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Doctor Party posted:4) You can not simply enter medical school "with any degree". You have to take the minimal requirements for whatever medical school you are applying. These are often a typical 2 year set of pre-med courses like physics, biology, chemistry etc, some schools require calculus and biochem and other random classes. So while you can major in philosophy you certainly need almost 2 years of the classes you'd think a medical student would need. This isn't true of all medical schools by any means. Maybe it's an American thing? My alma mater's medical school (Canadian, well-regarded) has no requirements about courses and about 10-20%, depending on the year, of their undergraduate medical students come from social science disciplines including philosophy, theology, literature, etc. If you can get a degree in music performance and learn enough of the required core subjects to do well on the MCAT, you can certainly get into medical school. You need to have a good enough grounding in the subject matter to perform well on the test and also to keep up once you get to medical school, but it certainly seems that there are people who can do it. I didn't study medicine there, but I did teach medical students there at one point, and honestly I found the ones whose undergraduate work was in the humanities rather than the hard sciences were more teachable. Nothing against the pre-med gunners who made their dreams come true, but often they couldn't answer questions that required lateral thinking or critical enquiry. Mind you, by the time I got them they were in second year (I taught clinical skills in the obstetrics bootcamp right before their OB/GYN clinical block) so maybe the theologians were scrambling all of first year to keep up in a way that was invisible to me. So I guess the moral of the story is that if you have a humanities degree and want to be a doctor you should go to school in Canada? I think your other points are spot-on, though, for the most part. Medicine is not the approach you want if your goal is to get a good ROI on the time and energy you invest. You can eventually make good money, but you will always work really hard for it, which I'm guessing is not the approach that someone posting a "Tell me about becoming wealthy" thread is hoping to take.
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Dec 6, 2016 06:20
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LOL at a bunch of people talking about things like "nursing" or "$250K" as "wealthy".
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Dec 6, 2016 07:47
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250k a year is wealthy. You can still piss it all up a wall, but even then some should stick in a crack somewhere and turn into more money. 250k, period, isn't a lot of money on it's own. Someone that has a real job and pulls down legit 250k a year is making bank. Not a salesperson with a commission based bonus to that amount or small business person that signed someone 'big' to them, someone that every two weeks gets a paycheck with them all adding up 250k each year and doing that year in and year out. Traders can scoff along with so many others but I did say 'real' job 
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Dec 6, 2016 08:00
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The Unholy Ghost posted:A...few million dollars? Most jobs I can think of for an undergrad would provide under $100,000 a year, so a max of $1 million assuming I do something like brain surgeon. Are you referring to an investment of some kind? When I said work for a while and put away a few million, I meant you need to work for like 20-25 years. Then, when you're in your mid-40's use the savings you've built up to take a major risk(i.e. start a company) and hope if pays off. People don't become truly wealthy in their 20's and 30's unless they come from money or there are truly extraordinary circumstances.
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Dec 6, 2016 19:22
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Dogfish posted:I think your other points are spot-on, though, for the most part. Medicine is not the approach you want if your goal is to get a good ROI on the time and energy you invest. You can eventually make good money, but you will always work really hard for it, which I'm guessing is not the approach that someone posting a "Tell me about becoming wealthy" thread is hoping to take. What about dentists? They seem to make decent money and don't work particularly hard.
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Dec 6, 2016 19:28
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I don't know; you'd have to ask a dentist.
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Dec 6, 2016 19:45
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Tony Montana posted:250k a year is wealthy. You can still piss it all up a wall, but even then some should stick in a crack somewhere and turn into more money. 250k, period, isn't a lot of money on it's own. Not really. After taxes that's like $125k, and then if you're in moat places where people make that much money, you're probably spending another $30k on rent. Before any other expensive that leaves you with like $95k/yr, which is way more than anyone else makes but not enough to retire on, so you still need to earn a paycheck, and I'd say you're not wealthy if you need to earn a paycheck to maintain a modest lifestyle.
