Getbig Bodybuilding, Figure and Fitness Forums
Getbig Main Boards => Gossip & Opinions => Topic started by: FitnessFrenzy on June 28, 2015, 06:36:42 AM
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Let's see if this thread has a potential to not blow up with outrageous claims.
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I'm not a fisherman. I have no nets.
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Absolute shit thread.....10 pages minimum
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XFACTOR is worth $400 Trillion, but can't settle a $100 bet.
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XFACTOR is worth $400 Trillion, but can't settle a $100 bet.
;D ;D ;D
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:o :o :o :o all my money is tied up in these,,,, :o :o :o ::) ::) ::) ::) ::)
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XFACTOR is worth $400 Trillion, but can't settle a $100 bet.
But to be fair.....$200 trillion was borrowed from the fortune Groink stole
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XFactor does business with the Rothschild family. They are often friends and often go to art openings together.
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Waiting for someone to include their 300K house when they only have 30K in equity in it. The same person will include their leased (rented) cars.
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if I was a billionaire I would move to Sylva for 3 months to make a YouTube documentary series about Goodrum's life.
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$7,897 in Flex Magazines.
$4,689 in supplements.
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Does monopoly money count ;D
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if i deduct the NPV of raising three kids plus my share of govt debt, Im worth quite a big number with a negative sign at the front.
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Overall 3000$ debt free.
All Micro Trump.
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I do have a large number of shares in Calibre Fitness. So once that takes off I'll move to Dubai full time.
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I do have a large number of shares in Calibre Fitness. So once that takes off I'll move to Dubai full time.
lucky you. I can no longer afford Caliber Fitness shares. Some people just know a gem in the rough when they see it.
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I'm married - so about 50% of what I think it is.
Then I have 2 kids - so take off another half.
So basically, fuck all.
But I have fun - does that count?
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We should all express our net worth in terms of Goodrum. As in, "I am worth ~47.5 Goodrums"
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I'll have a 200k annuity available when I turn 40 which is in a year and a half along with a stock pile of gold & precious jewels.
But most of my net worth is tied up in my very successful online supplement company, Caliber Fitness Solutions, which is the most innovative health and fitness company to ever exist.
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We should all express our net worth in terms of Goodrum. As in, "I am worth ~47.5 Goodrums"
Only 47.5 goodrums?thats below the poverty line.
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Only 47.5 goodrums?thats below the poverty line.
That's a sample so the rest of you won't feel bad. My net worth is the thousands of Goodrums.
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I'd guess a couple million Goodrums.
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My only real asset is a storage unit that contains $4,000 worth of Beanie Babies and $2,500 in Tickle me Elmos.
The only problem is that I had to finance them, so when you consider the interest and the cost of storage, I'm actually at a negative net worth.
Once those Beanie Babies start to appreciate though, I'm gonna be stanky rich. Now I play the waiting game.
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Most getbiggers are too stupid to know how to calculate net worth. Mine is not much maybe a few thousand. Primarily so low because I still have student loan debts. :(
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I have a good pension
outside of that fuck all
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Not much compared to the average getbigger, my first house that I rent out is worth about £80,000 and mortgage is about £39,000, my main home which I'm part way through renovating is probably worth around 125k in current state and mortgage is 80k, should push 180k when finished (extended to 5 bed with side extension and loft conversion, all work done myself so material cost only)
Other than that I got absolute fuck all, no pension, no fancy car ect about 15k in savings.
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About tree fiddy.
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I just like every one else brought nowt with me into this world when I was born
And will take exactly the same out when I leave.
While on this planet I try to enjoy as much as possible.
Sadly it's all borrowed as I can't keep it or take it with me.
;)
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About tree fiddy.
Twice what I'm worth!
;D
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Nudfin'
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I've put all my funds into a white towel venture in Uganda. will let you know how that goes.
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Most getbiggers are too stupid to know how to calculate net worth. Mine is not much maybe a few thousand. Primarily so low because I still have student loan debts. :(
True.
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:o :o :o :o all my money is tied up in these,,,, :o :o :o ::) ::) ::) ::) ::)
Dont mean to be a dick but at least half your posts involve those plates. Is there a reason?
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Dont mean to be a dick but at least half your posts involve those plates. Is there a reason?
Didn't you read his post, dick ::)
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It was a lot more before my divorce.
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I have a good pension
outside of that fuck all
That's what the Greeks said....last week.
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Less before the weekend started
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Less before the weekend started
I used to do stupid shit like that, and think it was cool. You'll grow out of it.
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Less before the weekend started
The Red Bull is Goodrum approved.
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Less before the weekend started
Horrible thing to spend your life's savings on
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Business has been growing lately. I'm only a small business. Last few months i would estimate averaging 8-9K a week profit, hard to tell exactly as i spend about a third of profits on new stock. Stock levels worth about $300K i would say. Bank $170K. Bit of cash aside too ;). Had some bad times a few years ago took a long while to get going, what i am doing now wasn't even what i was trying to do but overall other stuff took off and the main business i was doing is just plodding along. Car is only worth what i'm making in a week now it's funny.
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Business has been growing lately. I'm only a small business. Last few months i would estimate averaging 8-9K a week profit, hard to tell exactly as i spend about a third of profits on new stock. Stock levels worth about $300K i would say. Bank $170K. Bit of cash aside too ;). Had some bad times a few years ago took a long while to get going, what i am doing now wasn't even what i was trying to do but overall other stuff took off and the main business i was doing is just plodding along. Car is only worth what i'm making in a week now it's funny.
have you considered buying some (corporate) bonds? Your stock as percentage of your total wealth, is quite high and thus maybe also a bit risky.
