compassion for those on welfare. Who else is going to subsidize their lifestyle? I mean, it's not easy staying home watching Days of Our Lives while getting paid to do so!
- inactive, on 01/08/2008, -0/+4i don't think that's necessarily true - you can still invest in low risk funds and not suffer too badly during a crash. besides i believe lerenard specifically pointed out it was a safety net - ideally that would never be high risk otherwise it isn't going to be there when you need it.
it all depends on WHAT you invest in and lerenards message of saving then investing is a pretty universally wise one. -
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