Question for the wealthiest 10%... how?

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  • mark78_2
    mark78_2 Posts: 11 Forumite
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    Glen_Clark wrote: »
    At best its only a guess because so much wealth is a closely guarded secret.
    But consider one (i.e The Royal Family - Some of their cars cost over £10 million apiece.) has the wealth of thousands of those who has earned a few million.

    You certainly don't get seriously rich just by hard work.

    I am not rich by a long way but I get by reading your posts you really resent not being given money. Is that not the opposite of what this site is for. You moan about people inheriting so much it would be easy to conclude you were left out of a will.
  • greenface
    greenface Posts: 4,871 Forumite
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    Does this include debt ?
    cepheus wrote: »
    I doubt if that is the case, here is a wealth distribution for households which shows how it is concentrated in pensions and property, as well as the top 10%

    wealth.jpg
    :cool: hard as nails on the internet . wimp in the real world :cool:
  • Glen_Clark
    Glen_Clark Posts: 4,397 Forumite
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    mark78 wrote: »
    I am not rich by a long way but I get by reading your posts you really resent not being given money. Is that not the opposite of what this site is for. You moan about people inheriting so much it would be easy to conclude you were left out of a will.

    ad hominen
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
  • cepheus
    cepheus Posts: 20,053 Forumite
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    greenface wrote: »
    Does this include debt ?

    since it uses the word 'net' I guess yes. Since most peoples debts are measured in thousands (after allowing for the value of property) and this scale goes to millions, it won't show the debt problems of that bottom tenth.
  • cepheus
    cepheus Posts: 20,053 Forumite
    edited 15 January 2013 at 9:06AM
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    trailingspouse wrote: »
    Fascinating question. Everytime I hear people saying we should tax the wealthy more, I feel like shouting No! Don't tax them! Get them to run seminars to tell the rest of us how to do it!!

    How to get rich

    1) run a seminar and other 'get rich scheme' advice and charge for it. The poor naive sods will only discover it is worthless 10 years down the road and by then you will have filled your pockets.

    2) Another way is to run a very risky venture using borrowed money or a limited liability company, chances are you will go broke but you won't be any worse off, then start up again and again until it works, leaving more honest companies in debt.

    3) Do something illegal like drugs or a scam, crime usually pays.

    4) Marry it.

    5) Inherit it.

    6) Have some brains, a bit of luck and a lot of personality, like Martin Lewis.

    Alternatively, you could follow his advice. You may not get rich but it should avoid poverty.
  • Glen_Clark
    Glen_Clark Posts: 4,397 Forumite
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    cepheus wrote: »
    How to get rich

    1) run a seminar and other 'get rich scheme' advice and charge for it.

    Yep, become a Financial Adviser/Stockbroker/Fund Manager and gamble with other people's money. They take all the risk, and you still get paid whether they win or lose.
    Just keep telling them to buy this or sell that. Doesn't matter which as you make money either way.
    Look at Hargreaves and Lansdown.
    Started in a spare bedroom 30 years ago.
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
  • MarcoM
    MarcoM Posts: 799 Forumite
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    Glen_Clark wrote: »
    Yep, become a Financial Adviser/Stockbroker/Fund Manager and gamble with other people's money. They take all the risk, and you still get paid whether they win or lose.
    Just keep telling them to buy this or sell that. Doesn't matter which as you make money either way.
    Look at Hargreaves and Lansdown.
    Started in a spare bedroom 30 years ago.


    Or be a socialist and be bitter for the rest of your life, expecting the state to bail you out at all times with no responsibility for yourself....
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
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    grey_gym_sock wrote: »
    why can't everybody be rich?

    BTW, this stage of development is called "post scarcity". Basically, everyone has enough of everything and ceases to really care about money.

    Think of Star Trek humanity or Iain M Banks' "Culture".
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • talexuser
    talexuser Posts: 3,499 Forumite
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    We've had the Queen, Richard Branson (whose wealthy father bailed him out) and Alan Sugar as the example of someone who built up from nothing. Let's remember in light of cepheus point 3 that Amstrad started out selling speakers with plastic diffraction vanes where a tweeter would be but no drive unit underneath, and cassette decks with a dolby button but no dolby circuit inside! ;)
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
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    The thread title mentions the top 10%, who are probably HNWIs but in a way that many people can achieve through hard work. However, much of the discussion is regards UHNWIs, which most (all?) of us could only achieve via a big lottery win, which is difficult for me as I've never bought a ticket!
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
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