What if ?

[LearningMan]

Read this as part of an article this morning and it has got me thinking ...

A very rich man once said, "If you took all the money in the world and divided it equally among everybody, it would soon be back in the same pockets it was before."

Do you think it could happen ?

 

[Macca]

To a degree, I believe it would soon find its way back to the achievers of this generation.

"Old money" would stay in the general pool, a lot of those only know how to spend not how to accumulate.

 

[shazza]

This has been taken from 'Richest Man in Babylon'. Its probably true - how many people do you know who would rather spend money now on pokies, the lotto, plasma TVs, new cars, booze etc than save money and learn how to invest (although I'm sure a lot of people think playing lotto is an investment in their future!).
There some statistics somewhere saying how many people who win lotto are broke again within a short period of time.

cheers Sharyn

 

[quiggles]

On the lotto winners, the figure I saw was that after 10 years, 1% of lotto winners were reasonably well off.

The author went on to point out that it was the same for teh non-lotto winning population and it might well be that these folks didn't actually need to win to become rich.

Loved Macca's point about inherited wealth.