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Dec 6, 2016 19:54
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The title of the thread is misleading. If you read the OP's post, their bar seems a lot lower: how do you turn a degree into a good job that doesn't consume your life? Also, something about doing better than your parents, which I guess, really depends on how well your parents have done. And loving LOL if you think having $95k of fun money after taxes and posh rent is paid is a "modest" living. You're talking about the top 3% of Americans there.
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Dec 6, 2016 20:07
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Imaduck posted:And loving LOL if you think having $95k of fun money after taxes and posh rent is paid is a "modest" living. No, I think if you need to work to keep a modest living then you're not wealthy. Having $95k in the bank is not enough for you to keep a modest living. You still have to keep the paychecks coming in or you become homeless. If you can live off your savings indefinitely, I'd consider you wealthy. If you have to get a job, you're not. oliveoil fucked around with this message at 20:42 on Dec 6, 2016 |
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Dec 6, 2016 20:39
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oliveoil posted:Not really. After taxes that's like $125k, and then if you're in moat places where people make that much money, you're probably spending another $30k on rent. Before any other expensive that leaves you with like $95k/yr, which is way more than anyone else makes but not enough to retire on, so you still need to earn a paycheck, and I'd say you're not wealthy if you need to earn a paycheck to maintain a modest lifestyle. Its just semantics at this point, having 95k left over every year doesn't make you instantly wealthy, but you're on the road to wealth and it wouldn't take that long to accumulate a nice chunk of money that would allow you financial freedom. I don't think the OP is expecting to become wealthy in a single year.
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Dec 6, 2016 20:41
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If you make more than a dollar a day you're already in the top 1% of all humanity. Really makes you think. About dicks.
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Dec 6, 2016 20:58
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oliveoil posted:No, I think if you need to work to keep a modest living then you're not wealthy. Having $95k in the bank is not enough for you to keep a modest living. You still have to keep the paychecks coming in or you become homeless. This is ridiculous. Do you mind me asking how much you earn? I can tell you now I earn 150k a year, that's 100 less than 250, I drive a BMW, live in Camberwell in Melbourne and have every toy you could think of and probably quite a few more you don't know about yet. I always pay for dinner/drinks with my girlfriend, it just seems crass any other way. I am wealthy. Someone paying out a huge mortgage can claim they are sitting on a huge asset I am not, but my earning potential now and for the next 30 years means I can funnel money into whatever (it's index funds now, but property in Australia is stupid and I really need to get into it and make the money every other chump is making) and always be wealthy. Also, I never do my own tax, I pay an accountant that comes up with all sorts of ways to minimize tax, from salary sacrifice purchases to careful asset allocation. So you don't just take the default tax rate and do the math, the real world is more complicated (and awesome) than that.
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Dec 6, 2016 23:38
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Doctor Party posted:As with most things it isn't quite that simple: Just want to chime in and say that I agree with Doctor Party. Becoming a physician was a very long road and is not the path of least resistance to riches, especially if you have crushing student loan debt. Almost 5 years out after finishing my fellowship and despite working more hours than the average person, I can say I enjoy my job. That said, if you didn't enjoy practicing medicine, the additional headaches would totally not be worth the money to you. For content: First, pay off your debts if you have them. Then avoid getting back into debt. Live on less than you make and invest the rest in index funds when you are young. Compounding interest is a powerful force that favors the young. Spend some time reading BFC as there is some excellent content in there. Wish I could go back in time and have started a Roth IRA when I was 21 
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Dec 7, 2016 00:18
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McPhock posted:Start here: I would recommend skipping the part where you go around bragging about how much cooler you are than anyone even slightly less frugal than you. Especially if it means dismissing dog ownership as a frivolous luxury (never mind that interacting with animals has been scientifically proven to be good for one's physical and mental well-being) while you have a kid. The basic idea of rejecting wanton consumerism is great and all, but I doubt anyone starting a thread titled "Tell me about becoming wealthy" would have much interest in a lifestyle which involves rejecting any leisure activity that isn't dirt cheap.
