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10 Reasons You Aren't Rich

thestreet.com — The reason why you aren't a millionaire (or on your way to becoming one) is really simple. You probably assume it's because you aren't earning enough money, but the truth is that for most people, whether or not you become a millionaire has very little to do with the amount of money you make. It's the way that you treat money in your daily life.

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  • zombiedepot, on 10/12/2007, -108/+28#11 The economy sucks.
    #12 The US dollar is dropping in value.
    #13 Gas prices are high.
    #14 You need itemized lists to point out the obvious.
    • implied, on 10/12/2007, -5/+31#1 I havent quite figured out how to market not being rich. I have plenty laying around.
    • guytoronto, on 10/12/2007, -7/+60#1 My lotto numbers haven't come up.
    • Lixie, on 10/12/2007, -13/+4721. Wasn't born rich.
      2. Didn't marry rich.
      3. Not a criminal even though it pays.
      4. Ignorant of tax loopholes to avoid most taxes.
      5. Didn't buy Microsoft stock in 80's.
      6. Didn't buy Google stock in the 90's.
      7. Didn't buy Apple stock in the 00's.
      8. Majored in Philosophy.
      9. Played in a funk band rather than an emo band.
      10. TiVo
    • lieutenantmudd, on 10/12/2007, -3/+95#1 What I love to do in life pays like crap
    • woojoo, on 10/12/2007, -7/+125#1: digg
    • negativefx, on 10/12/2007, -24/+40#1 you read digg too much

      edit: damn you woojoo
    • neuropsychguy, on 10/12/2007, -12/+88"6. Didn't buy Google stock in the 90's."

      That would have been a good trick! I think you reversed Apple and Google. You were supposed to buy Apple in the 90s and Google in the 00s.
    • Densetsu, on 10/12/2007, -4/+56#11. If everyone followed this get-rich list, everyone would be rich and you'd need some kind of get-*super*-rich list to actually be rich.
    • hackwrench, on 10/12/2007, -20/+101. I don't have any interest in supporting the systems that are in place that money plays a role in.
    • tr0n, on 10/12/2007, -3/+71#11. You don't have tons of adverts on your 10 Reasons... website like Me
    • foolfromhell, on 10/12/2007, -5/+15Yeah, Google had their IPO in 2004 I think...
      Also, is videogaming a "bad money-sucking habit"?
      Like $100/month on games + $2000/ 2-3 years on a computer?
    • BigglesPiP, on 10/12/2007, -12/+9No, gas (odd name for a flammable vapour) prices are low.

      We pay ~$6 a gallon here in the UK.
    • Renton, on 10/12/2007, -7/+33"#12 The US dollar is dropping in value."

      Then more people WOULD be millionaires.
    • retral, on 10/12/2007, -16/+3"Then more people WOULD be millionaires."

      ...
      *sigh*
    • drlog, on 10/12/2007, -3/+17"Also, is videogaming a "bad money-sucking habit"?"

      You also have to consider the amount of money you're losing whilst gaming - You could be working :P
    • brundlefly76, on 10/12/2007, -6/+3Actually the modern definition of a millionaire isnt someone who has come into a million dollars cash (before taxes), which is the common definition.

      The modern definition is someone who earns $1M *a year*.

      In this case, it is about how much you make, and the #1 reason most people arent rich is because they are not self-employed.

      In the list he mentions that statistically a savings account is riskier than other invesments which arent perceived as 'safe'.

      Well, the same goes for self-employment - statistically, by working for someone else you are losing your shirt compared to self-employment, which does not share the 95% '$120k' ceiling employment has.
    • betacmag4u, on 10/12/2007, -5/+32one of the top reasons is the cost of autos, the average car pmt in the USA is around 390/mo. invest that @ the average market return from the time you are 25-65 and you will have approx 4.5 million dollars......or you can roll on 22's in a car you can't afford and be the working poor all your life..........me I drive a paid for pickup, guess what I'm doing with my 390 a month?
    • Jo9100, on 10/12/2007, -7/+4A++ Good product, will do business again!

      Wait... we're not on ebay ebooks...
    • Comatose51, on 10/12/2007, -1/+16@Lixie: #3, #8, and #9 gained my respect, whatever that's worth to you. I used to work for a major hedge fund that had many very wealthy people and some of them are just slimey people. I'm not quite sure how much money a person needs to be happy but I don't want to be a millionaire. I'm happy being a programmer making a decent salary. I just want to work less and have more time.

