Comments on: 5 Warning Signs You Will Stay Poor http://www.mikekey.com/5-warning-signs-you-will-stay-poor/ The Entrepreneurial Ninja Thu, 15 Jul 2010 21:34:21 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Control http://www.mikekey.com/5-warning-signs-you-will-stay-poor/comment-page-1/#comment-118 Control Mon, 25 Jan 2010 19:47:28 +0000 http://www.mikekey.com/?p=312#comment-118 You are correct and I didn't really think about it when I was writing. Some people are poor because of circumstance, like say if a family member gets a very serious illness and your insurance won't cover it and next thing you know you are 100K in debt with hospital bills. Insurance doesn't cover anything. Heck if the dollar collapsed tomorrow, many of us would be in serious trouble, even many of the wealthy. Heck I know some guys who make very little only to get wiped out by child support, which goes to ex's who make 5x as much as them. And then they can't support themselves. It's a shame, I had a dead beat father who never paid child support, but their are some men who aren't dead beats but are treated like it by the system. I am a firm believer however that being poor and being broke are two different things, and that most people in this country are broke and chose to be so. There is plenty of opportunity here. But most people in this country are broke because of how they think and act. It's not like say Africa where there simply is no opportunity. In many places, even if someone wanted to succeed, they simply can't without leaving their country completely. You are correct and I didn’t really think about it when I was writing. Some people are poor because of circumstance, like say if a family member gets a very serious illness and your insurance won’t cover it and next thing you know you are 100K in debt with hospital bills. Insurance doesn’t cover anything. Heck if the dollar collapsed tomorrow, many of us would be in serious trouble, even many of the wealthy. Heck I know some guys who make very little only to get wiped out by child support, which goes to ex’s who make 5x as much as them. And then they can’t support themselves. It’s a shame, I had a dead beat father who never paid child support, but their are some men who aren’t dead beats but are treated like it by the system.

I am a firm believer however that being poor and being broke are two different things, and that most people in this country are broke and chose to be so. There is plenty of opportunity here. But most people in this country are broke because of how they think and act. It’s not like say Africa where there simply is no opportunity. In many places, even if someone wanted to succeed, they simply can’t without leaving their country completely.

]]> By: HN http://www.mikekey.com/5-warning-signs-you-will-stay-poor/comment-page-1/#comment-117 HN Mon, 25 Jan 2010 18:04:51 +0000 http://www.mikekey.com/?p=312#comment-117 This is a good post and I think mentions more practical points then similar themed topics I've seen on other blogs. The only thing I have an issue with is #3. Actually, I agree completely except for the last line where, in my opinion, you imply that anyone with debt issues is irresponsible or that it's "their fault". Certainly, that is the case for some...maybe most. But there are situations that can arise that disrupt someone's life, that which they cannot control. And if they are in debt and have money problems they arrived there not from there reckless behavior or lack of planning but because...life happens. I work with several families who have had their financial situations turned completely upside down due to some unforeseen circumstance. They had their emergency funds. They had their savings. They followed the guidelines to be financially stable and still, some things happen that all the preparation in the world couldn't absorb. Another thing I would add is people who try to impress other people (that they probably don't even care about) with material things. These people live an artificial life wasting time chasing the perception of another person's good fortune only to have theirs stalled for life. This is a good post and I think mentions more practical points then similar themed topics I’ve seen on other blogs. The only thing I have an issue with is #3. Actually, I agree completely except for the last line where, in my opinion, you imply that anyone with debt issues is irresponsible or that it’s “their fault”. Certainly, that is the case for some…maybe most. But there are situations that can arise that disrupt someone’s life, that which they cannot control. And if they are in debt and have money problems they arrived there not from there reckless behavior or lack of planning but because…life happens.

I work with several families who have had their financial situations turned completely upside down due to some unforeseen circumstance. They had their emergency funds. They had their savings. They followed the guidelines to be financially stable and still, some things happen that all the preparation in the world couldn’t absorb.

Another thing I would add is people who try to impress other people (that they probably don’t even care about) with material things. These people live an artificial life wasting time chasing the perception of another person’s good fortune only to have theirs stalled for life.

]]> By: Slackerjo http://www.mikekey.com/5-warning-signs-you-will-stay-poor/comment-page-1/#comment-110 Slackerjo Sun, 24 Jan 2010 12:38:11 +0000 http://www.mikekey.com/?p=312#comment-110 Having too many babies on a limited income. AND continuing to do the five things on the list, especially #5. Having too many babies on a limited income. AND continuing to do the five things on the list, especially #5.