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Dec 7, 2016 03:38
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The first part of getting rich is not wanting money, but security. The second part of getting rich is not spending your money. e: Look into resource extraction (mining, fracking, etc). It is where the money is and will always be, even if it's not Oil, mankind will find something to dig up and sell to each other. weak wrists big dick fucked around with this message at 03:51 on Dec 7, 2016 |
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Dec 7, 2016 03:44
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Cockmaster posted:I would recommend skipping the part where you go around bragging about how much cooler you are than anyone even slightly less frugal than you. Especially if it means dismissing dog ownership as a frivolous luxury (never mind that interacting with animals has been scientifically proven to be good for one's physical and mental well-being) while you have a kid. I had a father who practiced it religiously. We always had a poo poo TV with a poo poo picture and the furniture was always worn and old and everything didn't work or was empty. Why was he such a scrooge? He never made real money, money was a sacred thing that you came upon on rare occasions which you squirreled away and never spent a cent of because.. I dunno.. maybe there isn't more coming? I don't know and I certainly don't care, nothing makes your son strive to achieve so he can ignore your advice like the idea of having to live like that. I didn't spend my 20s eating noodles and not going to the movies so I can.. not work and have even more time to continue a lovely life of eating noodles and not going to the movies?
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Dec 7, 2016 04:05
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Money exists to get you what you want. If what you want more than anything is never to work for pay again, then a lifetime of giving up most luxury, front-loaded with a decade or so of extreme frugality, makes sense. If what you want is to live a comfortable lifestyle with many small luxuries or a few large ones, and continuing to work seems to you like a reasonable tradeoff, Mr Money Mustache's approach is not going to be helpful to you. I'm debt-free and make six figures, so it wouldn't be out of the realm of possibility to retire after 10 years of crazy frugality, but I'd rather not. Life with a dog and a car and takeout sometimes and as many babies as I want seems more fun to me than financial independence without all those things, but then, I like my job. What can I say, I'm hopelessly middle-class. Dogfish fucked around with this message at 04:24 on Dec 7, 2016 |
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Dec 7, 2016 04:22
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How does someone in their 20s make the choice that the worst thing in life would be to work for pay? How do they know? What do they know of what they are they are giving up, they haven't experienced much of life yet! Travel to Europe on a budget, it's miserable. You can got to Thailand or Vietnam and spend a few dollars a day and live like a king, until you grow up a bit and as many cheap cocktails as I can drink each day doesn't equate to how I think a king lives anymore. But Europe and really doing it, rent a cool car and go to the awesome spots and ski in the ski fields and eat in the restaurants and buy the fashion.. this all requires money, real disposable money not a carefully budgeted 10k between two people for a month. Most sport, but particularly the sport I like (motorsport), requires money and with lots of it you can do all sorts of fun and cool things in that space. It just goes on like this. Some coder and his girlfriend eat cereal for 10 years so they can.. what exactly? Retire on a farm? I guess.. that's pretty cool.. but you gotta buy the farm and keep paying the upkeep. So, you don't work. That doesn't really impress me. Can I go and talk to the person that has an exciting life and experiences now? edit: there is a thread on here about a guy and his girl that sail around and just post blog posts about it and they don't work. Their blog posts and their Internet efforts earn enough to buy their next boat. Surely that's the go, isn't it? I don't want to live like them, when I was younger I'd look at his young girlfriend and her bronze skin and think that sounds pretty cool.. but I don't think so much anymore. I can sail when I feel like it and it's not my house, it's not my whole 'thing' in life. I guess wealthy people don't have to COMMIT like others do, it can just be a hobby when you feel like it. Tony Montana fucked around with this message at 04:42 on Dec 7, 2016 |
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Dec 7, 2016 04:40
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This is how my folks became wealthy: My Dad is an Air Force vet so he gets his monthly retirement pay. He has spent the last probably 30 years using that as a house payment or sacking it away when he can. He went to school and got an Engineering Degree, my Mom went to school and got an education degree. My Mom went back to school for her Masters and finally her Docterate in Education and has a pretty decent 6 figure income. My Mom especially has always leaned on my Dad to put more money in 401k, Savings account, Roth IRAs, stock market, wherever you can invest money my folks have. My Dad has been retired for about 8 years now so their home is a single income house but it doesn't really matter because they've been preparing for this for years now. This is how my sister became wealthy: My twin Sister is the more scholarly one between us. She initially went to school (which my parents covered her tuition) for a Math degree but quickly changed to Engineering. She graduated and then spent 10 years doing that along with getting her Professional Engineering license. Her Husband (who she met in Engineering school followed a similar path). About 2 years after getting her PE she went back to school and got a Law Degree and is now a Construction Attorney for a major engineering company and makes just as much if not more than my Mom does. How I live a life a mediocrity: I'm a failson that hates school so I just float by on whatever job I can find SalTheBard fucked around with this message at 04:04 on Dec 16, 2016 |
