What makes the rich richer and the poor poorer?

[marcusfe]

I've been able to find out that in the life of so many people, the state of being poor and rich are becoming perpetual. I supposed, if a poor person works very hard and do the necessary things that the rich do to be rich, they are supposed to be rich too but reverse is becoming the case. It is very common these days that the rich are becoming richer while the poor are becoming poorer. Actually I can't say much of the reasons why this is so but one thing I notice is that, many poor people are becoming poorer because they live the life of frugality while many rich people are becoming richer because of their conservative life.

 

[btaliat]

Many factors make the rich richer and the poor poorer. Among the factors is government policies. No matter how the government policies is felt by the citizens, the poor will be the hardest brunt. Besides, the mentality of the rich always differ greatly with that if the poor. While the poor sees money as investment tool, the rich always see saving as a means of getting rich. This mentality is drawing back the poor.

 

[Doradorwa]

One of the things I e learnt about rich people is that they don't live above their income... Forget the flashy clothes and fancy food... They love within their income... They don't spend their money anyhow and they try to invest wisely but poor people will want to live above their income so as a parade a image that they are not... Money they ought to use for investment they use it for clothes for party or something less worthwhile and this will always make them poorer... Priorities must be given attention first before anything else.

 

[eojo2401]

The richer will be continued to be rich while poorer may continue to be poor. Firstly, the rich men are risk takers, they have the financial resources to take risk and the most risky ventures attracts high profit. But the poor will be afraid of taking risks because he doesn't have enough financial resources and he can't afford to loose the little he got, he will preferred to invest it in low risk investments which may not even give him a profit at the end of the day. May the Lord bless the poor man and take him out of poverty.

 

[Teatea]

The difference is the level of risks taken. The rich are not afraid to leap and take risks, they invest well and wisely and also use their money to get more money which that makes them to keep getting richer. A poor man would rather hoard his little money than take a risk that would increase his financial status, that you save doesn't mean you have money, you are still at the same level because when you spend out of it, it becomes less. But a rich man would keep investing and enjoying the return on investments.

 

[Chibson]

This is actually has been my third for some time right now. I keep wondering why rich people keep getting richer and of course poor people keep getting poorer and I have found out some observations. one of the reasons which people keep getting the charger because they believe in Little things, they believe that whatever they do we work for them. poor people are very quick to call something a scam even when they have not tested it.

 

[Doradorwa]

The difference is the level of risks taken. The rich are not afraid to leap and take risks, they invest well and wisely and also use their money to get more money which that makes them to keep getting richer. A poor man would rather hoard his little money than take a risk that would increase his financial status, that you save doesn't mean you have money, you are still at the same level because when you spend out of it, it becomes less. But a rich man would keep investing and enjoying the return on investments.

This your contribution is very mature and intelligent.... Believe me risk management between the poor and the rich is very far in gap... A poor man will always believe that almost everyone wants to steal or defraud them hence they keep their money under their bed and thank God for it safety but the rich is never afraid of investment.... They do it because they already learnt that life is built on risk.... And as it is known that investment is saving for future... The rich man future is never broke.

 

[Ekuvero]

There are many things to be put into consideration first of all mindset the poor get poorer due to the mindset most of them do have the zeal of been creative and smart. It isn't about to Work hard but rather Work smart, government policies is still another thing the poor are the people who are been hit with the harshest impact in any government policy, while the rich hardly feel an impact imagine monopolizing of cement to Dangote only when they are other investors out who are ready to create job opportunities through this venture's

 

[Deleted member 30343]

The difference is the level of risks taken. The rich are not afraid to leap and take risks, they invest well and wisely and also use their money to get more money which makes them to keep getting richer. But the poor are limited to such advantage due to many factors such as educational level,social awareness, lack of political influence, lack of money

 

[Highflyer]

There are so many factors that make the rich richer while the poor remain poor. I've realised that the rich take advantage of any opportunity available and ensure they utilise it to their advantage, no matter the risks involved. The poor on the other hand fail to reason beyond where they are, some of them fail to see opportunities and even when they do so do not take any step on it. Being poor doesn't mean one is lazy though, there are hardworking people that are still poor.

 

[Alexandoy]

I have studied that conundrum when I was working in a bank. If your income is greater than your expenses then there is something left that you can either save or invest. Think if that situation would persist for a long time that your income is growing and your savings is also growing that means you are getting rich. The reverse is how the poor becomes poorer.

 

[Queentener]

What makes the rich richer and the poor poorer, is opportunities, connection and taking risk, there is an adage that says the future belongs to those who can take risk. The rich will always invest. Opportunities are endless for the rich while the poor even if given such opportunity,it can't be useful because there is no resources to maximize the opportunity. The rich also use their connection to get things done easily and fast, the poor has no connection.

 

[Kingsley]

In this case i will say it is all about the mentality, when you go through thr book titled rich dad and poor dad, your will realise that the poor is poor because of his mentality. And the rich is wealthy as a result of his mentality. The rich always allow their money to work for them but the poor always struggle to work for money.