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have you considered buying some (corporate) bonds? Your stock as percentage of your total wealth, is quite high and thus maybe also a bit risky.
The stock won't go off. I'm trying to lower it buy not ordering too much but some companies i deal with keep offering me great specials on stuff i'm already selling so i snap them up every time. Also the more i get in the more i am selling so it's worth spending 2-3K a week on new stock if it keeps everything going up 1K extra every few months. I have been waiting for it to drop but even if i have a few slow days, Friday and the weekend just smashes it more and makes up for it. I'll be running it down with specials over the next few months.
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I've put all my funds into a white towel venture in Uganda. will let you know how that goes.
It's easy to talk the talk.
I actually went to Uganda a couple of months back and fulfilled my lifelong ambition.
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It's easy to talk the talk.
I actually went to Uganda a couple of months back and fulfilled my lifelong ambition.
Did you not catch teh aids?
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Did you not catch teh aids?
Grapefruit in their natural habitat can give you AIDS?
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Did you not catch teh aids?
No I used condoms.
I did catch Ameobic Dysentry though. Basically breeds in your intestines and burrows holes in them, so that you only shit slime and blood.
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No I used condoms.
I did catch Ameobic Dysentry though. Basically breeds in your intestines and burrows holes in them, so that you only shit slime and blood.
I checked the "went to Africa" box 20 years ago. No desire to return. I've seen enough cheapening of human life to last me, thanks.
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I checked the "went to Africa" box 20 years ago. No desire to return. I've seen enough cheapening of human life to last me, thanks.
Africa is beautiful...as long that you visit places far away from Africans.
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Africa is beautiful...as long that you visit places far away from Africans.
That'll be hard. Africans have been shipped all over the world.
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Africa is beautiful...as long that you visit places far away from Africans.
Yes, my parents were and still are big fans of Cape Town. Never actually made it any further south than Zim.
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Not much by getbig standard but mortage is paid and I have no debts remaining...
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Not much by getbig standard but mortage is paid and I have no debts remaining...
Deosnt get much better than that
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I've paid off about 50% of my mortgage. I own a small condo i purchased in college that i rent out that makes me a few hundred a month. My family has land in central Texas that isn't worth a lot, but i own about 20% (120 acres was given to me by my grandfather when he died). Probably build a weekend house out there one day, it's old farm land that they still run cattle on. Not much use for the land other than that. A halfway healthy 401k and various small investments.
I'd like to retire around 55. No wife or kids.
My problem is i like to travel, so i have to balance that out because it gets expensive fast. Just got back for 16 days in Germany.
8)
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I've paid off about 50% of my mortgage. I own a small condo i purchased in college that i rent out that makes me a few hundred a month. My family has land in central Texas that isn't worth a lot, but i own about 20% (120 acres was given to me by my grandfather when he died). Probably build a weekend house out there one day, it's old farm land that they still run cattle on. Not much use for the land other than that. A halfway healthy 401k and various small investments.
I'd like to retire around 55. No wife or kids.
My problem is i like to travel, so i have to balance that out because it gets expensive fast. Just got back for 16 days in Germany.
8)
do you plan to start a family when retired?
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-250k lol....just bought a house. Thank the hebrews for debt!
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have you considered buying some (corporate) bonds? Your stock as percentage of your total wealth, is quite high and thus maybe also a bit risky.
Right now, I'm personally about 40% long on stocks / calls, about 20% short stock & long on puts, about 15% long commodities (gold, crude, silver, etc), a little over 20% cash, and about 5% (or less) bonds / debt...
The main reason I don't have much in bonds / debt right now is because existing bonds will likely get hammered when rates go up. And since I'm probably a long way from needing the income from bonds, I'd rather keep most of my money in equities for growth in general anyway.
Most of what little debt I have right now is higher yielding mildly distressed corporate and emerging markets debt that I bought at discounts, and a little local tax-free muni debt paying a nice coupon.
I also dipped my nose in a little short term Puerto Rican debt a while back that is insured, luckily. ;)
THIS is a receipt that actually impresses me... http://nypost.com/2011/06/30/atm-receipt-showing-astounding-100m-balance-left-at-hamptons-bank/ (http://nypost.com/2011/06/30/atm-receipt-showing-astounding-100m-balance-left-at-hamptons-bank/)
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Some urine, a pot, but no window.
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Africa is beautiful...as long that you visit places far away from Africans.
Belgian Kongo was great place under King Leopold chopping off hands rules .............
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Let's just say I make enough money to eat 4 chicken breasts... A DAY
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I'm worth a comfortable 8k.
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I'm worth a comfortable 8k.
Gross or net?
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Gross or net?
Net...it's real deal money
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Net...it's real deal money
Eight. Thousand. Doughnuts.
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I am seriously thinking to rebuild The Bergoff for Club the Madrid members only 8)
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I used to do stupid shit like that, and think it was cool. You'll grow out of it.
Lol so true
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Right now, I'm personally about 40% long on stocks / calls, about 20% short stock & long on puts, about 15% long commodities (gold, crude, silver, etc), a little over 20% cash, and about 5% (or less) bonds / debt...
The main reason I don't have much in bonds / debt right now is because existing bonds will likely get hammered when rates go up. And since I'm probably a long way from needing the income from bonds, I'd rather keep most of my money in equities for growth in general anyway.
