I want financial freedom by the time I'm 21

[sifer]

Originally posted by pimpfromdayone
"god-sister's mother"? What the hell is that?
You're not fluent of Asian or Italian culture, I see.

And anyway, you did say "all she did was buy properties" so guess what, SHE HAD MONEY. IT TAKES MONEY TO MAKE MONEY.
She was a homeless in Harlem buddy.
It takes money to make money and she made it, she got money from elsewhere.

You have to have something to start with or you won't ever make it.
Sometime if you're good, you can make money appear out of thin air.

If they "bought properties" they had to start with some money, or get loans or something.
Or something.

Real estate is where one can make a lot of money, but very few get rich off of it, they work just like the rest of us.
If that's what you believe, then so be it. For me, I prefer to believe that everyone and anyone can get rich and wealthy, but it'll take effort and time and that's what most people aren't willing to shell out.

Look man, I have business plans, things I could at least try, but I will NEVER be able to try them unless I get some money,
Are you already shutting down your brain? You're not thinking.

and to get some money, I will have to get a decent paying career after college and put some of that money I make towards my business. That is the only way I see it.
Ok, that's what half of the college graduates do anyway, you'll have a lot of competition.

Any idiot can throw around daddy's million dollars and start a half-ass successful business, but it takes a genius or pure luck to start with very little.
I don't believe in luck, most people that succeed with absolutely nothing are genius or just a person with character.

Please read 7 Habits of Highly Effective People by Steve Cove.

 

[pimpfromdayone]

sifer, I see you conveniently avoided telling us what you did to get that money. I don't doubt you have money, but why do you mask your posts with such a shroud of mystery? I hate people who are purposely vague and don't tell specifics because they usually have something to hide, so if you want some credibility like you seem to want, go ahead and enlighten us on your situation. Big money by the age of 18, I have to hear this one.

 

[sifer]

Originally posted by pimpfromdayone
Actually, many people have gotten rich doing things they don't love, like those neurosurgeons who have $1.3 million dollar salaries.

http://www.findarticles.com/p/articles/mi_m5072/is_36_21/ai_55905388

Besides neurosurgeons ($502,947 average salary),

Where did you get $1.3 mil from?

And in order to become a neurosurgeon it takes hard work. I've read books like The Genius Within by Frank T. Vertosick, he's a doctor too (forget what kind of surgeon, though I know he works in a hospital as a surgeon; been a long time since I last read the book), I remember him talking about Darwin not being in the field that they were in, and spoke with passion of his job.

In order to get even just a Ph.D takes 10 years or thereabout (4-6 years Bachelor, 3-6 (around there?) Masters, then 2-4 (around there?) years for Ph.D then the graduate classes).

You must love wanting to be a surgeon or a doctor in order to work so hard to get there.

but I think borrowing money to put into something as risky as this is like borrowing money for the stock market or borrowing money to gamble,
I have people who love stock markets to death, because they make profit off of it easily. But I also have people who hate it to death, because they don't know how to make money. You choose who you want to be.

Besides, who told you to borrow loan from banks to gamble?

and there's only so much you can borrow.
Maybe from a conventional bank.

 

[sifer]

Originally posted by pimpfromdayone
sifer, I see you conveniently avoided telling us what you did to get that money. I don't doubt you have money, but why do you mask your posts with such a shroud of mystery?

I can tell you don't read my threads/posts. Please do. I am not vague or "hiding something".

 

[pimpfromdayone]

You know sifer, judging by the content on that little link you have, and the way you talk about "character" and not believing in luck, you sound a helluva lot like someone trying to endorse a get-rich-quick scheme. Those books are nothing but bullsh-it, because if all you have to do to get rich is read a book and somehow become motivated, everyone would be rich. This convo is really going downhill like that stupid scientology post we had on here.

 

[sifer]

Originally posted by pimpfromdayone
Anybody who thinks they can somehow easily become rich with NO money are lying to themselves.... the odds of that are very slim.
That's pimpfromdayone.

