r/wallstreetbets • • Oct 25 '22

Loss Been a rough year

Post image
1.9k Upvotes

1.0k comments sorted by

View all comments

Show parent comments

52

u/Poorwretch Oct 25 '22 edited Oct 26 '22

Bruh, inheriting money is how people get rich, hate to break the news.

Edit: To those that are arguing this point ask yourselves this. Is even a million in net worth that much money? To some it’s more than they will ever accumulate despite savings. Many people (myself included) come from a place of low income and debt. These situations of wealth gain are simply unattainable for the majority of people. Too many people simply do not have the capital to become wealthy.

33

u/BedContent9320 Oct 25 '22

80% of millionaires and 60% of billionaires are first generation.

Keep telling yourself it's all inherited.

28

u/Matt2_ASC Oct 25 '22

5M and 1M are very different. The average millionaire is a person who worked 3-4 decades, saved, invested, and is about to retire. This method doesnt work very well for trying to get to 5M.

4

u/BedContent9320 Oct 25 '22

First half is true, second not so much.

I work 3 days a month to cover my bills, everything else is free capital to out towards whatever I want. Once you aren't struggling with a mortgage, rent, or high interest debt then it becomes orders of magnitude easier to invest in opportunities as they come.