Have you done anything in your life to accumulate serious wealth?

[publicduende]

You also forget that "Home economics" were taught in U.S High Schools back in the 50's to 70's. It goes over budgeting, food preparation, doing laundry, doing grocery shopping, saving money, and the whole she-bang. It gives boomers and other Americans financial discipline and hone their frugality skills back in the days. Nowadays... it's a whole different story where U.S schools teach you about categorizing 63 different genders and how to be an under educated, brainwashed, obedient transexual deviant. Or turn women into entitled little whores whos aspirations is be a Youtube star or Onlyfans star. This generation of Americans are totally f*cked.

That's true. We never had this kind of subject in Italian schools, unfortunately. Whatever amount of "household management", we had to learn from our families, if lucky, else by trials and errors, the hard way.

I think the current generations, younger Millennials and GenZ-ers at least, are f***ed up on many more levels than just that of poor financial management. They have inherited a much worse world from their parents and grandparents. This world is much more complex and they have far less tools to face it, let alone fix it. That is probably why, despite been coddled by the school and family systems, they are generally not so ambitious: they probably know they can't expect much.

[Natural_Born_Cynic]

You also forget that "Home economics" were taught in U.S High Schools back in the 50's to 70's. It goes over budgeting, food preparation, doing laundry, doing grocery shopping, saving money, and the whole she-bang. It gives boomers and other Americans financial discipline and hone their frugality skills back in the days. Nowadays... it's a whole different story where U.S schools teach you about categorizing 63 different genders and how to be an under educated, brainwashed, obedient transexual deviant. Or turn women into entitled little whores whos aspirations is be a Youtube star or Onlyfans star. This generation of Americans are totally f*cked.

That's true. We never had this kind of subject in Italian schools, unfortunately. Whatever amount of "household management", we had to learn from our families, if lucky, else by trials and errors, the hard way.

I think the current generations, younger Millennials and GenZ-ers at least, are f***ed up on many more levels than just that of poor financial management. They have inherited a much worse world from their parents and grandparents. This world is much more complex and they have far less tools to face it, let alone fix it. That is probably why, despite been coddled by the school and family systems, they are generally not so ambitious: they probably know they can't expect much.

What do they teach in Italian school nowadays? The same "Social Justice", "pro LGBTQ" kaka they teach in America?

I mean the current generation is confused and helpless. They know that the Generative AI will replace most of the future jobs, and what they learn in School is pretty much useless and their role models are youtube influencers and social media influencers.

The Current generation also has been brainwashed by their parents and their school system to go to University and get high powered white collar jobs and ignore all the blue collar trade jobs. The irony is that those high powered white collar jobs are directly under threat by Generative A.I and those blue collar trades jobs will be safe at least in the foreseeable future until humanity figures out how to develop advanced robots.

[Natural_Born_Cynic]

You can try the British stock market or American Stock Market.
I seen couple of high yield British stocks and ETFs but I know that the British economy is in the shitter right now... you can always buy them low and wait for the British economy to recover.. I don't know if that can happen since the UK is going down the crapper.

Despite what many people on the forum say about America sucks, the US stock market is one of the most robust, biggest and influential one out there. I am currently investing right now, and getting nice dividends every month on top of my salary. I can't tell you my numbers, portfolio and results might vary person to person. I am not qualified financial advisor, but just an investor.

However, you really have to have the financial discipline and really pinch your pennies and send all of your available income to your brokerage account for couple of years. If you are up for the task, With compounded interest and reinvesting your dividends and various other factors, you can become a millionaire in 5 to 30 years depending on how much grit you have and how much you can sacrifice.

This is my method. If you want, you can try on your own and do your own research.

Well, quite! That is a good example of such a method where you can make some money, maybe gain wealth, people have - I read about some 16 year old girl who became wealthy from doing this but like you say there - there is a learning curve, risks and no guarantee that you'll get that wealth - and it has the same sacrifices - if you said to Joe Average - 100 dollars to your brokerage account or 100 dollars for a Friday night out down the pub and a chance to get laid - Joe Average is going to pick the latter! I actually have a mate who trades in gold and he has offered me lessons on how to do but I have no real interest in it - I don't know why - but he is doing all right out of it so I know it works but I can't say I would be interested in learning all about it - it looks like you're doing well out of it - keep going and good luck!

Thank you. Believe me, it's bloody hard when I have to send most of my discretionary monthly income to my brokerage account. I could've spent that money on living in more fancier flat, shiny new electronic devices, a new BMW, eating out, designer clothes, women and others just like your average American blokes out there. Everybody at my Korean church are flexed out with designer clothes, Mercedes, BMWS, expensive flat down the Hudson River. However, they are the ones who will end broke in the future while I have my millions in my account spitting out dividends.

