Working over 20 years still poor

[Lordhermes]

It's not about how long you work, it's about what you earn and save that guarantee your wealth. Some people work hard and earn low while some work smart and earn high. The salary will determine if you will be poor or rich after working for so long.  

Secondly, management is another key to wealth, if you can manage your little salary well you can be richer than someone who earn good salary than you but mismanage his funds.

Savings is another key to wealth too, you must learn how to save from your little salary, no matter, not too long it will be huge for investment. Never underrate saving.

[Solosanz]

I don't understand why everyone blame @OP for not getting rich.

It's not only about financial management or looking a job with higher payment, but it also depend on his family. If the @OP is a sandwich generation where he need to cover his sister, brother, father and mother needs, it's really hard to save money because the money he earn mostly only enough to survive.

If you're rich or not a backbone of a family, you need to be thankful and respect the other who's not lucky as you.

[Smartgoat]

I think the cause is lack of savings. without savings man can do nothing. if you are that can of person that doesn't save, you will work in particular place for 100years without nothing to show fort .

[BADecker]

I think the cause is lack of savings. without savings man can do nothing. if you are that can of person that doesn't save, you will work in particular place for 100years without nothing to show fort .

It's 3 things:
1. Lack of wisdom in using the funds one has;
2. Income tax;
3. Inflation.

If we didn't have the Federal Reserve Bank, but instead let the US Treasury handle the money, inflation would be almost 0%... and we wouldn't need the IRS. The amount of money the IRS collects is the amount of repayment of the money and interest that the US borrows from the Fed. It determines how much the government can borrow. If we didn't have the Fed, the US creating money would be in the hands of the US Treasury, and the people would recall or sue government officials when they created too much money.

[Pingrapole]

To succeed in life we ​​have to try and if we fail then it is our luck, but our creator will surely create good luck from our good deeds.A man does not get promotion for a long time after joining a job he works and does good work but does not get promotion actually it is not his fault it is the system's fault A man till twenty-five thirty years It is normal that many people will like it and many people will feel bad about it.Many people earn good money and run well by making good plans with little effort If you present yourself as poor as it is natural that poverty will hold you down but if you try to change yourself through good work then surely God will help you.I think that if someone works hard and tries his hardest, he will never have to stay in the same position or be poor for 20 years, surely he can do something good.Actually you are doing the same thing, or you know what you do but if you can't make yourself why two years won't change even in 40 years.Finally, change yourself, you will definitely change, your situation will change.

[purinZ14]

It’s not destiny but there’s just a lot of factors that affects one’s financial status. If one is already rich or at least middle class, has graduated college and is now doing a profession that pays high then of course they’ll make it in 5 years. However, if one is supporting a family and their job isn’t high paying, 5 years won’t be enough. Sometimes efforts don’t pay immediately. Investing might not be an option for others for they are paying so much bills. We are all living different kinds of life.

[Agbamoni]

Whether you end up poor or rich in life isn't predestined. It's not about how many years you've been working, but how cleverly you've been working. It's often better to be in charge of your own business because in that 20-year period, you could have created your own business.

[Gyfts]

Can we conclude that such are individual destiny?

No, I don't believe in deterministic outcomes. If you work for 20 years and are still poor, you've likely made willful decisions that have kept you secured to the low income group.

Educate yourself with a diverse and marketable skillset, earn more than you spend, and set aside funds for investment early to allow for accrual over 20 years plus and your chance of being impoverished is virtually zero.

[Hewlet]

It depends on the persons involved, if you are comparing someone who has a high saving habit to another who squanders all he earns before his next pay day, it's almost certain that the number of years the latter works won't really matter.

[hafiztalha]

Can we conclude that such are individual destiny?

No, I don't believe in deterministic outcomes. If you work for 20 years and are still poor, you've likely made willful decisions that have kept you secured to the low income group.

Educate yourself with a diverse and marketable skillset, earn more than you spend, and set aside funds for investment early to allow for accrual over 20 years plus and your chance of being impoverished is virtually zero.

Poor people are still poor because of their mindset, if they will change their mindset and will think like a rich , they will also become rich after 2 to 3 years. If a person is doing
a job and financial literate, he can can become rich by investing in other business, by investing in Bitcoin or by investing in property or gold. Does not matter how much you earn. The matter is what is your monthly income. And are your expenses. When your expenses will be greater than your income, you will be in burden and you will be poor because in way you cannot get financial freedom. Also, asset and liabilities ratio also depends a lot. Most poor people think that their living house is an asset and should be good investment but in reality living house is a liability because it takes out money from our pocket. If someone wants to become rich, he should know all these fact because without understanding these fact he cannot become rich. Poor people work for money and for rich people money work. That is a big difference between rich people and poor people.

[blockman]

It depends on the persons involved, if you are comparing someone who has a high saving habit to another who squanders all he earns before his next pay day, it's almost certain that the number of years the latter works won't really matter.

