Teach your children to quit working. - TBD2024-03-29T13:18:18Zhttps://teebeedee.ning.com/forum/topics/teach-your-children-to-quit?commentId=1991841%3AComment%3A1053227&x=1&feed=yes&xn_auth=noLife hangs around longer if y…tag:teebeedee.ning.com,2010-09-12:1991841:Comment:10532272010-09-12T03:43:09.788ZCWO3ROBBIEhttps://teebeedee.ning.com/profile/CWO3ROBBIE
Life hangs around longer if you only do it one day at a time.<br />
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Hi, WL
Life hangs around longer if you only do it one day at a time.<br />
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Hi, WL That makes sense..tag:teebeedee.ning.com,2010-09-11:1991841:Comment:10531262010-09-11T18:09:11.610Zdarrollhttps://teebeedee.ning.com/profile/darroll
That makes sense..
That makes sense.. Livestock is good too. Right…tag:teebeedee.ning.com,2010-09-11:1991841:Comment:10530272010-09-11T03:28:56.865ZAggiehttps://teebeedee.ning.com/profile/Aggie
Livestock is good too. Right now is Cows are high, but if they go down you can always eat your stock.
Livestock is good too. Right now is Cows are high, but if they go down you can always eat your stock. Some of the utility stocks pa…tag:teebeedee.ning.com,2010-09-10:1991841:Comment:10529212010-09-10T20:09:33.039Zdarrollhttps://teebeedee.ning.com/profile/darroll
Some of the utility stocks pay pretty good return on your money. And it’s about as safe as safe is.<br />
For about $30000 you can get about $400.00 every three months. This will help with the bills and you still have your thirty grand. The value of the stock can also go up/down?
Some of the utility stocks pay pretty good return on your money. And it’s about as safe as safe is.<br />
For about $30000 you can get about $400.00 every three months. This will help with the bills and you still have your thirty grand. The value of the stock can also go up/down? Dallas, Good clear thinking a…tag:teebeedee.ning.com,2010-09-10:1991841:Comment:10527862010-09-10T12:47:34.936ZCWO3ROBBIEhttps://teebeedee.ning.com/profile/CWO3ROBBIE
Dallas, Good clear thinking as usual.<br />
I started college at age 17. I received my BA at age 44. In between I had a couple years trying to get rich in the late 50s uranium boom, 22 years in the army and over 150 semester hours of college credit and many hours of training in subjects dear to the military. I also had numerious part time and full time jobs. Probably the most benificial was training to be an instructor in the military and subsequent experience as an instructor on the staff of that…
Dallas, Good clear thinking as usual.<br />
I started college at age 17. I received my BA at age 44. In between I had a couple years trying to get rich in the late 50s uranium boom, 22 years in the army and over 150 semester hours of college credit and many hours of training in subjects dear to the military. I also had numerious part time and full time jobs. Probably the most benificial was training to be an instructor in the military and subsequent experience as an instructor on the staff of that course. That is what I mean by accident. I did not enter that course with the idea of staying there as an instructor. But the opportunity occured and I grabbed it. That experience gave me the platform for success in many othe endeavours. In my humble estimation, the purpose of education is twofold. First, to open the doors to opportunity, and second, to enable you to have a chance at choosing the right door. A graduate degree is only necessary if what you want to do requires one. But, if you can get one without piling up enormous student loans, it never hurts to have one.<br />
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Right now, at 73 years old, I am headed to Colorado to attend Bicycle Mechanic training. Why? Because I want too.<br />
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So, I echo your advice. Always seek to learn. Avoid unmanageable debt. Try to find a way to do things that you enjoy. Help others along the way. That approach will probably give you a very good chance to live a good life. At 114 I would need every pen…tag:teebeedee.ning.com,2010-09-10:1991841:Comment:10527772010-09-10T06:22:24.569ZDallashttps://teebeedee.ning.com/profile/Dallas
At 114 I would need every penny of it.
At 114 I would need every penny of it. If you had bought one share o…tag:teebeedee.ning.com,2010-09-10:1991841:Comment:10527752010-09-10T06:00:05.806ZAggiehttps://teebeedee.ning.com/profile/Aggie
If you had bought one share of stock in my bank 99 years ago it would be worth about a million today.
