Vic's Guide on How Not to be Poor

Vic

Elite Member
Jun 12, 2001
50,422
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- Strive for excellence in all things.
- Never sell yourself short.
- Be honest. A lie that gains business today will cost business tomorrow.
- Make as much as you can.
- Spend less than what you make.
- Don't believe in "get rich quick" schemes. Only suckers do... and get suckered every time.
- When others are buying, you should be selling, and vice versa. Never buy into a "hot" market -- that means prices have already gone up... and will soon come back down.
- Never believe people who talk about your potential. That's how mediocrity tries to make winners feel guilty. What you are doing right now is your potential. Keep it up.
- Never believe anyone who wants to make you feel bad for winning. There are always winners and losers. If you did your honest best and won, then it's not your fault they lost.
- Avoid carrying debt. Don't shop for the lowest price on a hot deal and then keep the balance on a card collecting interest. That makes no sense whatsoever.
- Tell the Joneses to shove it. Life is not a competition with other people, but with yourself. Pleasing other people is the surest way to make yourself unhappy.
- Avoid anything that will increase your insurance costs.
- Avoid anything that will increase your taxes and/or governmental fees/fines.
- Keep money saved away for a rainy day so you don't have to borrow from loan sharks when that rainy does comes (and it will).
- Buy only what you need, and buy things that will last.
- Always remember that a woman who loves you for your car/house/bank account/portfolio/trust fund/diamond ring you gave her/marriage ceremony of a lifetime/insert other material item here, don't love you.
- Enjoy!
 

nageov3t

Lifer
Feb 18, 2004
42,808
83
91
-have rich parents
-pay government to cut taxes to help you become even more rich (ie: less poor)

?

:p
 

Vic

Elite Member
Jun 12, 2001
50,422
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Originally posted by: ElFenix
'doesn't love you'

sigh... poor grammar was used intentionally for emphasis in that particular instance.
 

ElFenix

Elite Member
Super Moderator
Mar 20, 2000
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Balance(n) = P(1 + r)n + c[((1 + r)n + 1 - (1 + r))/r]
 

Engineer

Elite Member
Oct 9, 1999
39,230
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Work 106 hours of OVERTIME over a two week period.

Repeat above. :)

(Sorry Vic, just had to inject my humor (well, not really as I did work 106 hours of overtime these 2 weeks) into your thread ;) )
 

ElFenix

Elite Member
Super Moderator
Mar 20, 2000
102,374
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Originally posted by: Engineer
Work 106 hours of OVERTIME over a two week period.

Repeat above. :)

(Sorry Vic, just had to inject my humor (well, not really as I did work 106 hours of overtime these 2 weeks) into your thread ;) )

13 and 1/4 hours per day! :Q

i mean, yeah, it isn't something you'd want to do on a regular basis... but that's like an extra 4 weeks' pay!
 

judasmachine

Diamond Member
Sep 15, 2002
8,515
3
81
At Smith Barney we make money the old fashioned way...

We inherit it from our fathers who made others work really hard for them while they sat on their ass.
 

Amplifier

Banned
Dec 25, 2004
3,143
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Originally posted by: loki8481
-have rich parents
-pay government to cut taxes to help you become even more rich (ie: less poor)

?

:p

Dude I'm with you! No one makes money unless they have rich parents.
 

Stunt

Diamond Member
Jul 17, 2002
9,717
2
0
Originally posted by: Amplifier
Dude I'm with you! No one makes money unless they have rich parents.
Guilty...:(

Although I haven't started making money yet :(
 

Vic

Elite Member
Jun 12, 2001
50,422
14,337
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Hmm... do I cast pearls before swine? Seems like only ElFenix got it. Example, a few years ago, a school janitor died and left some $2.5 million to the school district. He never made more than $25k per year, where did the money come from? It turned out that he lived a simple, austere life and had saved and conservatively invested most of his income. Over the years, even his paltry income added up to a tidy amount. Now, nobody says you need to live like that janitor did, but if you quit spending more than you make, and quit spending half your income on interest charges, and quit foolishly wanting everything today along with a big bank account tomorrow, then you wouldn't believe the lie that the only way not to be poor is to have rich parents.
 

DealMonkey

Lifer
Nov 25, 2001
13,136
1
0
Originally posted by: Vic
Hmm... do I cast pearls before swine? Seems like only ElFenix got it. Example, a few years ago, a school janitor died and left some $2.5 million to the school district. He never made more than $25k per year, where did the money come from? It turned out that he lived a simple, austere life and had saved and conservatively invested most of his income. Over the years, even his paltry income added up to a tidy amount. Now, nobody says you need to live like that janitor did, but if you quit spending more than you make, and quit spending half your income on interest charges, and quit foolishly wanting everything today along with a big bank account tomorrow, then you wouldn't believe the lie that the only way not to be poor is to have rich parents.

No, I got it Vic. Some very good advice. But some people like to live every day like it's their last. Hence the Porsche Boxter and the house on the beach! :D
 

charrison

Lifer
Oct 13, 1999
17,033
1
81
Originally posted by: Vic
Hmm... do I cast pearls before swine? Seems like only ElFenix got it. Example, a few years ago, a school janitor died and left some $2.5 million to the school district. He never made more than $25k per year, where did the money come from? It turned out that he lived a simple, austere life and had saved and conservatively invested most of his income. Over the years, even his paltry income added up to a tidy amount. Now, nobody says you need to live like that janitor did, but if you quit spending more than you make, and quit spending half your income on interest charges, and quit foolishly wanting everything today along with a big bank account tomorrow, then you wouldn't believe the lie that the only way not to be poor is to have rich parents.


I think that is the problem...
 

1EZduzit

Lifer
Feb 4, 2002
11,833
1
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Any bet's that the janitor was a lifetime bachelor?

One also has to remember that you only live once so have some fun when you go through life. Stop and smell the roses.

What's the point of being the richest man in the cemetary????
 

Vic

Elite Member
Jun 12, 2001
50,422
14,337
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Originally posted by: 1EZduzit
Any bet's that the janitor was a lifetime bachelor?

One also has to remember that you only live once so have some fun when you go through life. Stop and smell the roses.

What's the point of being the richest man in the cementary????
I'm not suggesting that either. Just that it is possible to slowly build a mountain to enjoy instead of burying yourself deeper into a bottomless hole.
 

NeenerNeener

Senior member
Jun 8, 2005
414
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That's all good advice I'd say although extremely idealistic. Many people end up going into debt because they can't pay their hospital bills. I'd also add "don't live in california". Plus don't borrow 80k for an education. Print your list out, and give it to a homeless veteran....Count to ten.
 

1EZduzit

Lifer
Feb 4, 2002
11,833
1
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Originally posted by: Vic
Originally posted by: 1EZduzit
Any bet's that the janitor was a lifetime bachelor?

One also has to remember that you only live once so have some fun when you go through life. Stop and smell the roses.

What's the point of being the richest man in the cementary????
I'm not suggesting that either. Just that it is possible to slowly build a mountain to enjoy instead of burying yourself deeper into a bottomless hole.

I understand that and wasn't trying to suggest you were. I know you better then that by now. :)

I just thought I should point it out for the Neocons who might not get it.
 

IndieSnob

Golden Member
Jul 7, 2001
1,340
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Bravo Vic!

See kids, some people can give valuable information without relying upon others writings.