This is from sipher.

"Anybody who thinks they can get rich and wealthy with nothing must gear themselves for the effort and time they must invest in to work their empire. The odd of success is high if you believe in yourself and think differently."

Many people work hard, many people strive
to be successful, few get lucky.
That's pimpfromdayone.

This is from sipher.

"Many people work hard, but few work smart and use their time efficiently. Efficiency is everything. That's why those who get up and get it will succeed and people will simply say, "oh he got lucky.""

You somehow assume that rich people all get there by working really hard, but that's just not true, so stop saying it.
Who said they worked hard to get there? It's true, can you stand a lifestyle of Bill Gates?

Think so? Try working all day long and getting only 4 hours of sleep.

Can you stand a lifestyle of Donald Trump?
Think so? Try working all day long and, again, getting only 2 hours of sleep.

I remember reading that these two people admitted they only get that amount of sleep everyday.

And Donald Trump is a moron. He's one of those guys who would never make it anywhere with women if he wasn't rich, he is just that bad, so don't go talking like the guy is anything different than you or me.
He's bad with women, so?

someone needs to ask him how "daddy's business" is doing.
How is it his father's business? His father passed away (unless I got it confused with someone else) and he, through everytime after he bankrupts gets back up. I believe he has bankrupted around 10 times already.

Not bad, try bankrupting once. Let's see how you get up.

 

[sifer]

Originally posted by pimpfromdayone
You know sifer, judging by the content on that little link you have, and the way you talk about "character" and not believing in luck, you sound a helluva lot like someone trying to endorse a get-rich-quick scheme.
Thing is, it worked for me. That's why I endorse it. However I don't believe it's a get-rich-quick scheme. It's a bad mindset to have. Not very healthy if you ask me.

Read the book Millionaire Mind by Thomas J. Stanley, those who got rich got there in one generation. I believe thoroughly that I'm one of the people that got rich in one generation.

This convo is really going downhill like that stupid scientology post we had on here.
What does Scientology have to do with this? What is Scientology anyway?

 

[sifer]

Originally posted by tristan22

BTW...I know people who catch every break in life and i know others whom life has been very hard on--it's like bad luck and misfortune seem to always find them.

I'm always a big fan of Rene Descartes' work, "as I think, I am."

Mind over matter.

Really, everyday I go out, it only confirms my belief, more thoroughly that your mind, how you think, really is going to affect your life in every way, no matter how little.

Guess that's why they say, "a butterfly flapping in China can create a snowstorm or tornado in New York." (Chaos Theory)

One thought, one act, is all it takes.

 

[pimpfromdayone]

I enjoyed your 6 year old article, but you still don't seem to understand much about the medical field. First of all, you don't need a fu-cking Ph.D to be a doctor, so scratch that one out of your memory, and you don't need a masters either, so mark that one out too. And who the hell takes 6 years to complete a bachelor's degree? The standard is 4. Just for your own information, so you don't make a fool of yourself in front of anyone else, here is the pathway it takes to be a surgeon:
Bachelor's Degree- 3 to 4 years
Medical School- 4 years
Residency in your area of specialty- 3-6 years, neurosurgeons taking longest. You get a salary during these years too. Here I am not sure what it is, but it is probably right on par with the UK which gives salaries of $30k-$60k.
It takes like 11 years or so to get the full salary, but as far as I'm concerned, I look at it like a big promotion.
Yes, those not involved in surgery do earn from $150K to $250K average, depending on specialty, but to MOST people, that is a COMFORTABLE living. Anesthesiologists earn about $300K, and then the specialty surgeons (not general) like orthopedic and cardiologists get upwards of $400K. The neurosurgeons, making the most, get $500K average, but that $1.3 million I posted was from a job offering post in a local newspaper, a REAL figure, not some average. With medical school costs on the rise, malpractice insurance costs on the rise (I hate it), and fewer people going to med. school, salaries are bound to rise some too. If you need more money than this, I don't see why. There is not a single thing Bill Gates or Donald Trump or any of them has that I couldn't happily live without. In fact, give me a Ferrari or two, a decent house near an ATV park and lake, a nice wife, and a never-ending supply of food and I am a happy happy man. If you have to be a millionaire to be happy, you're never going to be a happy person, with or without that money.