      My #1 reason for not being a millionaire is because I don't have the motivation nor desire to. If doing what I love makes me a millionaire some day, great, but I doubt I would wake up that much happier every day.
    • Samsong, on 10/12/2007, -9/+3Yes, exactly! It's Bush's fault your not rich!
    • bugsy187, on 10/12/2007, -16/+12#11 Capitalism is effectively rigged.
    • returnofmalv, on 10/12/2007, -5/+4There are only two reasons: you're not evil and smart enough.
    • serpentor, on 10/12/2007, -4/+36. Didn't buy Google stock in the 90's.

      Google IPO'd in August of 2004, in one of the first ever dutch auctions, allowing everyone and anyone who bid to receive shares for $75 (I didn't..)
    • senorBojangles, on 10/12/2007, -2/+29I think the line from "Fight Club" should be on this list. To wit:
      "Advertising has us chasing cars and clothes, working jobs we hate so we can buy ***** we don't need. We're the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our Great War's a spiritual war... our Great Depression is our lives. We've all been raised on television to believe that one day we'd all be millionaires, and movie gods, and rock stars. But we won't. And we're slowly learning that fact. And we're very, very ***** off."
    • raindogmx, on 10/12/2007, -2/+3IS Jeffrey Strain -the author- rich?
    • katanna, on 10/12/2007, -6/+6#11: You haven't listened to Dave Ramsey.

      Matthew
    • zxof, on 10/12/2007, -3/+6#2 dating hot girls!
    • Chompy, on 10/12/2007, -3/+4I love how the end of the article includes a pitch for a moneysink subscription.

      "P.S. Important News--RealMoney Upgrade
      Take your investing to the next level with the kind of tools professionals use. Try RealMoney Silver free and you’ll be able to access five of TheStreet.com’s most popular services--Action Alerts PLUS, Stocks Under $10, Value Investor, Earnings Calls and RealMoney--which together can help grow and protect your portfolio regardless of market action. Get more details."
    • DonWilson, on 10/12/2007, -5/+22#11 You think you deserve it with little or no work.
    • bugsy187, on 10/12/2007, -4/+5@donwilson

      You mean like the children of the rich?
    • Muchocoffee, on 10/12/2007, -12/+2I thought these reasons were suck, so I came up with my own 10 reasons list.

      1 You like having sex.
      2 You like having sex.
      3 You like having sex.
      4 You like having sex.
      5 You like having sex.
      6 You like having sex.
      7 You like having sex.
      8 You like having sex.
      9 You like having sex.
      10 You frequent digg
    • daxsymbiont, on 10/12/2007, -5/+4#0 rich kids that were born to money roam the internet saying capitalism rewards hard work.
    • rholloway, on 10/12/2007, -2/+2@lixie

      I have to call you out on your list. Because, maaaaan, if you didn't buy Microsoft or Google, or wasn't born rich, doesn't mean you can't BE rich. And rich doesn't mean being a billionnaire--it means being happy with yourself and however you define comfort without slaving for some asshole. If you're smart, come up with an idea--you come here and deliver witty remarks, you're certainly not an idiot. Read a book. Talk to an accountant--chances are, you're already doing something that could get you all your tax money back each year. You could use that to start a small business and be on your way. The tax system is set up to reward two classes of people--those who contribute to building the economy and those who do nothing but drain from it. That's why the middle class gets stuck with the tax bill--they lay back, moan, and accept your 10 reasons as their fate. Then, they get angry and vote for populist politician who only ***** them harder.

      Laying back and calling anyone with ingenuity a "criminal" because of Enron, maaaaaan, if a defeatest point of view that only ensures that the rich get richer, the poor get poorer, and the middle class stays in the middle. Stop blaming the invisible boogeyman and get off your own ass.
    • KDX200rider, on 10/12/2007, -0/+111. You sit around around all day in your parent's basement reading and posting on Digg.
    • oscarsonthepond, on 10/12/2007, -1/+3"whether or not you become a millionaire has very little to do with the amount of money you make"

      To think...all these years I thought you did have to make money to become a millionaire.
    • Fhwqhgads, on 10/12/2007, -1/+1"whether or not you become a millionaire has very little to do with the amount of money you make"

      Dumbest statement ever. So becoming a millionaire doesn't involve making money? What?
    • covertbadger, on 10/12/2007, -0/+1@Fhwqhgads

      "Dumbest statement ever. So becoming a millionaire doesn't involve making money? What?"

