<div class="quote_poster">Quote:</div><div class="quote_post">The richest 2 per cent of the world?s adults owned more than half of global household wealth, while the bottom half owned barely 1 per cent, New York University economics professor Edwin Wolff said at a Headquarters press conference this afternoon.</div> http://www.un.org/News/briefings/docs//200..._Wealth.doc.htm fyi- this research is unique cause instead of looking at income, they are taking a more comprehensive approach and looking at household income
Interesting, I'm actually surprised it's not more. Most people don't understand and/or aren't disciplined enough to accumulate wealth.
<div class="quote_poster">shapecity Wrote</div><div class="quote_post">Interesting, I'm actually surprised it's not more. Most people don't understand and/or aren't disciplined enough to accumulate wealth.</div> true but more importantly for me is that there are a whole bunch of people in the developing world who just don't have a chance.
<div class="quote_poster">deception Wrote</div><div class="quote_post">true but more importantly for me is that there are a whole bunch of people in the developing world who just don't have a chance.</div> I disagree, obviously it's not an even playing field and some people have more resources available, but everyone has a chance.
<div class="quote_poster">shapecity Wrote</div><div class="quote_post">I disagree, obviously it's not an even playing field and some people have more resources available, but everyone has a chance.</div> i believe most people according to the economic data are born condemned, and i'm not even accounting for history as well as the psychological factors.
Another economic report came out on this subject yesterday. 85% of the world's wealth is owned by 10%. Some staggering numbers right there.
<div class="quote_poster">shapecity Wrote</div><div class="quote_post">Another economic report came out on this subject yesterday. 85% of the world's wealth is owned by 10%. Some staggering numbers right there.</div> disparity is the word of the day. one of the key questions to be asked is what are the fortunate 2% or even the 10% doing with their affluence? are they creating more separation above everyone else or are they mitigating the gap?
<div class="quote_poster">shapecity Wrote</div><div class="quote_post">I disagree, obviously it's not an even playing field and some people have more resources available, but everyone has a chance.</div>everyone has at least 1 chance, you're right. Just some people have 800 million chances. so yeah, you could say it's kind of an uneven playing field...... a group of 12 retarded 3-year-olds have "a chance" of beating the Spurs too........
<div class="quote_poster">deception Wrote</div><div class="quote_post">disparity is the word of the day. one of the key questions to be asked is what are the fortunate 2% or even the 10% doing with their affluence? are they creating more separation above everyone else or are they mitigating the gap?</div> There's going to be extreme variances on both ends of the spectrum. I forget which Prince it is, Dubai or Brunei, but he has a $1 Billion dollar car collection. He had a staff of 5 mechanics and they said he's only driven a few hours in an entire year despite all the high end cars he owns. Absolute waste. Then you have someone like Warren Buffet (2nd richest man in the world), who donates a lot of his wealth. He plans on donating $30Billion to the Bill & Melinda Gates Foundation. Article: Warren Buffett gives away his fortune phundamentalz - I'm not sure what your comment is trying to accomplish.
<div class="quote_poster">shapecity Wrote</div><div class="quote_post">There's going to be extreme variances on both ends of the spectrum. I forget which Prince it is, Dubai or Brunei, but he has a $1 Billion dollar car collection. He had a staff of 5 mechanics and they said he's only driven a few hours in an entire year despite all the high end cars he owns. Absolute waste. Then you have someone like Warren Buffet (2nd richest man in the world), who donates a lot of his wealth. He plans on donating $30Billion to the Bill & Melinda Gates Foundation. </div> Article: Warren Buffett gives away his fortune warren buffet is bad arse, a even cooler billionaire is george soros- i think he funded moveon.org (the anti-bush website).
<div class="quote_poster">shapecity Wrote</div><div class="quote_post">I disagree, obviously it's not an even playing field and some people have more resources available, but everyone has a chance.</div> Dude, no they don't. Not even everybody in America has a chance, but none of us can even begin to fathom how bad it really is elsewhere. How can you say that? I'm really interested in hearing more...