An average worker will have to spend his money and does need to allot money for the needs and expenses for the bills. I think that we're all spenders and even if you're a saver, that won't matter in the long run because of the inflation. What matters is that you're saving to invest and not just plainly saving it in the bank because of how the cost of everything is going up. We may be different in so many ways and that's why if someone is up working for so long and doesn't save anything, it's his loss and problem that's hard to fix because it's almost too late. 20 years in the service and got nothing, sad but true and there were people that I have seen that are into that situation. But it is not that they're not a good saver but it is because they didn't care for themselves and just kept on giving to the need of their families and didn't left anything for themselves.

[Baki202]

I think the cause is lack of savings. without savings man can do nothing. if you are that can of person that doesn't save, you will work in particular place for 100years without nothing to show fort .

Lack of savings may be a factor, but the nature of the person's job should also be taken into account. For example, if the amount received is small, how can you expect the man to save when he has large bills and small earnings? There is no way that is possible. How can you expect him to survive when inflation is affecting every direction. I believe that investing is even better than conserving money because you can still end up spending it, whereas investing generates profits. But I don't think it's wise at all to leave money lying around.

[Mophymac]

The same work some do for 5 years and make it in life, other may do it for over 20 years does not guarantee  success infact such a fellow may still feed from hand to mouth. Can we conclude that such are individual destiny?

When you say work; are you referring to working for someone as an employee? If that is the case, there are data out there in profusion which prove that no matter the number of years put in working for someone in most  cases such individuals ends up living from hand to mouth. In another hand, if you  check the list of the world riches people none work for someone, they are all entrepreneurs.
If you want to be wealthy and retire early in life, work for yourself. Be an investor. Invest in Bitcoin today. Its smart work that makes rich not hard work.
Just my thoughts.

[Dobabe]

In my own opinion I believe everything happens for a reason, for everything there is a season and a time for every matter understand heaven. Secondly, the kind of work you enagage yourself too matters a lot and also your responsibilities and your challenges might not be the same with some else. However, I will advise you not to compare yourself with some else, cause one thing have learnt in life is patient, have even seen a situation where a man worked hard and yet nothing to write about but sometimes the ones that will not put effort those are the people favour will locate but in all work hard.

[EluguHcman]

Things to be considered >>>
*visionary ability to increase values.
*Ability to diversify source of income to create wealth.
*Responsibilities and liabilities.
*Expenditure(s).

[jeffhight]

In fact, this is not such a simple topic. Not all people can be rich - this is a utopia. Main problems 2: the psychology of poverty (when you see from childhood how parents save money, do not allow themselves anything, limit the child, say that nothing depends on us) and lack of financial literacy. But the positive news is that everything can be solved.

[peter0425]

The same work some do for 5 years and make it in life, other may do it for over 20 years and still feed from hand to mouth. Can we conclude that such are individual destiny?

I only worked for 15 years , because after those years? I realized that nothing will happen to my life.

so I started investing in Business , and also now in crypto .

[SamReomo]

The same work some do for 5 years and make it in life, other may do it for over 20 years and still feed from hand to mouth. Can we conclude that such are individual destiny?

Well, it depends on someone's knowledge and understanding about economics. Some people work for 5 years and within those 5 years they put a portion of their income for investing into assets that can grow good in value over the next 15 years, and those people mostly live frugal lifestyle during those 5 years. They can live rest of their life happily without any financial issues.

Let's take the example of first one who worked for 5 years and after that he/she is happy to live rest of his/her life happily without any financial issues. Let's suppose the person made $1000 per month and put $250 aside in order to invest those into an asset, and now suppose the asset was Bitcoin where he/she invested that $250 during 2009 to 2014. That person don't need to work anymore because he/she has invested in a very good asset that made him/her a millionaire or most probably a billionaire.

Now let's take the example of the second one who worked for those 5 years and spent his/her monthly income without putting anything for investing. That person will still have to work for rest of his/her life because he/she hasn't invested anything into an asset like Bitcoin.

[Gaza13]

Why is someone working for 5 years more successful than working for 20 more unsuccessful years, with the same average salary? Usually this person has a different mainset. Because the key to wealth is not in your hard work, but in someone's intelligence in managing your finances and making your money work for you. One of them is that you have to be able to differentiate between assets and needs, for example assets are something that will increase your money in the future, while needs are things that reduce your money.

5-year-old workers usually postpone their pleasures in youth and enjoy them in old age:
1. Buy something that suits your needs or function, for example buying a cellphone at an affordable price.
2. Dare to take risks, buy assets with good fundamentals such as shares or bitcoin, how will he know the money is working for him
3. Don't be extravagant, live frugally
4. Always set aside 20% at the beginning. To buy assets

20 years of work:
1. Buying something that doesn't suit their needs, if there is something new they buy it
2. Don't dare to take risks, afraid of losing money
3. Always set aside money at the end to save, saving doesn't make you rich.
4. Always buying something, the selling price always goes down in the future, there is no profit

[Reatim]

The same work some do for 5 years and make it in life, other may do it for over 20 years and still feed from hand to mouth. Can we conclude that such are individual destiny?

Your life , your decision .


if you let being employee for that long then you will remain poor.

try extending your career here in crypto, you might find ways to become rich.