How much does luck play in creating wealth?

[brig2221]

There is no doubt in my mind that luck has played a major role in whatever successes I have had in my life financially.

If my Father had not brow beaten me all throughout grade school and high school, beating into me (figuratively speaking of course) the importance of education, I never would have made it into college. That said, I barely made it in as it was.

I always tested high, but completely lacked any sense of importance or urgency when it came to schooling. This did not change until I finally figured it out about half way through college. I had a much higher GPA in college than I ever had in high school. After that, everything I have accomplished was through my own hard work.

That said, had I not had a Father hell bent on keeping me on the straight and narrow, I NEVER would have made it on my own.

In summary, my current financial success is of my own doing (not luck), but I never would have made it to this point if not for my Father (extreme luck).

[syracusa]

I won't buy luck as a factor.

I do. I vote for "both".
One without the other will end the story of "building wealth".

[Gailete]

I don't believe in luck period.

People who are born into money, may seem fortunate, but they may also never know the joy of working hard and of a job well done.

Many people who are 'down on their luck' have failed to plan for any stages of their lives, always assuming that someone or entity (the government) will take care of them.

People are capable of making choices and for many it is the wrong choices one after another that ends them up where they are and good choices one after another end people up like the poster with 3 years income available. Yes, accidents happen, people get sick, etc. but those who are already living a financial lifestyle based on commonsense will still have abilities to help them figure out what to do and how to handle things when life goes wrong.

[scfr]

I'm also in the "both" camp. A new favorite quote of mine sums up my philosophy on the luck vs. hard work question:

"Destiny might lead us to the path, but the rest is up to us."

I am certainly willing to take credit for my desire to better myself, for recognizing good opportunities, for setting goals, and for working hard to achieve them.

However, I cannot deny the role luck has played in my life:

- I am lucky because I was not born without a debilitating mental illness, physical disability, or developmental disability.

- I am lucky because I was born where I was. If I had been born in the Congo, North Korea, etc. I would not be where I am today.

- I am lucky because I was born to a middle-class parents who valued education.

My life has not been perfect, but I know to be grateful for what I have been given out of sheer luck and not because of anything I did to deserve them.

[Seeker]

Old Time Fairy Tale ~ Luck and Wealth

Many people who are 'down on their luck' have failed to plan for any stages of their lives, always assuming that someone or entity (the government) will take care of them.

People are capable of making choices and for many it is the wrong choices one after another that ends them up where they are and good choices one after another end people up like the poster with 3 years income available. Yes, accidents happen, people get sick, etc. but those who are already living a financial lifestyle based on commonsense will still have abilities to help them figure out what to do and how to handle things when life goes wrong.

Anyone's best laid plans can go to waste in a second of chaos.

The victim of an automobile accident that totals a car drivers auto, and demolishes that person's ability to work and takes away "good health" forever?

Yes, to have everything financially in place helps a lot. But you know, even a person's 3 years expenses saved up would only last 3 years if something of a catastrophic nature were to happen.

It's not always people's choices that ruins their lives.... unfortunately it can be other people's choices that affect our lives as well. No man is an island. No person has 100% full control over everything in their lives.

[maat55]

Sometimes, coming from an affluant family has it's downfalls. Some kids become reliant on the lifestyle they were raised in and use all of their resources to keep it.