I want financial freedom by the time I'm 21

[pimpfromdayone]

Why are you calling me naive you pompous bas-tards? Holy shi-t, the minute someone on here has a goal in life different than yours, you have to try to tell them they're stupid. First of all, there is nothing wrong with doing what you like to do and at the same time enjoying the money it makes you. I never contradicted myself. If I want to have a meaningful career where I help others, you shouldn't discredit my virtue simply because I like the money that goes with it. Since when have you helped anyone?

Secondly, I am FULLY aware of what it takes to be a doctor, and the obstacles I must face, probably MUCH more aware than any of you know-it-alls, because one of my parents is a doctor, and both of them work in the medical field, and they in turn know many other doctors/surgeons. Things haven't changed that much, and I realize malpractice insurance is a killer, but at the same time, there are many benefits, mainly the demand for people to fill these jobs. I don't know where YOU get your information from (apparently not first-hand like me) but doctors all make dam-n good money right out of residency. It's not like college is hard, and I anticipate being done in 3 years no sweat. Getting IN med. school is the hardest part. Four years of med. school, followed by residency (3-6 years and you get paid like 30K-50K during this so it isn't bad), and there are employers out there waiting to hire you and pay big. I don't need millions, to be honest with you, but I would be more than happy with a few hundred K and this is where we're different. It's not guaranteed I will get there, but when I do, it will be guaranteed money. People who work hard get what they deserve usually (even though in this country we are punished for out success, with taxes). Anybody (especially with help of an expert) can invest money and make more money, when they have some money to invest of course. Yes, many surgeons can afford to retire early, in their 40's, especially those who invest money, and I know some who have, so believe it, or don't, I don't care. You're 58, still working apparently, and I am young, with a goal, and I feel you don't want people like me to succeed. I don't even know why I bother typing this crap out and arguing..... I don't care what you do, and you shouldn't care what I do.

btw, I still have my options open for other plans, but this is just something I need to start early on if I want to do it (obviously time consuming). If I find it isn't for me, I can easily go back to college to get a business degree (easy degree) and I would work in that field.

 

[Reiki]

This is too good of a thread to go to waste.

 

[sifer]

Re: bird dog

Originally posted by cave dweller

A bird dog is a person bringing a seller and buyer together for a fee. (without holding a current and valid real estate license)

Collecting a fee as a bird dog is against the law.

my 2 cents

cave dweller

I'm a flipper, I should know.

Collecting a fee as a bird dogger is not illegal in my state, I checked.

My last two deal I paid a person (same person) a birddogging fee. We arranged a contract that says that if I buy the property he gives me the lead to, I give him, for this example, about 1% of my profit in the end at closing (or a day after closing).


My apology for a minute. I misread the context of the words you said.

You do NOT bring the seller or buyer together!!!

That's not a bird dogger!

 

[sifer]

Re: retire at 58?

Originally posted by cave dweller
pimp,

You are just supporting what we have been posting about here.

ie:

1..Get a good job.
2..Save a portion of your income.
3..Invest your savings.

cave dweller

I disagree.

I don't have a job let alone a good job.

I don't have a realized income.

110% of my income comes from unrealized income (ala investing).

I don't have a savings either. At least not the savings you're thinking of (the one you keep in the bank in an account called "Savings Account").

 

[sifer]

I'm going to assume that you're talking to me specifically.

Originally posted by pimpfromdayone
Why are you calling me naive you pompous bas-tards?

Your sarcastic remarks earlier on Page and I certainly provoked a thought in our brain that said, "wait a minute, what is this guy saying? Everyday people are doing exactly what he is, what makes him thinks he is any different?"

Holy shi-t, the minute someone on here has a goal in life different than yours, you have to try to tell them they're stupid.

Beg your pardon? Did I say you're stupid? Quote me on this please.

Since when have you helped anyone?

I have no need to argue on this. You are indeed naive.

Investors and businessowners particularly donate far more than the general worker population (ie; your mom & dad). They do so because they believe "what comes around goes around".

Just read The Millionaire Mind by Thomas J. Stanley, they have a chapter devoted to why the rich and the likes (me, starting out) donate.

Here's one reason why. Tax shelter.
Here's another reason why. Religion.

It all fits in like a puzzle. And we know we've done something.

As for me, trust me. Just take it from me, I've helped plenty and willing to help.

I simply open the door for someone and hope he walks through it.

If not, that's him. Nobody's forcing anyone to do anything.

you, but I would be more than happy with a few hundred K and this is where we're different. It's not guaranteed I will get there, but when I do, it will be guaranteed money. People who work hard get what they deserve usually (even though in this country we are punished for out success, with taxes).

Ok grasshopper. We get it, you want to be a doctor because you love it.

Anybody (especially with help of an expert) can invest money and make more money, when they have some money to invest of course.

