Success: Self Made or Advantaged

A million in cash...

1. Get married.
2. Pay off my wife's student loans.
3. Ensure my daughter's college education is paid for in full.

Whatever's left after those three can sit in an account and draw interest.

WOW SoCal - A million bucks?

I would invest half and give half away in small amounts to lift some people
into an easier or more comfortable way of life.... if possible.... anonymously.

Divide it into three, invest 400,000, give 300k to charity, give myself a month to spend the rest and then also invest what's left, if anything. Not really interesting.

$400,000 invested with an annual return of 10% wouldn't be enough to retire on. What type of investment would interest you - oil stocks? High-tech? Biotech? Just curious.

$300,000 on yourself..? What? A new Ferrari and a tank of gas..?

I seldom have more than about 50 bucks on me.

What happened to being rich?

All nice thoughts, to be sure. What generally happens after some thought, is that persons in this position who generally understand money and have a respect for it's power, will do as you suggest and put the money in the bank or some money market account on an interim basis just long enough for them to decide how to invest the money for the greatest return. If managed properly, you family name would be set for generations.

Leaving a large block of money unattended in the bank to draw interest is the very last choice because people that say they will do that, never do. After their first bank statement, it begins to burn a hole in their pockets. They begin to spend and spend until it's all gone, generally after a year to two. Those are the people that give support the notion that money corrupts.

Further, what you are saying is that wealthy people are ruthless in business and have kids that are worthless.

Self made also understand the work and sacrifice put forth to attain their goals, and therefore have great respect for their achievements as well as the achievements and hard work of others.

Why do people have to try assuming I am saying something, I said what I said, and that's it. I knew quite a few well to do's growing up, and a lot now through our business, and from my experiance, very few of those born into it appreciate what they have. If you can quote me calling them worthless do it, if not, don't make leaps.

One does not make oneself in the business world by being a nice guy or letting people take advantage. My point was more that someone that is advantaged can't really call it a success because they started at teh finish.

A million in cash...

1. Get married.
2. Pay off my wife's student loans.
3. Ensure my daughter's college education is paid for in full.

Whatever's left after those three can sit in an account and draw interest.

This is exactly what you said. If one does not make it as a nice guy, is he/she not ruthless?

Offspring that begin at the finish are an embarrassment to their parents and certainly not the rule. Most appreciate the head start and run much faster than their parents. Is that not what you want for your children..? To be more successful that you..?

No, there's a lot of room between not being a nice person that lets others take advantage of tehm, and being ruthless.




Where did I say anything about them being worthless? My point, and I still stand by it, if you are born successful, how exactly can you achieve success? Maintain the status quo maybe. Of course one would want their child to be more successful, but what exactly is your measure of success? I'd say everyones is different.