So what's stopping you my friend? You said a 16 year old girl from England did it. Her parents must've given her an allowance and she deposited in her piggy bank or her parents might set up a brokerage account for her. You can always invest in an index fund with follows the entire market or Broad range ETFs if you don't like the risk(dividend might be lower but the stock price will grow over time). Or you can invest in U.S or UK government bonds if you don't like the ebb and flow of the stock market. Or I don't know if they have in the UK... just park your money in a "high savings yield account" ranging 5% interest rate. They have plenty of those in the U.S. I don't know about the UK.

The reality is making loads of money isn't a passion of mine, it's yours which is why when you say it's bloody hard to invest your present earnings into possible future outcomes - it's not an easy path and there's no guarantee and that's fine because there's no guarantee in very few things but the stock markets and your wealth fund is what gets you up in the morning and that's great but it would never get me up in the morning in excitement of a new day.

Frank made some great posts here about his wealth - it's nice to have that wealth but does Frank need it? His passions aren't speedboats or private aircraft collections - what I know about @Shemp is that he likes hiking, going abroad, his biggest expense are young ladies but he doesn't need six million dollars to do that - my passions are being healthy, doing weights and travelling - I don't need millions of dollars to do what I want and anything I want to buy I can without thinking about it too much - like yesterday I paid twenty dollars for a box of protein bars but if I was paying out for mooring fees for a yacht I would probably would look into making money from stocks and shares. As it happens, I am saving for a flat in South America so I will be mortgage free in ten years and the most expensive thing in that flat will be a versaclimber!

Frank also said something that is important - all of us here were born into and are within the top ten percent bracket of global wealth and if we're not we're definitely in the top twenty percent and not only that, we have all the trappings of the first world that someone born in Gabon will never have - if they want to visit Paris they will need to go to the French Embassy in Gabon and if they don't have piles of money their tourist visa will be rejected but I can go to France wherever and whenever I want - that's true wealth - only the very richest of Gabonese society could do something as simple as that - it doesn't matter how intelligent or resourceful they are, they're not going far unless they're very lucky.

Most of us were born lucky anyway, do I need more? Not really because my interests and needs don't align that way - everything I want is within reach, I have many things money can't buy - nationalities, health, peace of mind and I get to do what I like - that's wealth right there - today I did a ten mile hike and did it in just over two hours which is pretty good going - a beautiful day for a hike too and that's another thing - I am 52 now, I might have another 30 years or so left - do I need loads of money now? Maybe medical bills if I get some kind of cancer or 24 hour care if I have a stroke but otherwise, I don't really need more than what I have now.

That's quite true. Money isn't everything and I fully respect your perspectives and choices. I'm not telling you to do anything at all. I'm just answering your questions with best of my ability and my experience. You wanted people to "outline their plan of accumulating their wealth", so I have answered your question. It seems that you are having some sort of an epiphany with yourself when you read the article about that wealthy guy saying "he doesn't deserve his wealth".

Your quite wrong about me. My passions are drawing, history, geopolitics, and video games. I am bit of a liberal arts guy, not one of those STEM heavy East Asian "troglodytes" that Winston is talking about. I'm in the Logistics Industry. Freight Forwarding to be exact. I rather work in the American comic industry drawing overpowered arseholes wearing spandex tights( Batman, Superman, etc), but it's difficult to get a job there because you have to know someone there. I do have good artistic skills, but making money off of it... too much work with paltry financial reward right now.

I have to work for a living to a job I don't really enjoy. You think I enjoy sending 1,500 USD to 2,000 USD or more to my brokerage account at the end of every month? Nope. But I have to because it's the only way to protect myself from the unfortunate events in the future such as getting fired suddenly or unable to find work because your job is automated by Generative A.I. Then again, your also right. I do enjoy a steady stream of dividends every week on top of my main salary and that keeps me happy and helps me wake up every day in the morning.

Ultimately, it's up to you. I'm just merely giving you a suggestion. The ball is in the court. It's your decision to take it or not.

If you ever decided to change your mind, there is always "British American Tobacco" (Ticker Symbol:BTI) Dividend yield 9.65%. You can put some of your money in British Fags I am just joking. To an American, Fag is a bad word meaning gay guy, but For British Fag just means cigerrates. It's a stock related joke.

You could always do real estate like what your planning to do with a flat in Colombia.

