How to make it in life

[IHateMyJob2004]

1) Buy sued cars or buy new and hold for atleast 10 years.
2) Best Buy (hot deals).
3) learn to invest. Whether it's real estate, the stock market or otehr methods. Point is, do not rely on an employer...rely on yourself.
4) Buy a fixer upper the first few tiems you buy a home. You can do it every 2 years tax free and in 10 years, the idea of not having a mortgage can be VERY REAL. I plan on doing 1 more fixer upper. My first home was simpyl a good ivnesmtent, the second is a fixer upper. Currently looking for #3.

Please add to list.

 

[raptor13]

Get a well paying job and don't blow all your money on hookers and mescaline.

 

[Hyperblaze]

Originally posted by: raptor13
Get a well paying job and don't blow all your money on hookers .

oh...so THAT is where I went wrong! 😉

 

[bockchow]

Originally posted by: raptor13
Get a well paying job and don't blow all your money on hookers and mescaline.

now you tell me, 25 years down the drain

 

[rh71]

- be cool, stay in school
- born rich

 

[Yossarian]

live within your means. if you have to carry thousands of dollars on your credit cards you aren't.

 

[TheShiz]

don't buy into the consumer bullsh!t lifestyle. more crap doesn't make you happy.

 

[rufruf44]

Start a business. You'll not get rich working for someone else. Just watch for the 80% failure rates though 🙂

 

[NogginBoink]

1) Spend less than you make.

If your outgo exceeds your income, your upkeep becomes your downfall.

 

[edro]

Originally posted by: TheShiz
don't buy into the consumer bullsh!t lifestyle. more crap doesn't make you happy.

OH SO TRUE! Keep it simple... Screw the hottest new gadget... Unless it's a 21" LCD 🙂

 

[jjones]

Auction off all of your stupid and useless Christmas gifts on Ebay.

 

[Barnaby W. Füi]

http://www.simpleliving.net/

also: http://mindview.net/WebLog/log-0037

 

[dirtboy]

I dunno why you say don't buy new cars. I bought my second new car and I'm 29. I also don't know why you say buy fixer uppers, I'm buying my 2nd brand new house next Thursday... has the 1st one built 12 months ago. I'm making it quite well despite all the people who told me not to buy a new house, new cars, etc. *shrugs*

 

[judasmachine]

Originally posted by: raptor13
Get a well paying job and don't blow all your money on hookers and mescaline.

crap... too much mescaline here. but you know what, i'm totally happy. 😀

 

[Vic]

Originally posted by: NogginBoink
1) Spend less than you make.

If your outgo exceeds your income, your upkeep becomes your downfall.

This is the ONLY financial rule. All else is complete bullsh!t.

If you can afford to by nice things, like new cars, then do it. Wealthy people almost never buy used cars. The difference is that they have the income.

 

[txxxx]

Originally posted by: TheShiz
don't buy into the consumer bullsh!t lifestyle. more crap doesn't make you happy.

And dont rack up credit cards trying to keep up with the bullsh!t consumer lifestyle either. End of the day, it cant be that essential if your using credit to purchase it.

 

[EyeMWing]

Start own business.
Work for someone else during initial stages just in case you go tits-up.

Always - ALWAYS have a plan-B.

 

[spidey07]

spend less than you make and earn a return on what is left over. pretty simple.

 

[DaWhim]

- compound interest, rule of 72. 72 divide by your interest rate will be the year that it will take for it to double itself. it will work for you or against you. it works the same way for credit cards APR.
the earlier you start your retirement plan, the more time it has to double.

- bargain for everything, it doesn't hurt to try.

- coupon saving

- learn to use credit card with rewards or cashback.

- if you can't afford it, you probably don't need it

edit: don't put all your eggs in one basket.

 

[badmouse]

I'm over 50, and I'd like to add seriously:

make lots of friends and take good care of them.

because when something ridiculous happens, and happen it will, your friends will see you through. Money in the bank is great, but friends are better.

 

[Engineer]

Only use the credit card if you can pay it off - and don't forget to get the one that pay you to buy - especially 5% back on Gas! 🙂

Absolutely: School

Hot Deals Forum - Can make you...but can also break you! 😱

Oh, and if you do have debt (mortgate, cars, etc), pay it off early. It isn't very hard. One extra payment per year on a 30 year mortgage knocks off 10 years.

 

[mugs]

Originally posted by: Yossarian
live within your means. if you have to carry thousands of dollars on your credit cards you aren't.

Live BELOW your means.

I see so many people my age buying expensive cars because they get out of school and they're making $50k a year... but at the end of the year they have nothing left. So stupid.

 

[spidey07]

Originally posted by: mugs

Originally posted by: Yossarian
live within your means. if you have to carry thousands of dollars on your credit cards you aren't.

Live BELOW your means.

I see so many people my age buying expensive cars because they get out of school and they're making $50k a year... but at the end of the year they have nothing left. So stupid.

yeah, all the younger guys I know are in the same boat - got decent job out of school (50K will provide a roof over your head) and they run out and buy a 35K car.

They are now 27-29, no house, no retirement, no savings, no real assets and getting raped on taxes wondering why they can't seem to get ahead.

 

[Lounatik]

Originally posted by: rufruf44
Start a business. You'll not get rich working for someone else. Just watch for the 80% failure rates though 🙂

Oh, I dont know about that. If my wife and I keep on saving for our retirement, in twenty years or so, we may amass around three-four mil or so. I think that can keep me going for a while. And this is working for somebody else.

I've tried the own business route and practically went broke the first time around. I like it when I can take advantage of a company's buying power i.e. group insurance rates and 401k matches. You cant beat free money.



Peace


Lounatik

 

[Engineer]

Originally posted by: Lounatik

Originally posted by: rufruf44
Start a business. You'll not get rich working for someone else. Just watch for the 80% failure rates though 🙂

Oh, I dont know about that. If my wife and I keep on saving for our retirement, in twenty years or so, we may amass around three-four mil or so. I think that can keep me going for a while. And this is working for somebody else.

I've tried the own business route and practically went broke the first time around. I like it when I can take advantage of a company's buying power i.e. group insurance rates and 401k matches. You cant beat free money.



Peace


Lounatik

I agree 100%!!! Watched my dad own a company for 20 years and then get put under by the big companies. Lost it all. I sorta like the backing of the larger company with financial strength. Compounding can turn to riches...maybe not overnight, but it can work.