Have you known people from rich to poor, or from poor to rich?

@scheng1 (24741)
Singapore
July 18, 2009 2:26am CST
I prefer to go from poor to rich, and I have spoken to people who were very poor, and become rich. Even though they are not as rich as Bill Gates, they are rich enough to consider as millionaires. One of them is the chairman of my ex-company. He was a poor truck driver when he started a company to deliver cement with three other friends. The company grew to a listed company, and almost went under during the last recession. Fortunately a group of investors poured in money and brought in new team. Now the company is doing well, and the Chairman is a millionaire. I have seen a distant relative going from rich to poor. From a few jewellery shops, driving Mercedez to a poor old man now. He lives in a much smaller and low cost apartment than ours. He does not gamble, but his sons had unfortunate marriages, kind of cheated by women. Have you known people getting from poor to rich or from rich to poor?
2 people like this
4 responses
• Philippines
18 Jul 09
Yes there are many example of people who were once poor but was rich now. Like the boxer Manny Pacquiao. He was just a regular boxer before but now, look at him. He's like everybody's master. He can get what he wants and he deserves it for being such a great fighter.Ü
1 person likes this
@dragon54u (31638)
• United States
18 Jul 09
I've never known anyone that went from poor to rich and I don't think I know anyone that's rich or gone from rich to poor. Everyone I know and have known in the past is either making enough to get by with a bit extra to enjoy or struggling to pay their bills. I'm sorry for your relative, that must have been hard for him to adjust to.
@scheng1 (24741)
• Singapore
18 Jul 09
Hi Dragon54u, some people gone from poor to poorer. Some are just making enough to survive, and have enough for retirement, then they either get into debt due to bad investment or their family members drag them into debt. Not many people can go from poor to rich. We are fortunate in Singapore, because for the past thirty years, the standard of living improves tremendously, and many people (especially those with no or low education), can become poor to rich due to hardwork, and courage to start a business. The funny thing is that the rich doesn't look like rich, and the poor pretends to be rich.
1 person likes this
@dragon54u (31638)
• United States
18 Jul 09
"Poor pretends to be rich" is the attitude that got so many of my fellow Americans into trouble the past decade. Everyone wanted to look as if they were doing better than they were and they wanted to have as much as their neighbor did. I myself had some money saved for retirement and lost 25% of it recently as big companies and banks failed. I hope I'll gain it back, otherwise I'll probably be living with my son when I am old. And here, you can work hard all you want but the more you make the more the government taxes you--they even tax your investments. It's very hard to get rich here just by hard work.
@scheng1 (24741)
• Singapore
18 Jul 09
Hi Dragon, at least you have social security system in your country. Asian countries generally do not have such system in place, right now the government here has cancelled the pension scheme. What we have is the central provident fund, which is actually the money we save. The government has enforced this compulsory saving scheme in lieu of social security scheme, so that we do not rely on government to fund our retirement. The income tax is not that low too. Plus the government has various forms of taxation methods. We earn money, and the government tax us. We spend money, and government tax us. The ironical thing is that our Singapore government is among the richest in the world.
1 person likes this
@seymiss (627)
18 Jul 09
I have known people from both sides but more from poor to rich.And once the become right they forget were they came from. cheers!!
@scheng1 (24741)
• Singapore
19 Jul 09
Hi Seymiss, that is bad of them. It's true that once they become rich, they will have to mingle with people from the same social standing, that does not give them the right to forget where they come from. I think those truly rich people will despite them also. At least those rich folks I know are still very personable, and everyone will not think that they are rich. They still mingle with people like us, and still sharing their wisdom with us.
@prinzcy (5057)
• Malaysia
18 Jul 09
Who would choose rich to poor? Despite anything, it will always be poor to rich or rich to rich (or should I say rich to richer?) Personally, I would love to choose poor to rich (even if with my condition or yours) I think I'll learn more from poor to rich. I'll know my ground and how to move on.
@scheng1 (24741)
• Singapore
18 Jul 09
Hi Prinzcy, no doubt many people want the route from poor to rich, or better still, rich throughout their whole life. However, not many people are able to get their wealth, especially when they are not the first generation that accumulates the riches in the first place. I pity those who born in rich families, and then become poor. They have a harder times dealing with hardship and poverty.