      Sorry, but your statement is much dumber than the original. The article does not say what you think it does. The point is that someone earning $200K a year and spending it all is not rich, and never will be. Someone earning $50K a year and using their money sensibly can quite easily become rich. Until you understand the difference, you will be incapable of becoming rich. Enjoy cleaning my pool in your twilight years whilst the rest of us are relaxing.
    • jeffreym, on 10/12/2007, -1/+1#11 - I'm not a Texas republican.

    • JohnboiWaltune, on 10/12/2007, -1/+3#11 If you're male, don't get married or have children. Invest the money you would have spent on a wife and kids, and just have casual relationships.
    • bugsy187, on 10/12/2007, -1/+1The author lists a series of low-blow personal attacks, not honest point-by-point advice.
  • fantasmacanino, on 10/12/2007, -25/+25#11 I realize there's more to life that being filthy rich (family, friends, scuba diving, eating, sleeping, and that's it, I think).
    • negativefx, on 10/12/2007, -4/+57scuba diving?
    • DaNKBuDZ, on 10/12/2007, -3/+71Filthy rich people also eat, sleep, and have friends and family too.

      And uhh...I guess they could scuba dive if they want.
    • ttntyler, on 10/12/2007, -5/+33Heh, that's just an excuse to make yourself feel better about not being rich. People always say "money doesn't buy happiness", but who says rich people can't be happy?
    • Toast1185, on 10/12/2007, -4/+5
      I think that most of the time when people have the goal of being being rich they are just uncreative. What they mean to say is that they have the goal of being happy, but the best way they can visualize it now is through money. Money can sometimes (who am I kidding?...usually) buy happiness, but happiness is the ultimate goal.
    • ladyarcher85, on 10/12/2007, -1/+2So rich people have no friends and families? On the contrary...
      Now that they are filthy rich a lot of people are claiming they are family and wants to be friends with them.
      Plus the rich can scuba dive, they can go to exotic locations and countries too.

      Reason I'm not rich, coz I'm poor lol
    • tsunamisteve, on 10/12/2007, -0/+1Scuba diving is expensive, but it's worth it.
  • macweirdo42, on 10/12/2007, -5/+59Er, they forgot to mention that if everyone became a millionaire, inflation would skyrocket and all that money would be useless. Let's not forget that our system is built on an imbalance of money, people. Thank God for lazy sons-of-bitches like myself who refuse to contribute to the problem of too much money by spending everything I've got. Anyway, who cares about money so long as I'm happy, right? Well, aside from making sure I've got enough to pay the bills, of course.

    • lllUKDlll, on 10/12/2007, -9/+4That's not true. If everyones' productivity was raised to a sufficient level, it would be possible for everyone to be millionaires in real dollars.
    • tafkase7en, on 10/12/2007, -7/+5This guy better be a ***** rich son of a bitch, if not then he can kiss my ass with his little 10 reasons..
    • frozen1, on 10/12/2007, -3/+3Being rich lets you do things you normally can't do otherwise, which is : Own all of your time, do anything you want without having to engage in mere survival. Most people who "pay bills", cannot save up enough money to pay off their bills for their entire lifetime within the first 30 to 45 years of being alive, their time and energy is trapped for the most part in jobs they will have to work for most of their lives until "retirement", i.e. they are too old or sick to work, or companies are ready to fire them as not to incur huge costs, or because young people are stupid and easily manipulated because they have no money, nor experience in the work world..

      I'd take being rich anyday, and let other people do the work for me. Thats what rich people do: They have passive ownership of investments and basically live off the middle and lower classes. No one on earth has infinite earning power, but we allow people to earn as much money as possible, even though the money supply is fixed... the fact is if the money supply is limited, then by this logic alone we see that: Rich people cause poverty by hoarding the money and profit supply.
    • bacon_skoda, on 10/12/2007, -0/+1you can exchange time with money when you are rich.
      fly in a jet instead of an airliner or bus.
      have people fix or maintain things for you.
      of course, buy the fastest PC so you can digg faster and digg more.
    • 0crabby0, on 10/12/2007, -0/+1There's lots of ways to become wealthy.