 

[sifer]

Originally posted by pimpfromdayone
I enjoyed your 6 year old article, but you still don't seem to understand much about the medical field. First of all, you don't need a fu-cking Ph.D to be a doctor, so scratch that one out of your memory, and you don't need a masters either, so mark that one out too. And who the hell takes 6 years to complete a bachelor's degree? The standard is 4. Just for your own information, so you don't make a fool of yourself in front of anyone else, here is the pathway it takes to be a surgeon:
Bachelor's Degree- 3 to 4 years
Medical School- 4 years
Residency in your area of specialty- 3-6 years, neurosurgeons taking longest. You get a salary during these years too. Here I am not sure what it is, but it is probably right on par with the UK which gives salaries of $30k-$60k.
It takes like 11 years or so to get the full salary, but as far as I'm concerned, I look at it like a big promotion.
Yes, those not involved in surgery do earn from $150K to $250K average, depending on specialty, but to MOST people, that is a COMFORTABLE living. Anesthesiologists earn about $300K, and then the specialty surgeons (not general) like orthopedic and cardiologists get upwards of $400K. The neurosurgeons, making the most, get $500K average, but that $1.3 million I posted was from a job offering post in a local newspaper, a REAL figure, not some average. With medical school costs on the rise, malpractice insurance costs on the rise (I hate it), and fewer people going to med. school, salaries are bound to rise some too. If you need more money than this, I don't see why. There is not a single thing Bill Gates or Donald Trump or any of them has that I couldn't happily live without. In fact, give me a Ferrari or two, a decent house near an ATV park and lake, a nice wife, and a never-ending supply of food and I am a happy happy man. If you have to be a millionaire to be happy, you're never going to be a happy person, with or without that money.

Then be a neurosurgeon, noone's stopping you.
If you feel that "our" way is not working, that being a neurosurgeon will reap you a lot of profit that you desire, go ahead. I know for a fact pimpfromdayone, that you're quite capable and able if you desire so.

PS: Btw, you're 110% right, I don't know much about the medical field, because I'm not in it. I don't see the point of rhetorics however.

 

[pimpfromdayone]

sifer, I didn't mean to start an argument, but things often go that way with me for some reason, so don't take anything I said too seriously or anything. I still am completely serious about what I said about Trump, but that is just personal opinion. I completely understand all that you have said, and you're right, but I think in a way we're both right, we just have different goals. I don't NEED to be rich to be happy, I just want to do the best I can with what I have, and a mind is a terrible thing to waste, so I will take it to its fullest. I don't want to settle for a small salary like everyone else when I can do better, but at the same time I don't need millions. You said it yourself, that business can be very stressful when you're on the top, and I myself am not into that.... yes it's a rush and the excitement of success is just addicting, but I value security and a more laid-back lifestyle over that. I don't know what I will do (indecision between med. field and business) but I'm saying, if someone is happy living on $150K, and they are doing something they like and they feel good about (like helping others), there is no reason why they should be hell-bent on making millions. There's nothing wrong with wanting to be really rich, but I think people should be realistic and understand that it will take a lot of effort to get there, and perhaps they could be just as happy doing something else in that time. Different goals my friend.

 

[backbreaker]

WHOever said that you have to have money to make money is thinking without talking.


Okay, yes it makes it EASIER, but hell, it's easier to go to the NBA if you are 7'4, then if you are 5'9 now doesn't... but there are a couple of players in the NBA under 6 Feet.

So yes, it's HARDER, but not IMPOSSIBLE..


Can I get a DUH?

