Posted on 10/04/2022 12:21:40 AM PDT by Jonty30
If Joe Smith, a McDonald's worker decided to start investing. He invests whatever he could and he teaches his children everything he learns and charges them to add to their knowledge and that their children continue, and so on.
While there is no guarantee, but is there a point in time this family might be join the ranks of the Rockefellers or Gates?
Well, you may get the discussion, but curiosity can never be satisfied, for the only thing you will get are conjectures that will run the gamut of answers from which to choose from.
But observation says not likely, as the wealth is usually only garnered by one person, which the relatives usually squander at some point down the lineage. However, from a different observation there is the Rothschild family. Their wealth seems to be perpetual, at least so far. But I think the longevity of the wealth line in a family, comes more from what the original creator of wealth invested in, more than anything else.
My grandfather dug graves.
My father put himself through college and became a successful engineer.
My siblings and I are all successful; engineer, CPA, a Vice President, a Director, and professional singer.
My nieces include an engineer, a doctor, and one is finishing her masters in Social Work.
My oldest is finishing his Bachelor’s, my middle child just started college, and my youngest (still in high school) landed an internship at an IT company in Dallas and will be heading off to college for computer design.
What do all of them have in common? Work ethic. A desire to reach a higher level than the generation before. A sense of honor, pride in the family name, and doing the right thing.
We learned that from our grandfather.
Values are destiny.
McDonald's had its initial public offering (IPO) on April 21, 1965, at $22.50 per share, and the stock price rose quickly to $30 per share on its first day of trading. One hundred shares of McDonald's stock at $22.50 in 1965 would have turned into 74,360 shares by March 1999 and be worth roughly $15,700,000.Jun 2, 2021
I agree with you that the values is the main thing.
If you have the right values and can teach those values to your children, they will most likely end up in a better position than you were able to do.
In general, the first wealthy generates works to create the wealth. The second generation will maintain.
The third generation will spend it.
90% or better, that’s generally how it has worked.
The assumption from most is that everyone is able to achieve their plans irrespective of God’s plan for us if we are smart enough the enough determination.
“The mind of man plans his way, But the LORD directs his steps” Proverbs 16:9
I understand that, but that wasn’t what the discussion was about.
Allegedly, I’m a descendant of a French Duke on my grandmother’s side.
Could explain my champagne taste and beer pocketbook.
The question was “Could Joe Smith and his descendants work to own the world?”. The answer is no, if it is not God’s plan. You and other have artificially narrowed the discussion because you did not include real life factors into the discussion.
But most Joe's have no clue.
That’s because I was doing hypothetical. If I wanted to include real life, I would have had to include a thousand other possible factors to make it work
.
HA!!....they own way more than that.
My parents grew up during the depression and were extremely frugal. We always ate well and had lots of toys, but my parents didn’t splurge on fancy clothes, cars, etc. They were very smart with their money.
One day, my Mom took the four of us (we were all very young at the time) to the bank to get some money for groceries. As she filled out the check, my older brothers started to argue, and she accidentally put the pen in her pocketbook. The teller notified her that she had the bank’s pen, my mom apologized profusely, and handed it to him. He refused to cash her check.
She went on another line to the other teller. When she got to the window, the teller informed her he doesn’t help thieves and to get off his line.
When my father came home to no dinner, my mom broke down in tears and told him what happened.
Dad loaded the whole family in the car. He went to the branch manager and closed multiple accounts. I will never forget the bank manager pleading with my father, but dad kept slapping another savings book on the desk and stating, “Close this one, too.”
He pulled several hundred thousand out of the bank. We went down the street and he opened up multiple accounts there. Then he took everyone out to dinner and handed my mom a bunch of money.
The next day, on the train ride to work, he told his friend, who worked at the corporate office of the bank, what transpired. His friend asked only one question. “What time did your wife come in?”
The tellers were fired that day.
I learned several important lessons that day over 50 years ago. Never judge a book by its cover. Be kind to everyone; you never know who they know. Don’t mess with my father; he will quietly destroy you. My parents were rich but you would never know it!
“I learned several important lessons that day over 50 years ago. Never judge a book by its cover. Be kind to everyone; you never know who they know. Don’t mess with my father; he will quietly destroy you. My parents were rich but you would never know it!”
Yep... Absolutely. That happened to me one time. I was buying a car for cash and the teller would not cash my personal check because of my appearance, I look like a bum. So Just told her “Fine... Then close my accounts.”
“Account(s) ?”
“Yes this one and also my business account”. When she saw the balance in my business account her immediate facial expression was priceless. She tried to apologize, I stood firm. A good lifelong friend I was talking to in line was right behind me. He overheard me and asked “What happened”, so I told him. As I was walking over to a desk to close my accounts he told me to stick around a minute. He walked up and told her... “I want to close all mine too”.
Fred was the richest businessman and ranch owner in the whole area... He just about owned that bank...
A double whammy.
Too bad she learned the hard way.
My dad would shake your hand.
Yes. There are a number of them.
My Dad was proud of us both... He knew Fred too. :)
Interesting statement about primogeniture. Thinking about it, you seem to be correct
You are so right. But now we have it so much better than previous generations at such a low price. At our fingertips we have access to all films, music, books etc that even emperors 100 years ago didn’t have. And for peanuts in comparison.
You can succeed materially without God. But not spiritually.
The Isealites were materially weaker than their neighbours but spiritual6far stronger.
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