Oh yes, that's why they call it "broker". Oh yes..

I don't even know why I bother typing this crap out and arguing..... I don't care what you do, and you shouldn't care what I do.

Skimmed... skimmed. Aha.

I don't think anyone cares. Bingo. Nobody cares.

btw, I still have my options open for other plans, but this is just something I need to start early on if I want to do it (obviously time consuming). If I find it isn't for me, I can easily go back to college to get a business degree (easy degree) and I would work in that field.

Hey pimpfromdayone, do me and yourself a favor.

You seem to be arguing that we should all be medical doctors, just go do it. Page, STR8UP, and the rest of us prefer you do that than go on this topic and get it offtopic.

If you don't like the advice here - go away. Your advice is only good for job hunters if you have given any advice at all.

 

[pimpfromdayone]

Don't flatter yourself, I was addressing all of Page's very astute comments, but this post is for you. I just find it amusing how everything I say you like to turn into an argument. I said THIS message board is not the place to go if you want any USEFUL advice, and I meant it. Being a doctor is my own goal (you insist that it is only for money, but it's not, and I have no reason to defend that any further). You have your own goal, everything is fine, but I never said everyone should do what I do, so don't put words in my mouth. Naive is a fu-cking euphemism for stupid and you know it, don't act like you don't know what you're saying.

It is relevant to this topic because a good income would give me a great opportunity for investment or business, whatever I decide, but as it stands now, I have no income, and I'm not about to borrow any money. Technically I have an established business, but there isn't any cashflow right now so it is going nowhere fast. Sure, I could get loans like anyone else, but my priority right now is education.

You seem to think I am against businessmen.... well, not all of them, but many. So what if they donate their money once they've reached the top? I guess that makes them all model citizens huh.

Reiki, this is not too good of a thread to go to waste. There's nothing here for you.

Well, I'll let you go back to your important topic now. You've been most entertaining, although I would have enjoyed just a tad bit more challenge in the arguments, but oh well.

 

[longwood]

Re: the law..........

Originally posted by cave dweller


3...You can not collect a 'bird dog fee' or a commision from a real estate sale ( between a seller and a buyer) without holding a current real estate license.

cave dweller

\

but you can put a property under contract and sell that contract to another buyer, because thats what's she does

 

[cave dweller]

legal.............

longwood,

If she 'ties' up a property with a contract and then sells the contract---Now, that is legal.

I thought she was selling real estate without a license.

cave dweller

 

[STR8UP]

Re: retire at 58?

Originally posted by cave dweller
pimp,

You are just supporting what we have been posting about here.

ie:

1..Get a good job.
2..Save a portion of your income.
3..Invest your savings.

cave dweller

That's one way to go about it, but the original topic of the post was about wanting financial freedom by the age of 21.

Difficult? Yes. Impossible? No. But for it to be possible AT ALL (or to reach the goal in 5-10 years in general) the education/job/saving/investing route isn't going to cut it.

To make things happen in a short time you have to either start a business that generates a huge profit (or that someone else sees has the potential to), or you have to learn how to buy other profitable assets with very little or no money of your own. Both ways you have to do everything just right to acheive the desired results, and it isn't easy, that's for sure.

 

[STR8UP]

Originally posted by sifer
I don't know about ST8UP but here's what I have to say -

If it allows me to profit, I take it. Plain and simple.

Yup, the idea that "high" interest rates are bad is one of the things that you have to get out of your head. There is no such thing as paying too much in interest or fees if the investment pays for itself and leaves a profit. That doesn't mean that you shouldn't get the lowest rates possible, it just means that you should never step over dollars to pick up pennies by turning down a loan bacause it's "too expensive".

 

[MacAvoy]

Move to Canada, start growing weed, smuggle it across the border and you'll be rich by the time your 21 guaranteed. Just don't get caught. But in Canada, you'll be out in 6 months, so you can get growing again, so you'll still be rich by the time your 21.

 

[Page]

Originally posted by MacAvoy
Move to Canada, start growing weed, smuggle it across the border and you'll be rich by the time your 21 guaranteed. Just don't get caught. But in Canada, you'll be out in 6 months, so you can get growing again, so you'll still be rich by the time your 21.

Nah, the best stuff comes from Jamaica.

there are better ways of making money w/o breaking the law.

 

[VinhReborn]

Hi everyone, long time reader and first time poster here and i am here to ask for your advice. I am currently in college and wondering what course of study i should pursue to advance myself in real estate. I have read all the books mentioned on this thread and a few more in top those. my parents are willign to pay for college and i feel i cant turn that down and my parents are also thrilled i plan on following your advice and heading into real estate afterwords. Actually, my dad has been stealing my books to read for himself. so if u guys can reply with your opinions, you would be a great help.

