Just can't relate to all that coin - won't make that much in my lifetime. I am part of that "Fake it till ya make it" group. Suntrust owns my HD and just lets me ride it as long as I give them a few $ each month. I only work when I need $ - more time to ride. hehehe. Perfectly content being a bottom feeder. Came for spring break and never left. I bet some of you college grads knew someone like that?

 

Some good points, but the reason a lot of people are 'poor' is that they do things that keep them poor. The rich do things that keep them rich.

The long and short of it comes down to education. Which quite obviously has a whole bunch of problems, but people are getting a lot of their education from the wrong places - Life, Liberty and the Pursuit of Happiness means a big house and TV, the ability to tell others what to and to blame others when you don't get your way.

Why aren't starter homes built today? because the person who needs a starter home wants a $250,000 house with all the trimmings. They spend themselves into poverty and complain that it's the 'rich' who are taking from them.

But they aren't 'poor' or living in poverty. Their priorities are completely messed up.

But don't put all CEOs in the same basket. Corporate America isn't reflected in these high-profile companies, their executive packages and profit/loss statements. That guy cutting your lawn? He's a CEO. The independent mechanic? A CEO. Computer tech who repairs your computer after you dropped it in the bath tub? A CEO. I'm a CEO (CFO, engineer, dogsbody and trash collector) and have never earned less than what I do today. But some of us will make 'it'. Whatever our personal 'it' is. But no-one walk's into a high paid CEO job. There's no interview, skills check, resume or test. We work at it, doing the crappy tasks that over paid lazy arsed self-entitled employees won't do, for years in the hope that we'll get what we want.

And yes, it is hope, and a healthy dose of luck. The hard work, skills and education are a base line. These carry you so far based on 'merit'. But there's a point where merit becomes meaningless. It's who you know, not what you know. That's a completely different ball game. Nothing can be taught or learned. It's the proverbial old boys club. It's a moving target and there's no right way in. It, in and of itself, isn't race based, sex based or age based. How you shake hands can be more important than your actual resume. Deals are made on the proverbial golf course; you have to play a game where the rules are made up based on the wind direction and the color of your shirt. It sucks.

Your life is defined by what you do with it, not by what others do with theirs.

 

OceanTwo, I couldn't agree more.

RexBuck had mentioned that "Everyone has the same opportunity", Not from what I've witnessed throught life. I would have to dissagree on that point.

Here is just one example of MANY that seems commonplace to me.

My father worked as a production manager for a large company that moved South a few years before he retired (same old story, "let's move south and hire a bunch of Southern locals for 5 bucks an hour, whip em like dogs to keep production levels like they are up here"). He decided to take the early retirement package and then flew back and forth for the next 3 years as an independant consultant to the same company. He's done well for himself. retired very well off. My sister took the same path in life, going to a good business school earning her degree and wanted to "Make it on her own" without help from my father. She's a highly motivated person, She had spent two years knocking down doors, applying at many companies, following up leads...etc. Nothing. UNTIL my father called one of his old Exec buddies at a company she applied at, BAM, hired.

I think there are way more people who have done all the right steps in life but didn't have either the right last name, the right connection or the right amount of funds written on Daddy's donation check to the Ivy league college they were applying to.

When I hear someone say you can go as far as you want in life, it's all up to you. That's usually out of the mouth of someone who has had luck go their way.

 

And here is the difference in life-philosophies.

"you make your own luck" v. "victim of fate"

 

A Lehman brothers exec would say, "you make your own luck"

A Lehman brothers Shareholder would say "I'm a victim of fate"

 

Yep! I come from a very poor background, but as soon as I decided to be in the first group, my lot in life improved exponentially. People are confusing equal rights to opportunities with equal access to them. Coming from the background that I have, the biggest difference I've seen between the two classifications you listed above, is the willingness to pursue said opportunities...the willingness to put desires aside long enough to apply yourself to said opportunities. It took me a while in my younger days to figure it out...but, the biggest obstacle to advancement is often the refusal to elevate long term objectives above short term gratification.

 

QFT. I will certainly remember this.

 

TequilaJohn, My venture has been almost the opposite. I come from a backround of high income white collar surroundings. My parents and School counselors begged me to stay on the track of Graphic/Commercial art which was what I prepped for all through school. And yes, Education was very important in my parents eye's. I dabbled in the world of corporate/white collar but couldn't stand it. I needed to do something where I didn't sit down behind a desk all day. I like using my hands, being on my feet all day and moving around. I can't sit in a cubicle staring at a computer (or at that draft-table designing the layout for the next big advertisement).

So I got into car repair as crazy at that sounds And much to the dissapointment of my folks. But it's been a good living to me for 30+ years (until recently anyway).

Getting back to "Opportunities", A lot of the guys I worked with tried very hard to break out of the automotive field. I knew guy's who went to night classes for years (for CAD drawing), when into government jobs (low paying, good benefits). And a very high number who just hadn't had doors open for them. And believe me it wasn't due to lack of effort or motivation on their part. A good friend of mine tells me listing "Auto mechanic" as a previous job on a resume' is the "Kiss of death". Regardless of how much other experience or recent schooling for that position you've just completed.

Many lower income people are in their predicament because of low education, lack of effort, lack of motivation or not doing what it takes to achieve their long term goals. But not all of them. Sometimes now matter how persistant you are or how much to try and make your own luck those doors to the "Ol boys club" just don't open.

 

If you ever ride through Montana, those will become real beers.

I'm gonna paraphrase that last line to my students. Well said.

 

"Thanks for coming to the board room. Sales are down, lay-offs and plant shut-downs, stock prices the lowest in over a decade and a half. I guess you can figure out why we called you in here today....Here's your sack o' cash!! Good job!"