      #1 Buy Land with your car savings.say $800.00 an acre - at least 30 to 40 acres. Buy the land as rural acreage, along a state highway, 20 minutes outside any metropolitan area.

      #2 Pay all property taxes and check on property from time to time.

      #3 Wait 15 years - sell property to brand new hospital developer for $35,000.00 an acre

      #4 repeat #1
  • thwackitechnica, on 10/12/2007, -11/+14#1 You weren't born into a rich family
    #2 You are not one of those few success stories you hear where a normal person worked their way to riches.
    • kelbear, on 10/12/2007, -1/+5It takes about 4k to get about 1 million dollars out of a Roth IRA when you retire if you save money in summer jobs and invest at 18. No tax on that money if you wait till retirement. It's that easy to become a millionaire.
    • loquax, on 10/12/2007, -2/+3Look, I have got to call BS on all the class-baiting ***** going on here. The fact is that people from ALL over the world come here to make money, and if they are sufficiently dedicated enough and willing to make the sacrifices of time and the trappings of wealth (as opposed to actually accruing wealth), they can make it here in the us. I have an uncle who did it, and my wife has an uncle who did it (he came here without speaking English and without any startup cash). The reason I am not rich is because I am risk adverse with my money, and I'd rather spend my disposable time and income on having fun. Fortune favors the bold, and fortune in America really favors the bold. If you want to get rich, work your ass off, become an inhuman earning machine, squeeze every penny until Lincoln gets a ***** nose-bleed. Any complaints are just ***** belly aching and a refusal to admit what is true. The vast majority of rich people in the U.S. didn't inherit family money. Most inheritors of family money are idiots and loose it all anyway within an generation or two.
    • uselesslogin, on 10/12/2007, -0/+0kelbear:

      Keep in mind that in 50 years having a million dollars will be like having $250,000. And that's only if inflation stays low. Keep in mind that the average 'real' stock market return is only 6%. High inflation has helped make some historical returns look very impressive simply because inflation was not removed from the returns. If the fed does its job that won't happen again.
    • d3c0yn4m3l355, on 10/12/2007, -0/+0@parent, though i gottosay this article got some common sense. Things like be careful with your credit card, if you follow that you save a lot of money, same for the other tips. I don't see this list then as a 'get-rich-list' but more as a 'save-money-list'. It's basicly just a set of rules to cut down needless costs nothing else, besides if this article was seriously so good, then why is the author rich? I mean he's just a common person like most here...
  • SwissCamel, on 10/12/2007, -5/+31Not enough money? Is that on the list?
    • DforSpiD, on 10/12/2007, -2/+1no the list said money has little to do with money... or something along those lines... money...
  • lieutenantmudd, on 10/12/2007, -5/+24This list just perpuates the lie that the natural state of someone is a millionaire. It reads like a list of things you are doing wrong. It's not bad advice, but if I did all these things, I still probably wouldn't be a millionaire.

    I think most of my college educated contemparies will retire with a net worth of a million dollar, but I am sure half of that will be a house and the other half a retirement account. I don't most people, even taking this guy's advice, will ever have a liquid million
    • skidooer, on 10/12/2007, -2/+6Saving a million dollars from say age eighteen until retirement isn't hard at all. Compound interest is your friend.
  • GeorgeStone, on 10/12/2007, -4/+64#1 Haven't figured out how to put a list of 10 on a single page.
    • mdmadph, on 10/12/2007, -1/+1yeah, but he figured out how to split a one-page article into two pages in order to sell more ad space, now didn't he?
  • toppgun, on 10/12/2007, -11/+4burried as innacurate
    :D
    Not everyone has what it takes. Capitalism, FTW?
  • toomuchgreentea, on 10/12/2007, -3/+49I'll bet the guy who wrote the article isn't a millionaire either.
    • lieutenantmudd, on 10/12/2007, -10/+3He is a probably a douchebag who made million as a stockbroker by the age of 28 and therefore thinks he can now retire to the motivational speaker circuit and tell others how to live their life to be more like him
    • senorBojangles, on 10/12/2007, -3/+4He WOULD be, but he doesn't follow his advice either...
    • DforSpiD, on 10/12/2007, -2/+1No... he's a billionaire... but that's the next list
  • spudnic, on 10/12/2007, -5/+62"Whether it's smoking, drinking, gambling" ..."you're wasting your hard-earned money on toys"