 

[MetalFortress]

I'm working on becoming a car salesman. I know not only do they make good money, but in a way it's like running a minibusiness because rather than the safe monthly salary, you compete and earn based upon your performance. With the capital, God willing, I plan to both buy cars for low prices at auto auctions and then sell them on the Auto Trader, and buy designer clothes wholesale and sell them individually for higher profits. From there I hope to start a Ross-style cheap designer clothing store, and a used car dealership, and in the future, new car dealerships.

There are two things I know in this world: cars and clothes. Number one, I love buying designer clothes at prices that are way below what they normally go for. But number two, and the main thing here, is I'm a car-a-holic. When you get me started talking about cars, GOOD LUCK SHUTTING ME UP.

I'm also a radio addict, and working towards getting on the radio. This is more a fun thing, and a way to get my name out there and get publicized, because the more famous you are, the easier of a time you have succeeding in business.

 

[RaWBLooD]

Originally posted by MetalFortress
I'm working on becoming a car salesman. I know not only do they make good money, but in a way it's like running a minibusiness because rather than the safe monthly salary, you compete and earn based upon your performance. With the capital, God willing, I plan to both buy cars for low prices at auto auctions and then sell them on the Auto Trader, and buy designer clothes wholesale and sell them individually for higher profits. From there I hope to start a Ross-style cheap designer clothing store, and a used car dealership, and in the future, new car dealerships.

There are two things I know in this world: cars and clothes. Number one, I love buying designer clothes at prices that are way below what they normally go for. But number two, and the main thing here, is I'm a car-a-holic. When you get me started talking about cars, GOOD LUCK SHUTTING ME UP.

I'm also a radio addict, and working towards getting on the radio. This is more a fun thing, and a way to get my name out there and get publicized, because the more famous you are, the easier of a time you have succeeding in business.

You have the goal, the drive, and do you have a date?

Overall you are on the right track.

Originally posted by STR8UP
Yup, the idea that "high" interest rates are bad is one of the things that you have to get out of your head. There is no such thing as paying too much in interest or fees if the investment pays for itself and leaves a profit. That doesn't mean that you shouldn't get the lowest rates possible, it just means that you should never step over dollars to pick up pennies by turning down a loan bacause it's "too expensive".

I'm sorry I won't be skimming through the thread, but i am interested in your post, are you currently involved in taking out a loan for long term profit?


Personally im involved in a B2B type career where I get a cut off of the profits made.

I'm also in the process of starting a website wich will make substantial revenues.

 

[MetalFortress]

No, I don't care to set a specific date. It will happen when it's supposed to, as long as I keep working towards it.

 

[pimpfromdayone]

Becoming a car salesman is really easy, and I know one who makes pretty good money at it. Maybe I'll resort to that some day if I somehow fail at everything else. Oh yeah, you don't even have to know a lot about cars to sell them well. Most customers know nothing about them, so all you need is a little knowledge to be successful. You don't sit there and tell them about the wonderful compression in the cylinders and how many foot-lbs of torque the engine puts out. All you do is let them drive it and then tell them the most basic specs. Car salesmen probably know more about psychology than cars. A good one can adapt to any customer, whether he is angry, happy, a smartass, etc., use a little pressure, read the customer, and sell the car.

Good luck with the clothes thing. I have bought wholesale Ralph Lauren, Abercrombie, and similar brands and sold them on Ebay to get the ball rolling, but after you gain enough capital, you need to get away from Ebay asap... they rob you of profit. I'm not saying you were going to do this in the first place, but just in case you do, don't get caught up in that trap. Your own website is the way to go definitely. I learned very quickly though that you need a good amount of money to get started in this business because the legitimate wholesalers sell only in LARGE quantities. If you buy from the smaller ones which offer the same clothes at the same low prices, you might be getting counterfeit clothes, so don't deal with any company that doesn't include some type of authentication with their product, like certificates of authenticity or origin. Unfortunately even these can be counterfeit. Your only option is to gather your money and buy only from the largest wholesalers.... I don't have enough money yet, lol, but I'm positive that the clothing companies will tell you who the authorized wholesalers are. I'm just saying you need to be really careful that your sources are legitimate or you will get BURNED. I know because I had an order get rejected by customs because it was counterfeit and that hurts bigtime. So, in conclusion, don't fu-ck with these "wholesalers" you might find listed on the web. Some might be legitimate, many are probably middlemen who rob you of profit, and the rest have non-authenic crap. Get the money, find the real dealers.

 

[MetalFortress]

Dude, I've been working at a car dealership since December 2004 as a lot porter. I know how selling cars goes and what it takes to sell cars. I'm around salesmen every day.

 

[pimpfromdayone]

Your point is?

 

[CHOCOLATE(COLA)]

Another good goal is totaly freedom by 30.