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venomous viper · 11-01-2007, 02:15 PM

Day.Here is my $02. I'm "retired" and have been for many years. Income is not wealth, it is REALIZED income and taxed. The dollars that denote wealth is the unrealized income(not taxed) and appears from capital gainedcapital appreciation WITHOUT cash flow and therefore not taxed. Lots of high wage earners, many more than wealthy people.!! Here are 4 main obstacles to obtaining real wealth, imho.
1. spending habits
2. procrastination on unrealized return investments
3. inflation if you don't own appreciable assets.
4. taxes!!!!!!
I'm probably not wealthy, but very confortable. Passive, untaxable income creates wealth.
Check out millionaire next door book. Find out for yourself if you are uaw(underachiever of wealth) or paw(prodigious accumulator of wealth). Good read, imo.

11-01-2007, 02:15 PM	#1
venomous viper Junior Member Join Date: Sep 2007 Location: Cancun, AZ, TX and CA. Posts: 191	lots of thoughts on wealthy people yester Day.Here is my $02. I'm "retired" and have been for many years. Income is not wealth, it is REALIZED income and taxed. The dollars that denote wealth is the unrealized income(not taxed) and appears from capital gainedcapital appreciation WITHOUT cash flow and therefore not taxed. Lots of high wage earners, many more than wealthy people.!! Here are 4 main obstacles to obtaining real wealth, imho. 1. spending habits 2. procrastination on unrealized return investments 3. inflation if you don't own appreciable assets. 4. taxes!!!!!! I'm probably not wealthy, but very confortable. Passive, untaxable income creates wealth. Check out millionaire next door book. Find out for yourself if you are uaw(underachiever of wealth) or paw(prodigious accumulator of wealth). Good read, imo.