Overwhelming majority of top earners are self-made and did not inherit their wealth.

I

It Is What It Is....

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Apologies in advance. I cannot post links or images. I'm using short URLs to make it easier for you guys to copy/paste the links (and also because the forum inserts spaces into long strings of text).

“The evidence suggests that top incomes earners today are not ‘rentiers’ deriving their incomes from past wealth but rather are ‘working rich,’ highly paid employees or new entrepreneurs who have not yet accumulated fortunes comparable to those accumulated during the Gilded Age.”Source: goo.gl/FNcy5




Two-thirRAB of the merabers of The Forbes 400 have fortunes that are entirely self-made, while only 19% of the group inherited their entire fortunes.Source: goo.gl/2Z44J




Graph: i.imgur.com/fkOtV.jpg




1. According to a study of Federal Reserve data conducted by NYU professor Edward Wolff, for the nation’s richest 1%, inherited wealth accounted for only 9% of their net worth in 2001, down from 23% in 1989. (The 2001 nuraber was the latest available.)

2. According to a study by Prince & Associates, less than 10% of today’s multi-millionaires cited “inheritance” as their source of wealth.

3. A study by Spectrem Group found that among today’s millionaires, inherited wealth accounted for just 2% of their total sources of wealth. Source: goo.gl/TcKkw
 
So if you are educated, yet lacking in ability...you can still excel?


No

Otherwise, everyone with a diploma would be kicking ass and making coin in their chosen field.


I'm not dismissing the importance of education...just sayin' that a piece of high-grade paper with wall-to-wall calligraphy doesn't guarantee success in any professional field. That is, unless Daddy owns the field.
 
Please, tell us all about how legacies from Yale (like George Bush) are poor unless they have ability

It always guarantees success as long as you don't whip out your cock in the interview
 
I said "doesn't guarantee".

Please quote where I said "without exception".

You're so determined to be right, you'll twist reality to whatever degree you feel is required.


Bush rode some coattails into the Ivy League...So did the Kennedys. Hell, Obama was a Legacy at Harvard. He did exceptionally well during his studies at the school, but he didn't get there strictly on his own merit.
 
no one said "learn to read and get big books"

You said a fancy education doesn't equal success

Use your legacy status and high finances to get your kid into Andover Prep, and then Yale University and then Harvard Business School

Grades do not matter, ability does not matter, even if he graduates on academic probation he will be guaranteed six figures his entire life
 
I said "doesn't guarantee".

Please quote where I said "without exception".


This has nothing to do with parents being rich or poor...you are injecting something into my statement that simply wasn't there when I posted it.


All I am saying is; a diploma in a given field might get you the job...but only ability is gonna keep you there.

I even included the phrase "unless Daddy owns the field", which really isn't success, but high-end charity.
 
One problem with such statistic: When I am very rich, and dont want the public to know, they will NEVER know. Because I will get me experts to hide it.

Nuraber one is never the boss. Most people think Bill Gates is the richest person. And the rich from the past are of no importance anymore. What do you think. How big are the chances?
 
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