Did You Know That The Rich Don't Work For Money?

Philippines
March 8, 2012 9:48pm CST
The rich uses money to make money. They earn money when they buy, not when they sell.
14 responses
• Philippines
11 Mar 12
please tell me how to be rich. what should i do to be rich?
• Philippines
11 Mar 12
Just get out in the Rat Race!
12 Mar 12
I wish some one could properly answer that question, start playing the lottery is your best bet
@olliekobra1 (1826)
9 Mar 12
Thats true in my country the rich buy things in bulk that way they dont have to pay tax on a lot of items this saves them thousands of pounds a year.
• Philippines
11 Mar 12
You know why? It's because they are not relying on their salary. Remember, the higher the salary, the higher the taxes.
12 Mar 12
In my country the real wealthy people pay less tax , which don't make sense as they can afford to pay it . But the rich make the rules but apparently the want to impose a super tax.
9 Mar 12
If you want to get rich, you have to be prepared to work hard, and for longer hours than others. Read a few autobiographies by successful businesspeople - 12 or 14 hour days and 6 or 7 day working weeks are not uncommon for entrepreneurs. Check your own experience - how many places have you worked where the boss wasn't the first in and last out?
• Philippines
11 Mar 12
You know, please don't say work hard because many people are having bad debts because of that two words. It's not really work hard, but work smart. All you have to do is have cash flow(assets). Cash flow is an income even without working, AKA passive income. And you can become rich as long as you know what an asset is and a liability.
12 Mar 12
You have to put the work in to gain the assets for your passive income. No matter how smart you are, if you're not prepared for some seriously hard graft in the first few years, you'll never be rich.
@stanley777 (7177)
• Philippines
9 Mar 12
Yes, they invested their money to earn profits. Like letting their money do the working for them. Usually they bought stocks which could earn them more money.
• Philippines
11 Mar 12
Yep, but not only stocks, they invest on real estates too. Just like from Monopoly from Hasbro.
• Philippines
12 Mar 12
In stocks, I guess they have to sell it too to earn profits unless the investor is satisfied on how his money is earnings. The same thing with real estates.Either they build a building so that others may rent it or he uses it as his office for his business.Or sale it after a couple of years or more which could mean his purchased prize before could jump 100% or double it's original purchasing price.
@dazzledlady (1621)
• Philippines
9 Mar 12
Hello Emmanuel, well yes when you were born to be rich you dont work for your money because it is given. But life is so unpredictable, I am happy but I was not born rich because if I earn a lot of money I can have that glorified feeling for a moment. For them, they can be hard to please. The more rich you become the higher standards you'll have to be. And the lesser you'll be happy.
• Philippines
11 Mar 12
To become rich, it's not about the possessions you have but the knowledge and wisdom you have. And it depends on you how to live your life. Example: A family that has a strong bond; Friends that you can always rely on; Someone that protects you from any harm and evil, even from yourself, and others..
• Philippines
11 Mar 12
i agree with what you meant emmanuel_II. being rich doesnt always apply on finances.
• Philippines
11 Mar 12
please tell me how to be rich. what should i do to make rich?
• Philippines
11 Mar 12
Just get out from a life called "Rat Race" Rat Race is a life that has full of bad debts.
@sirnose (2440)
• United States
10 Mar 12
Yes, I knew that the rich pays nothing; not even taxes. When the rich get a tax increase they just pass it along to their consumers or the "suckers" they call tax payers. It a fact that it takes money to make money and that the ones with the gold "rules."
• Philippines
11 Mar 12
You know, rich people became rich not because of their possession or gold, but because the way they think is different from middle class and poor. Example: The poor became instant millionaire from lotto or others, sooner or later, they became poor again.
@missGYD1 (48)
• United States
9 Mar 12
So what else is new......the rich get richer and the poor get poorer. That is old as Methusala. If nothin changes, nothin changes.
• Philippines
11 Mar 12
(Please read it all, this will help you understand your situation.) Seriously, it's not the rich people who makes the poor poorer. Remember Robin Hood. By the time that people heard the story of Robin Hood, the poor demanded to their government that the rich will pay for the poor. The government put taxes in the rich depending on their salary. But, when the government hold a high quantity of money, they wanted more and they increase the taxes. (But you know, the rich think differently) Ex. Some rich people are investing on the transportation in search for resources, when the resources came, they will have their income. (This is not from their salary but their passive income) When the government know about the rich is paying less (because the rich have less work), the government put taxes in the middle class. (This time their greed upgraded) They also put taxes to the poor. "That's the reason the poor and middle class became distant to the rich"
@preethaanju (3000)
• India
9 Mar 12
Its not true. If you say that the rich use money to make money, then obviously they will need money in the first place to make more money. That is the truth of all businesses. First they invest some capital. then they reinvest what they have earned.This will have a multiplier effect.
• Philippines
11 Mar 12
To tell you the truth, its the truth. The rich became rich not because of what they possess, but because they find opportunities wherever they go that the poor and middle class couldn't even the opportunities that is already in front of them. Remember, if there are problems, there are opportunities! :)
@kristiane (112)
• Philippines
9 Mar 12
They don't work for money because the money works for them. I can't understand what you're saying about that they don't earn when they sell. Everybody earns when they sell something'
@judelen (428)
• Philippines
10 Mar 12
hello! It's true that the rich people they are not working for money but their money working for them. This means that in financially free people, they invest money in the bank, bonds and other financial institution for investment. So in this way, once they deposit their money, it will grow due to interest monthly or yearly. So in this case their money working for them. Say if you have million to invest, of course interest will follow and grow higher and higher without working on it. This is called a passive income. Just earning without working.
@peavey (16822)
• United States
9 Mar 12
That depends on what they buy. If they're buying stocks or bonds or CDs, then, yes, they will earn money (or hope to) on those things. Otherwise, how could they? Using money to make money isn't limited to the rich. If you can scrape a few dollars together, you can make an investment of some kind.
• Philippines
11 Mar 12
They're not only investing on shares, but, also they're investing on real estate and other opportunities.
• Philippines
9 Mar 12
Some other rich people selling and does makes money a lot.But it depends to what you said. They buy and make money in what way.Maybe they buy things,and sell it and they make money to what they are selling.
• Philippines
11 Mar 12
They buy and make money because of passive income. All they do is buy assets, not liabilities.
@SillyBE (181)
• Belgium
11 Mar 12
Rich are making money by outsourcing their work.
• India
9 Mar 12
I agree with you. Rich Guys working for Not money, they are keep their tension relax so that's the thing they always shows busy. And some persons only get More money from selling, some persons earns the Money when the Buy you are right.