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Dec 7, 2016 05:00
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Tony Montana posted:So, you don't work. That doesn't really impress me. Can I go and talk to the person that has an exciting life and experiences now? The boat people probably have a lot more interesting experiences to share than some finance bro who only stays at 5-star resorts. Some people just don't care about expensive things and would rather take a permanent vacation or live a normal middle-class lifestyle on investment interest instead of getting caught up in the neverending quest for more money and fancier stuff. Warren Buffett posted:Some material things make my life more enjoyable; many, however, would not. I like having an expensive private plane, but owning a half-dozen homes would be a burden. Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.
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Dec 7, 2016 05:57
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Yep, that's fine. Just keep what I've said in mind if someone starts lecturing you in BFC. Each to their own is a fine argument when someone isn't trying to ram something down your throat. edit: This is all so broad. What are you studying OP? How are your marks? Let us map out some possible next few years for you Tony Montana fucked around with this message at 07:21 on Dec 7, 2016 |
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Dec 7, 2016 07:12
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Tony Montana posted:This is ridiculous. Do you mind me asking how much you earn? God this combined with the post about your ultra-frugal dad explains so much about who you are and why you are such a loving defender of the status quo and ready to yell at people for being "slackers."
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Dec 7, 2016 18:08
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Basebf555 posted:When I said work for a while and put away a few million, I meant you need to work for like 20-25 years. Then, when you're in your mid-40's use the savings you've built up to take a major risk(i.e. start a company) and hope if pays off. You can certainly start a business in your 20's and 30's. It's probably easier for some fields as you can eat ramen and work 18 hour days much easier when you are young, plus you probably don't have kids in your 20's which makes taking risks easier. Waiting until your 40's to start being an entrepreneur is probably starting a bit late. Better to lose your life savings of $1,000 failing at 23 than your home, wife, and kids failing at 45.
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Dec 7, 2016 19:58
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BarbarianElephant posted:You can certainly start a business in your 20's and 30's. It's probably easier for some fields as you can eat ramen and work 18 hour days much easier when you are young, plus you probably don't have kids in your 20's which makes taking risks easier. Waiting until your 40's to start being an entrepreneur is probably starting a bit late. Better to lose your life savings of $1,000 failing at 23 than your home, wife, and kids failing at 45. Never really understood why bankers and other office dwellers get married or have children. Considering you spend 16 hours a day at the office, and are probably too buggered to do anything else when you aren't there, it seems that you'll never have time for a family; and I've heard many a tale about multiple divorces and estranged children from our yuppies.
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Dec 8, 2016 00:31
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Tony Montana posted:How does someone in their 20s make the choice that the worst thing in life would be to work for pay? How do they know? What do they know of what they are they are giving up, they haven't experienced much of life yet! Travel to Europe on a budget, it's miserable. You can got to Thailand or Vietnam and spend a few dollars a day and live like a king, until you grow up a bit and as many cheap cocktails as I can drink each day doesn't equate to how I think a king lives anymore. Dogfish posted:Money exists to get you what you want. If what you want more than anything is never to work for pay again, then a lifetime of giving up most luxury, front-loaded with a decade or so of extreme frugality, makes sense. If what you want is to live a comfortable lifestyle with many small luxuries or a few large ones, and continuing to work seems to you like a reasonable tradeoff, Mr Money Mustache's approach is not going to be helpful to you. How does someone in their 20s know that they don't want to work for pay? How do they know they want to be a doctor, or marry someone, or have kids? There's no way to be sure that the decisions you make at 25 are the decisions that the self you'll be at 45 will have wanted you to make, but there's no remedy for that. It sounds like you don't find the experiences associated with extreme frugality meaningful or appealing. My suggestion to you would therefore be not to practice extreme frugality. People are different, and different people want and like different things. You don't have to personally approve the lifestyle choices of everyone on the planet.