Most of what little debt I have right now is higher yielding mildly distressed corporate and emerging markets debt that I bought at discounts, and a little local tax-free muni debt paying a nice coupon.
I also dipped my nose in a little short term Puerto Rican debt a while back that is insured, luckily. ;)
THIS is a receipt that actually impresses me... http://nypost.com/2011/06/30/atm-receipt-showing-astounding-100m-balance-left-at-hamptons-bank/ (http://nypost.com/2011/06/30/atm-receipt-showing-astounding-100m-balance-left-at-hamptons-bank/)
Do you invest in mutual funds? About 80 percent of my wealth is tied into about 6 different funds at the moment.
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Do you invest in mutual funds? About 80 percent of my wealth is tied into about 6 different funds at the moment.
Smart. Mutual funds are great long term.
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Let's just say if I put the real amount the majority of you nuts will say I'm lying. So I'll just say it's somewhere between $1 and $10 million dollars.
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Do you invest in mutual funds? About 80 percent of my wealth is tied into about 6 different funds at the moment.
Yes, in my more conservative retirement accounts.
My taxable accounts are more aggressive and more active and pretty much anything goes.
I also manage about $100 mil for a handful of wealthy clients - been an IA for over a decade. Went independent about a half dozen years ago.
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Let's just say if I put the real amount the majority of you nuts will say I'm lying. So I'll just say it's somewhere between $1 and $10 million dollars.
I believe you. Those who act like it's impossible for someone to become a millionaire or multi-millionaire after years of working hard and smart, saving a good chunk of their earnings, and investing most of their savings wisely are those who are very young, don't understand personal finance, and who are probably marginally employed or spend too much money (or some combination of all of these).
$1 mil USD really isn't all that much money these days. It basically provides one pretty high probability of a lower middle class existence for life in most regions of the US if they pay off pretty much all debt and stop working. Ten million gives one far more freedom and a much higher standard of living for life as long as they don't get stupid.
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2Thick. I bought PA the GREK etf this week.
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2Thick. I bought PA the GREK etf this week.
This one?
http://finance.yahoo.com/echarts?s=GRE.PA+Interactive#{"allowChartStacking":true} (http://finance.yahoo.com/echarts?s=GRE.PA+Interactive#{"allowChartStacking":true})
I've had a few bucks in a S&P short ETF as a hedge.
http://finance.yahoo.com/echarts?s=SH+Interactive#{"range":"ytd","allowChartStacking":true} (http://finance.yahoo.com/echarts?s=SH+Interactive#{"range":"ytd","allowChartStacking":true})
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Reply # 70 wraps it up fairly good. One million in income producing assets along with either a safe pension or SSI will provide you a lower middle income retirement from lets say 65 until death at lets say 85. If you don't have that you will be poor...period. Either living in hillbilly heaven trailer park or back in the ghetto with family all jammed into a tiny space. Food stamps and government handouts will be your life line.
Then the big "if". If we do not have an all out war, viral pandemic, collapse of the dollar, or cyber attack on our electrical grid...each of which will have you scavenging the woods for walnuts, seeds, small critters, bird eggs and grubs. Then you will be elbow to elbow fighting for bare sustenance with the celebrities, politicians and billionaires who do not have a productive food garden on their estate. Think about it...no electricity to pump your water, pump your gas, pump fuel for supermarket delivery trucks or light you home. No food for Fido or Kitty. They will become tomorrows dinner. Then NEVER look like you have stock piled food or water unless you are willing to shoot your neighbors who are trying to bust in your front door.
Chit...I just scared myself! My next million will be for army rations, water storage and bullets.
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If you've got a million invested wisely mostly or entirely in some good corporate and muni bonds, and maybe a little in some solid high-dividend stocks, perhaps a few bucks in a good paying REIT, etc - you should expect to earn somewhere between $40-50k a year for life without having to dig into your principal... at least statistically speaking.
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This one?
http://finance.yahoo.com/echarts?s=GRE.PA+Interactive#{"allowChartStacking":true} (http://finance.yahoo.com/echarts?s=GRE.PA+Interactive#{"allowChartStacking":true})
I've had a few bucks in a S&P short ETF as a hedge.
http://finance.yahoo.com/echarts?s=SH+Interactive#{"range":"ytd","allowChartStacking":true} (http://finance.yahoo.com/echarts?s=SH+Interactive#{"range":"ytd","allowChartStacking":true})
no the ftse x shares. but its the same underlying 20 stocks. the banks might be screwed but there is some optionality there and im fairly constrained in my options. my first choice was the 2yr bonds but cant buy them. id say there is a good chance of a technocrat govt next week.
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No I used condoms.
I did catch Ameobic Dysentry though. Basically breeds in your intestines and burrows holes in them, so that you only shit slime and blood.
;D
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XFACTOR is worth $400 Trillion, but can't settle a $100 bet.
well Xfactor insisted that the bet be $100 U.S. so that's about $125.77 Canadian for X.
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Between the real estate I've acquired from Hurricane Beef and Juruth I'm a getbig billionaire. But I hear the market is going to crash soon so I need to dump it soon. It's going to be swamp land.
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Market will crash soon. But you can still make money if you move into cash now and buy after the crash happens. Cash is king when markets correct.
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Deosnt get much better than that
It's a good start but trust it can get ALOT better than that :)
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Right now, I'm personally about 40% long on stocks / calls, about 20% short stock & long on puts, about 15% long commodities (gold, crude, silver, etc), a little over 20% cash, and about 5% (or less) bonds / debt...