I can't believe how man ypeople these days are afraid of a little hard work.

Fat people.

Dumb people.

poor People

You have to look no farther than Me, as someone who started from nothing to making a nice amount of money.

As alot of you know, I started a company 4 years ago. I sold it, at least my share, for mid six figures. My stock was valued at over 2 million dollars, so if you want to get technical I was at one point in time a millionare, but I don't consider that.

When I didn't tell you is that we started our company, a computer company no less, with 3 computers and $200 dollars.

We didn't do it overnight, we took babysteps.

The first step we took was to get enough money to actually get all of the business startup costs done.. which was around $5,000.

So we worked normal jobs, and saved up until we had $5,000... It took around 5 months but eventually we got it.

After that, we decided we needed to actually sell products... It took us 2 and a half months to sell our first PC.

Then after that, our goal was to sell on average 1 PC a day.

That didn't take two long, around 2 months.

After that, we decided our goal would be to sell enough PC's to were we could quit our day jobs.

that took another 3 or so months, by then we were selling a constant 4 or so PC's a day.

Then our next goal was to save enough money to get our own place.

I ddin't even have time to reach this goal, BECAUSE MY MOTHER KICKED ME OUT THE HOUSE BECAUSE I REFUSED TO GO TO COLLEGE.

So we had to get our own place quicker than we wanted. However, as long as I was livign with my business partner (and we had a nice apartment by the way), never was late for one payment or bill... well the satilliate bill, but I only watched the sapranos so I would just wait until sunday to pay it.

So after that was done, we wanted a building. Another 6 months.

Oh by the way, WE WEREN'T GETTING PAID YET


One day while we were in our building, my business partner came to me and out of the blue, he said "do you realize we turned 200 dollars, give or take, until a company with employees that has over 1 million in revenue"?

Up until then, I can honeslty say I never thought bout it, all I thought about was the next goal.

How did we do it? Hard freaking work. I am nto talking about 4-7 hour days, an average day for me was waking up at 5am to start working, run errands around 11am, come back home at 1pm, work to 12pm, go to sleep. 7 days a week, until my 21st bday, which was around 2 years into our company. The day I hired a secratery, was the day I was able to work somewhat of a normal schedule.

And thoose two years of hard work have done more for me than any am o unt of money could ever do. I KNOW there is NOTHING I can't do, because I had my own mom tell me I am a looser and basically disowned.. now she is "so proud of her baby" because at 22 I make more a year then she ever has (and I grew up in an upper middle class neighboorhood)... wait, that's a lie, my mom made more then me, but I was worth more then she is.


Plus, you appricate things more when you create them yourself.
That $100,000 sports car has a different meaning when you buy it knowing all the blood, sweat and tears that went into getting it.

I went from the age of 18 until a week after I was 21 from having sex for crying out loud! Even going on a date! A funny story is my first date, with my current EX GF of 1 year, was at a Coffee shop right next door to my office, because I wanted to be close if something was to go wrong.


In other words, it's not that making money is impossible, it's just that 99 percent of you have no idea the work, dedication and sacrafice that goes into it, therefore you conclude it's impossible.

The way I think is this... I work now, okay, I don't go out this weekend to that "big party that everyone is going to be at?"... you know what? Everyone that is there is going to be at the next "big party" and in the same financial, emotional and physicall condition as they were at the first one. You aren't missing anything. And when you do decide to have a life, playtime is SOOOOOO much fun when you know how hard you worked to get your playtime. YOu have no regrets.

How many times hav eyou been out and out of the blue, you just don't feel "right"... dont' know why really, but just something isn't right... it's because you know you have something more important that you could be doing.

 

[backbreaker]

just to reinterrate, I am at a point, at 22, because of wise investments that if I wanted to be a lazy freaking bomb for the rest of my life, I don't have to work. Half of the money I got from selling my company, plus a small aprtment complex i bought from my mom that she refused to fix up last year (by saving my money). I rent out all the properties and make a nice income from it. I bought a new car and a new house, and the rest is in the bank. But I do still bring in money, but that's not the point. The point is that A million dollars or 100 million dollars are the same thing if you are going to blow it.

