“What do well-to-do or rich people own that makes or keeps them that way ?”
factories. that make… miniture factories.
i hear what you and everyone else are saying about net worth and tax benefits and yes i am uncertain about the stability of the markets.
i’m not suggesting that you blow your excess cash on power boats and concert tickets. but i do think that investing in more immediate and powerful vehicles/businesses such as real estate, entreprenurial endeavors, inventions, whathaveyou are more direct means of building wealth. the risks are obviously higher, but you control your own destiny, for better or worse. and allowing someone else, whether a fund manager or the institutional investors what manipulates the underlying assets of your fund, to have such control or influence over your life…
if a state run fund with all it’s regulations and conservancy cannot be trusted…
like flu and others that have amassed sizable retirement portfolios… if they had invested that money in real estate during the late 90’s instead of their 401, how would things be different for them today? without even bothering with price appreciation and just focusing on slum lord income…
all in all, i may be looking for a get rich quick bullet. or i may be gaining greater awareness of wealth and wealth creation. either way, i’m looking to be more proactive about it rather than simply relying on funds, pyramids, the best intentions of government, federal reserve and stock brokers…