    What's the point in having money if you aren't going to spend it on things you like?
    • retral, on 10/12/2007, -8/+7..spending it on things you need?
    • Gizza, on 10/12/2007, -6/+25"gambling"

      Its not a problem if you're awesome at it.
    • madgamer01, on 10/12/2007, -3/+21If you're awesome at it, then it's not gambling.
  • CaptShmo, on 10/12/2007, -7/+1#1 Digg

    edit: dammit woojoo beat me too
  • RedStateRetard, on 10/12/2007, -4/+17thestreet.com?
    #1 on the list should be "taking Jim Cramer's advice". Listening to him will send you to the poor house.

    The only 2 books on finance you'll ever need.
    The Millionaire Next Door: The Surprising Secrets of America's Wealthy (1996, ISBN 0-671-01520-6)

    for the more advanced:
    The Intelligent Investor by Benjamin Graham
    • Y0tsuya, on 10/12/2007, -1/+7#1 You bought Enron, Worldcom, Global Crossing, or dot-com stock because:
      a) "it's a new paradigm"
      b) "if you don't buy now you'd be priced out forever"
      c) "prices would stay at a permanently high plateau"
      #2 You "invested" in real-estate using no-money-down 100% LTV ARM because:
      a) "real estate always goes up, dummy"
      b) "if you don't buy now you'd be priced out forever"
      c) "they're not making any more land"
      d) "prices would stay at a permanently high plateau"

      But actually those would be corollary of #6 and #8 in TFA. And eerily similar. People just don't learn, that's why they stay poor.
    • Y0tsuya, on 10/12/2007, -3/+6Cramer is a tool. He'll huff and puff about a particular investment, until cold facts prove him wrong. Then he'll do a 180 on the next show and backdates his comments, until you call up his old shows on your Tivo or whatever.
  • trer, on 10/12/2007, -1/+81. You attend Robert Allen seminars but don't stay the whole time.
  • AndrewDB, on 01/10/2008, -4/+15I'm not rich because I just bought a 286 dollar cellular phone.
  • VeryAngryJim, on 10/12/2007, -1/+18Here's something simple you can do if you're in college or fresh out of college that will save a fair amount of money until you get a real job.

    Make a spreadsheet for every month with a row for every day of the month. make two columns, label one "cash in" and the other "cash out" and keep track of what you spend and earn every day. It only took me 10 days to completely stop getting fast food on the way to work all the time and ordering pizza with my friends a few times a week. Once you see how much money you waste on garbage like that it's easier to stop.
    • drinklord, on 10/12/2007, -4/+1Awesome.
    • WoollyMittens, on 10/12/2007, -4/+1I assume that $5 pizza makes much of a difference with that $30000 college debt. ;)
    • Nelka, on 10/12/2007, -1/+2My husband and I do this. The first time we started keeping track of our expenses like this, we were very depressed to see how much money we spent on restaurants. It can really make a difference in how you spend/save your money.
  • ggiDigg, on 10/12/2007, -5/+171. You Care What Your Neighbors Think
    2. You Aren't Patient
    3. You Have Bad Habits
    4. You Have No Goals
    5. You Haven't Prepared
    6. You Try to Make a Quick Buck
    7. You Rely on Others to Take Care of Your Money
    8. You Invest in Things You Don't Understand
    9. You're Financially Afraid
    10. You Ignore Your Finances
    • djgump35, on 10/12/2007, -4/+5I'm only 999,900 away at certain times, but ya know, Most of this is bs, there are a lot of other things I would rather do than be a millionare, it wouldn't suck, but I wouldn't trade my family life for it.
    • dougm68, on 10/12/2007, -0/+111. You watch waaay too much porn.
    • Armando57, on 10/12/2007, -0/+112. You aren't white.
  • Nougat, on 10/12/2007, -3/+31#0 You spent all your time clicking to the next page of a ten item list that was split into two pages to increase ad revenue on the host site.
  • TheSeraph, on 10/12/2007, -1/+1"P.S. Important News--RealMoney Upgrade"

    That about says it all.
  • Anigav, on 10/12/2007, -1/+18#1: you didn't patent the "jump to conclusions mat"
    • luigi1015, on 10/12/2007, -2/+9#2 You didn't get hit by a drunk driver pulling out of your driveway.
  • beatphats, on 10/12/2007, -1/+10Well, for me I know "The Secret" and now I'm thinking all day about being rich.

