Quote:
Originally Posted by SlowHabit
Anyone who doesn't think luck is the #1 factor for success should Google "The Ovarian Theory." For whatever positive personal trait that you have: work ethic, competitiveness, desire to be the best, etc, imagine if you were born in Africa (or any third world country where you aren't allowed to do anything that change the status quo) and see how far those positive traits get you. That's not to say you didn't earn whatever success you have achieved. You did. You outwork others. You out-smart them. You were at the place at the right time and you capitalize your chance. No one is denying what you did. But to not acknowledge that luck plays the biggest role in any human life is laughable. Here's a decent article: http://fellowsblog.kiva.org/2009/02/...arian-lottery/
As for financial freedom, I think it is within the mind. I don't have millions in the bank but I do feel I have reached financial freedom. I can do whatever I want to do. I'm happy with my life. I love what I do. I don't feel as if I don't reach X amount, I'll be sad. A few years ago, I definitely would have a different answer.
Of course, when it comes to the subject about money, you can't say that money isn't important if you don't have any. It's like saying banging hot girls isn't that fun if you haven't bang any 10s. So one day, I'll have millions in the bank. I know I will. And the only reason I'm doing it is for the scorecard and shut off anyone who likes to brag about their wealth. Also, I live a very frugal lifestyle with the occasional splurges so I don't need much else.
I think the thread title should be "What are the top 5 most common traits of people who have a lot of money in the bank?" That's way different than "financial freedom."
I understand your point, I really do. I almost agree with it, but a nagging part is bothering me. Let me ask you a question...
I work with a bunch of people who all pretty much got into a startup type situation. It worked out really well and wound up making a large chunk of millionaires.
Which part is luck? The fact that the job wound up paying a LOT more than similiar positions in other companies? If not, what about the people who were offered the positions first, but turned the job down due to being happy in their current jobs? Was that luck, that some people were willing to take a risk and jump into a startup-type situation and it turned out being great for them? If so, are the people who turned it down unlucky?
Is the #1 factor *really* luck? I'm lucky I'm born in the US, but wouldn't I be lucky if I was a billionaire in Russia? Aren't you just unlucky if you are born in an economically depressed place with no opportunities?
If you get a large group of people (300 million us residents) we know that an opportunity is going to arise for someone to be, say, CEO of Goldman Sachs. Of those 300 million people, we know that it is not a random draw, I'm not going to be the CEO of Goldman, neither are 99.9999 percent of the rest of the country.
Of, say, maybe the 2,000 people or less in the country qualified to be CEO of Goldman Sachs, is Larry Blankfein the lucky one? They all had an equal shot, but Larry got it? Of the 10 people. Of the 5. Between Larry and lets say, Tom. They were the two guys qualified. Was Larry the lucky one, and Tom was unlucky?
See what I'm getting at? I'm having a lot of trouble with expressing what I'm trying to say here, that's why I'm having this very long drawn out example. I hope it makes sense. Very interesting.