<div class="quote_poster">Chuck Wrote</div><div class="quote_post">Dude, no they don't. Not even everybody in America has a chance, but none of us can even begin to fathom how bad it really is elsewhere. How can you say that? I'm really interested in hearing more...</div> shapecity this is the point i was trying to make - I think you are a bit overly optimistic in the capitalist system
<div class="quote_poster">Chuck Wrote</div><div class="quote_post">Dude, no they don't. Not even everybody in America has a chance, but none of us can even begin to fathom how bad it really is elsewhere. How can you say that? I'm really interested in hearing more...</div> There's no simple formula to it, and the best way for me to explain it would to use an individual example and then tweak it to apply to others. From my experience most people don't understand how to accumulate wealth. I used to be a financial planner for a wide array of people, and in most cases these people were very wasteful and uninformed with their cash flow situation. You have to start with the basic question. How much do you need to make every month to live? Food, rent or house payments, gas, car payment, car insurance, utilities etc. It's a simple question, but most people can't give you a straight answer. When you start having them write it all down, they are shocked when they find out they are spending more each month than they are bringing in. These people are like most Americans, living on credit and in debt. So my goal used to be getting people to be smarter with their money and to change their spending habits to fit within the proper lifestyle. The proper spending habit is to spend less than you make each month and the difference becomes your tool for accumulating wealth. Even if it's just $100.00 you can afford you can begin accumulating wealth by investing in low-risk, high dividend paying stocks. The average yield on dividends over the last 80 years is 4.39%. This doesn't include the increase in the stock price either. Let's say for argument sake the stock price doesn't increase and you just receive 4.39% dividend. The compound interest formula is: M = P( 1 + i )n M is the final amount including the principal. P is the principal amount. i is the rate of interest per year. n is the number of years invested. M = 100 (1+.0439)12 I'll explain more on this tomorrow.
<div class="quote_poster">shapecity Wrote</div><div class="quote_post">There's no simple formula to it, and the best way for me to explain it would to use an individual example and then tweak it to apply to others. From my experience most people don't understand how to accumulate wealth. I used to be a financial planner for a wide array of people, and in most cases these people were very wasteful and uninformed with their cash flow situation. You have to start with the basic question. How much do you need to make every month to live? Food, rent or house payments, gas, car payment, car insurance, utilities etc. It's a simple question, but most people can't give you a straight answer. When you start having them write it all down, they are shocked when they find out they are spending more each month than they are bringing in. These people are like most Americans, living on credit and in debt. So my goal used to be getting people to be smarter with their money and to change their spending habits to fit within the proper lifestyle. The proper spending habit is to spend less than you make each month and the difference becomes your tool for accumulating wealth. Even if it's just $100.00 you can afford you can begin accumulating wealth by investing in low-risk, high dividend paying stocks. The average yield on dividends over the last 80 years is 4.39%. This doesn't include the increase in the stock price either. Let's say for argument sake the stock price doesn't increase and you just receive 4.39% dividend. The compound interest formula is: M = P( 1 + i )n M is the final amount including the principal. P is the principal amount. i is the rate of interest per year. n is the number of years invested. M = 100 (1+.0439)12 I'll explain more on this tomorrow.</div> I'm talking about people who don't even have a chance to worry about such petty things as this. You're saying everybody in the world can simply apply these financial concepts and have a good life. I'm talking about the people who's biggest worry is whether or not they're gonna get hit with shrapnel in their front yard. I'm not sure we're on the same page.
Such petty things? These petty things as you call it our what generate wealth. If wealth is a petty concept to you, then you're in the wrong thread. I didn't say everybody in the world can simply apply these financial concepts. I said the complete opposite... <div class="quote_poster">Quote:</div><div class="quote_post">There's no simple formula to it, and the best way for me to explain it would to use an individual example and then tweak it to apply to others.</div> Who are these people you're referring to living in fear of shrapnel? What part of the world are they from and I'll work out the solution for them?
<div class="quote_poster">Chutney Wrote</div><div class="quote_post">Darfur?</div> the people of darfur need to DIVERSIFY. hopefully, shape is being facetious, cause nobody can. we forget that most of the world still operates under an informal economy, where barter trumps currency and the capacity to save. plus, the stuff (e.g. milk) they barter is subject to high depletion risk, so their economy promotes consumption over security. btw shape, i'm trying to get a job as an investment advisor but no freakin callbacks except for edward jones.
<div class="quote_poster">deception Wrote</div><div class="quote_post">the people of darfur need to DIVERSIFY. hopefully, shape is being facetious, cause nobody can. we forget that most of the world still operates under an informal economy, where barter trumps currency and the capacity to save. plus, the stuff (e.g. milk) they barter is subject to high depletion risk, so their economy promotes consumption over security. btw shape, i'm trying to get a job as an investment advisor but no freakin callbacks except for edward jones.</div> What type of investment advising? Large coporations or just everyday people?
<div class="quote_poster">Chutney Wrote</div><div class="quote_post">Darfur?</div> <div class="quote_poster">shapecity Wrote</div><div class="quote_post">What type of investment advising? Large coporations or just everyday people?</div> anything, just trying to get my foot in the door. after i got my BA this past spring, i did my Canadian Securities Course (CSC) and now i'm applying everywhere. although, i would prefer to work with regular folks. fyi- the CSC is the prerequisite to work in the financial industry here in canada, i'm sure u guys down south have an equivalent as well.
I'm not sure how the job markets are in Canada, but in the US, the only places hiring are for part-time XMas workers. January is probably a better time to apply when companies figure out their budgets for the new year.