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Dec 8, 2016 01:36
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WampaLord posted:God this combined with the post about your ultra-frugal dad explains so much about who you are and why you are such a loving defender of the status quo and ready to yell at people for being "slackers." So there you go, OP. One way to be successful and make money is to come from a background that doesn't appreciate or have these things so you don' take them for granted when you are in control. Sic Semper Goon posted:Never really understood why bankers and other office dwellers get married or have children. Is this like the guy that said '250k a year isn't actually wealthy'? Are you a real person? Do you work? Do you have life experience beyond these forums? Nobody spends 16 hours a day in the office, in fact we spend more time at home than the travelling salesmen and reps and other jobs where you're paid for how much talking you do as opposed to what is in your head. It's 9-5 and even less than that, every weekend is free, every Friday night. I don't have a 'home office' beyond a space where I can work from home once a week, it's certainly not a place I sit in stressing about if we can sell enough widgets next month to make our rent. Dogfish posted:How does someone in their 20s know that they don't want to work for pay? How do they know they want to be a doctor, or marry someone, or have kids? There's no way to be sure that the decisions you make at 25 are the decisions that the self you'll be at 45 will have wanted you to make, but there's no remedy for that. It sounds like you don't find the experiences associated with extreme frugality meaningful or appealing. My suggestion to you would therefore be not to practice extreme frugality. People are different, and different people want and like different things. You don't have to personally approve the lifestyle choices of everyone on the planet. Yes, very good. Different people are different. I am glad you are here to explain that. Do you understand you are undermining your own argument? How can you commit to something with such a huge opportunity cost as frugality to the point of missing out on life as someone in their 20s because of the future promise of.. what? I don't see the experiences associated with extreme frugality as necessary. I think it's just a plan some people have come up with, but it doesn't apply to me or my life.
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Dec 8, 2016 02:06
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Tony Montana posted:Yes, very good. Different people are different. I am glad you are here to explain that. Do you understand you are undermining your own argument? How can you commit to something with such a huge opportunity cost as frugality to the point of missing out on life as someone in their 20s because of the future promise of.. what? I don't see the experiences associated with extreme frugality as necessary. I think it's just a plan some people have come up with, but it doesn't apply to me or my life. Sure, that sounds reasonable. So why are you so mad about it? While in my 20s, I committed to a professional career, got married, and created a human life. Those are all huge commitments, and they all come with opportunity costs (the tiny human, especially). Just like when I took out a large loan to complete my professional training, I accepted that my full professional salary wouldn't be mine to spend for the first couple years I was in practice, because I'd have to pay back those loans. I chose to pay back those loans quickly for a variety of reasons, but I could also have chosen to pay the minimum payment for 15 years and have the opportunity to eat more takeout and take more vacations during those 15 years. That just wan't the choice that matched up well with my goals and personality. Doesn't mean I was right, doesn't mean someone who chose to eat Indian food and go to Vegas for 15 years was wrong. Just people tailoring their lifestyles to their personalities. It doesn't have to be a moral question, or a question of right and wrong, which is the part you seem to be having some trouble with. "Missing out of life," to you, means missing out on the opportunity to enjoy spending money. But that only works if you DO enjoy spending money. I live on about 30% of my six-figure income, not because I'm depriving myself of anything, but because after I've bought all the things I want, I've spent about 30% of my income. Some people just want fewer things, and some people enjoy having unconstrained time and a sense of independence way, way more than they enjoy the other stuff that money can buy. If you love lavish trips and fancy cars, there's nothing wrong with that, and I'm happy that you get to enjoy them! But that's not the only, the best, or the correct way to live for everyone.
