Poll:Self Made or Not Self Made

[jollystomper]

I would say not say "self-made"... if left to my own devices, I probably would be in a gutter somewhere or worse . Made through my parents, whom though barely making it to middle class, and in a challenging social environment, instilled hope and values in me and my siblings. Made through teachers, whom I realized that the better you did in class, the better they treated you and gave you opportunities. Made through observing friends through high school and college and noticing what lifestyle "paths" were were more likely to lead to success and which ones would more likely lead to tragedy. Made at Megacorp, where I learned that being a good listener, working both hard and smart, and treating everyone - even those you disagreed with" - with respect, gave you both more opportunities and more chances after you failed at something. And of course, made by marrying someone who had the same financial attitude and goals as me, so as our income salary grew did not focus on expanding our lifestyle but worked with me to save and trusted me in our investments.

I would say more "made through my trials and errors"... and learning from them to avoid repeating them as much as possible.

 

[gerntz]

Inheritance was ~10% of NW at the time.

 

[Senator]

This Meme sums up my self made or not life...

 

[GreenEggs]

Looking at the poll results it's obvious only a small minority have inherited substantial amounts. The rest have learned to achieve financial success through hard work and wise investing. Many of their fortunate heirs will find themselves in that small minority. Be sure to teach your children what you have learned about finances, because without passing along that knowledge they will likely have an expensive learning curve. Your success can either be the beginning of a legacy or it can be blown like a lottery winner on a jet-set shopping spree.

I'd suspect that most of the heirs here are trying to learn from successful people, like their parents and/or grandparents.

 

[dtbach]

Looking at the poll results it's obvious only a small minority have inherited substantial amounts. The rest have learned to achieve financial success through hard work and wise investing. Many of their fortunate heirs will find themselves in that small minority. Be sure to teach your children what you have learned about finances, because without passing along that knowledge they will likely have an expensive learning curve. Your success can either be the beginning of a legacy or it can be blown like a lottery winner on a jet-set shopping spree.

I'd suspect that most of the heirs here are trying to learn from successful people, like their parents and/or grandparents.

Well stated. Both of my DD's are aware that we are living well because of carefully planned (and hard work) got us to FIRE. I have told them that they will most likely inherit a nice sum but also want to start building their own foundation of wealth.

 

[MarieIG]

I was fine with the wording of the poll. I took it to mean did you earn your money; inherit, or both.

I did not equate self-made with living in a vacuum.

 

[Car-Guy]

Nobody is self made and all of us are self made. It all depends on your definition of the self and what you think “you” are

I guess it's sort of like someone once said "It Depends on what the meaning of the word is is."

 

[RxMan]

++1

Any situation that is available to anyone would not be considered 'luck'.

Being born in the USA, having good health, and a bunch of other 'luck' doesn't by itself make anyone rich in financial terms. There are plenty of poor people with that same luck, therefore by definition, it is not luck.

Maybe being able to sweat, and having a higher IQ than others might be the number one piece of luck. For some, testing the theory of gravity on the surface of a couch, is a lifetime ambition.

The harder I work the “luckier” I get.

 

[RobbieB]

Really? Back to luck again?

 

[MichaelB]

Thanks for an interesting discussion

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