LogFAQs > #882661916

Darkman124 posted...

Clad posted...

most new millionaires from the last few decades were self made. IE no inheritance, no loans from parents, etc.

Sixty-seven percent of high-net-worth Americans are self-made millionaires, according to the survey. Only 8 percent inherited their wealth. One third of the millionaires surveyed were women and half of them made their own fortunes.

self-made is a bit of a misnomer here. while typically not inheriting their wealth, most of our so-called 'self-made' millionaires were born in upper middle class families who were able to enable their hobby/interest/business idea from an early age, allowing them the freedom to master it. all of them worked hard, but they were able to work hard at something with no initial payoff that paid off more down the line. most people can't do that.

http://archives.cjr.org/the_audit/made_from_scratch.php

the data is also far more skewed for billionaires, as shown in this link

that's a dishonest blog piece you just shared, bro. it literally complains about "just 35% of the Forbes 400 were poor or middle class"

uh, are you fucking kidding? 35% is huge. it shows that a large section of the wealthiest and most powerful people came from modest and very modest backgrounds.

and note that the link I shared applies to more than just billionaires - most millionaires over the last few decades were self made, IE they didn't get lucky with handouts or inheritances or familial loans or anything like that. they started from scratch.

you can try to spin it however you want, but at the end of the day just admit you've got an agenda that you're prioritizing over a truly unbiased understanding of what it means to be self made. sharing that link makes me think you're just posturing on this one.