The main reason I don't have much in bonds / debt right now is because existing bonds will likely get hammered when rates go up. And since I'm probably a long way from needing the income from bonds, I'd rather keep most of my money in equities for growth in general anyway.
Most of what little debt I have right now is higher yielding mildly distressed corporate and emerging markets debt that I bought at discounts, and a little local tax-free muni debt paying a nice coupon.
I also dipped my nose in a little short term Puerto Rican debt a while back that is insured, luckily. ;)
THIS is a receipt that actually impresses me... http://nypost.com/2011/06/30/atm-receipt-showing-astounding-100m-balance-left-at-hamptons-bank/ (http://nypost.com/2011/06/30/atm-receipt-showing-astounding-100m-balance-left-at-hamptons-bank/)
Dude if you think bonds will get hammered when rates rise don't u think equities wil her hit the same? It's common sense man. Sell stock and stay in cash for now. Your patience will be rewarded.
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Not sure why anyone would own bonds, especially right now.
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Not sure why anyone would own bonds, especially right now.
Agree. Bonds are overvalued and set to fall. Not worth the risk to hold right now.
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Market will crash soon. But you can still make money if you move into cash now and buy after the crash happens. Cash is king when markets correct.
why?
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Because it overvalued. And overvalued markets crash.
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Anyone with real wealth will never post about it here - that I can assure you.
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Anyone with real wealth will never post about it here - that I can assure you.
I tend to agree. I think i posted mine a while back on another thread and no one believed me anyhow ...
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Less before the weekend started
Well done - 2 weeks pay on a night out.
How's the rest of the month panning out?
(http://www.directwholesalefoods.com/wp-content/uploads/2012/09/39339%20OC%20454%20SC%20PMP%20HR.png)
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Smart. Mutual funds are great long term.
Yes - for mutual fund companies
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Yes - for mutual fund companies
::)
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Basile is proud owner of : 2 urinals & 3 toilet bowls :P
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Anyone with real wealth will never post about it here - that I can assure you.
>:( >:( >:(
Basile is very "successful" businessman , how can U forget that :(
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>:( >:( >:(
Basile is very "successful" businessman , how can U forget that :(
You're confused. You're thinking of the other Vince. Goodrum. :D
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Case of grapefruits
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I have no debt. I have roughly 29k in my daily-use account and own a property and part own another one with my brother and part own another one with my ex girlfriend. I don't have a car as I get one through work.
Beyond the above, I have nothing.
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Between the real estate I've acquired from Hurricane Beef and Juruth I'm a getbig billionaire. But I hear the market is going to crash soon so I need to dump it soon. It's going to be swamp land.
Do we recall when Dinklage claimed to pull in $50,000 a month and know more about economics that others? How many at this end would drop almost 1/4 of their annual income on a depreciating asset like a car when they have a family to support?
Also THE BEEF does not recall having assets in a skanky town like sunset beach
THE BEEF
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You're confused. You're thinking of the other Vince. Goodrum. :D
:P
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Do we recall when Dinklage claimed to pull in $50,000 a month and know more about economics that others? How many at this end would drop almost 1/4 of their annual income on a depreciating asset like a car when they have a family to support?
Also THE BEEF does not recall having assets in a skanky town like sunset beach
THE BEEF
Is that picture of the guy with the cook costume on you?
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Is that picture of the guy with the cook costume on you?
What do you think? PM THE BEEF if you want to know
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I am married so that means I can only access all of my net worth if I eat the same pussy for the next 50 years.
That aside, we have no moveable debts credit cards/loans/car finance etc, so once our mortgage is paid up we have made a lot of money from our first house and can invest more in other properties
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Dude if you think bonds will get hammered when rates rise don't u think equities wil her hit the same? It's common sense man. Sell stock and stay in cash for now. Your patience will be rewarded.
Not all equities will react the same when rates inevitably rise. Some industries tend to react positively.
Many bonds that get hit hard never make it back to where they were until they reach maturity (assuming they do). And again, all bonds are not the same. Treasuries will tend to react differently from investment grade corporates, which will tend to react differently from high yields. And short term debt is less affected than longterm debt.
You cannot tell me that a small cap biotech that announces a result of a drug trial or FDA decision won't move a great deal in either direction in a short timeframe on the good or not so good news, regardless of whether rates are at zero or 5% or whatever. Puts and calls. Maybe a small long stock position if the company is pretty sound fundamentally. Just one example...
Bottom line, I do not have a crystal ball and therefore do not ever try to convince myself that I'm anywhere near 100% certain of this or that happening, particularly in the short term. Anyone who tries to convince me that they are certain of this or that is not someone I can take seriously after 21 years of investing. You're going to be right on the money on occasion, but most of your predictions will be at least a little off. And some will be dead wrong.
If I'm right 51% of the time in the short term, I'm thrilled. But I'm more focused on trying to be 90+% right in the longer term, and having my right investments be far more right than my wrong investments are wrong.
Some money in long equities and call options, some in commodities, some in cash, some short in equities and long in put options, etc. I sometimes also sell a few covered calls on occasion. I'm never, ever 100% in cash, or 100% long stocks, or 100% commodities or whatever, although I certainly do play with the allocations from time to time.
Many of my long stock positions can be pretty volatile. These are generally hedged with puts. I may sell them off partially or entirely when I feel it is warranted. Of course every realized gain is a taxable event in a taxable account.
