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Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

What is missing is that a poor person probably NEEDS to spend it to survive and a rich person doesn't need it to survive.

A rich person has options - invest, spend or donate - not just save.  

Jul 11, 2017 07:33 AM
Rainmaker
1,543,817
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

A wealthy person would invest it in themselves (not selfishly) through education or a venture...so maybe to help someone in need with what comes from the initial investment?

Jul 11, 2017 07:14 AM
Ambassador
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Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

I agree with the poor person part.  The rich person part is a little more diverse: spend it, invest it, or give it away.

Jul 11, 2017 07:20 AM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

As with all such things, way to simplistic and too generalized. Life just doesn't work that way and neither do people.

Jul 11, 2017 07:14 AM
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Debe Maxwell, CRS gave the answer that makes sense.... ditto for me....

Jul 11, 2017 08:37 AM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I do not agree.  A rich person will use the dollar wisely.  And, we need to define "rich" and "poor" as well as factor in other variables.  

Jul 11, 2017 07:59 AM
Rainmaker
758,035
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Nothings missing from that except a "Love" button (I liked it instead)

Jul 11, 2017 07:41 AM
Rainmaker
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Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Who will save at < 1% ??????????????????

Aug 10, 2017 05:51 AM
Rainmaker
547,327
Steven Nickens
Hawaii Life Real Estate Brokers - Wailea, HI
R(S)GRI ABR, Maui Real Estate Hawaii

I always heard that the working class man is more generous than the rich man.  I know a guy that can rub two nickels together and make five dollars, but what a tight ass.

Jul 12, 2017 05:34 AM
Rainer
187,002
Raj Taj
RE/MAX - Lake Bluff, IL
Drive By Blessings!

Give me a dollar, and I'll go to the dollar store.

Jul 11, 2017 07:10 PM
Rainmaker
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Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Jul 11, 2017 04:17 PM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Annette,

I think that Debe Maxwell, CRS analysis matches ours in this instance.  A

Jul 11, 2017 09:25 AM
Rainmaker
1,725,996
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Not much, but people still need to eat

Jul 11, 2017 08:54 AM
Rainmaker
5,216,398
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

A rich person invests in future return while a wise poor 

man spends for survival!

Jul 11, 2017 08:42 AM
Rainmaker
1,844,301
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Some people are just like this & others are not. Buffet just gave away a boatload of money the other day & probably twice that will flow back towards him.

My sister still has her communion money if anyone cares.

Jul 11, 2017 08:34 AM
Rainmaker
1,617,916
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

penny earned is penny saved

Jul 11, 2017 08:31 AM
Rainmaker
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

It is simplistic not simple.

Jul 11, 2017 08:20 AM
Rainer
65,378
Steve Bracero
Heisler and Mattson - Shrewsbury, MA
First Time Homebuyer and Investor Specialist

Yes... I look at money as a tool to save then invest.... 

Jul 11, 2017 08:15 AM
Rainmaker
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Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

The fact that a poor person may NEED to spend it where the rich person is seldom likely to spend all their income... they don't need to.

Dec 27, 2017 05:05 PM
Rainmaker
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Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

It's a little simplistic. Richer people don't need to spend extra money they receive whereas poorer people might need that extra money. Also, many richer folk will invest rather than save.

Jul 12, 2017 06:46 AM
Rainmaker
599,274
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

The rich person wasn't always rich. In most cases, wealthy people started off poor or middle class. Although they "needed" to spend the dollar, they would set aside a portion of it and exercise frugality. Do that enough times and you have money saved up to invest. If you invest wisely, your investments continue to grow while you continue to live frugally and save. With exponential growth it doesn't take long for it to explode and the person is rich. The majority of the population looks at the rich person and thinks they were lucky or inherited it because they don't see the hard work it took to get there.

Jul 12, 2017 06:42 AM
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I agree.

Jul 12, 2017 05:40 AM
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Debe Maxwell, CRS nailed this one!

Jul 12, 2017 04:44 AM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

A real rich person will Invest it.

Parable of the talents.

Jul 11, 2017 10:49 PM
Rainmaker
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Annette Lawrence , Palm Harbor, FL 727-420-4041 - it depends on the stage of the life of the person, I believe.

Jul 11, 2017 10:41 PM
Rainmaker
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

That is why the rich person is still rich. Look at Warren Buffet. He is as conservative with his lifestyle as can be.

Jul 11, 2017 05:07 PM
Rainmaker
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Not always, some poor people may see the dollar as worth saving.  A rich person may be over-extended and may spend the dollar as soon as they have it.

Jul 11, 2017 04:54 PM
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

The rich person invests it not save.

Jul 11, 2017 04:47 PM
Rainmaker
4,936,677
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

this is so true.  I was rish when I was young, save everything, what happen?

 

Jul 11, 2017 02:27 PM
Rainmaker
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Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

I agree! What's missing is some friendly Ben Franklin type advice to watch your pennies and the dollars will take care of themselves.

Jul 11, 2017 01:43 PM
Rainmaker
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I do not agree. A poor person may use it to survive. A smart rich person will invest it. I not so wise rich person may buy something they dont need anyway. 

Jul 11, 2017 01:10 PM
Rainmaker
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Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

If you are living hand to mouth, there isn't an extra dollar.

Jul 11, 2017 10:59 AM
Ambassador
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Most poor people would buy a lottery ticket with it.

Jul 11, 2017 10:51 AM
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Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

That sounds about right to me.

Jul 11, 2017 10:21 AM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The driving force is whether the person is poor in spirit or not...

Jul 11, 2017 09:10 AM
Rainmaker
7,836,134
Roy Kelley
Retired - Gaithersburg, MD

Thanks for sharing your thoughts.

Jul 11, 2017 08:11 AM