Incoming Recession 2022/2023

[BackInTheGame78]

That is such a low percentage of people who get that head start, 80% of millionaires are self made. Just something I have noticed personally, those who just had it handed to them don't typically have the work ethic to do it on their own. There is a great book called The Millionaire Next Door, it gives a full statistical breakdown of traits and habits.

28 Millionaire Statistics: What percentage of Americans are millionaires?

How many millionaires are there in the US? Check out the latest stats to find out what percentage of Americans are millionaires.

spendmenot.com

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It's the young generation looking for any excuses they can cling to that explains their position in life so they don't have to hold themselves accountable.

Nobody has their whole life including their parents most likely, why start now as adults?

 

[BackInTheGame78]

That's another point.... All the paid online programs kinda make personal trainers obsolete. Not to mention would you have trusted his program if his physique wasn't impressive? I don't have the physique to sell myself like that....

I mean that's something you would need to work on then. It would be like me trying to be a software engineer without having a computer.

 

[jaygreenb]

It's the young generation looking for any excuses they can cling to that explains their position in life so they don't have to hold themselves accountable.

Nobody has their whole life including their parents most likely, why start now as adults?

Seems most people want a short cut or cheat code when reality its lifelong grind. Usually decades worth of making smart decisions, continual education, constant adjustments and forming good habits. Even if someone gets lucky and gets it fast they don't develop the proper tools to manage it and goes just as quickly. You really have to just embrace the journey and process. I think social media really skewed most people's perception on what it takes and what is realistic.

 

[Bigpapa]

That is such a low percentage of people who get that head start, 80% of millionaires are self made. Just something I have noticed personally, those who just had it handed to them don't typically have the work ethic to do it on their own. There is a great book called The Millionaire Next Door, it gives a full statistical breakdown of traits and habits.

28 Millionaire Statistics: What percentage of Americans are millionaires?

How many millionaires are there in the US? Check out the latest stats to find out what percentage of Americans are millionaires.

spendmenot.com

.

from a statistical point of view you just ignore the rest of the people who have maybe the same traits as the self made rich guys , just that they do got to the point of being rich

 

[Travel memoir21]

The game is rigged but that don't mean you have to play by the rules

I routinely shoplift items from the big supermarkets in my area .....they increased prices by 30% over night after recording record profits during the lockdowns

Sorry don't wash with me my income ain't increasing 30% somethings gotta give and that something is my willingness to act as a good little citizen

Also involved in varying degrees of tax avoidance

There are some very tough times coming and if anyone is in debt they are going to get destroyed as cheap credit ends and becomes extremely expensive

My advice do as our esteemed leaders do

Lie , cheat and steal from the system dog eat dog world

You shop lift? Doesn't the door detectors come on when you exit?

 

[jaygreenb]

from a statistical point of view you just ignore the rest of the people who have maybe the same traits as the self made rich guys , just that they do got to the point of being rich

Yeah, funny thing is some of the worst people with money are doctors and lawyers. Their finances are often a mess for number of reasons. There are plenty of people who just have good financial habits who aren't technically "rich" but they are very comfortable and in good shape. It really isn't that hard. Develop a skill to make 75K+ yr(usually takes a 3-5yr commitment), don't go to jail, don't have children out of wedlock, avoid consumer debt, buy used cars and avoid or minimize your car payments. Have roommates through your 20s. Save a minimum 15-20% of your income and increase that savings rate without lifestyle creep if pay increases. If you can get your income to 150k+ you will be well on your way to millionaire if you are consistent.

