8/9/2013 2:45 PM ET|
Are you destined to be wealthy?
Your potential financial future can be divined from these demographics and data.
Work hard, invest prudently, stick to a budget.
That’s the kind of useful advice a high school commencement speaker might share with new grads as they prepare to venture into the world.
But the cold, hard truth is that even the most conscientious and industrious individuals sometimes stumble and fall, while others seem to glide through life for no other reason than that they were born in the right place, went to the right schools and inherited the right genes.
Click through to the next pages to see some of the factors that could determine whether you are likely to enjoy a life of luxury.
VIDEO ON MSN MONEY
But really my Dad was successful. I got my engineering degree and at 56 I'm one of the +$116k people. My children are finishing their degrees an will also be top 10%. And inherit granddads and my money.
I think a lot of the lack of upward mobility as measured by a lot of these studies is more of a reflection of a willingness for those raised on little to settle for less. Most of us could make a few extra dollars if we really wanted to, but opt for extra free time. We all settle at some point. People raised poor are simply more likely to settle for less.
The morals taught to children have a lot to do with it, too. Many people (and religons) essentially equate greed (and wealth) with evil. You can't move from the bottom rung to the top without a bit of greed...
Free car elevators for everyone!
and i made 10% -----you do the math ----my work in camp was for 8 weeks ---now do that math annually---- 2 months work ---10 months OFF
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