That's why I wasn't really mad that I didn't get what my stock was worth when i sold my shares... I knew I had WAY more than i needed.

 

[SELF-MASTERY]

Originally posted by sifer
I can tell you don't read my threads/posts. Please do. I am not vague or "hiding something".

Yes you are. You had the chance right there to explain what your financial situation

I think you have a good attitude, but your not the one to give advice one real estate, being that you haven't even completed your first deal yet. You have knowledge, but none of it belongs to you. You have the zeal of the unintiated.

 

[sifer]

Originally posted by SELF-MASTERY
Yes you are. You had the chance right there to explain what your financial situation

I think you have a good attitude, but your not the one to give advice one real estate, being that you haven't even completed your first deal yet. You have knowledge, but none of it belongs to you. You have the zeal of the unintiated.

Huh? Where did you get that I didn't even finish one deal?

I've completed one deal with a partner and recently flipped two properties. One got me $104,990.25 (or simply, $100,000) and the other $23,587.00 (or simply, $20,000).

That's three deal in one year.

 

[pimpfromdayone]

backbreaker, while your story is fairly inspiring, it didn't tell us anything we didn't already know. Starting a computer company like that (computers made to order or custom computers or something?) was a great idea, and if I had better knowledge of computers (or could find a partner who did), I would probably give it a try myself. You found a niche and you succeeded, good job. But, your arrogant assumption that "99%" of us "have no idea the work, dedication and sacrafice that goes into it" is just plain wrong. Everyone knows it takes work, or else everyone would be rich. Let me ask you something though, just out of curiosity: why did it cost you $5000 to startup? You mention you sold computers so I assume you bought hardware and possibly software and you put computer packages together? I am asking just because that seems like a lot of money for selling your first computer.... business licensing and crap is basically free. And also, why did you sell your company already? I think that was a mistake, but that's just me, because I would probably get bored pretty quickly without something to do for the rest of my life, unless I was a billionaire or something.

I still have a registered business, the business bank account, all that other crap you need, and some money (only $1000) but am really out of good ideas. I sold a bunch of Ralph Lauren polos on Ebay to try to generate some startup money (still got 30 left), but I have since learned that without mucho moneys, wholesalers just don't want to mess with people like me who buy in small quantities. I did not want to be an Ebay slave for long, and was using it to generate more startup money since I am an unemployed college student, but it just isn't going fast enough, and I need other options that don't involve huge initial investments. I wanted to eventually be a full brick-and-mortar clothing retailer specializing in polo and rugby shirts (find a niche), but with the money I have now, it is basically impossible. I know people getting into real estate, left and right, but I don't know anyone who has gotten rich off of that.... most people who do, as I once again reiterate, started with a lot of money to invest in buildings. Computer sales is really a good idea... Did you find buy your parts (if that's what you bought) at wholesale prices and then put together computers and sell for big profit or did you just buy them in singles and overcharge customers bigtime?

 

[Page]

Originally posted by pimpfromdayone
Bill Gates got lucky as far as I'm concerned.... the idea to create Windows was PURE creativity, it could have never crossed his mind.

Gates didn't create windows, in terms of concept. Sure, Microsoft made the software (to what extent differs on who you ask-- Gates himself admitted that he got some of his ideas for software from some programming code that he found in the trash back in his college days) , but it didn't include anything especially new or innovative that hadn't already been done before. The people who came up with the windows-like interface to begin with was Xerox, back in the 1970s. IBM got the idea from Xerox, and Gates got the idea from IBM.

Gates made it big b/c he had the instincts to see that he had something big. IBM pretty much gave Gates their future on a silver platter when they let him work on the personal computer--- IBM thought that the future was in the mainframe computers that were common in the 1970s.