 

[Bigpapa]

Yeah, funny thing is some of the worst people with money are doctors and lawyers. Their finances are often a mess for number of reasons. There are plenty of people who just have good financial habits who aren't technically "rich" but they are very comfortable and in good shape. It really isn't that hard. Develop a skill to make 75K+ yr(usually takes a 3-5yr commitment), don't go to jail, don't have children out of wedlock, avoid consumer debt, buy used cars and avoid or minimize your car payments. Have roommates through your 20s. Save a minimum 15-20% of your income and increase that savings rate without lifestyle creep if pay increases. If you can get your income to 150k+ you will be well on your way to millionaire if you are consistent.

the key aspect is cash flow

very Simple example , if you want to buy the new Mercedes’ or just a second hand one put the money into down payment for an apartment and then use the rent tk pay the car

technically it is the same , practically it is not as the money were invested in towards something that generates money rather than something that will decrease in value

and if you can not put the down payment for an apartment that can cover up at least the monthly lease of a nice car , then it means that you are just to poor to buy a nice car

 

[Xenom0rph]

Fellas, the incoming economic calamity is no joke. This is not the time to live in a bubble and dismiss everything as a conspiracy theory, we simply don't have the luxury of naivete anymore.

The best advice I can give is to surround yourself with family and friends you can trust and ignore all troublemakers, drama queens, narcissists, leeches, deadbeats.

Be ready to ask for help from family/friends when you need it, and be ready to offer help to family/friends when they need it.

 

[jaygreenb]

Fellas, the incoming economic calamity is no joke. This is not the time to live in a bubble and dismiss everything as a conspiracy theory, we simply don't have the luxury of naivete anymore.

The best advice I can give is to surround yourself with family and friends you can trust and ignore all troublemakers, drama queens, narcissists, leeches, deadbeats.

Be ready to ask for help from family/friends when you need it, and be ready to offer help to family/friends when they need it.

Agree with this. Interesting times ahead, best to prepare in all areas.

 

[BackInTheGame78]

You shop lift? Doesn't the door detectors come on when you exit?

He starts blasting this song as he is doing it...

So @Bingo-Player ...do you wear the whole fake pregnant belly and the dress with makeup on so you can stuff the items in there? Or are you like the dude riding the kiddie horses in the beginning of the video??

"He walks right...
Through the door...
Walks right through the door...
They don't mind...
It's mine...mine all mine!"

 

[Pierce Manhammer]

We used to joke in prepper forums about having livestock and a guy with precious metals wanting to buy a laying hen, and saying “that’ll be a $20 Lib”.

I quadrupled my money from 07’-12’ selling battle packs of .308’s I’d bought for between .08-.16$/round for $1.00-1.25 a round. (SA), I had 50k rounds…. Kept the Radway and Port.

During that time iirc gold went from $325 to $1100 - haven’t looked to see where it is now. About the same return give or take.

 

[jaygreenb]

He starts blasting this song as he is doing it...

Wondering does he wear the whole fake pregnant belly and the dress with makeup on so you can stuff the items in there

"He walks right...
Through the door...
Walks right through the door...
They don't mind...
It's mine...mine all mine!"

 

[BackInTheGame78]

We used to joke in prepper forums about having livestock and a guy with precious metals wanting to buy a laying hen, and saying “that’ll be a $20 Lib”.

I quadrupled my money from 07’-12’ selling battle packs of .308’s I’d bought for between .08-.16$/round for $1.00-1.25 a round. (SA), I had 50k rounds…. Kept the Radway and Port.

During that time iirc gold went from $325 to $1100 - haven’t looked to see where it is now. About the same return give or take.

It's around 1900 or so

 

[BackInTheGame78]

Fellas, the incoming economic calamity is no joke. This is not the time to live in a bubble and dismiss everything as a conspiracy theory, we simply don't have the luxury of naivete anymore.

The best advice I can give is to surround yourself with family and friends you can trust and ignore all troublemakers, drama queens, narcissists, leeches, deadbeats.

Be ready to ask for help from family/friends when you need it, and be ready to offer help to family/friends when they need it.

Ehh... whatever happens happens...I'm a senior software engineer, I'll be fine. Switched jobs twice since the pandemic has started and both came with 15-20K raises. Also permanently remote now, so don't have to worry about gas/parking costs skyrocketing with commuting.

Quality SE's are pretty close to recession proof, we luckily live in a kind of fantasy world that doesn't exist for most jobs/people.

