nether answer is right.
The rich are rich because they learned how to manage their money. They didn’t work any harder, if fact they probably worked far less physically demanding jobs and fewer hours than most poor people. BUT they saved and/or invested a lot of what they made instead of wasting it on frivolous crud.
This is why many poor lottery winners end up broke. Even a multi-million dollar windfall cant save them from their poor choices.
the person who earns 50 grand and saves 20 of it, is FAR richer than the person who earns 100 grand and spends 120.
If you dont understand that statment, you will NEVER be rich (or at least not for long)
I worked with a guy right out of college who bought a Formula Ford race car, owned very fancy leather jackets and other nice clothes, and couldn’t save a dime.
We worked the same field service engineering job. In five years, I had socked enough away to buy my first house.
I’ve always wondered what happened to that guy and if his spendthrift ways doomed him.
TAXES PLAY A BIG ROLE TO. Being in a conservative state also helps. TN has NO STATE INCOME TAX except for investors. SALES TAX and we run a surplus despite the LIBTARDS SPENDING ON CRAP.
First, I will say that while I don't consider myself "rich," I earn a nice income and along the way, I've learned how to stay disciplined and manage my money well. I've also stayed married to a wonderful wife who earns more than I do, and we are blessed, financially.
With my job, I may not exert myself physically, but I perform mentally strenuous work that makes me every bit as tired as someone performing more manual labor. It's impossible to go home and NOT think about my job in the evening or on the weekend. People that work for me, whose lives are impacted by my work, do weigh on my mind.
I was not born into wealth; my parents were very blue-collar and financially speaking, we were among the lower middle classes. My parents always hoped that I could go to college, but they had no experience that they could guide me in the right steps.
I spent 6 years in the military, and returned to college. I went after a STEM degree before they were called that. I didn't accumulate a lot of student debt; I didn't knock anyone up; I didn't make any life choices that would put me in a hole so deep that I'd be behind the rest of my life. I never took spring breaks, fall breaks, or even breaks in the summer...I worked my butt off and made sacrifices in order to get my degree.
I do agree that poor choices are made, often repeatedly, by people who can never seem to climb out of their financial holes. They throw good money after bad, they live paycheck to paycheck, and have nothing to show for their work, even late in life.