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Dec 8, 2016 02:53
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I'm not mad. It's more the frugality idea as being floated as the 'smart' way or the 'people with their poo poo together'. You know what I'm talking about, if you've read much of BFC you'd know exactly what I'm talking about. That's all. I'm just saying don't take the goon hivemind for gospel because away from this website much of it gets questionable. It also totally depends on where you are. An American with a solid plan for retirement and living that plan is being 'responsible' moreso than an Australian. We plan for retirement too, but we don't have to consider health costs or insurance costs or many other things as carefully, because we live in a society that is focused less on the individual. So yeah, read BFC and putting money aside is never dumb, but also take it with a bit of salt and remember the other posters probably live somewhere totally different to you.
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Dec 8, 2016 03:20
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BarbarianElephant posted:You can certainly start a business in your 20's and 30's. It's probably easier for some fields as you can eat ramen and work 18 hour days much easier when you are young, plus you probably don't have kids in your 20's which makes taking risks easier. Waiting until your 40's to start being an entrepreneur is probably starting a bit late. Better to lose your life savings of $1,000 failing at 23 than your home, wife, and kids failing at 45. Unless you can convince someone to invest in you, it takes substantial savings to start a business - you won't be cash flow positive for a while. And believe it or not, there is value in experience. Popular notions aside, most people starting businesses, even tech startups, are in their 40s or older.
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Dec 8, 2016 08:30
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Becoming wealthy is all about exploitation and/or luck. Anyone sitting here trying to tell you that "working hard" will get you anywhere NEAR what it means to be actually wealthy is utterly full of poo poo. Having 1 to 10 million in net assets is not wealthy. You're comfortable, but you're not wealthy. If you don't have 100 million in the bank then you aren't wealthy. The truly wealthy never operate with their own money. They exploit government programs or use other investors money to fund their projects while using carefully written contracts to protect their own capital from loss. Like using HUD money to build for-profit nursing homes. Using the tax code to hide 95% of your earnings from the tax man etc. If you receive a W2 you're doing it all wrong.
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Dec 8, 2016 15:15
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Tony Montana posted:I'm not mad. It's more the frugality idea as being floated as the 'smart' way or the 'people with their poo poo together'. You know what I'm talking about, if you've read much of BFC you'd know exactly what I'm talking about. I read and post in BFC frequently - including the FI thread because I enjoy marvelling at the extremes of human behaviour. I believe that what you intended to communicate was "Don't worry, you don't have to drink the FIRE Kool-Aid to be wealthy and/or live a good life," and I think you're right. I also don't think that's what you actually communicated, and you certainly communicated an awful lot of emotional intensity around the topic. That's what I, and I suspect also the other posters who responded negatively to you, were reacting to. That's all. (I also think some of your "people in their 20s are babies who can't make decisions" stuff was weird, but you know what, I'm not here to tell you how to understand the world.) I agree that financial planning should depend on the financial climate in which one finds oneself, and where one lives is a part of that. That seems very sensible to me. Also, as a general aside, I find the number of people arguing that wealth and current gainful employment are always mutually exclusive really interesting and tracks in a really interesting way with shifting understandings of what it means to be "middle class." To the people who think if you work you're not wealthy: can you expand more on why you think that? Dogfish fucked around with this message at 16:31 on Dec 8, 2016 |
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Dec 8, 2016 16:28
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The Unholy Ghost posted:Context: I'm a middle-class dude, 21, about a year away from finishing an undergraduate in a field I'm not entirely interested in. At this point I'm basically planning to work for a few years, save up money, then go back to school for another degree. (This is just me— other people with other situations can feel free to ask the same.) Buckle down, figure out something you can do with the degree you spent 4 years getting, then go do that. True wealth, I agree with everyone else, start a business and pour 80 hours a week into it.
