How do you get super rich?

Discussion in 'Investment Strategy' started by Tim86, 14th Aug, 2016.

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  1. Tim86

    Tim86 Well-Known Member

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    Hmmmmm interesting point.
     
    Tim86, 14th Aug, 2016
    #21
  2. datto

    datto Well-Known Member

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    Property development.

    It has worked for many rich people......Harry T, Alan B, Christopher S, Frank L and datto (well, not just yet).
     
    datto, 14th Aug, 2016
    #22
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  3. D.T.

    D.T. Specialist Property Manager Business Member

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    "When everyone is digging for gold, sell shovels"
     
    D.T., 14th Aug, 2016
    #23
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  4. Lizzie

    Lizzie Well-Known Member

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    Damn straight!
     
    Lizzie, 14th Aug, 2016
    #24
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  5. MTR

    MTR Well-Known Member

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    You don't have to be a big time developer to become rich, just get the formula right and its not hard and then keep doing it, before you know it you will build cash flow streams and create wealth at the same time.

    MTR:)
     
    MTR, 14th Aug, 2016
    #25
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  6. datto

    datto Well-Known Member

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    Exactly, but I'm afraid of getting the formula wrong!
     
    datto, 14th Aug, 2016
    #26
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  7. Skilled_Migrant

    Skilled_Migrant Well-Known Member

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    http://grattan.edu.au/wp-content/uploads/2015/12/834-Rising-inequality-in-Australia.pdf

    Primarily rent seeking from political affiliations and inefficiencies (above study from 2009) which can take following forms:
    • Politically mediated taxation structures for various incomes and wealth. This forum is a very good example of taxation exploitation and its continuation, even though it benefits a minority.
    • Bureaucratic omissions and commissions which leads to rent seeking. E.g. medical cartels, quarantine restrictions etc which become politically difficult to dislodge.
    • Direct political interventions. E.g.Mining concessions, planning exemptions, and local permits for activities like property developments.
    Richest Australians 2009 by category
    upload_2016-8-14_18-58-39.png

    About half of our super-rich spend their efforts on activities where local political decisions determine the winners –decisions about who gets to build which property where, who gets
    access to favourable mining concessions, and so on.     To illustrate:
    Crown training scheme for retrenched workers a 'rort'

    For the latest BRW rich list.
    BRW Rich 200 List 2016
     
    Skilled_Migrant, 14th Aug, 2016
    #27
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  8. Corey Batt

    Corey Batt Well-Known Member

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    To have an exceptional results, you not to put in an exceptional effort. Opportunity and outcome are balanced constantly - if something get's too easy returns will dwindle, likewise if something is 'difficult' as a barrier of entry, once in you're likely to have exceptional results.

    Buying property in itself is easy - doing it strategically with ongoing persistence to continue growing your asset base and supercharging it with a holistic approach to your finances in general will get you to that next level.

    It's not all beer and skittles, this game of financial independence.
     
    Corey Batt, 14th Aug, 2016
    #28
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  9. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    What is "rich"?

    ta
    rolf
     
    Rolf Latham, 14th Aug, 2016
    #29
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  10. MTR

    MTR Well-Known Member

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    hehe,

    damn you, I knew you would ask...lol....I am sure there is a thread on this one:)
     
    MTR, 14th Aug, 2016
    #30
  11. Joynz

    Joynz Well-Known Member

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    Quite a few (the majority of those I clicked on randomly) of those on the 2016 list actually have benefited from inherited or gifted wealth worth millions.
     
    Joynz, 14th Aug, 2016
    #31
  12. lewy89

    lewy89 Well-Known Member

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    You take everything you own to the Casino each and every day !
     
    lewy89, 14th Aug, 2016
    #32
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  13. dabbler

    dabbler Well-Known Member

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    And only back the winners, avoid the losers..... :)
     
    dabbler, 14th Aug, 2016
    #33
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  14. dabbler

    dabbler Well-Known Member

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    rule no #1 do not sample all the merchandise !
     
    dabbler, 14th Aug, 2016
    #34
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  15. Tim86

    Tim86 Well-Known Member

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    So simple! :)
     
    Tim86, 14th Aug, 2016
    #35
  16. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    and

    the solution is ?

    ta
    rolf
     
    Rolf Latham, 14th Aug, 2016
    #36
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  17. Heinz57

    Heinz57 Well-Known Member

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    I think I am rich. Not sure what super rich is. I do know I have let a lot of money trickle through my fingers through being young and stupid. But as I get older I realise it's not about money but about how much time is left to enjoy one's wealth
     
    Heinz57, 14th Aug, 2016
    #37
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  18. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Work smart - not hard (cliche I know - but something I strongly believe). The world is full of opportunity - take advantage of the times we live in.

    Cheers

    Jamie
     
    Jamie Moore, 14th Aug, 2016
    #38
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  19. D.T.

    D.T. Specialist Property Manager Business Member

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    How do you plan to use this info on the road to your goals?
     
    D.T., 14th Aug, 2016
    #39
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  20. bob shovel

    bob shovel Well-Known Member

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    I'll read between the lines but what they're saying is if your not half super rich now or born into you won't make it :D
    images (3).jpg
     
    bob shovel, 14th Aug, 2016
    #40
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