Larger, less volatile companies that are overpriced like GM and recently GE are usually actually shorted. More volatile companies that appear to be way overpriced like Amazon, Netflix, and Tesla (and thousands of others) are handled more carefully via put options.
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why?
Nobody knows for sure when this will happen, nor how bad it will be.
Markets always crash ever so often sooner or later. It's really easy to make such a vague prediction then proclaim yourself a genius after the fact.
If someone cannot give me dates and amounts of tops and bottoms (which no one can), I don't really take them seriously.
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Anyone with real wealth will never post about it here - that I can assure you.
After working in various financial services fields over the last couple of decades, I've found that you can often tell quite a bit about a person's wealth, credit status, etc by the way they act in general if you pay attention and are aware of what to look for.
When I was in lending many years ago, I quickly learned enough about people to be able to predict with about 95% accuracy over the phone whether a person would get approved for a loan before the application was even complete and their credit was pulled. I was about 98-99% accurate when they would come in and apply in person.
And I've learned a great deal about sniffing out wealth / fake wealth over the last 11 years I've been an IA. Multimillionaires don't act like it's life's crowning achievement when they buy a decent car or nice piece of jewelry, for instance - it's just not that big of a deal. A rich man or soon to be rich man will do and think and talk about his work 18 hours a day - making and investing more money and piling up wealth are what's important to the wealthy - any toys are just icing on the cake.
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me too
if i recognize any actor from a blockbuster i can tell theyre wealthy 99% of the time
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I know people that own a million dollar plus home, Cars in the hundred thousand price ranges but are borrowing all of the cash yet claim a net worth in the millions. The fact is minus their debt they have 0 net worth
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I know people that own a million dollar plus home, Cars in the hundred thousand price ranges but are borrowing all of the cash yet claim a net worth in the millions. The fact is minus their debt they have 0 net worth
Exactly why I stated earlier most people don't know how to calculate their net worth.
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I am married so that means I can only access all of my net worth if I eat the same pussy for the next 50 years.
This make me :'( :'( :'(, man need fresh pussy every 3-4 months ;)
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This make me :'( :'( :'(, man need fresh pussy every 3-4 months ;)
You do what you gotta do man. Sometimes I style her pubes and use face paint to keep it interesting, last night I face fucked the big hairy guy from Monsters inc for example.
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my net worth is such that I could, from my own estimates, fill a Jaguar 3/4 inside with chicken breasts.
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You do what you gotta do man. Sometimes I style her pubes and use face paint to keep it interesting, last night I face fucked the big hairy guy from Monsters inc for example.
:-\ :-\
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This one?
http://finance.yahoo.com/echarts?s=GRE.PA+Interactive#{"allowChartStacking":true} (http://finance.yahoo.com/echarts?s=GRE.PA+Interactive#{"allowChartStacking":true})
I've had a few bucks in a S&P short ETF as a hedge.
http://finance.yahoo.com/echarts?s=SH+Interactive#{"range":"ytd","allowChartStacking":true} (http://finance.yahoo.com/echarts?s=SH+Interactive#{"range":"ytd","allowChartStacking":true})
i bought three slugs in total including some this morning. little bit in the money today, need to see an agreement though tomorrow or sat.
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i bought three slugs in total including some this morning. little bit in the money today, need to see an agreement though tomorrow or sat.
I've been doing pretty well overall buying small lots of some of these smaller biotechs. I've bought a couple in the last several weeks that sold off some 70+% in one day on drug trial issues, and have bought quite a few winners this year days or weeks after they've popped up big on good news and have settled back down. They almost always seem to pop back up again, sometimes even more. I tend to cover with puts if I'm buying a substantial amount on these.
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Whats better than real estate
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Whats better than real estate
Not much. One of the best investments.
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I'm worth 3.4 billion.
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Exactly why I stated earlier most people don't know how to calculate their net worth.
You know your net worth when you buy a house right?
I remeber it being a line item in one of my home purchases ( 3 in my lifetime)
Essentially i have dick, like most (in their early 30s) but over time that will change.
Take my kid and wife into equation and im with the rest of you bums
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You know your net worth when you buy a house right?
I remeber it being a line item in one of my home purchases ( 3 in my lifetime)
Essentially i have dick, like most (in their early 30s) but over time that will change.
Take my kid and wife into equation and im with the rest of you bums
Net worth is assets minus debts.
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I know people that own a million dollar plus home, Cars in the hundred thousand price ranges but are borrowing all of the cash yet claim a net worth in the millions. The fact is minus their debt they have 0 net worth
I'm sorry but this is the sort of ignorant shit that all the dumb jealous folks believe.
Why would someone lend you a million for a house and hundreds of thousands for cars if you didn't have the net assets to make you credit worthy? Wealthy people borrow to buy but they need to have the credit rating to be able to borrow.
I can make a 10-15% return on investment by keeping cash within my company. Last week I bought my kid a car to learn to drive in. Nothing special just a nice MINI. I'm financing it over 48 months at just 3.8% flat rate interest. This means I can keep $25,000 in my company and make 15% on it instead of taking it as a dividend and paying cash for the car. So I'm 10% up on the deal.
Wealthy folks borrow all the time. The only people who pay cash are pimps, black, rednecks and others impressed by cash who frankly don't have the ability to raise cheap credit.
Oh and I'm not shy about asking for the best deal. Got $400 off the car without thinking that the salesman would think I can't afford it.
I guess the fact I rolled up in my S class merc maybe had something to do with having instant credibility.
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My net is worth the $10.00 I paid for it at Walmart, put it on my basketball setup on FRI...