[gsjackson]

You also forget that "Home economics" were taught in U.S High Schools back in the 50's to 70's. It goes over budgeting, food preparation, doing laundry, doing grocery shopping, saving money, and the whole she-bang. It gives boomers and other Americans financial discipline and hone their frugality skills back in the days. Nowadays... it's a whole different story where U.S schools teach you about categorizing 63 different genders and how to be an under educated, brainwashed, obedient transexual deviant. Or turn women into entitled little whores whos aspirations is be a Youtube star or Onlyfans star. This generation of Americans are totally f*cked.

That's true. We never had this kind of subject in Italian schools, unfortunately. Whatever amount of "household management", we had to learn from our families, if lucky, else by trials and errors, the hard way.

I think the current generations, younger Millennials and GenZ-ers at least, are f***ed up on many more levels than just that of poor financial management. They have inherited a much worse world from their parents and grandparents. This world is much more complex and they have far less tools to face it, let alone fix it. That is probably why, despite been coddled by the school and family systems, they are generally not so ambitious: they probably know they can't expect much.

As far as I know, only girls ever took home ec. back in the day, but our Depression-era parents certainly imparted the lessons of fiscal frugality to their male offspring, for the most part.

PD, you must be teleporting into an American high school, but courteously have understated the case. The vast majority of these kids have absolutely nothing going for them, and no future. But at least the schools lately aren't forcing them so much onto an academic track ("no child left behind") that they're completely unsuited for. They have all kinds of CTE (career and technical education) courses in the two high schools where I live. You can even take a class in floral arrangement.

[Natural_Born_Cynic]

You also forget that "Home economics" were taught in U.S High Schools back in the 50's to 70's. It goes over budgeting, food preparation, doing laundry, doing grocery shopping, saving money, and the whole she-bang. It gives boomers and other Americans financial discipline and hone their frugality skills back in the days. Nowadays... it's a whole different story where U.S schools teach you about categorizing 63 different genders and how to be an under educated, brainwashed, obedient transexual deviant. Or turn women into entitled little whores whos aspirations is be a Youtube star or Onlyfans star. This generation of Americans are totally f*cked.

That's true. We never had this kind of subject in Italian schools, unfortunately. Whatever amount of "household management", we had to learn from our families, if lucky, else by trials and errors, the hard way.

I think the current generations, younger Millennials and GenZ-ers at least, are f***ed up on many more levels than just that of poor financial management. They have inherited a much worse world from their parents and grandparents. This world is much more complex and they have far less tools to face it, let alone fix it. That is probably why, despite been coddled by the school and family systems, they are generally not so ambitious: they probably know they can't expect much.

As far as I know, only girls ever took home ec. back in the day, but our Depression-era parents certainly imparted the lessons of fiscal frugality to their male offspring, for the most part.

PD, you must be teleporting into an American high school, but courteously have understated the case. The vast majority of these kids have absolutely nothing going for them, and no future. But at least the schools lately aren't forcing them so much onto an academic track ("no child left behind") that they're completely unsuited for. They have all kinds of CTE (career and technical education) courses in the two high schools where I live. You can even take a class in floral arrangement.

I know it's pretty random, but did you know that Italian Americans and Black Americans went to the same school during the Jim Crow, Segregation Period?

American High School was pretty much dogsh*t back in the late 2000's. I went to one of those upper middle class New Jersey General High Schools surrounded by suburbia. Back then, High School in Northern Jersey is considered one of the best in the nation in ranking. I didn't learn whole a lot except Shakespeare, 1984, Geoffrey Chuacer, and Beowulf. I don't remember much except those perhaps because I'm a literature guy and I had a great teacher.

I should've dropped out, get my GED, go to trades school, get a welding, plumbing, mechanic job, and travel to Saudi Arabia or Austrailia for more money. You can make 300k operating mining equipment in Austrailia. You can make more than doctor there who went through 8 years of schooling and 3 year residency.

Now I heard that American High Schools started implementing Social Justice, LGBTQ, Common Core, and Critical Race Theory nonsense in their curriculum. It's all politically motivated and not about educating students about the real world. All the good classes such as Personal Finance, Home Economics, Business classes are gone now.

[publicduende]

What do they teach in Italian school nowadays? The same "Social Justice", "pro LGBTQ" kaka they teach in America?

I mean the current generation is confused and helpless. They know that the Generative AI will replace most of the future jobs, and what they learn in School is pretty much useless and their role models are youtube influencers and social media influencers.

The Current generation also has been brainwashed by their parents and their school system to go to University and get high powered white collar jobs and ignore all the blue collar trade jobs. The irony is that those high powered white collar jobs are directly under threat by Generative A.I and those blue collar trades jobs will be safe at least in the foreseeable future until humanity figures out how to develop advanced robots.