    But nothing still...

    ...need to concentrate more, pop a blood vessel or two...
  • MudkipsULiekEm, on 10/12/2007, -3/+4I do NOT have a million dollars.

    Is that an example of a NOT joke?
  • DRTtom, on 10/12/2007, -6/+2Reason 11: you spend too much time on the computer.
  • thepaulm, on 10/12/2007, -8/+21What a pointless and stupid article.

    Lame.
    • stupidverizon, on 10/12/2007, -2/+3Yea but the comments are hilarious. Thats the only reason I digg submissions like these!
    • dougm68, on 10/12/2007, -0/+1no *****. I knew all that. I'm just too lazy to do anything about it.

      Work sucks.
  • CoachZed, on 10/12/2007, -2/+6I can all but guaranty the guy who wrote that article isn't a millionaire.
  • byronm, on 10/12/2007, -5/+5Can't believe the article is getting dugg this much, its pure rubbish. Most millionaires aren't cash millionarres but asset millionaires and they probably have a huge amount of debt tied up financing those assets but at the same time creating wealth so there DTI isn't out of whack. You do have your typical retirement millionaires and people who managed to pinch pennies there entire life but that isn't for everyone and these 10 reasons certainly aren't the reasons you or I won't be rich.
    • enzomedici, on 10/12/2007, -0/+1
      ...and who wants to pinch pennies all their life and have a pile of cash at 80? ***** that. You're too old to use it then.
  • lukeamotion, on 10/12/2007, -2/+34I was rich, and then I bought my PS3. Now if i could only afford a game.
  • fuzzmello, on 10/12/2007, -7/+5i'm not rich because i just don't give a *****.
  • sachmanb, on 10/12/2007, -8/+11My 3 Item List:
    #1 If you weren't poor, then no one would be rich. Money is about distribution and because you don't understand our economic system; those that do have an advantage of where they stand in this distribution.
    #2 Because your honest. Profit comes from the production of artificial value and this is a basic understanding of capitalism. Otherwise the costs and the price would be the same.
    #3 There are two elevators in economics, attached by the same pulley. As one drops the other goes up. Your on the one going down. You make enough money to pay taxes which go to the private interests (because the Federal Reserve is a private company that creates debt for the US every time it prints a note) . You make just enough money to keep working and maintain your basic needs. Outside of that you must take loans, and switching elevators takes some cleverness. The other elevator is going up as you go down -because- your going down. Their money makes money. At a certain point, one has to do something real stupid because simply on interest without any risk their profit is greater than their spending. That interest is paid to them by banks. Those banks got the money from you.

    Welcome to capitalism. At least it beats state run socialism and feudalism. All hail the banks.
    • stanleyford, on 10/12/2007, -3/+8"#1 If you weren't poor, then no one would be rich."

      This is only true if wealth is a zero sum game in which one party's advantage becomes another party's disadvantage, in other words, if one person becomes wealthier another person must become poorer. But one only needs common sense to realize this is untrue: if my house burns down tomorrow, I become poorer by the value of the house and everything in it, but no one else has gotten richer at my expense. On the other hand, if I build a new house tomorrow, I become richer by the value of one house, and no one has become poorer at my expense.

      "#2 Because your honest. Profit comes from the production of artificial value and this is a basic understanding of capitalism. Otherwise the costs and the price would be the same."

      It is neither artificial nor dishonest to make a profit, provided that the profit is made legally and ethically. Believing otherwise is foolish and nonsensical. Why would anyone make anything if, for their labor, they received no reward? Why is it dishonest to make a profit from the sale of goods or services, if the buyer understands and agrees to the price?

      Do you have a job? Does that job pay you more than the actual cost of your time and the material expenses you incur while working? (If you are able to use the money from your job to purchase food and housing, then you are making a profit from your labor.) If so, the price of your labor exceeds its cost, and by your own reasoning, you are behaving dishonestly.

      "#3 There are two elevators in economics, attached by the same pulley."

