Anyone striving to be filthy rich?

[KillingTime]

I am, not really Bill Gates rich but definately celebrity rich.
Anyone else out there not just dreaming about it but actually planning on making it come true?
Im studying so hard (aside from college) to learn all the ins and outs about money and investing... it gets a little old sometime but I just picture the big ass house and the lamborghini parked in the driveway and it gets me back on track.

What drives me the most is the freedom, I know that if I just got some high paying job I could probably afford a fairly big house and a nice car but Id be working so hard I'd never really have time to enjoy anything.

The biggest problem is people telling me it's not possible, that doesn't bother me at all though... it may not be possible for them b/c of their negative attitude but it's definately possible for me. Second biggest problem is so many people who THINK they are money experts dishing out all the wrong info... but you just have to be careful whos advice you take.
I don't care though, whatever it takes... even if I lose everything several times I'm going to be really wealthy.

 

[SamePendo]

Originally posted by KillingTime


The biggest problem is people telling me it's not possible,

Same ****ers that tell you that getting ___ girl is impossible right?

I'm going one step at a time, but, yeah, that's my goal.

 

[Panda 2000]

I'm more about having skills and leading an interesting life.

 

[InsidiousNstinct]

When someone tells you something is impossible its because their to lazy to do it themselves....or they failed at it so they think you will to.

Don't let this be your mindset...

 

[chalk]

Im gonna start making my millions soon but first i've got more living and traveling to do.

I don't wanna get to mid 30's or 40's and regret wasting my 20's on aquiring bits of paper

 

[dietzcoi]

Do not marry, do not have kids, until AFTER you are rich, or you will never be rich. Trust me.

Dietzcoi

 

[Omega]

Originally posted by dietzcoi
Do not marry, do not have kids, until AFTER you are rich, or you will never be rich. Trust me.

Dietzcoi

Prenup my good man.

 

[Jvesti]

Yup we are out there

For me it is an all consuming obsession

Anyways we should all network,

Feel free to hit me up on AIM at Jvesti123 or PM me.

Whoever else is leave ur contact info here or just contact me and i'll get you connected with everyone else.

- James

 

[Francisco d'Anconia]

I'd settle for grimey rich. Hell, dusty rich doesn't sound too bad either...

 

[theSpeculator]

This is what many successful business owner have said over and over: "It's not about the money."

People who go into business or just about anything just for the money will never be successful. And if they do, they are not happy.

I used to be greedy and naive like you when I started investing in the stockmarket. That was two years ago. I didn't go in blindly, I read articles online about investing before jumping in.
What resulted is that the more greedy I became, the more money I lost and the more pain inflicted upon me. Lucky I realized I was making mistakes and I search for books to find answers. I found one that gave me an epiphany in the stockmarket the same way that sosuave.com gave me on dating.

I still invests in the stockmarket but it is not completely about the money but because I like it. I've worked hard to learn as much as I can and I'm still learning and now I'm seeing my hard work finally paying off.

You kind of remind me of me a two years ago. You seem to be an intelligent but "naive" guy. You're just lacking direction. I think you're just waiting for someone to give you direction and pointed at the right direction you can potentially become a great investors just like an AFC can potentially become a great DJ.

If you are interested in the stockmarket I suggest you read this book "How to Make Money in Stocks" and "The Successful Investors" by William J O'Neil. And then consider buying a subscription to Investor Business Daily also founded by O'Neil. College student gets a discount.

Go here for an introduction:
http://www.investors.com/learn/default.asp?tn=left

 

[George Gordon]

theSpeculator.

Why invest in stocks when you could sell them?

!GG!

 

[Panda 2000]

So if the point of turning stocks isn't making money, then ... well, what is it? Getting to know all those cute guys wearing ties at the stockmarket?

 

[Jvesti]

yup I agree with investor. I only focus on what vaue I can bring to people not money. And guess what, the ideas pour into my head like no ones business.

Money can make you monofocused. It can make you only think of ways to crowbar more money away from someone instead of thinking on the valueside or innovation side to change a business model. IMO

Anyways, through my hard knox I used to make the mistake of thinking i'd get very far being a lonewolf with no connections. That's why im really pushing for all of us to start networking and talking shop here.

James

 

[Matt Rogers]

Just to mention a lot of prenups designed to protect wealth do not stand up in court. No matter how well you try to protect your wealth divorce is a costly procedure. Plus each child costs an average of 100000 dollars to raise.

My main advice on getting rich:

1. Start your own business or company and sell it. It is v hard to become rich as an employee unless you are willing to work for hundreds of hours a week in banking, law or consultancy.

2. Save money at least 15% if not more of your income and invest it sensibly in mutual tracker funds and some shares.

3. Live a frugal lifestyle rather than spending everything you earn.

BTW it has been shown that most millionaires are normal folk earning around 100K a year with a beat up car, a normal sized house and none of the trappings of wealth.

There are lots of people living glamarous lifestyles with fast cars, huge houses etc. But are they wealthy? No. All the money they earn is spent immediately and they are unable to accumulate any wealth.

 

[Dimebag_Darrell]

bonds and stocks buddy, bonds and stocks, mutual funds....they get you money aside from your career or job.

 

[diplomatic_lie]

"If you enjoy what you do, you'll never have to work a single day."

 

[theSpeculator]

Jvesti,

You got my name wrong. So why would I want to network with you? What do you got to offer to me? How would I benefit from networking? j/k

If you really want to network and talk about stocks, read the two books I recommended. Then we can talk!!

 

[KillingTime]

Nah i'm not into stocks... well I am but i'm not interested in that right now.

Step 1 for me is to create a business, or several businesses, this is my main focus right now. Investors invest in businesses, i'm not about to jump into investing without understanding how a business works from the inside first.

Step 2 is to use those businesses to aquire more assets, most likely real estate.

Step 3... THEN come the paper assets, but that should be a few years down the line at the very least.

 

[theSpeculator]

Stock investing is not as easy as most people think. There is a saying among many investors, "The stock market is like a great giant beast that will devour an unexpecting man until nothing is left." Also since it is so popular, there are many financial advisor, books, newletter, etc that continuously gives out bad advice.

You cannot expect to read a few books and then suddenly feel that you're a pro at it. hmmm...sound familiar? It's like people here reading the DJ Bible and immediately think they can go bang the hot chick next door.

No you still need experiences. Those two books are just meant to point you in the right direction. You still need to gain market experience. The market moves in cycles, ie up and down and up etc. You will need to go through a least one cycle to get an understanding of how the market works.

It is never too early to go into the market. You dont even have to put too much money in. It is better to start now and gain some experience so that you will have learned enough by the time you have your business then to start after and lose a lot money.

 

[theSpeculator]

There is an old saying:

"The future belongs to those who prepare for it" - Confucius