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Thursday, June 14, 2012

Income disparity, understanding the rich and poor


This topic came up recently in some of my conversations, understanding the rich and poor.
Coming from a middle income family, I went through an elite studying regime and have had the benefit of having a period of independence and overseas exposure. I always had friends from the elites but at the same time I always hung out with the down right poor. As such I believe that I have had the chance to truly see what goes on both sides of the coin.

A rich person once told me that he has little to no sympathy for the poor. If you want it badly enough, work for it and you can achieve it. If the prices increase, then you find a way to make even more money to obtain the lifestyle you desire. It is their own damn fault that they are in their current predicament.

A poor chap once told me that he doesn't know how to achieve success. He has tried all means but is unable to dig deep enough in his will to succeed. He neither ever received the love he needed to develop a strong mind, nor did he value the importance of an education, be it main stream education or financial education. When your parents don't bother sending you to school nor do they give you money for food, every job and every cent is a blessing and striving for a situation whereby being about to eat to live is good enough for you.


Clearly they both differ and are unable to see each others points of views.

A rich person once told me "when you have reached that next level of spending power, you will view things differently and desire things differently."

A less but by no means ill fortunate person once told me "I will never have such desires, even if I have all the money in the world. It is simply such a waste."

Situations and environments mold the sub-conscience. And that is 95% of the brain! From my point of view, when something no longer becomes a desire and is in abundance, you simply mis-treat it. Take tap water for example. Compared to a nation who is constantly in drought that owns diamonds, they will feel that our ill fortunate friend is totally wasting our completely potable tap water in Singapore in every possible way BUT treat diamonds only slightly better because it is a prettier stone.

Another rich person I know of didn't take a single cent from his parents and built a billion dollar industry on his own in 4 years! And when asked how he does these amazing feats, his answer simply was... Isn't it normal?

The poor person I know complains on a daily basis on how he works super hard but is under valued and under paid. And when questioned on how hard is hard, he talks about the long hours and strenuous work but never once mentioned about how he wants to break his shell and never sets any goals.

The rich man, having spent the last 30 years of his life listening to the business talks and discussions of his parents, could never imagine anything less than a billion dollar industry, should he chose to create one. He has been educated with the experiences of multiple mentors, to which people will pay good money to learn from, to which he has taken granted for and is benefiting from it unknowingly.

The poor man has always been fighting for survival while looking up to the rich and wondering why he is at the bottom of the food chain and doing all the work. He always thinks he is under valued, compared to his peers or superiors, but fails to set realistic goals because he has never been exposed to the right company.

To wrap up this chain of thoughts, wealth and happiness are things that are not completely related but you can never deny its co-existence.
** note I am not discounting the rare few who dedicate their lives to charity.**
The rat race for the top is a never ending struggle if you do not set your own boundaries and measures of happiness (be in a certain income range, a family, 4 wives!). And failing to set these guides and markers of happiness will only lead a person into a state of unlimited wants.

As a Rich man it is important to understand that not everyone is as fortunate as you. And by fortunate I refer more to circumstances than wealth. Not to mention that as much as you can claim that you have never taken a single cent from your family to start your business, even the simplest of circumstances like never having to ever go hungry and always having electricity is an advantage in itself. (not to mention the abuse of family statuses and contacts). Once you have embraced that people are all not fortunate, you will start to see a more warmer and kinder heart and trust me when I say your happiness index will go up.

For the Poor chap, it is important to understand that you may not be as fortunate as others, but you are no where as useless as you (though you won't admit it) put yourself to be. Even at an older age, with a proper mentor ship and perseverance, it is never too late. Begin with baby steps and moderate goals to boost your confidence and in time I'm sure your happiness index will rise as well.

I don't believe that everybody on earth can be monetarily rich. But I do believe that we all can be happy. For every gain, there will be a loss. It is when the gainers realize that only by giving back can they sustain the balance and increase their happiness and when those who continually lose but are happy within their scopes continue to give and believe that providence will prevail they will eventually achieve their ambitions as well.

Very much like how we SHOULD treat mother earth isn't it?

JJ

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