Just because you inherit some capital doesn't mean you are actually able to use it to make more. Actually, most people can't, meaning the only thing they can do is spend it. How pathetic is that?
If you count success in life as buying a house with money you were given, great. But that isn't success. I don't even know what that is honestly.
The middle class is disappearing. Either you know how to make money (and that's not by working a job) or you don't. If you don't, you'll eventually be replaced by software, or a robot, or your job will be optimised away, or you will have to compete with 50 other people who want the same job because less jobs will be available in the future.
The only thing that isn't disappearing is having great ideas. Great ideas, combined with an interest in executing, generally lead to freedom in life and (some) wealth.
> Just because you inherit some capital doesn't mean you are actually able to use it to make more. Actually, most people can't, meaning the only thing they can do is spend it
It really depends on how much you inherit. If you inherit a million dollars, yeah, it's easy to spend it all. If you inherit a billion, it's not hard to sit on that money and live off a fraction of the earnings. Which is why major familial wealth tends to stick around for generations. (That and the connections that major wealth can provide.)
Sure. But not many people in the world are worth a billion. There aren’t THAT many UHNWIs globally (~187k). But there are a lot of millionaires.
My personal opinion is that most people should be able to make $100-200k on their own online, doing something they love. If you actually start looking with what people are making money with, it's pretty interesting. This can range from a recipe subscription to a newsletter, or something completely different.
Will it be easy? No. Will you be able to live a free life? Yep.
If you count success in life as buying a house with money you were given, great. But that isn't success. I don't even know what that is honestly.
The middle class is disappearing. Either you know how to make money (and that's not by working a job) or you don't. If you don't, you'll eventually be replaced by software, or a robot, or your job will be optimised away, or you will have to compete with 50 other people who want the same job because less jobs will be available in the future.
The only thing that isn't disappearing is having great ideas. Great ideas, combined with an interest in executing, generally lead to freedom in life and (some) wealth.