]]> By: Weekly Roundup: Shorty Awards, 401(k)s, & Staying Poor | Finance Blog http://www.mikekey.com/5-warning-signs-you-will-stay-poor/comment-page-1/#comment-92 Weekly Roundup: Shorty Awards, 401(k)s, & Staying Poor | Finance Blog Fri, 22 Jan 2010 14:01:15 +0000 http://www.mikekey.com/?p=312#comment-92 [...] 5 Warning Signs You Will Stay Poor @ MikeKey.com [...] [...] 5 Warning Signs You Will Stay Poor @ MikeKey.com [...]

]]> By: Control http://www.mikekey.com/5-warning-signs-you-will-stay-poor/comment-page-1/#comment-51 Control Thu, 14 Jan 2010 16:47:59 +0000 http://www.mikekey.com/?p=312#comment-51 Well, it's meant to be funny. But we don't always think that a few beers will hurt us, but getting a DUI can turn into a very expensive thing indeed. Happened to a friend of mine a year ago. Cost him thousands of dollars, all because of one night of fun. I'm not saying beer is bad, I drink on occasion and enjoy micro-brews. Well, it’s meant to be funny. But we don’t always think that a few beers will hurt us, but getting a DUI can turn into a very expensive thing indeed. Happened to a friend of mine a year ago. Cost him thousands of dollars, all because of one night of fun. I’m not saying beer is bad, I drink on occasion and enjoy micro-brews.

]]> By: J. Money http://www.mikekey.com/5-warning-signs-you-will-stay-poor/comment-page-1/#comment-50 J. Money Thu, 14 Jan 2010 15:53:02 +0000 http://www.mikekey.com/?p=312#comment-50 Haha....so no more beers & naked girls huh? Or is that only until you hit your first million? ;) Haha….so no more beers & naked girls huh? Or is that only until you hit your first million? ;)

]]> By: uberVU - social comments http://www.mikekey.com/5-warning-signs-you-will-stay-poor/comment-page-1/#comment-33 uberVU - social comments Sun, 10 Jan 2010 02:24:39 +0000 http://www.mikekey.com/?p=312#comment-33 <strong>Social comments and analytics for this post...</strong> This post was mentioned on Twitter by J_S_Key: RT @mike_key 5 Warning Signs You Will Stay Poor http://bit.ly/6XrLUi... Social comments and analytics for this post…

This post was mentioned on Twitter by J_S_Key: RT @mike_key 5 Warning Signs You Will Stay Poor http://bit.ly/6XrLUi...

]]> By: The Ninja Weekly Round-Up | The Blog of Michael Key http://www.mikekey.com/5-warning-signs-you-will-stay-poor/comment-page-1/#comment-30 The Ninja Weekly Round-Up | The Blog of Michael Key Sun, 10 Jan 2010 02:05:10 +0000 http://www.mikekey.com/?p=312#comment-30 [...] 5 Warning Signs You Will Stay Poor [...] [...] 5 Warning Signs You Will Stay Poor [...]

]]> By: MikeKey http://www.mikekey.com/5-warning-signs-you-will-stay-poor/comment-page-1/#comment-25 MikeKey Thu, 07 Jan 2010 15:09:19 +0000 http://www.mikekey.com/?p=312#comment-25 Thanks, I didn't realize myself that I was buying things to impress other people until I hit rock bottom financially. It was easier for me to figure out I was spending more than I earned, but harder to do more about it at first. A lot of this is all based around habits. Thanks, I didn’t realize myself that I was buying things to impress other people until I hit rock bottom financially. It was easier for me to figure out I was spending more than I earned, but harder to do more about it at first. A lot of this is all based around habits.

]]> By: Oscar - freestyle mind http://www.mikekey.com/5-warning-signs-you-will-stay-poor/comment-page-1/#comment-24 Oscar - freestyle mind Thu, 07 Jan 2010 07:12:23 +0000 http://www.mikekey.com/?p=312#comment-24 Loved this post. I loved it because I did not identify myself in those point! But it was not always like this, and now I see the difference. Loved this post. I loved it because I did not identify myself in those point! But it was not always like this, and now I see the difference.

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