Posted on 10/17/2016 11:11:46 AM PDT by 2ndDivisionVet
I talk a lot about the global investment markets. I’m focused on making profits, and often I’m looking to make multiples, knowing full well that some opportunities won't work out. I’ll get timing wrong or I’ll miss something entirely and need to hedge, reposition, or exit entirely. That’s life.
But I haven’t spent much time on stating the obvious (because I figured it’s obvious) so today's post is going to do just that.
We are going to forget all about economics, financial markets, central banks, derivatives, GDP, and all that stuff, and we're going to go all the way back to some basics. Basics which purple-haired grandmothers everywhere would approve of as they make that second cup of tea from the same teabag.
How to Get Rich… Easily
You’ll see headlines like the above one all over the place and they’re all bull****.
They come neatly packaged with some shiny toothed douchebag standing in front of a rented lear jet or some gratuitous ostentatious far-too-big house while standing next to Mr. Douche is some bimbo with far too large breasts who appears to be only just managing to contain the collagen which infests her lips from exploding over the screen. They simply scream, “Look at me, I’m an @$$hole!”
Life is nothing like that.
I am writing this because I receive emails from people of all ages looking for advice. From middle-aged guys and gals asking, "What do I do now to get secure?" Secure… not rich, just secure. Why? Because they’ve been making the wrong decisions for at least 2 decades and they’re realizing time is running out and the current path of mediocrity isn’t likely to make them rich, let alone secure. That’s a big problem, which I’m not even going to try tackle here....
(Excerpt) Read more at zerohedge.com ...
Buy low, sell high.
the American way !!! At least for some.
But not:
But low, Sell drunk
Live below your means, invest the rest.
It works.
Dave Ramsey is right.
Gomez Addams, of the old Addams Family TV show described his formula. Get something that costs a dime to make, sells for a dollar, and is habit forming.
spend less than you earn
Miss Informed Oct 17, 2016 1:03 AM
The best way to end up with a small fortune is to start with a large one.
Get elected as a US Senator.
The Easy, Uncomplicated Way To Get Rich....
A: Get elected (or the ‘on the inside’). Then get fat off the public Treasury....’legally’.
Oh, sure, you can work hard, deny yourself immediate gratification, save money, all that sort of stuff. And then when you're ready to retire you have a clear conscience and the warm glow of a job well done. Or you can rip off everyone around you, betray, cheat, belittle, and drown out their cries of protest, bribe or blackmail anyone who might get in your way, and run for President. I don't say that as a good thing, it's just been shown to work.
Get a job in government.
I worked at the unemployment office for 15 years. Nope, that doesn’t work.
Good article. What my wife and I have basically done the last 20 years and now:
- no debt, house, cars, etc all paid off more than 5 years ago.
- operate off a bare basics of ~35k
- max 401k matches and all other free income streams from companies I work at
- The kid thing is correct as I have 2 in college right now and outside of that short term expense we...
- have at least 5 years of bare necessities covered which is important because:
I lost my job in August.
My question is not how to get another job....I can do that because of the industry and area I work in.
My question is how do you find the LONG TERM OPTIONS he is talking about. The startup that pays the base, you work hard at, and then get an opportunity to cash out on. I know I can help those types with my experience, but am having trouble finding the appropriate contacts. I do worry about potentially having to take a step back (which will end most future promotion opportunities given my age). Advice? Should I do the step back for the income stream or push for at least the same level to be maintained?
2nd thing I’m considering is using an ERISA to leverage my 401k to buy a business (which outside of contributions and matches hasn’t really grown in the last run up, because I basically (ok it was stupidly) kept everything in cash on the sideline the last few years...I just didn’t trust the numbers).
Thoughts?
Easy way #2: hire an ‘unemployed’ American and pay them cash, saving your business the insane cost of paperwork to hire us the ‘regular’ way. And we’ll be the last people who would consider snitching.
How to get rich? Hmmm...start a charitable trust, like the Clintons...
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