(http://previews.123rf.com/images/thesupe87/thesupe870807/thesupe87080700296/3369401-A-basketball-hoop-found-at-the-park-in-sepia-tone--Stock-Photo-basketball-court.jpg)
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I live in Holland, the country without poor or rich people..... :-X
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He's basically describing the majority of Americans. I know from working in various personal finance related industries over the last 21 years that many / most people do live beyond their means and borrow as much as they can in order to have as much house and cars and fancy living as they can get themselves into - keep up with the Joneses, show 'em watchu got, etc. This was part of the reason we saw what we saw in '08.
Nothing wrong with sensible borrowing - it's usually a necessary evil for most of us when we're young. But the goal should be to eventually get debt-free.
I know many wealthy people who never finance anything - not cars, not homes, not anything. Those who borrow tend to borrow for business and can usually find ways to write it off.
You can only write off $1 mil for one primary or secondary residence on the mortgage interest deduction, so if you're buying a multi-million dollar home, there's really no need to mortgage it just for the deduction, unless you don't have much cash laying around.
I personally paid off all of my debt (mortgage, cars, etc) and pretty much stopped all borrowing a few years ago when them there nice oil company fellers found crude and nat gas on my land. ;D
I'm sorry but this is the sort of ignorant shit that all the dumb jealous folks believe.
Why would someone lend you a million for a house and hundreds of thousands for cars if you didn't have the net assets to make you credit worthy? Wealthy people borrow to buy but they need to have the credit rating to be able to borrow.
I can make a 10-15% return on investment by keeping cash within my company. Last week I bought my kid a car to learn to drive in. Nothing special just a nice MINI. I'm financing it over 48 months at just 3.8% flat rate interest. This means I can keep $25,000 in my company and make 15% on it instead of taking it as a dividend and paying cash for the car. So I'm 10% up on the deal.
Wealthy folks borrow all the time. The only people who pay cash are pimps, black, rednecks and others impressed by cash who frankly don't have the ability to raise cheap credit.
Oh and I'm not shy about asking for the best deal. Got $400 off the car without thinking that the salesman would think I can't afford it.
I guess the fact I rolled up in my S class merc maybe had something to do with having instant credibility.
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He's basically describing the majority of Americans. I know from working in various personal finance related industries over the last 21 years that many / most people do live beyond their means and borrow as much as they can in order to have as much house and cars and fancy living as they can get themselves into - keep up with the Joneses, show 'em watchu got, etc. This was part of the reason we saw what we saw in '08.
Nothing wrong with sensible borrowing - it's usually a necessary evil for most of us when we're young. But the goal should be to eventually get debt-free.
I know many wealthy people who never finance anything - not cars, not homes, not anything. Those who borrow tend to borrow for business and can usually find ways to write it off.
I have a few wealthy friends who live like this. My neighbor is a huge investment guy and makes about half a million a year easily. He owns a house smaller than mine and drives a 2002 Honda Civic. However, he does have a few toys (boat, motorcycle, 4-wheeler). This guy doesn't even care about money, he has that much. I discuss money with him every now and then, he has some incredible ideas. The only time he has ever borrowed money is when he bought his house. Everything else he paid cash money.
This guy was selling wheels and tires out of the back of his truck in high school. He's always been good with business. Not a care in the world, just works and enjoys life. You would never know he was worth millions if you met him. In fact, most people have no idea he even has money.
Compare him to 95% of my other friends/family that live paychech to paycheck. A good friend of mine makes a decent living with no kids. The guy is broke as hell while making 150k a year. I've never understood how this is possible. He has like 3 cars and a 5 bedroom house all to himself. Always worried about money and stressed about his job. Fuck all that.
I found a happy medium. I have some cool stuff, but nothing crazy. Hoping to retire young.
Almost all American's that i know well are terrible with money. Why worry about saving money when you can finance and overpay? Lol
8)
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I have a few wealthy friends who live like this. My neighbor is a huge investment guy and makes about half a million a year easily. He owns a house smaller than mine and drives a 2002 Honda Civic. However, he does have a few toys (boat, motorcycle, 4-wheeler). This guy doesn't even care about money, he has that much. I discuss money with him every now and then, he has some incredible ideas. The only time he has ever borrowed money is when he bought his house. Everything else he paid cash money.
This guy was selling wheels and tires out of the back of his truck in high school. He's always been good with business. Not a care in the world, just works and enjoys life. You would never know he was worth millions if you met him. In fact, most people have no idea he even has money.
Compare him to 95% of my other friends/family that live paychech to paycheck. A good friend of mine makes a decent living with no kids. The guy is broke as hell while making 150k a year. I've never understood how this is possible. He has like 3 cars and a 5 bedroom house all to himself. Always worried about money and stressed about his job. Fuck all that.
I found a happy medium. I have some cool stuff, but nothing crazy. Hoping to retire young.
Almost all American's that i know well are terrible with money. Why worry about saving money when you can finance and overpay? Lol
8)
The Millionaire Next Door Kindle Edition
by Thomas J. Stanley Ph.D.
(http://ecx.images-amazon.com/images/I/51RAGLhJTLL._SX321_BO1,204,203,200_.jpg)
http://www.amazon.com/Millionaire-Next-Thomas-Stanley-Ph-D-ebook/dp/B00CLT31D6/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1436979453&sr=1-1&keywords=the+millionaire+next+door
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Not sure why anyone would own bonds, especially right now.
