Realizing Wealth Inequality: A Personal Reflection on the Chances of Being Rich
My journey into the financial realm began innocently enough, but quickly turned into a harsh reality check. While learning about investing, I was scammed out of my life's savings. Instead of improving my way of life, I now struggle to make ends meet.
Rich is a term that varies widely depending on one's perspective. Throughout my life, I have had moments where I genuinely felt wealthy. I was able-bodied with a good mind, and my physical needs were mostly met. During my marriage, I was financially comfortable enough to give to charity and enjoy entertainment.
However, those days are long gone. Now, I look back and miss those times. Will they ever return? Maybe, maybe not. But I don't waste time wishing. Instead, I focus on maximizing the pleasures of the wealth I currently enjoy.
Why even focus on the chances of being rich, you ask? Why not just aim to become a billionaire? There is a saying that goes, Why bother considering those possibilities, when you could be thinking about when you'll be a billionaire? This question is often posed as a commentary on the unrealistic goals that many people set for themselves. However, there is wisdom in recognizing the odds.
In third grade, when I first learned about probabilities, it hit me that the chances of becoming one of the 540 billionaires in the U.S. (a country of about 330 million people) are incredibly slim. The odds are just 0.0001363. Just like looking out for lightning, the chances of being a billionaire are practically non-existent.
Realizing Wealth Inequality in the Late '70s
During my time as a shy young cadet at a military academy in the late 1970s, I realized that I was unlikely to achieve wealth. It is a realization that most people have, but it can be daunting. Despite feeling demotivated, this realization surprisingly cleared my future path. I felt relieved and less pressured to achieve unrealistic goals.
This doesn't mean that I gave up on the idea of wealth altogether. I continued to think about potential business ideas and gaps in society that could be filled for profit. However, I was more realistic about my chances. One day, I saw a major weakness in sports betting, and I took full advantage of it. This realization helped me make more informed decisions about my entrepreneurial ventures.
No one can predict the future, and I never stopped believing that I would one day become wealthy. It is the decisions we make and the actions we take that truly define our success. It is not the outcome that matters, but the journey and the lessons we learn along the way.
Final Thoughts
Understanding wealth inequality and the slim chances of becoming incredibly wealthy can be a wake-up call. It allows us to focus on more realistic goals and appreciate the wealth we currently have. It also promotes a more positive mindset and a better understanding of our place in the world.