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Dec 8, 2016 17:24
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Dogfish posted:To the people who think if you work you're not wealthy: can you expand more on why you think that? When I think of wealth, I think of the definition you get when you google that word, which is basically "an abundance of valuable possessions or money". Working doesn't have anything to do with being wealthy or not - if you're wealthy, you can still work. What matters is whether you HAVE to work. If you don't have enough money to stop working then you don't really have an abundance of money. Maybe you have a job that pays a lot and will let you get an abundance eventually - but having a path to get something is not the same as already having that thing.
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Dec 8, 2016 19:02
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Dogfish posted:I read and post in BFC frequently - including the FI thread because I enjoy marvelling at the extremes of human behaviour. I come from a different culture to you. I also just have SA open on my work computer and bash into it when I have a few moments, my posts aren't well considered and balanced reports on my perspectives, I'm just talking conversationally. There is some more advice for the OP, focus in on the content, what people are actually saying to you rather than who is saying it and how. "people in their 20s are babies who can't make decisions" - come on man, don't strawman me so obviously. I said people in the 20s who think theyve got it all worked out and like to tell others about how smart they are and foolish you are, are actually barely adults and are complete rookies at the whole life thing. They don't actually know poo poo and what they do know someone else told them. But that's all just bullshit really, the point is we agree and you don't have to eat cereal through your 20s to be 'successful'. In fact, you can eat steak and drive a sportscar and be just fine. PromethiumX posted:Becoming wealthy is all about exploitation and/or luck. Anyone sitting here trying to tell you that "working hard" will get you anywhere NEAR what it means to be actually wealthy is utterly full of poo poo. See, I think that's really sad. Are you American? If you are, I kinda get it, I guess. America - Where a 10 million dollar net worth means you're not wealthy. I just can't believe you. Can you give me some background to you and why you think this? I don't want to cut you down and brag that youre a scrub or something, I'd just like to understand what kind of person goes through life honestly believing they don't have control of their future. Or is it that you've read Buffets autobiography and some other traders or something and unless you've got a 100 million dollar trading account you throw around like lunch money then you're not 'wealthy'.. like the heroes you've read about? I did that too when I was in Uni, but in my 30s now I don't really care about those guys anymore and it's more about what achievable for me.. which is quite a lot and should be for you too. So wealthy you never have to work another day in your life is different to having everything you want and never having to think twice about replacing something with the latest and greatest. The latter I consider wealthy and would be what most people would strive for, never working another day in your life is something else and I don't really understand why it's such a desirable goal. You can try it, save some money and be unemployed for a while.. I did it when I returned from my last Europe trip. After 6 months I was so loving bored that it was affecting my mental health, despite filling the days with the gym and friends and stuff. As I get older work increasingly becomes the place I meet new people, interact with friends I've made and generally get exposed to stuff I wouldn't do on my own. It's not some kind of sentence.. unless you do something horrible I guess, but don't do something horrible? photomikey posted:True wealth, I agree with everyone else, start a business and pour 80 hours a week into it. Do you have a business? Does anyone in your family? So you know why my Dad was such a lazy loving poo poo? He was a 'business man', he owned his own business. To me, that means a whole lot of bullshit and work and stress for not much money! Dad never had any money, never paid for anything. He didn't have a wage! He also had really weird and crazy ideas about money, to the point he would get angry when Mum spend HER money on something because it was a 'waste'. gently caress dude, you lazy gently caress, if you had a real job and earned an income like everyone else you wouldn't be such a weirdo. I hate small business people almost with a passion, because every time you really try to get the details it's all nebulous. How much did you really earn last year? If you don't know that, how do you know if you're making progress at all? At what point will you acknowledge this isn't making money? Now you've been masturbating in the corner to your 'dream' for the last 10 years, you can't actually come back to the workforce because 'loving around on my own' isn't actually a marketable skill. So yeah, just to continue my theme in this thread.. my extreme and out-there viewpoint is that a lot of small business people work long and thankless hours simply because they can't or won't collaborate with other people, they go and do it on their own because doing it with other people is beyond them. It's harder to discuss and compromise and be held accountable by your colleagues than everyday is what I say because I'm the boss! That then leaks in your personality, pretty soon you're a backward wanker that keeps making the same mistakes because you're the boss!
