If a person owns 4 luxury cars, but has an ordinary job and no inheritance, how would you explain this?
154115
There are plenty of illegal explanations, on legal one could be that they were purchased at auction, or even through a repo sale.
295713
1. get an education (associates degree, at least)\n2. get a job\n3. save and invest\n\n*don't live above your means.  you do NOT need a new car, sweet stereo, or fabulous clothes and jewelry.
68870
According to Thomas Stanley, who authored _The Millionaire Next Door_ and _The Millionaire Mind_ (discussing US millionaires), a disproportionately high percentage of millionaires, multimillionaires and decamillionaires are self-employed business owners and entrepreneurs or self-employed professionals.  That doesn't say they didn't inherit money, but he also says (in _The Millionaire Next Door_) that of the millionaires he interviewed and studied, about 80 percent of them are first-generation affluent; i.e., they didn't inherit their money.  The lottery isn't covered, but I'd guess folks who became millionaires from the lottery is statistically small.\n\nIn other words, most millionaires in the US got there by working for it.
763904
Sorry, you have just shown that you do not have what it takes to become rich.  It takes work and time.
490486
Often, not always, welathy think their material wealth makes them inherently better people.  Often the opposite is true.  Many times wealthy demonstrate more character flaws than do middle class working individuals.  If your car ever breaks down it won't be a rich person who stops and helps--it will be a middle class or poor person.  I walked out of a shopping mall to find I had a dead battery late one night and I asked a nice BMW owner for a jump (i had cables in my trunk.)  He shook his head and said, "No."\n\nIn a poetic twist of fate that only O. Henry would appreciate, about two weeks later I drove past this guy while he was getting out of his car with a blown out tire.  It was late one evening and I was returning from a high school basketball game that had just ended.  I stopped to help him and I recognized him immediately.  He thanked me for stopping.  Once I saw him and laughed and reminded him of his refusal to help me with my dead battery.  He apologized and said he was in a hurry that day.  I smiled and said, "What do you know.  I'm in a hurry tonight.  Good luck, Pal."\n\nYes, I know I was just like him.  But perhaps for the first time in his life he understood how the shoe felt on HIS foot.  I may have helped him more by leaving him deserted on that lonely stretch of road than I could have ever helped him by changing his spare tire for him.
172582
Own your own business! All of the richest people, except those who inherited their fortune, worked for themselves in their own company.\nMany millionaires own dry cleaning outlets. Or are in real estate development, ETC
188946
bc some people are born into a family of wealth or a family who doesnt care if they work and support their lazy butts and other people work all their lives bc they dont have a choice they need money or they enjoying working
716145
Depends on "how" you mean by rich.  If you mean financially, just look at their clothes, car, accessories, home.\n\nBut there are other ways to be "rich."  I am rich in the fact that I have two beautiful wonderful happy healthy children, I have a wonderful loving family support system, my parents live next-door as does my brother and his family.   I have a wonderful extended family that is here, we all keep in touch, all across the States.  And we have pets that we consider part of our families.\n\nYou can tell, just by the smiles on their faces.  By the fact they have people around them.
244354
Do you mean wealthy as in have lots of money or have lots of things. People with lots of things usually are very poor. \n\nYou might want to read the Millionaire Next Door and then decide what do you really want. \n\nPerhaps your rich and just don't know it.
76537
The responsibility falls first on their family or heirs.  If there are none, or none can be found, then it their debts are taken out of their estate.  Cars, house, clothing, houshold, anything can can be sold at auction to pay the bills. \n\nMost people with no money (street people and bums) have no bills.  However, there have been people who have died that were thought to be paupers, and actually had thousands or even millions of dollars in the bank.  The collectors can get you one way or the other.
830311
You don't want to admit how much money you have if the people around you have less. You don't want to brag or make them feel bad. I think that's why rich people keep what they make to themselves.
679011
I'm not even middle class - I'm living paycheck to paycheck these days - divorce & my mom's medical bills decimated my savings & I can't seem to recoup. I reckon folks like Paris Hilton don't actually ever have to worry about money & I'd say the Bill Gates' types of the world have enough to cover their future progeny for several generations to come. Not me; I am scraping by.
115822
It also expands your social circle which can affect your personal life as well.\n\nSuppose you need help in choosing a car, or want a good deal on one.  What if you know someone senior at Mercedes?\n\nSuppose you are looking for a good apartment in Manhattan.  What if your best friend is a developer in the market?\n\nYou get the idea.
708641
Much extreme wealth was inherited.  There aren't a lot of self made people anymore but it does happen.\n\nGood investments help but knowing how to invest without being schemed or taken takes wisdom that most ordinary people just don't have.  Life is so full of trickery.\n\nIf you find out, let me in on it.
47977
I'd take the house - you can rent it out and have income.  If it burns down, you still have the lot value.  If you take the car, once it is ruined, it is gone.  The value in the car is in your ability to liquidate the asset, and to do that, you must find a buyer ready, willing and able to purchase the vehicle. The real estate has the potential to increase in value and is useable.  The vehicle seems more of a liability, and is impractical, unless you want to rent it out for weddings, etc.  Nonetheless, you still run the risk of depreciation every time you drive the vehicle out of the garage.  It's not like you can drive that car to the supermarket.  Of course, if you're looking to liquidate quickly, and have a qualified buyer, take the car, provided it is worth more than the house.  As an attorney, I can PROMISE you that the cash inheritance is NOT tax free! (Its called "estate tax") I'd say skip the cash, because you can liquidate both the other choices and yield more than the cash after taxes.
178957
how rich?\nDo chores for money or sell crap on ebay\n\nP.S nice hat lol
51704
You said "The deceased had no personal property that can be divided".\nThis statement could be misleading...\n\nThere is a difference between saying the above and saying "The deceased had No personal Property". \n\nA HOUSE can not be divided. A Diamond Ring, could not be divided. A Company could not be divided. \nBUT all of these have a tangible worth...\n\nThe answer is: The ESTATE is responsible for All the Bills of the deceased person...\n\nThat is to say, if the deceased owned a house worth $50,000, and had bills of $40,000, then they would have to SELL the house, and pay the Bills.. This leaves and estate of $10,000 which CAN be divided.\n\nThis is generally the case. The Bills must be paid, so the estate must Sell any and all assets needed inorder to pay them.\n\nIf there are 2 beneficiaries and they own a house jointly, one may buy the hoise for the fair market value of the house. THEN the money is used to pay off the Bills. ANy balance is then Split..\n\nBut, NO! \n\nThe amount of the indebitness greater than the amount of the liquidatable assets cannot be passed to the beneficiary. (Other than if they were Partners in business or married).\n\nI can inherit a car that is paid off from my uncle. \nBUT, if his net worth is negative, I can not inherit debt, I just inherit NOTHING, not even the car.