As a person whose life-goal is to be reach the upper echelons of finance, I don’t like a lot of what I hear from people on this subject. It’s also safe to assume that most of you reading this are entrepreneurs who are working towards goals of opulence. Usually when the subject of the rich and giving back is brought up, this is when people become beggars and victims. People actually believe that the rich should give all their money to the poor. What kind of sense does that make?
FYI: I do understand that there are some wealthy individuals that are just as parasitic as some of the beggars but this isn’t about those people. This is about those who have amassed their fortunes by offering value to the people whom they serve. You can also say that this is about those who have amassed their fortunes by not violating the rights of others. Now let us continue.
Let me get this straight — the rich, who set goals and worked hard to get where they are, are supposed to give it all away to a group of people who have the same opportunity but don’t exercise it? The people who are asking for the hand-out — where were they when the rich guy set a goal and everyone laughed at him and told him it’ll never work? Where were they when he was working 16-20 hours a day on his business? Where were they when he would lock himself up in his home or in the library devouring book after book to quench his or her thirst for knowledge? Where were they when he dealt with obstacles and minor setbacks that were so severe that it inflicted lots of pain and agony? They were nowhere to be found. In fact, the were most likely the ones making fun of him during those times. The whole notion that a person is supposed to work their ass off toward their goal, and give away the majority of their reward to people who have the same opportunity but fail to use it is B.S. If you live in America, then I’m sure you know that’s how most people think. Instead of working for what they want, they choose to harass the wealthy.
Even recently in America, people have been bitching about the rich not paying taxes. But here’s the thing — if the rich are directly donating money to schools, hospitals, roads, etc., why should they pay taxes on top of that? What about billionaire Paul Tudor Jones’ Robin Hood Foundation in which he helps inner-city youth? By the way, Mr. Jones has been working with under privileged youth since the 80’s, before he reached billionaire status. But I guess he’s supposed to pay a high amount of taxes too, right? Despite the fact that he devoted not just millions of dollars to this cause, but his time. We hear about people like Oprah, Ted Turner, Bill Gates, Warren Buffett, etc., people who donate BILLIONS OF DOLLARS. But, I guess they’re supposed to also pay high taxes too, right? Despite the fact that they’ve already given away billions of dollars. A lot of the wealthy also donate to good causes but choose to do so in secrecy because they aren’t seeking publicity for what they’re doing. The first thing someone may say is, “why not donate majority of their earnings since they can never spend it all?” My answer to that is: For the same reason that you receive your paycheck and don’t give away the money you have left over after paying all of your bills.
Here’s another interesting thing. Several people have asked me, “when you get to where you want to be, do you plan to give away your fortune to the poor?” My answer: NO. Why would I bother setting a goal, working hard off to achieve it, just to give it all away? That would be stupid. Give it away so the others can live the life of their dreams off of my hard work while I have nothing, right? Don’t get me wrong, I WOULD donate money to several causes. There are stories I see and hear about all the time where I wish I could step in and help people. We’ve heard recent stories about the floods, earthquakes and tornadoes destroying places, and people having to rebuild their whole lives. We hear about people who are sick and can’t afford a life-saving medical procedure. We hear about the parents who are working their butt off to provide for their kids but are struggling….and the list goes on. Of course I plan to step in and do a lot of helping out in those types of situations. My issue here is with the idea of donating to that part of society which contains able bodied people who choose to be lazy and harass others for what they’ve worked hard to achieve.
Here’s something I also find really interesting. When people speak of the wealthy and them donating, they always speak in terms of monetary donations. No one ever stops to think that donations could also come in the form of a successful person taking the time to teach others how they succeeded. Personally, my idea of donating for the most part would be giving away copies of the books I read which taught me how to create what I have. Some of you are saying, “What good is giving a person a book you read going to do when you can just give them a million dollars?” And THAT is the problem with the concept of giving back. It seems that people don’t want to learn how to fish, they want to be given a fish everyday. If you learn how to make your own million dollars, you can make many millions. If someone gives you a million dollars without you having ever learned how to create, you will blow it and end up right back where you were. Instead of asking for hand-outs, ask for the knowledge to create your own.
Conclusion: Everyone has the same opportunity the succeed. It’ll be easier for some and harder for some…but so what? Yes, there are people who are born into wealthy families. BUT, the majority of wealthy people (it’s been estimated that over 85%) are first generational millionaires which means they are self-made as in having started with nothing. It was through their gaining of knowledge and the application of that knowledge that they are where they are. But for some reason, poor people don’t seem to understand that. Going around and expecting for the rich to give away their fortune to the poor in the name of “charity” isn’t going to help you or anyone else. I remember a statement Henry Ford made. He stated that he received over 15,000 letters a week from people asking for a piece of his wealth, but not one person ever asked him for any of his knowledge.
Think about Mr. Ford’s statement the next time you have your hands out begging for a piece of someone’s wealth….