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Dec 9, 2016 00:17
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Tony Montana posted:"people in their 20s are babies who can't make decisions" - come on man, don't strawman me so obviously. I said people in the 20s who think theyve got it all worked out and like to tell others about how smart they are and foolish you are, are actually barely adults and are complete rookies at the whole life thing. They don't actually know poo poo and what they do know someone else told them. Nobody knows enough about someone else's life to tell them how to live it. People who go around telling other people they've been living wrong because there's only one correct way to do things are always idiots and can be safely ignored, no matter what their age. There's a pretty wide range of people in their 20s, too - by the time I was 26, I'd been living on my own for ten years without support, had lived on three continents, and was halfway through a professional degree. My sister is 26 now, going on year six of her undergrad, has never lived on her own without assistance and has had two part-time jobs in her entire life. It's awfully hard to accurately pigeonhole people. I definitely don't agree with you that "focus on the content and not how people are saying things" is good advice, but that may be due, as you point out, to our vastly different cultural backgrounds. (It's very cold here, which makes us want to conserve our energy by being precise, I suppose.) My counter-advice to the OP would be to be careful to say what you mean in a way that your audience will understand, because miscommunications can cost you time, goodwill, and sometimes even money. I would also caution OP not to accept "Oh, it's just [casual conversation/locker room talk/a joke/etc] as an excuse from others who don't do so. But maybe that's just the Canadian way.
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Dec 9, 2016 03:18
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That's good advice. The problem particularly on these forums is talking the way I have people will focus in on small details of what you've said rather than trying to understand the whole point. They're basically looking for reasons to discredit you and often can't see the bigger picture. Don't give people the opportunity to misunderstand or dismiss you, by keeping on point in an adult way. I totally agree, although I'm not the best at it. I just don't do the whole 'detached objective commentary' thing well, it's not in my nature.
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Dec 9, 2016 03:38
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A good piece of advice from my father that I've always followed (and it has helped make both of us wealthy) is to avoid debt when possible, and if you do have debt, pay it off as quickly as possible. Some people may be able to take out debt and use the cash to make money faster than the interest on the debt, but most people can't. Banks work on the fundamental basis that they charge more in interest on debt than they provide interest on savings / investments. Stocks can sometimes outpace interest on debt, but over the long term they generally will not. Pay off your debt, and save whatever you can. Also, money invested today is worth more than money invested tomorrow. It's basic advice, but it really makes a difference in the long run. Consider two scenarios: Scenario 1 you invest $1000/year for 5 years, and then nothing for the next 5 years at an interest of 5% - you end up with $7,400 at the end of 10 years Scenario 2 you invest nothing for 5 years, and then invest $1000 per year for 5 years at an interest rate of 5% - you end up with $5,800 at the end of 10 years. $1,600 difference on $5,000 total investment is quite a large differential, and shows the time value of money very clearly.
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Dec 9, 2016 06:15
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Facebook Businesses
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Dec 10, 2016 20:43
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Others have said it, but in my own life, networking and connections have made even a buster entry-level management position at a major retailer enough to make me feel wealthy, in that every single bill was paid on time and I could go on dates with my then-girlfriend whenever I wanted to. Seriously, good networking has gotten me jobs, obviously, but it also got me a "rent-free" house in Florida, a brand new car from a really bad wreck, and a ton of great friends and experiences that I would have never been anywhere near otherwise. Even when I had to completely uproot and move back in with the parents with my tail between my legs, my old connections got me a first week promotion in my job, front row tickets to a concert, and a bunch of old, sorely missed friends. What I'm saying is, "How to Win Friends and Influence People" is a solid loving investment of a book, even if it does make you a bizarro social Muppet for a while before you actually get how it works.
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Dec 11, 2016 05:05
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I disagree with the "avoid debt" person. Bankruptcy has always been very kind to me. Avoiding bankruptcy is avoiding success. Good if you want middle of the road don't rock the boat money. Full disclosure I took the weak path. But to be really rich, take that debt and take a risk.
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Dec 11, 2016 06:07
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