"What I advise here is essentially identical to certain instructions I’ve laid out in my will. One bequest provides that cash will be delivered to a trustee for my wife’s benefit…My advice to the trustee could not be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund. (I suggest Vanguard’s.) I believe the trust’s long-term results from this policy will be superior to those attained by most investors…" - Warren Buffett
http://www.forbes.com/sites/davidwismer/2014/03/02/warren-buffett-investing-advice-for-you-and-my-wife-and-other-quotes-of-the-week/
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Coach is a multi millionaire.
THE BEEF
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The Millionaire Next Door Kindle Edition
by Thomas J. Stanley Ph.D.
(http://ecx.images-amazon.com/images/I/51RAGLhJTLL._SX321_BO1,204,203,200_.jpg)
http://www.amazon.com/Millionaire-Next-Thomas-Stanley-Ph-D-ebook/dp/B00CLT31D6/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1436979453&sr=1-1&keywords=the+millionaire+next+door
I read that book.
There's a huge difference between someone who managed to collect a million dollar in assets over their lifetime as opposed to someone who is a real millionaire per se....the book focuses on the first element....a rather successful middle class average Joe who is also frugal and good at saving.
My advice if you want to become a "real" millionaire is to focus on other elements than frugality which that book promotes....entrepreneur ial spirit is what makes the real millionaires.
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Coach is a flat out MM baller. $50, 000 a month and a range rover
THE BEEF
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I read that book.
There's a huge difference between someone who managed to collect a million dollar in assets over their lifetime as opposed to someone who is a real millionaire per se....the book focuses on the first element....a rather successful middle class average Joe who is also frugal and good at saving.
My advice if you want to become a "real" millionaire is to focus on other elements than frugality which that book promotes....entrepreneur ial spirit is what makes the real millionaires.
I agree.
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A "real millionaire" has a net worth of at least 7 figures, period. Whether he's a small business owner, farmer, hedge fund manager, or whatever.
An "entrepreneur" whose assets minus debts do not quite ad up to 7 figures is not a millionaire, even if he makes many millions a year and blows through it and basically lives paycheck to paycheck, like many athletes and entertainers here in the US do.
It's all about what you do with the money after you make it that determines whether you're wealthy or not.
I read that book.
There's a huge difference between someone who managed to collect a million dollar in assets over their lifetime as opposed to someone who is a real millionaire per se....the book focuses on the first element....a rather successful middle class average Joe who is also frugal and good at saving.
My advice if you want to become a "real" millionaire is to focus on other elements than frugality which that book promotes....entrepreneur ial spirit is what makes the real millionaires.
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I was broke as hell after HS during my college years, was barely making it. Did a little better during several years of military service. I have never forgotten what it feels like to be broke and living paycheck to paycheck, barely making it.
Started to figure things out by my mid 20's. Got my first "real" job at 25 in consumer lending, came into a low 6 fig windfall at about that time, learned over time how to invest by trial and error, reading everything I could, talking to people who knew how to invest, and mostly by just doing it.
Eventually started my own mortgage company in my early 30's, sold it after a couple of years for a nice little sum, then got into the field of investing money for other people, which makes me a very good living.
Came into another low 6-fig sum a little while later selling a few properties I had accumulated during a time when the local real estate market was red hot. Invested that also.
Came into a VERY nice sum of oil money a few years back that still trickles in nicely monthly - at least when oil is expensive enough for the oil company to bother with pulling out of the ground. I don't have to borrow anymore, hopefully not ever again. I invest all of this money also.
I still fear someday being broke again - I often have nightmares that I'm losing money or still in college working that little job that paid not a whole lot more than min wage.
I live a very comfortable life, but I do not squander much money. I just cannot do it. I prefer to pile it up.
I have a few wealthy friends who live like this. My neighbor is a huge investment guy and makes about half a million a year easily. He owns a house smaller than mine and drives a 2002 Honda Civic. However, he does have a few toys (boat, motorcycle, 4-wheeler). This guy doesn't even care about money, he has that much. I discuss money with him every now and then, he has some incredible ideas. The only time he has ever borrowed money is when he bought his house. Everything else he paid cash money.
This guy was selling wheels and tires out of the back of his truck in high school. He's always been good with business. Not a care in the world, just works and enjoys life. You would never know he was worth millions if you met him. In fact, most people have no idea he even has money.
Compare him to 95% of my other friends/family that live paychech to paycheck. A good friend of mine makes a decent living with no kids. The guy is broke as hell while making 150k a year. I've never understood how this is possible. He has like 3 cars and a 5 bedroom house all to himself. Always worried about money and stressed about his job. Fuck all that.
I found a happy medium. I have some cool stuff, but nothing crazy. Hoping to retire young.
Almost all American's that i know well are terrible with money. Why worry about saving money when you can finance and overpay? Lol
8)
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More than 50 cent's.
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A "real millionaire" has a net worth of at least 7 figures, period. Whether he's a small business owner, farmer, hedge fund manager, or whatever.
An "entrepreneur" whose assets minus debts do not quite ad up to 7 figures is not a millionaire, even if he makes many millions a year and blows through it and basically lives paycheck to paycheck, like many athletes and entertainers here in the US do.
It's all about what you do with the money after you make it that determines whether you're wealthy or not.
The book covers this. It says that statistically, for various reasons, a plumber in America is more likely to retire with a net worth of one million USD or more than a surgeon.
The book also says that most, not all, millionaires in America are business owners. However, not all business owners are millionaires and owning a business does not guarantee that you'll ever be a millionaire.
