How come I never hear of deaf billionaire?

[shushugah]

Oh my.... Another ignorant post.

So - I have a question for you, young lad. Do you think you will NEVER be a billionaire just because you're deaf?

Becoming a billionaire is very difficult as is, and becoming one as a Deaf person is certainly much much much harder. There are very few billionaires who speak speak lesser known languages. ASL is similar to English, and many Deaf people can read english, that's not enough to facilitate direct conversations with your customers. Is it possible? Sure thing, I just don't see the Deaf community producing many billionaires given its current circumstances and lack of emphasis on top notch education. There's only a handful of deaf/Deaf students in top schools, and most of them are not economics/business majors.

^Whoever mentioned having wealthy parents, that is a good point, and that's why I excluded billionaires who are wealthy by blood association.

 

[katz4life]

i am not sure if i read somewhere correctly in my memory: one Deaf offspring from one of the richest Royal families in Saudi Arabia...i am not sure whether it is millionaire or billionaire.

 

[katz4life]

exactly just what Nightblade said. The billionaires are NOT very happy at all when Forbes published list of billionaires in the world. By doing so - they risked billionaires' lives to kidnapper, terrorists, etc. I would not want to be revealed on that Forbes magazine as the billionaire. Bill Gates have bodyguards for their children. Can you imagine living your life as a cocoon - armored cars, 24/7 bodyguards, etc?

Hmm, that is interesting and so I wonder about Anne Rice the Vampre Chronicles author - my biggest fan -since she is a mutlimillionaire living out there in desert mountains near San Diego and she doesn't have bodyguards around her house as she's living alone.

 

[katz4life]

I hate mansions. It's too depressing to live in mansion. You're basically using only 5% of the mansion - kitchen and bedroom. My friend lives in a mansion where nobody talks to each other because they live so far apart in it. That's why his family is selling it to small house. It is indeed nice to look at but depressing to live in it.

My man is going to live in a Japanese millionaire's mansion somewhere in the country south of Tokyo for four days.

 

[katz4life]

I've always wish I wanted to be billionaire. I've always dreamed to be living in mansion...

I've always dreamed of sleeping in the castles in Ireland or England but I doubt it will ever happen since it is verryyyyyyyyyyyy expensive price for one or two nights stay in the castle.

 

[katz4life]

if i am billionaire, i WILL donate/charities to: my alma mater school, athletic programs, mainstream schools, Children's Hospital, and others more..

become millionaire or billionaire can be very boring because if you spend MANY stuffs that we have then after that, going shopping: i have that, this, that, this and yea, i already have in long time ago, blah blah.. nothing exciting. Travel is always very nice, once you're robbed.. poop happens.. It's ugly to be. I would rather to be THOUSANDAIRE. enough said.

I concur. If I am a millionaire, I would NOT spend on junks because sooner or later they'd become useless and wasteful. So instead of that, I'd use them to spend on World Travel and save of the rest for emergency only in future as I get old of age. And ah, no just put them in the bank in Switzerland, you have nothing to worry about being robbed.

 

[katz4life]

Don't know any deaf billionaire, but I know of a few deaf millionaires, one of whom I still talk to on a regular basis. They didn't exactly start from scratch, though, rather they were born with a silver spoon in their mouths, if you know what I mean.

Richard Roehm? I don't think he is millionaire. LOL. What about Boult?

 

[katz4life]

so... you a billionaire yet? or a millionaire?

and FYI - no you do not have to be able to read and write in proper English. For starter - if you have no problem backstabbing people, walking over people especially your friends, and making decisions without compassion... you just might have a shot there

UGH..."SmartDeaf" gotta be aka sailerboy or other one.

 

[webexplorer]

I believe that millionaire or maybe billionaires rather to go to a dollar store. My neighbor was almost a millionaire, and she loved to go to the dollar stores or even cheap restaurants. That was her choice.

In fact, many wealthy people won't order a dessert at the restaurants because they don't want to waste more money on it. Middle class people like to eat the desserts. Isn't that interesting?

 

[katz4life]

I believe that millionaire or maybe billionaires rather to go to a dollar store. My neighbor was almost a millionaire, and she loved to go to the dollar stores or even cheap restaurants. That was her choice.

In fact, many wealthy people won't order a dessert at the restaurants because they don't want to waste more money on it. Middle class people like to eat the desserts. Isn't that interesting?

Yeah, I've seen some millionaries such as actors and actresses that goes shopping at Target, regular Supermarkets, even Thrifty store. Nothing is wrong with that.

 

[Beach girl]

Realistically, if someone is a singleton millionaire - in other words has roughly one million in liquid assets, including money in the bank, stocks, bonds, other financial assets - and that is ALL they have to live on (no other salary, pension, etc.) that will not afford a particularly generous lifestyle.