      This entire paragraph makes no sense.
    • WoollyMittens, on 10/12/2007, -0/+1"Wealth redistribution, became the new solution.
      So I got a paper bag and you got the one with all the holes."
      - The Levellers

      // I couldn't help myself, that song just came up on my "party mix" :)
    • floorman56, on 10/12/2007, -1/+3That doesn't explain the owners of U-tube and Google. Who's money did they "steal"?
    • blqysmg, on 10/12/2007, -1/+5You have absolutely no concept of economics. In the 40 years from 25 (when you can resonably expect to start making money) and 65 (when you can resonably expect to retire) the economy will more than triple in size.

      For those who are slow, that means that there is more than 3 times as much money to go around as there was before. The money goes to those who know how to invest. There is no secret society, no magic formula. Compound interest works the same way for everyone.

      For those who blow every penny they earn, the last paycheck they get on their job is the last money they have that's not given to them by the labor of someone else. For those who invest early in life, and add to that investment in a consistant manner, riches await. It just takes TIME.
  • supermanred, on 10/12/2007, -7/+51. Steal underpants.
    2. ?
    3. Profit!

    The reason I am not rich is number 2. I don't know what it is. I know, sad that it isn't 1 and 2. But I steal underpants
  • MudkipsULiekEm, on 10/12/2007, -2/+23Here's the real reason: people's expenses match a certain ratio of their income.

    Say you make 50k a year, which I was at not too long ago. It was fine. I paid my bills and saved some.

    Now I make 75k a year. But my ratio is still the same. Why? Because I say, "well, I can technically buy this this and that..." and still maintain the same level of debt/income, when in reality I should still be living at a 50k means and banking all the extra. After all, I lived off of that before.

    But nooo, now it's "yeah, I can go party every night" and "I can afford a new car/big screen TV" and "I can buy all these sweet games". To others around me, it looks like I'm just blowing my money. I'm not in a bad situation by any means, but I'm not saving like I *could* be.. living like I was before.

    Really it's just discipline. Right now I'm enjoying the raise, but soon I'll have to buckle down under some crazy budget in order to start saving for retirement.
    • Urusai, on 10/12/2007, -2/+4That's nice...my family income halved in a couple of years thanks to the dot-com bust, and believe me it's a lot harder to scale down (especially with debt, kids, etc.) than it is to scale up. Platitudes are great until the real world decides to knock on your door.
    • aelias, on 10/12/2007, -3/+8And we have a winner. I mean, I'm turning 30 this year, and have pretty much collected all of the toys I could ask for. Most of them are paid for, for that matter. And you know what? I'm happy. I don't bank mad dough, but I don't need it either. But, even if I saved every penny I EVER made, and didn't buy any of the cool stuff throughout the years (stuff that I WORKED for, and treasure to this day), I'd only have a couple hundred grand. You can't even buy a decent house/car combo for that. This article is *****. Either that, or I need a better job. Maybe I should want better toys?

      Live it up, people. You may never be rich, or famous, but you can be happy.
    • MudkipsULiekEm, on 10/12/2007, -2/+1Yeah, my main thing is that all my stuff is paid for, minus house and car.

      I have no serious debt at all and I'm enjoying life.

      I'm only 26, so I still have a ways ahead of me, but then again, now is the *best* time to start banking for a dream-like retirement.

      At the same time, I'm very lazy. I know I should invest and learn how to do it more than I already know, but.. I'm comfortable. And when you're comfortable, you don't wanna change, even if it's the smart thing to do.
    • kelbear, on 10/12/2007, -1/+2For the majority, saving doesn't have to mean a huge hit to their lifestyle, the most important thing for them is to stay out of debt, and start saving right now. Like, this week. Then let time and compound interest turn those small savings into large payoffs. It's the time and compound interest.
    • blqysmg, on 10/12/2007, -1/+1@aelias,

      It doesn't take all that much per month to add up to a huge balance later in life. Of course, if you could have started 15 years ago, it would have been better, but just think of what $100 per month adds up to after 30 years. (and no, it's not $36,000.00; its more like $224, 000.00)

      For those people who can contribute a car payment to a ROTH: $390 per month (to use an earlier example) yields a million dollars in around 32 years.
    • UnderWurlde, on 10/12/2007, -1/+2Pay off your small debts (credit cards, etc...), own your car (unless you intend to have a car payment EVERY month for the REST of your life!!!). When that's done, and you have a safety blanket (3-6 months saved for rainy days), then take 15% of your interest and invest for your future (RRSP, 401K, IRA, etc...) So basically, after a bit of discipline, you keep your lifestyle minus 15%, and you'll be laughing at your retirement.
    • UnderWurlde, on 10/12/2007, -1/+2Oops, I meant "take 15% of your income" not "interest"!!!! Didn't have a chance to edit.
    • malenfant, on 10/12/2007, -1/+2To aid in your saving, it helps to set up an automatic savings plan that will take out a certain percentage of your paycheck (e.g., 10-15%) each time you get paid. By doing this you never see the money and your standard of living will adjust to the amount you see after taking the savings off.