Other interesting statistics mentioned in the book are that most millionaires in America own their home, meaning they don't have mortgage. Also, most millionaires in America invest passively...because actively managed investments are too expensive and time consuming...time and money that they would rather put into other, more important matters.
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A "real millionaire" has a net worth of at least 7 figures, period. Whether he's a small business owner, farmer, hedge fund manager, or whatever.
No....the 7 figure is absolutely pointless, If you have amassed a million yet your earnings are average that million doesn't hold as much value.
I started out as a financial advisor, I came across a lot of asset rich cash poor individuals who lived in nice neighborhoods in big houses...but at their old age the income element was very low. I can tell they were struggling to make ends meet and if you have a pile of cash with low/no income at 70 you've no idea whtwher this will need to last you 6 yrs or another 25yrs.
The Millionaire Next Door preaches a formula which could easily lead many to the above scenario.
I wasn't talking in my example about Entrepreneurs riddled with debts...I'm saying stop earning and don't focus on saving and put your efforts instead into making money in tangible and sustainable amounts.
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I used to be skint
but a week and a half go I had a major spot of luck. a nigerian prince is sorting me out a few quid on a business deal. can't say too much but within two or three weeks I will have £8.333m in my bank. I don't want to gloat but who said death only brings misery eh?
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If you're worth 7 figures, you're a millionaire.
Of course you can be in a situation where you don't have much cash flow even though you've got a relatively high net worth. And being a millionaire ain't what it used to be, of course. It doesn't go as far as it did a generation or 2 ago.
I've been an advisor for 11 years. Most people simply spend too much money and live too high. Most people are a paycheck or 2 away from BK, no matter how much they're making.
By the time you retire, you should have all debt paid off and have a big enough nest egg that you only need to pull 4-5% or so a year out to live on. You need to have health insurance, at least several months of emergency savings, etc. If you're used to living on $400-500k a year, you'll likely need at least $10 mil liquid saved up.
To get to that point, you have to be disciplined. Most people are fucked in that regard. I could retire now and live a much more extravagant and wasteful lifestyle if I chose. But I enjoy what I do and am obsessive about it, and find wasting money to be dumb.
90% of all businesses fail, usually due to a lack of cash flow. It's very risky, nowhere near a guarantee. I have built my business with lots of hard work and a little good luck, but it didn't happen overnight. The get rich quick fantasy is just that for just about everyone.
I know guys who sold their businesses for 8-9 figures after decades of building them with lots of hard work, often paying themselves a relatively modest living along the way. A buddy of mine is the sole heir to a 4th generation oil company worth just under a billion that has taken nearly 100 years to get where it is.
The guy who starts a software company or record company out of his basement with $10k and sells it a year or 2 later for 9 figures or more is a very small percentage of the population. Most of us have to work many years to build most or all of our wealth, and many people must do it by working for someone else - which is not necessarily a bad thing if you're high enough up on someone else's totem pole to be making at least a good living or hopefully big bucks.
A guy who retires from a chemical plant who may have never made much more than $150k a year, who has no debt, doesn't try to live like the Sultan of Brunei, and has $3 mil in retirement savings he's wanting to roll over to me is every bit the multi-millionaire that the rapper is who earned $200 mil but blew just about everything and is down to his last $3 mil. And I'd rather have the first guy as a client, because he's going to listen to me and not waste my time and blow that nestegg like the rapper will. I'll still be making money off the first guy after several years, and he'll be even richer, while the rapper will have gone through that last 3 mil.
No....the 7 figure is absolutely pointless, If you have amassed a million yet your earnings are average that million doesn't hold as much value.
I started out as a financial advisor, I came across a lot of asset rich cash poor individuals who lived in nice neighborhoods in big houses...but at their old age the income element was very low. I can tell they were struggling to make ends meet and if you have a pile of cash with low/no income at 70 you've no idea whtwher this will need to last you 6 yrs or another 25yrs.
The Millionaire Next Door preaches a formula which could easily lead many to the above scenario.
I wasn't talking in my example about Entrepreneurs riddled with debts...I'm saying stop earning and don't focus on saving and put your efforts instead into making money in tangible and sustainable amounts.
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Yeah, I read that one, "The Millionaire Mind", and at least one or 2 others in that series.
They were among the best books I ever read, and really taught me a great deal about personal finance.
I do have a more active investment style, but that's mainly because that is my actual profession.
Such books are clearly over the heads of most getbiggers, who think you're "rich" if you have little or no net worth, but can manage to lease a 3-series Bimmer or Hummer and put $10k of jewelry on a credit card at Christmas time.
The book covers this. It says that statistically, for various reasons, a plumber in America is more likely to retire with a net worth of one million USD or more than a surgeon.
The book also says that most, not all, millionaires in America are business owners. However, not all business owners are millionaires and owning a business does not guarantee that you'll ever be a millionaire.
Other interesting statistics mentioned in the book are that most millionaires in American own their home, meaning they don't have mortgage. Also, most millionaires in America invest passively...because actively managed investments are too expensive and time consuming...time and money that they would rather put into other, more important matters.
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Millionaire next door was good. So was rich dad poor dad.
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Who cares about any of your stories. You will just all die anyways and your plastic toys will be sold off or end up in a landfill and nobody will care. :D
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Millionaire next door was good. So was rich dad poor dad.
Millionaires don't need to read a shitty book to learn how to make money.
Not that it matters anyways. A man's worth should be measured in character anyways, not money.