Many people aim to have a million dollars in their retirement funds by age 65. Any good financial planner will advise taking no more than 4% out to start with, and then gradually increase the rate of withdrawal by the amount of inflation each year.

So that means the individual is withdrawing the whopping sum of $40,000 a year.

That's nice, but it's hardly an extravagent lifestyle.

So if you're fortunate enough to work for a company that still gives you a pension, and that pension is in the neighborhood of $40,000 a year - congratulations, you are living like a millionaire!

Rather sobering way to look at it, hmmm?

 

[webexplorer]

Yeah, I've seen some millionaries such as actors and actresses that goes shopping at Target, regular Supermarkets, even Thrifty store. Nothing is wrong with that.

Oh really! I was on a ferry boat to an island with some bunch of extremely wealthy people and some other people are poor. Actually, poor people do live on some expensive islands that surprised me. I was wondering myself that is there any rich deaf family live there.

 

[webexplorer]

Realistically, if someone is a singleton millionaire - in other words has roughly one million in liquid assets, including money in the bank, stocks, bonds, other financial assets - and that is ALL they have to live on (no other salary, pension, etc.) that will not afford a particularly generous lifestyle.

Many people aim to have a million dollars in their retirement funds by age 65. Any good financial planner will advise taking no more than 4% out to start with, and then gradually increase the rate of withdrawal by the amount of inflation each year.

So that means the individual is withdrawing the whopping sum of $40,000 a year.

That's nice, but it's hardly an extravagent lifestyle.

So if you're fortunate enough to work for a company that still gives you a pension, and that pension is in the neighborhood of $40,000 a year - congratulations, you are living like a millionaire!

Rather sobering way to look at it, hmmm?

Yeah, that makes sense. My former neighbor had a lot of money. In fact, she missed a lot of opportunity when she turned 62 because her mind was degenerated. I think that this is what happened to many elders, and I felt that the government is somewhat cheating them to follow the laws and policies. It looks that it is easy for them to withdrawn more money out of stocks, but pay more stock broker's several fees and probably more penalty... Unless you tell me what is the better way? I am not expert in financial stuff.

 

[Beach girl]

Yeah, that makes sense. My former neighbor had a lot of money. In fact, she missed a lot of opportunity when she turned 62 because her mind was degenerated. I think that this is what happened to many elders, and I felt that the government is somewhat cheating them to follow the laws and policies. It looks that it is easy for them to withdrawn more money out of stocks, but pay more stock broker's several fees and probably more penalty... Unless you tell me what is the better way? I am not expert in financial stuff.

If you have mutual funds, whether in a tax-advantaged plan like an IRA or 401 (k) plan, or just as regular non-tax advantaged savings, you can withdraw as you like (assuming you meet the age and time requirements). If they are in a tax-advantaged account (IRA or 401(k) ) you will owe a penalty if you are younger than 59 1/2. If it's in a Roth IRA you have to leave it in there at least 5 years.

You can set up a regular withdrawal schedule of so much a month (good for retirees who are in the "withdrawal" phase of life), or you can do a one-time withdrawal whenever you want. You won't pay stock-broker fees if you deal directly with whatever company holds your funds (Vanguard, T. Rowe Price, Janus, Fidelity, etc.).

We believe in paying cash for our cars, so we save up in a mutual fund that my husband and I agree is for car-buying purposes. When there is enough money there, then we can afford a new car. We withdrew quite a bit to buy our most recent car about a year and a half ago, so now we are gradually building it back up again.

It helps that we don't buy cars very often.

 

[jazzy]

I learn one thing about people who become millionaire or billionaire, they are cheap. Of course my husband's grandfather was a millionaire and he was cheap. One thing it bothered me, people asked him for money because he was rich so he loaned them but they never paid him back. If I become millionaire or billionaire, I would not trust anyone. Is this kind of life we want to live in because everyone want $.

I am not sure but one oil billionaire raised one deaf boy ( saw this in movie and it was a true story) because he felt guilty for death of the boy's father. I do not know if this deaf man inherent any of his money or not.

 

[webexplorer]

If you have mutual funds, whether in a tax-advantaged plan like an IRA or 401 (k) plan, or just as regular non-tax advantaged savings, you can withdraw as you like (assuming you meet the age and time requirements). If they are in a tax-advantaged account (IRA or 401(k) ) you will owe a penalty if you are younger than 59 1/2. If it's in a Roth IRA you have to leave it in there at least 5 years.

You can set up a regular withdrawal schedule of so much a month (good for retirees who are in the "withdrawal" phase of life), or you can do a one-time withdrawal whenever you want. You won't pay stock-broker fees if you deal directly with whatever company holds your funds (Vanguard, T. Rowe Price, Janus, Fidelity, etc.).

We believe in paying cash for our cars, so we save up in a mutual fund that my husband and I agree is for car-buying purposes. When there is enough money there, then we can afford a new car. We withdrew quite a bit to buy our most recent car about a year and a half ago, so now we are gradually building it back up again.