 

[jaygreenb]

We used to joke in prepper forums about having livestock and a guy with precious metals wanting to buy a laying hen, and saying “that’ll be a $20 Lib”.

I quadrupled my money from 07’-12’ selling battle packs of .308’s I’d bought for between .08-.16$/round for $1.00-1.25 a round. (SA), I had 50k rounds…. Kept the Radway and Port.

During that time iirc gold went from $325 to $1100 - haven’t looked to see where it is now. About the same return give or take.

Prepping was in style for a few years, remember watching some of those shows dedicated to it and some of the set ups

 

[BackInTheGame78]

In hindsight the biggest money making venture would have been to rent out a huge warehouse and take advantage of being paid $38 a barrel to take oil off companies hands when it went negative during the pandemic, then just simply wait and resell it for massive profits now...

Could have made tens of millions of dollars at virtually no cost.

If you took 100K barrels of oil, you would have gotten paid 3.8 million, enough to rent out a warehouse and pay workers and equipment to transport/stack/store the oil and probably make a tidy profit...

Then turn around today and sell it for over $12 million...

Opportunities lost...

 

[Bible_Belt]

We used to joke in prepper forums about having livestock and a guy with precious metals wanting to buy a laying hen, and saying “that’ll be a $20 Lib”.

I quadrupled my money from 07’-12’ selling battle packs of .308’s I’d bought for between .08-.16$/round for $1.00-1.25 a round. (SA), I had 50k rounds…. Kept the Radway and Port.

During that time iirc gold went from $325 to $1100 - haven’t looked to see where it is now. About the same return give or take.

See also "survival seeds," which are small packets sold to people who have never, nor will ever, grow anything. That's why they don't know they are paying such a ridiculous price.

 

[Pierce Manhammer]

I suggest heirlooms, at least that way the seeds will yield true to varietal…

See also "survival seeds," which are small packets sold to people who have never, nor will ever, grow anything. That's why they don't know they are paying such a ridiculous price.

 

[jaygreenb]

In hindsight the biggest money making venture would have been to rent out a huge warehouse and take advantage of being paid $38 a barrel to take oil off companies hands when it went negative during the pandemic, then just simply wait and resell it for massive profits now...

Could have made tens of millions of dollars at virtually no cost.

If you took 100K barrels of oil, you would have gotten paid 3.8 million, enough to rent out a warehouse and pay workers and equipment to transport/stack/store the oil and probably make a tidy profit...

Then turn around today and sell it for over $12 million...

I don't think you can do that legally, there are definitely regulations regarding storage/transfer etc and the oil was coming from major refineries. Not sure they let someone just roll up with some empty barrels.

 

[Pierce Manhammer]

Yeah I was a prepper way before the zombie craze. I built a 5br/3ba on 40 wooded acres, on pv, two wells, wood heat, backup Cummins converted to propane, wood stove in the kitchen alongside a propane stove and fridge. 20 cords seasoned bucked and stacked. Huge veg beds, protein on hoof, claws and pads - my forest was prime winter forage for all large mammals and was harvested about every 10-15 years. 5 years of balanced grains, veg, pasta, sugar, powdered milk, all bucketed and vacuum sealed by hand for a family of 5 counted out a 3500 kcal per person per day.

I had poured RV pads and hookups for 5 rvs with a 5kw in support and a septic to support them. Power would’ve gone in later in pv. This was for friends that would’ve bugged to my property with family. Everyone had roles all of us vets.

We had preprepped berms and defensive positions across the property with waterproof range cards stored in ammo boxes at each one. We had charity backpacks to hand out to wanderers we would come across well removed from our property as we had live game cams and and a nice little wifi mesh network that was solar powered.

We had the 32 potential choke points on the way to the undisclosed location all mapped and alternates selected in case of them being an issue, fortunately most of the mileage was across barren and or unpopulated areas in the northwestern redoubt.

Ahh yes those were heady days.

Prepping was in style for a few years, remember watching some of those shows dedicated to it and some of the set ups