Are the rich lucky or do they work harder than the rest of us?

[dojo]

Many of the people who made it big were NOT rich as kids, so there's something called work they really had to put into it. I don't believe in luck, I do think that many people can achieve some good results if they were to put in the time and effort and stop finding excuses. I come from a poor family and yet I managed to create a business that works and feeds me and my family. I'm not rich, but we are doing well. Of course, most people who know me, consider me lucky, failing to understand that I have put in 10h/day at least (every day) for the past 12 years just to grow my skills/business.

[bUU]

The concept of "deserving" something (which is often tied up in discussions where matters of luck, natural ability and hard work are substantial considerations) is generally aligned in common sense with having worked for it, and so having it come some other way, whether it is through natural ability or through luck, is regarded the same.

If you and I both started widget businesses at the same time in the same town [and worked at it just as hard as each other] and after a year or two, one of us had a thriving business and the other one was broke and had to shut down, are you saying the only difference would have been one of us getting lucky?

That's one possibility and enough of one that making a disparaging assumption about the work ethic of the one that didn't succeed would be inappropriate.

[hamchan]

Agreed Buu. Although I believe it's probably rare for people to achieve wealth without at least some period in their life of hard work (not counting those who married in or were born in) that does not mean that poor work ethic is what separates the wealthy from the other 99%. There are so many factors, most of which we have no control over. Someone with an IQ of 80 will never become a doctor or lawyer or CEO. Most people with disabilities struggle just to put food on the table, regardless of their work ethic. Women statistically still make one quarter less than men, even though they are going to college more. Women of color make less than half than white men. I don't believe that anyone working multiple jobs doesn't work hard and yet so many who do so continue to struggle. Just working hard is not enough.

[bjl584]

I know a lot of people that work very hard, but they struggle with money constantly. Part of their problem is that they just can't manage money. They spend every dollar they make and then some. People come to this forum all the time with that very same problem. Some of them make minimum wage and others are making six figures. Not saying that good money management is what separates rich from poor, but making sound financial decisions and sound life decisions in general would definitely help to lift a lot of people up.

[hamchan]

Money management skills still only help so much. If you don't make enough to take care of your basic necessities, or if.emergencies outpace your ability to save for them, or expenses go up more quickly than your income does... Chronic medical issues are a huge problem for many families as well. You can do everything possible to contain medical expenses but the amount of control you have over these expenses is typically negligible. You can't build wealth or even really save much if you are constantly bleeding money on medical care. You just can't. Then when you consider the fact that poor people and minorities tend to have more chronic health issues in this country, you've got a really big problem.

I am not saying this is a reason not to work hard. It's precisely because I work hard that this idea offends me so much. I make over 3X what I did six or seven years ago, but my standard of living is actually worse now.

[youngblud]

I remember only being able to afford bacon ends and rice in college.

Desperation was a huge driving factor!
You just get tired of scraping by.