Discussion in 'The Pub' started by Someguitarguy, Feb 2, 2018.
You hit the nail straight on the head!
You should be able to check your credit for free at least one time ASFAIK.
Problem is: even IF or when you have cash to pay for whatever it is you might be wanting, you're still most likely nowhere near financial independence. If you are then this spare cash just rolls into your account each week
You will never obtain "financial independence" unless you're are totally capable of self sustainability and sufficiency.
If you're capable to do this off nature which is a breed of it's own (off the grid) medical then becomes a concern.
I worked 2 full time jobs for many years and helped my dad at night I rode a bike everywhere. I knew people who are in their 60's working 3 jobs, not all at the same time of course. I'm sure there are people in their 60's working 3 jobs or working harder than they ever did even still.
Yes. At a minimum. It's not easy - and a person has to start
early. And people have to get out of the mindset that if I work
hard enough I will make the money. The path has never been
about working hard. It's amount being smart with money.
For example: In my lifetime Apple before Jobs returned was
$17 a share. Qualcomm 1991 $14 a share. Netflix when they
started was $15 a share.
Think about those investments if you put $1000 or so in the kitty for each.
Apple 1999 - 59 Shares @ $17 > 2016 Sell at $385 per share.
Qualcomm 1991 100 shares @ $14 > 2 Splits and 1 Spinoff and
and a sell off Dec 30th, 1999 would have netted $287,444.16
Netflix 2002 67 shares at $15 > 2018 67 Shares @ 267.43 =
Money is to be made - one just has to be observant and
think about life, trends and what the future may bring.
Personally I had the blessing of one of my best friends.
The Gal hasn't been wrong on a stock investment advice
in 35 years. She has a gift.
I also find it funny (yea, hilarious!..) that the Australian Government just hands out money to people with no assetts ir money. But if you have anything then you first have to lose it before they'll consider paying you.
Same, if you work hard to make it the best you can all your life and retire at 67, the more you have the less (or nothing) you will be elightable for.
So some people get on welfare their entire lives and essentially retire at 18 years old, receiving income for free. And others work very hard for their entire lives to scrape by on whatever they can manage to put aside for their elderly years. It's somewhat mad to think about
The welfare types do live a pretty shiddy life though and are normally complete losers though so I'll keep turning up to work
Oh I get ya... Liquidation of particular assets I'm constantly reassessing, the best ROI, so far it's been my properties that I've hung on and have provided an 8%-10 ROI, doubtful I'll reinvest in property now where the investment market stands today.
However if savvy real estate has always proven over all to be one of the best.
I fortunately reconnected with an old gal friend of a heavy 5 year relationship back in the 80's, (wonderful woman I still can connect with) made BIG $mm bank in real estate top ten sales in the nation at 24 for the top 5 RE companies. Now in OR and up in Seattle and Bellevue, commercial and consumer that's say I could seek her advice.
Otherwise I dunno at this time in life ...Sell it all and by a big RV? lol
Or figure out a relationship. LOL!
Real Estate was a good investment strategy. It's still worthwhile depending
on the approach. One way for you to make money is taking advantage of
the Equity in your properties. That could fund other property purchases
where you buy in at $300K and sell it at $400K a few years later.
Another route is the Real Estate Investment Groups - that's where
5 or 10 people just like you - in the same economic state put in
x amount of dollars into a Kitty that buys property with your combined
economic force - then sells it - and usually returns something decent back
- at the $50K - $100K investments I've been seeing 20% come back.
You can see where that heads - that's some significant retirement
funds coming back to you over 10 years.
Life is good.
What wild dingoes eating babies?
I hope to have a few options ahead in both ways...
Right now I'm working to figure out an investment on a secluded property, the 40 acre land and home are worth $365K however there is $1m of timber.... Strip it it's not "secluded and desirable" less value, by zone you can break one 20 acre one lot (20 min).
Or step on Pokey McPoisonface
If you're paying more than $50/month for one cellphone line, you're getting robbed.
Here's some things we did:
Look at every bill you get, and try to figure out how to get it lower. Usually, in an afternoon of calling, or signing up online, you can save hundreds of dollars a year, on everything and get the same or better service.
Do that with every aspect of your business - learn the difference between want and need.
Get as much money as you can afford into investments - get the money working for you.
If asking rhetorically, many previous answers should suffice. If asking specifically, the answer is what's known as "fiat currency".
Did you invest in the stock market ? Not like a gambler, but like a long term investor, 401K or Roth IRA (Tax advantages) with carefully picked mutual funds or a carefully picked and diversified stock portfolio, to minimize risk.
It pays off in spades, in the long run. Much better than most people believe or would imagine. Fear and greed stop people from doing the right things with money, as with other things. Conservative investment in the long hall is a good way to gain for the future. even if you are 50 years old, there a pretty good chance (1 in 4) you will live to be 92 years old or older. That's 42 more years. Take a look at what the Dow Jones Industrial average was around 800 back then ! 800 !
Today, even with a bad week in the market it's still on the high side of 25,000. That's roughly 31 times the value. Adjusted for inflation, you would have gained a tidy sum.
It's the same story more or less with any long term period you would like to chose. Think long term, but act now and invest the money you will need down the road. Don't invest today's dollars to be used in the short run, invest for the long term.
Don't buy new in anything, if you can avoid it.
Make a Budget, and real world budget based on your recorded expenses of the last 6 months. Trim the Fat where you can, look at your expenses from the top cost down. Control the top cost items.
Spend Below Your Means, Invest the rest in diversified stocks. 20 years from now, you will most likely be singing a different tune.
You got that right! For a reference in 1955 a dollar was worth 100 pennies. Years ago when Perot was on the platform running with Bill Clinton and George Sr., he made a comment that struck me as odd. He said that a dollar at that moment in time was worth 19 cents. I tried to wrap my head around that and several years back I looked at a few samplings of basing how much the dollar was worth then....I guess about 5 years ago and it was then worth ranging from 7.53-10 cents. I don't know how much a dollar is worth now but I understand things a bit better. Prices don't necessarily rise that much, it's the value of the dollar has fallen so much.
Is your money working for you? Investments?
The metal-coin type or the folding paper type?
38 years ago the rate of inflation in the US was 13.91 percent so your real rate of return was a measly 0.09 percent.