It helps that we don't buy cars very often.

I have a mutual fund. It is damn slow since Bush Jr. became the president. It is like 2 dollars increase every few months. I haven't checked my mutual report for many months. I was told that I should invest the mutual fund so I did it, and I am not impressive with my fund. I don't think that you would make that money in order to buy a new car for a short term.

All stock investment companies are not a bank and especially no guarantee. That's risk.

Some investment stock companies have an insurance, but it is limited up to $250,000. That's not good enough.

Suppose that you have $400,000 in stocks and one day you lost the stocks, then you get $250,000 from the insurance which is not good enough ... maybe subtract that insurance for taxes. I don't think that I would say that it is better than no money. You deserve all of the money, not just 250k.

 

[Jiro]

I believe that millionaire or maybe billionaires rather to go to a dollar store. My neighbor was almost a millionaire, and she loved to go to the dollar stores or even cheap restaurants. That was her choice.

In fact, many wealthy people won't order a dessert at the restaurants because they don't want to waste more money on it. Middle class people like to eat the desserts. Isn't that interesting?

interesting? not really. it makes sense. they became rich because they didn't waste their money like bunch of other foolish people.

My brother saw this woman from Desperate Housewives of NJ shops at Target store near my home couple of times and her house costs more than my parents' condo and my apt combined together. Smart lady she is.

 

[Jiro]

I have a mutual fund. It is damn slow since Bush Jr. became the president. It is like 2 dollars increase every few months. I haven't checked my mutual report for many months. I was told that I should invest the mutual fund so I did it, and I am not impressive with my fund. I don't think that you would make that money in order to buy a new car for a short term.

All stock investment companies are not a bank and especially no guarantee. That's risk.

Some investment stock companies have an insurance, but it is limited up to $250,000. That's not good enough.

Suppose that you have $400,000 in stocks and one day you lost the stocks, then you get $250,000 from the insurance which is not good enough ... maybe subtract that insurance for taxes. I don't think that I would say that it is better than no money. You deserve all of the money, not just 250k.

only couple bucks increase every few months? and you haven't checked your mutual report for many months?

no wonder! Bush didn't cause this... you did. Were you expecting to put in few bucks and then expect a gold pot in return??? that's just silly...

My mutual fund has raked in couple thousand bucks already in just one year and that's just a very very very conservative amount (in other word - slow). If you are actively monitoring and adjusting your mutual fund allocations, I can guarantee you that you will get much more than "couple bucks more every few months".

Mutual Fund is not supposed to be used for "get-rich-quick". It's a long-term investment where money grows at modest rate. If you want an aggressive growth, you can do that in risky ventures like stock market or high-risk investment.

 

[Beach girl]

I have a mutual fund. It is damn slow since Bush Jr. became the president. It is like 2 dollars increase every few months. I haven't checked my mutual report for many months. I was told that I should invest the mutual fund so I did it, and I am not impressive with my fund. I don't think that you would make that money in order to buy a new car for a short term.

We save up for about 5 or 6 years between cars, minimum. Our Maxima was 10 years old when we bought our most recent car. That's medium term, not short-term, investing.

Re your fund - do you understand what you own? Who told you to buy it? Are you in stocks? Bonds? Mixed? Money market cash? (That's what it sounds like to me, if you're only going up a couple dollars every few months.)

All stock investment companies are not a bank and especially no guarantee. That's risk.

Of course. Generally speaking, you have to take some risk in order to make money on your money. BUT - you should not be risking ALL your money. You need to have some savings in just a plain ol' savings account or a money market account. It's a good idea to shoot for 3 to 6 months' worth of savings (i.e., enough to carry your expenses for up to 6 months without a job, if necessary), plus a "life happens fund" of a few thousand dollars just because, well, life happens. The washer goes on the blink, car needs repairs, you need a new furnace when you weren't expecting it, etc.

Some investment stock companies have an insurance, but it is limited up to $250,000. That's not good enough.

Suppose that you have $400,000 in stocks and one day you lost the stocks, then you get $250,000 from the insurance which is not good enough ... maybe subtract that insurance for taxes. I don't think that I would say that it is better than no money. You deserve all of the money, not just 250k.

Well, no. Some companies have insurance against fraud, and rightly so. However, there is no insurance against the stock market generally going down, or your particular fund going down. That's what "risk" IS - stock prices will go up and down. Over the long term, the market is very likely to go up. Over the short term, definitely it can go down. This past week was a bad week for stocks. Next week might be better, IF Congress can pass this debt ceiling bill. Or we could see another loss.

If you are going to invest in stocks, you need to take a very long-term view, and do NOT risk money you absolutely cannot afford to lose, in the short term.

 

[posts from hell]

There's this saying... The rich share information. And the proof is right here in this thread.