Living the dream

Tyler6357

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Joined
Sep 28, 2011
Messages
1,108
Hey MB brothers! This is a bit off topic but I thought someone here might get something out of this. I've been following this blog website for a few years that helps people build their net wealth and I thought I would pass the link on. It's a great website that has some excellent advice for interesting investments as well as ways to save money and strategies to get rich even if you are just starting out or recovering from divorcerape. This is not an advertisement, it's nothing you have to buy. Build your wealth brothers! If you want to self actualize, get rich, and live the dream, I recommend to always (1) take the red pill and (2) check out Mr Money Mustache----> https://www.mrmoneymustache.com/2013/02/22/getting-rich-from-zero-to-hero-in-one-blog-post/

stashcash-300x199.jpg
 
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bike4life

Active Member
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Mar 19, 2018
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786
red pill as in MGTOW?
https://www.mgtow.com/

I like Robert Kiosaki's book, Rich Dad Poor Dad. I also think stock investing and technical analysis and knowledge about options/ futures trading helps too.
Valuetainment is a good entrepreneurial channel for general knowledge. Investopedia works well for technical finance skills.
 

Tyler6357

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Joined
Sep 28, 2011
Messages
1,108
17 differences between rich and poor
  1. Rich people believe “I create my life.” Poor people believe “Life happens to me.”
  2. Rich people play the money game to win. Poor people play the money game to not lose.
  3. Rich people are committed to being rich. Poor people want to be rich.
  4. Rich people think big. Poor people think small.
  5. Rich people focus on opportunities. Poor people focus on obstacles.
  6. Rich people admire other rich and successful people. Poor people resent rich and successful people.
  7. Rich people associate with positive, successful people. Poor people associate with negative or unsuccessful people.
  8. Rich people are willing to promote themselves and their value. Poor people think negatively about selling and promotion.
  9. Rich people are bigger than their problems. Poor people are smaller than their problems.
  10. Rich people are excellent receivers. Poor people are poor receivers.
  11. Rich people choose to get paid based on results. Poor people choose to get paid based on time.
  12. Rich people think “both.” Poor people think “either/or.”
  13. Rich people focus on their net worth. Poor people focus on their working income.
  14. Rich people manage their money well. Poor people mismanage their money well.
  15. Rich people have their money work hard for them. Poor people work hard for their money.
  16. Rich people act in spite of fear. Poor people let fear stop them.
  17. Rich people constantly learn and grow. Poor people think they already know.
 

darwin

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Joined
May 26, 2008
Messages
3,812
A lot of assumptions and generalities in the above post that don't fit most folks. I believe you reap what you sow. There's a lot of rich people who have good hearts and are good people. Then there's the slavers who don't care about people and pay slave wages in order to make their money. Same goes for the freebie class who are able bodied, the poor and the middle class, you can't lump everyone into any certain category. I just know this, life is easier if you don't have to worry about paying your bills.
 

Tyler6357

Well-Known Member
Joined
Sep 28, 2011
Messages
1,108
A lot of assumptions and generalities in the above post that don't fit most folks. I believe you reap what you sow. There's a lot of rich people who have good hearts and are good people. Then there's the slavers who don't care about people and pay slave wages in order to make their money. Same goes for the freebie class who are able bodied, the poor and the middle class, you can't lump everyone into any certain category. I just know this, life is easier if you don't have to worry about paying your bills.
Nothing is true for everybody. I didn't write the list but it has some truths in it, particularly #11, #13 and #15
 

Tyler6357

Well-Known Member
Joined
Sep 28, 2011
Messages
1,108
red pill as in MGTOW?
https://www.mgtow.com/

I like Robert Kiosaki's book, Rich Dad Poor Dad. I also think stock investing and technical analysis and knowledge about options/ futures trading helps too.
Valuetainment is a good entrepreneurial channel for general knowledge. Investopedia works well for technical finance skills.
I didn't mean MGTOW particularly, I meant it in the sense of being in control of your own destiny and not letting p**sy mess up your finances. :)
Options are kinda risky but can have high return on investment. They recommend safer but lower return investments like stock index funds. The market has been killing it lately.
 
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RB55

Active Member
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Sep 18, 2019
Messages
168
The best way to invest/manage finances where you are guaranteed to earn tons of money from a modest amount (unless we have a nuclear apocalypse of something of the sort) is TIME. All short-term trading is based on "high risk, high reward". We all want to make money fast, that's the fact of the matter. No one wants to postpone gratification. Thus, we only buy stocks for the short-term based upon the hottest trends for that "cash flow". The issue is after a certain point the risk far exceeds the reward, the market crashes, and we all panic and sell ASAP. You're money is gone forever! Then we wait the the next trend and buy more for the same result.

According to economics, the one constant in an economy is long-term growth. In the capitalist system, the economy always has depressions/recessions and booms, but grows in the long term. Keep in mind the Dow Jones originally started out at 40 points or so in the 1800s. Remember when the stock market went down about 20% a few months back? Now we are at 28K, even higher than we were before! The issue is that everyone is going to buy stocks NOW when they are HIGH and, sooner or later, the market's going to dip/enter recession again. That's inevitable. Then we all panic and sell because we don't get that short-term gratification. Again, your money literally disappears.

The solution to this is to buy a good mutual fund (never buy single stocks), compound the interest, and HOLD!!! Don't take that money out. Put it in and forget about it. You will be incredibly rich in 20-30 years, just postpone that gratification! According to this compound interest calculator (https://www.investor.gov/additional-resources/free-financial-planning-tools/compound-interest-calculator), if you invested $20K today, added $1K a month, and got an average of 10% interest per year (reasonable for good mutual funds), you would have about $2,322,916 in 30 years! This is all based upon exponential growth in mathematics, not economics.

Lesson - invest with compound interest and hold!
 

darwin

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Joined
May 26, 2008
Messages
3,812
An average of 10% a year? Why is it that the big money is settling on 3.5% investing in mortgages. 10% is a pipe dream nowadays. It can be done but takes knowledge of the investment and a good inside track on the future of that investment. Say realestate where you know in a few years is going to explode in value due to certain circumstances. Knowledge of a company where a major break through in R&D takes place. Starting a successful company. To the average Joe 10% isn't possible nowadays. Stock market is gambling, for every winner there must be a loser to cover the winner. Don't know stocks that well but I've heard that my whole life.
 
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