Retirement Planning - Lessons Learned

[goeduck]

I would like to hear your opinion on why Larry is wrong, if you don't mind.

This was not addressed to me but I have to comment. I do not think Larry is wrong in his method of creating personal wealth via capitalism, that is what capitalism is all about. Those that apply themselves are rewarded. I do think Larry is conflicted however since on one hand he exploits capitalism to become "rich". However he blames the "rich" (as if it is someone else) for exploiting (he calls it gaming) others, all the while being "rich" himself. Hats off to Larry for creating his wealth. When he laments that the poor need to be taken care of by the rich (which is often) I will now believe he is gaming us so we (everyone else) will take care of the poor.

 

[RickB]

Let me simplify that. Larry wants it both ways. He wants to reap the fruits of capitalism while vilifying the philosophy.

 

[Citydude]

Walmart employs 2.3 million people. Amazon 1.3 million people. Rich guys do have a place in capitalism.

 

[Steppenwolfe]

Read Wealth Of Nations. I cannot read it for you.

MoKelly

I have read a synopsis of it; still doesn't answer the question, does it? A blanket statement hardly makes for a convincing argument. Just because you read it, does not mean you gleaned an inkling from it...

 

[Steppenwolfe]

Larry I just read your #665 post...the bookstore/Amazon. You made good choices. I can't see the condemnation of second generation wealth, i.e., Sam Walton descendants wealth. So they inherited wealth.
You apparently have money (no business of mine how much), some day someone will inherit that.
I just found this:
"The Walton family is ranked fifth on the Forbes list of the top 25 billionaire philanthropists over the past five years.
Heirs to the fortune of Walmart Inc. founder Sam Walton, the family donated $2.3 billion between 2014 and 2018."
So how is that evil and destructive to our society?

How many billions did the US taxpayer subsidize through food stamps, section 8 housing, and healthcare because Walmart has for decades paid below living wages?

 

[Steppenwolfe]

This was not addressed to me but I have to comment. I do not think Larry is wrong in his method of creating personal wealth via capitalism, that is what capitalism is all about. Those that apply themselves are rewarded. I do think Larry is conflicted however since on one hand he exploits capitalism to become "rich". However he blames the "rich" (as if it is someone else) for exploiting (he calls it gaming) others, all the while being "rich" himself. Hats off to Larry for creating his wealth. When he laments that the poor need to be taken care of by the rich (which is often) I will now believe he is gaming us so we (everyone else) will take care of the poor.

I think Larry likes playing the Devil's Advocate...

 

[Macinnis]

I gotta quit this thread. I feel dumber with each post I read.

 

[RickB]

I gotta quit this thread. I feel dumber with each post I read.

Let's go get a beer.

 

[Fuddy1952]

Let's go get a beer.

Buy a craft beer from a small local brewery.

 

[Torvy]

Buy a craft beer from a small local brewery.

Ironic that most of the people I know who rail against Walmart think nothing of buying Budweiser.

I guess I see blaming Walmart for the loss of small business the same as blaming Deere for the loss of plow horses. Someone made a living breeding them and along comes someone who changes the world. One law of life is adapt or die. Lots of small businesses adapted and fill niches. Others died because they would not adapt.