I really don't think Italian schools are that woke. Some of them, less than 30%, have sexual education still as an "experimental" thing. Our schools are immaculate compared to the absolute shite that goes on in countries like France, Germany and...for the love of God, BELGIUM!

I don't even think most kids of today know what generative AI is or does. And that's how it's supposed to end. Most people die exactly because they don't know how to live.

[publicduende]

As far as I know, only girls ever took home ec. back in the day, but our Depression-era parents certainly imparted the lessons of fiscal frugality to their male offspring, for the most part.

Not surprising...you had solid Great Generation parents who probably were kids during WW2, when the US wasn't nearly as devastated as Europe, yet times were tough and sacrifices were needed across the board.

PD, you must be teleporting into an American high school, but courteously have understated the case. The vast majority of these kids have absolutely nothing going for them, and no future. But at least the schools lately aren't forcing them so much onto an academic track ("no child left behind") that they're completely unsuited for. They have all kinds of CTE (career and technical education) courses in the two high schools where I live. You can even take a class in floral arrangement.

Not really. It's a situation that's very common everywhere, especially in the Anglophone countries. I lived in the UK for more than a decade and, even though I do not have kids, I heard friends and colleagues complaining about exactly that. About the "no child left behind" dogma, as a friend of mine wisely put it, it also means "no child propelled forward". Or, "aurea mediocritas", as Romans used to call it.

[Natural_Born_Cynic]

What do they teach in Italian school nowadays? The same "Social Justice", "pro LGBTQ" kaka they teach in America?

I mean the current generation is confused and helpless. They know that the Generative AI will replace most of the future jobs, and what they learn in School is pretty much useless and their role models are youtube influencers and social media influencers.

The Current generation also has been brainwashed by their parents and their school system to go to University and get high powered white collar jobs and ignore all the blue collar trade jobs. The irony is that those high powered white collar jobs are directly under threat by Generative A.I and those blue collar trades jobs will be safe at least in the foreseeable future until humanity figures out how to develop advanced robots.

I really don't think Italian schools are that woke. Some of them, less than 30%, have sexual education still as an "experimental" thing. Our schools are immaculate compared to the absolute shite that goes on in countries like France, Germany and...for the love of God, BELGIUM!

I don't even think most kids of today know what generative AI is or does. And that's how it's supposed to end. Most people die exactly because they don't know how to live.

As you have read posts about America from Winston, many others and even from myself, Schools in America are politically corrupt and full of sh*t just like schools in Germany, France, and Belgium. It's such a tragedy. However, I'm quite glad schools in Italy hasn't been affected by such plague of the minds. I love most Italian people and culture, I wouldn't want it to be "defiled" by the globalist "Woke" pro LGBTQ plague.

Well, sooner or later those kids will have to know what generative A.I does because, A.I is starting to replace some of the jobs in Silicon Valley and others, slowly creeping into the white collar workplaces. Their parents might be laid off by that A.I craze.

Ironically, the once disregarded blue collar trades jobs will be immune to the mass lay offs and automations in the foreseable future unless the scientists have figured out how to make advanced robots that can do the work of a handyman.

[Natural_Born_Cynic]

As far as I know, only girls ever took home ec. back in the day, but our Depression-era parents certainly imparted the lessons of fiscal frugality to their male offspring, for the most part.

Not surprising...you had solid Great Generation parents who probably were kids during WW2, when the US wasn't nearly as devastated as Europe, yet times were tough and sacrifices were needed across the board.

PD, you must be teleporting into an American high school, but courteously have understated the case. The vast majority of these kids have absolutely nothing going for them, and no future. But at least the schools lately aren't forcing them so much onto an academic track ("no child left behind") that they're completely unsuited for. They have all kinds of CTE (career and technical education) courses in the two high schools where I live. You can even take a class in floral arrangement.

Not really. It's a situation that's very common everywhere, especially in the Anglophone countries. I lived in the UK for more than a decade and, even though I do not have kids, I heard friends and colleagues complaining about exactly that. About the "no child left behind" dogma, as a friend of mine wisely put it, it also means "no child propelled forward". Or, "aurea mediocritas", as Romans used to call it.

Yeah, I heard that the UK'S educational system is no better than America's education system. I went to High school during the mid 2000's in a high ranking surburbs. I didn't even learn anything and had to learn everything on my own. Fortunately there were no "Woke", Social Justice crap yet. Community college, university, the same thing except you will be saddled with 30k or more in student loan debt.
American education system is quite useless.