Author: jackliu

topic:

How did successful people that aren’t celebrities or wellknown figures get to the position/financial position they are in? Did they take any financial risks?

know:
– stocks
– investments
– inheritence
– startups
– inventions
– lottery
– salary
– entreprenuers
– working 80 hour weeks
– saving money

want:
– want to know how exactly
– want to know their thinking in the moment
– did they wish they knew something they didn’t know at the moment, but know now?
– did they have plans/goals to make it to the level they are on
– was it longterm or shortterm?

learned:
– working for large corporations ( promotions by; hardwork, smart office politics, constant self-improvement, and powerful relationshio-building skills (social) )

** EXECUTIVES **

TAKES ABOUT 25 YEARS TO ACCUMULATE THEIR WEALTH!
– executives for companies (always includes bonuses, stock compensation)
stock compensation such as
– qualified stock options
– non qualified stock options
– stock rights
– restricted stock
– outright stock grants

** ENTREPRENUERS **

– individuals that started their own business. (accumulates the most wealth, avg $7.4 million over an average of 12 years.)
– highest risk, hardest path towards building wealth.
– 34% of selfmade millionaire entreprenuers have failed AT LEAST once in business (took a toll on families and their lives.)
– needs a significant upfront investment in time + money
– invests most or all of their time, money, and energy in something with no guarantee of success.
– doubt is constant.
– No peace of mind/drains confidence.
– develops new skills, acquires new knowledge, build relationshipos with other outstanding/successful-minded people.
– needs emotional control, long work hours, persistence, resilience, focus, and the ability to rebound from mistakes/failure/obstacles.

** SAVER INVESTORS **
~ ordinary people with no special advantages
– didnt grow up rich
– no high salaries
– no unique or advanced set of skills
– no special knowledge
– no advanced degrees or graduated from elite universities
– no inheritence AT ALL
– modest lifestyle, (no expensive/fancy homes, cars, clothes.)
– average $3.3 million in 32 years

these people do not advertise their wealth, they look normal, and you wouldn’t know their rich by looking at them.
most easy and guaranteed path to wealth.

Something I’m interested in and curious in, is how are some people so rich? What have they done with their life and what did their family and ancestors do to be in the financial status they’re at now? Did they own a business? Did they win the lottery? Did they invest in stocks or something and got super lucky? How does someone get out of the ordinary 9-5 job? What did they do and what’s their story on how they achieved what they have financially. I’ve always been fasincated with inventions, ideas, and money. I like to learn about people’s experiences and their story. I believe everyone has a unique story that you can’t replicate yourself, but you can learn and apply some knowledge into your own story.