Self Made

[imoldernu]

Am certain that most of us wonder about retirement success. I missed this last year, but thought it might be an interesting "AHA!" moment for young dreamers.

Forbes list of the very wealthy and how they got there.
The New Forbes 400 Self-Made Score: From Silver Spooners To Bootstrappers - Forbes

There are several more linked articles about more recent self made wealthy individuals, who were bootstrappers.

 

[ERD50]

I found this interesting, I think many would be surprised by it:

We also did the analysis for every 10 years going back to 1984. Looking at the numbers over time, the data lead us to an interesting insight: in 1984, less than half of people on The Forbes 400 were self-made; today, 69% of the 400 created their own fortunes.

-ERD50

 

[dallas27]

I think it would probably be harder to maintain wealth given to me than wealth i earned.

Hell, if i won 100,000 dollars today, i'd probably buy something nice. But if i earned a 100k bonus for a awesome quarter, i'd squirrel it all away.


Sent from my iPhone using Early Retirement Forum

 

[Travelwanted]

What we obtain too cheap, we esteem too lightly
-Thomas Paine

 

[Bamaman]

I've always been a car guy--in spirit and as a profession.

I found myself earlier this year with the spare cash to buy a couple of new Ferrari's. Then I realized that if I stepped out and bought one, God would find a way for me to wrap it around a telephone pole.

We all have our place in this world. And the Ferrari World is not my place to be.

 

[zerogravity]

30 years ago when I was starting out I looked at a similar list and noticed that many of the self made "people" had made their fortunes in very tangible professions such as Plumbing, manufacturing etc... Today's list is so different. Computer science skills are a must have for today's young dreamers.

 

[explanade]

Those people are the .01 percenters. They beat the odds because social mobility is less now than it was some decades ago.

A lot of them may be tech entrepreneurs but for every Zuckerberg, there must be hundreds or thousands of tech entrepreneurs who don't become ultra rich.

 

[someguy]

IQ is the new family name. Though of course IQ is highly heritable