If there is one thing that Gates was good at, it was selling and marketing a product. Gates was an expert at dealing, and he convinced many computer manufacturers to ship their machines with Microsoft products. Long story short-- the fact that some of us have upgraded our copies of MS windows over the years, from windows 95 to whatever we are using now (effectively buying the same thing again and again) , is why MS is where they are today.



Windows itself really wasn't that good to begin with--- everyone knows how many kinks windows 95/98/ME had. Gates was adept at selling the sizzle, not the steak. It is well known that all the windows before Windows 2000 were built on the same obsolete DOS technology that MS had been using since the 1980s. And no, MS did not create DOS. All windows was before Win2k came out was a colourful interface (that MS bought--or stole, depending on who you ask) that ran on top of the DOS operating system.

All Microsoft has been doing all these years is refurbishing, repackaging, and reselling the same old technology with a few patches and upgrades, while somehow convincing everyone that it is a new product instead of the same old shyt that MS has been selling for years. Now *THAT* is an impressive business accomplishment.

 

[pimpfromdayone]

No, it's not really impressive, considering how 99% of the population knows nothing about computers. It is just a great IDEA.

 

[Page]

Originally posted by pimpfromdayone
No, it's not really impressive, considering how 99% of the population knows nothing about computers. It is just a great IDEA.

Then Xerox deserves the praise for creating the idea to begin with. All Microsoft did was outsell and outpromote its competition with the technology that it got from IBM (which IBM got in turn from xerox) , sometimes with questionable legality.

Where did I learn this? here.
I've been studying it in detail over the past few months while teaching myself about business. It's meant to be a rant, but it actually provides valuable insight into how MS got to where they are today.

 

[STR8UP]

Backbreaker pretty much summed it up.

One thing I disagree with (not really disagree just look at it differently) is when everyone talks about how you have to work 90 hours per week to become wealthy. Hard work isn't what gets you there. It's the SMART work that produces results. Most of us start out working very hard. But once you learn that you can produce in one hour more than you made the entire year before you realize that the HARD work was only a step that you had to take because you were too dumb (and I don't mean that in a bad way) to realize there is a better and faster way.

You know sifer, judging by the content on that little link you have, and the way you talk about "character" and not believing in luck, you sound a helluva lot like someone trying to endorse a get-rich-quick scheme.

First of all, your view of luck has a direct impact on how well you do financially. The more you believe in it, the worse you will do. THE ONLY WEALTHY PEOPLE WHO THINK LIKE YOU DO ARE THE LOTTERY WINNERS. Self made millionaires KNOW better. And there are quite a few more self made millionaires than there are lottery winners.

Secondly, your attitude towards what you call "get rich quick schemes" will reflect on your financial future as well. Sure, you can follow Suze Orman or Dave Ramsey's advice and bust your ass till you are a bajillion years old to build enough money to retire, BUT WHO WANTS TO LIVE A PENNY PINCHING LIFE JUST TO HAVE ENOUGH MONEY TO SURVIVE THE FEW YEARS TILL YOU CROAK??? Not me!

You have NO IDEA what you are talking about when you discount what you see on late night t.v. Most of the infomercials sell the sizzle. they will show you unusual examples and best case scenarios. That's how they sell product. But I can tell you from FIRSTHAND knowledge that pretty much ALL OF THEM can put you on the path to wealth if you are willing to get rid of what you THINK you know about money and learn and practice what you study. Your ignorance and prejudice will either A) Best case- you bust your ass till you are old and then have a few years to relax -or- B) More likely- you bust your ass till you are old and have to continue to work until you can't. Have fun greeting people at Wal Mart when you are too old to do anything else....

Those books are nothing but bullsh-it, because if all you have to do to get rich is read a book and somehow become motivated, everyone would be rich.

Of course, the only ways to get rich are to win the lottery or get "lucky" in business or SAVE, SAVE, SAVE. Looks like you have all the answers!