      This is a common methodology taught in many financial planning books which helps to removes the need for discipline when saving.
  • Namco, on 10/12/2007, -1/+10#11 Every get rich scheme has a disclaimer somewhere that reads "These results are atypical, actual results may vary"
  • Soldan, on 10/12/2007, -2/+312. I did not buy houses for no money down...

    actually i would imagine you could become rich by getting poor suckers to buy books on how to get rich......defrauding people is not in my nature...soi wont become rich..
    • Nougat, on 10/12/2007, -0/+1You're right. That "Rich Dad, Poor Dad" guy - he says that his book sales have grossly outpaced any other income he's ever made.
  • l34NDl20, on 10/12/2007, -4/+3"#1: you didn't patent the "jump to conclusions mat"

    Ha ha!
  • Sneezyx, on 10/12/2007, -5/+5Despite the fact that my net worth is in the low seven figures (not exactly rich, but not poor either), most of that stuff doesn't apply to me. I'm kind of lazy, unfocused, etc., and up until 10 years ago my average annual income was well under $30K and I didn't save any of it. But then I made a fortunate career change and started doing some commonsense investing, and now I'm doing okay. If I could do it, anyone can.
    • betacmag4u, on 10/12/2007, -2/+6@ Sneezyx alright ...no getting away being that vague. What field did you change to?
  • lund9772, on 10/12/2007, -6/+1No ***** Genius!!
  • iMoth, on 10/12/2007, -6/+1just go farm for gold.
  • Modizzle, on 10/12/2007, -3/+1Nice article. When you say everything, you're bound to say the right thing.
  • paulboogie, on 10/12/2007, -5/+5"The reason why you aren't a millionaire (or on your way to becoming one) is really quite simple. You probably assume it's because you aren't earning enough money, but the truth is that for most people, whether or not you become a millionaire has very little to do with the amount of money you make. It's the way that you treat money in your daily life."

    No actually I think it's because I'm not earning enough money.
  • eschompthis, on 10/12/2007, -2/+7most reason why we ain't rich is because we make some bitch ass excuses like these
  • iidestined, on 10/12/2007, -3/+1im guilty of so many of these
  • patientXero, on 10/12/2007, -5/+1I feel ashamed. Oh wise master, preach more on the evils of material excess.

    /sarcasm
  • 13thfloor, on 10/12/2007, -5/+2I'm working on my second million. I gave up on the first...
  • caponumen, on 10/12/2007, -5/+3Discovered masturbation.
    Repeat......
  • Slacker1031, on 10/12/2007, -4/+2I don't take financial advise from bloggers who are telling you why you don't have millions of dollars, when it's so obviously worked out for them.
  • doktorrocket, on 10/12/2007, -3/+586 reasons you ARE rich:

    1: You didn't go to sleep hungry
    2: You didn't go to sleep outside
    3: You had a choice of what clothes to wear
    4: You didn't break a sweat today
    5: You didn't spend a minute in fear today
    6: You had clean drinking water today

    It's good to have some perspective on what constitutes "rich".
    • synd04, on 10/12/2007, -6/+4@doktorrocket
      "4: You didn't break a sweat today"
      hmm... I enjoy breaking a sweat. How's your health's "net worth"?
  • punwin, on 10/12/2007, -5/+0Principal skinner and Ms Krabaple were making babies and i saw one of the babies and it looked at me
  • Rosstafari, on 10/12/2007, -3/+0Who's Jeffrey Strain? Reading a list by this guy on why I'm not a millionaire is like getting parenting tips from Britney Spears or spiritual guidance from Tom Cruise. Or advice on how to get off the couch and get a job from me. *cough*
  • nadadingsda, on 10/12/2007, -5/+2I AM rich, bitch!
  • dekleining, on 10/12/2007, -4/+1uhh,
    But I am rich...
  • TonyTheTerrible, on 10/12/2007, -3/+1whos this rich guy? never did like that name.
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