Tuesday, March 20, 2012

10 Secrets of the "Capitalist Class" or the "Super-Rich Class" or the top 1% (Those who make more than $ 1/2 Million a year, or as some say, more than $350K a year)

From the link: http://beginnersinvest.about.com/od/wealthmanagement1/ss/capitalist-class.htm

(Read the full article from the link above to get a complete idea. This is just an extract).

The capitalist class represents the top 0.9% of income. Sometimes called the super-rich, members of the capitalist class often have incomes of at least $350,000 to $500,000 per year, which would require several million dollars in assets to generate. Since we know that more than 90% of wealth in the United States is not inherited, how did the men and women who make up the capitalist class get to where they are? What can we learn from them?

Before starting, remember: "A High Income Isn't Enough to Truly Join the Capitalist Class. It is perpetual high income / returns from investments that can make one truly Super-Rich".

  1. They Work on Projects that Pay Dividends for 25+ Years, Not a Single Paycheck
  2. They Diversify Income Sources as Well as Assets
  3. The Capitalist Class Prefers Passive Income Over Active Income
  4. The Capitalist Class Understands the Nature of Money
  5. The Capitalist Class Makes Its Own Luck
  6. The Capitalist Class Doesn't Care What the Market Does
  7. The Capitalist Class Understands Taxes - Very Well
  8. The Capitalist Class Thinks of Business as a Game
  9. The Capitalist Class Realizes Money is a Fungible Commodity
  10. Profile of the Capitalist Class below - "Stability".
Profile:
The best word to describe members of the capitalist class would be stability. They have been married to the same spouse, lived in the same house, and been in the same business for decades. They've diligently invested and built their assets over time. So, who is the average member of the capitalist class? According to government and private research data, the capitalist class:
  • More than 90% of capitalist class households consist of a Caucasian married couple where both spouses work and have children.
  • More than 90% did not inherit their money - they are entirely self-made.
  • Most own their own business and have lived in the same town for more than a decade. These businesses are unglamorous and include things such as HVAC, commercial plumbing, self-employed lawyers, accountants, and real estate investors.
  • More than 90% own their own home and have lived in it for years. Fewer than 7% rent or lease.
  • More than 90% graduated from college, but grades had no correlation with their financial success. In other words, students with a C- average were just as successful as those with an A average.
Check out the lives of the Super-Rich in the video below. And dream on! No one is stopping anyone from entering this class. Everyone is welcome, bro / sista :) I sure see myself being a part of the Rich-Class someday. No, it ain't day dreaming. It is hard work, smart work and ambition. But I am gonna be a benevolent Super Rich guy, doing good for the society. And always use fair means. Enjoy the video!

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