If you had bought one share of stock in my bank 99 years ago it would be worth about a million today. Chief, you are absolutely rig…tag:teebeedee.ning.com,2010-09-10:1991841:Comment:10527642010-09-10T05:41:39.494ZDallashttps://teebeedee.ning.com/profile/Dallas
Chief, you are absolutely right. Wasn't it Dave Gardner who said, "I don't believe in accidents, I believe in premeditated carelessness." ? In much the same way, I don't believe in luck: I believe in premeditated opportunity.<br />
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Happiness is sublimely personal. All the same, I've never known a debt-ridden person who was happy.<br />
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Like you, I think we should follow our interests. I'll gladly pay others to sharpen my knives, but I care nothing about getting near a grindstone.<br />
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Your point about safe…
Chief, you are absolutely right. Wasn't it Dave Gardner who said, "I don't believe in accidents, I believe in premeditated carelessness." ? In much the same way, I don't believe in luck: I believe in premeditated opportunity.<br />
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Happiness is sublimely personal. All the same, I've never known a debt-ridden person who was happy.<br />
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Like you, I think we should follow our interests. I'll gladly pay others to sharpen my knives, but I care nothing about getting near a grindstone.<br />
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Your point about safe investments having lousy yields is absolutely right. That's why this advice is for very young people - children still at home - instead of others. No one who has already taken on social or moral obligations like marriage or child care should ever put anything before those things, in my opinion. This includes not taking the high risk inherent in situations that have the possibility of high reward. However, there are plenty of ventures that return much more than 3%.<br />
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For example, a solid pizza parlor will make 17% GPM, a really good location will turn 20% GPM. You do need an education, but you don't need a degree to run a pizza store. A 17% return doubles your investment in a little over 4 years. So, here we go...<br />
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<b>GUIDING PRINCIPLE: Never stop learning, especially when you are not in school.</b><br />
Age 17-20: get educated (not necessarily in college), live at home, pay cash for your stuff, start your business by asking, as you suggest, "What interests me?" Remember, you can have a business partner. Spreading risk is not a bad idea.<br />
Age 21-26: do not live a miserable grindstone existence, but do not buy luxuries on credit either. Expand your business and get involved with other investors. If you left home with a going concern and $10,000, you should have $22,000 plus the salary draw from the business at age 26.<br />
Age 27-35: Keep learning, seek other investments. Spread it out. Some will fail, but some won't. Keep pushing your original business meanwhile.<br />
Age 35-50: repeat as needed. The math is tedious, but you end with enough cash to be a "sophisticated investor" in the IRS-defined sense at 50, which opens new higher-risk, higher-rewards doors for you.<br />
Age 51: You've had 30 years of experience and education. Put it to work looking at deals. You will be used to the swing by now. Losing $300K won't bother you, and making $1.1M won't drive you to dangerous excesses . Back off the high-risk stuff as you get older, but don't abandon it entirely. Dance more, march less.<br />
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I hope everyone reads your advice about cheap education. Once I graduated I never even thought about post-grad...talk about a grindstone, that would have been one for me. However, I have taken at least another 35 sem/hrs of courses in everything from welding to British Lit at various community colleges. I'm not even counting the seminars and Continuing Ed over the years. You are right about education: it's a lift to the spirit and the brain.<br />
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I would only add that there's training, and then there's education.<br />
My grandmother taught me to play Gin Rummy: that was training.<br />
Then she won all my lawn-mowing money: that was education. Dallas, old friend. You do pu…tag:teebeedee.ning.com,2010-09-10:1991841:Comment:10527532010-09-10T03:26:06.894ZCWO3ROBBIEhttps://teebeedee.ning.com/profile/CWO3ROBBIE
Dallas, old friend. You do put up some interesting posts.<br />
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I contend that life is a series of accidents. I'm not rich by anyone's standards. But I think I have a good chance of continuing to live a pretty good life as long as my health holds up. I'm in pretty good shape fiscally and physically, but I didn't get here by putting my nose to the grindstone and living in misery. I persued what interested me. Or, in some cases, what I thought would provide the most interesting life.<br />
All of your…
Dallas, old friend. You do put up some interesting posts.<br />
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I contend that life is a series of accidents. I'm not rich by anyone's standards. But I think I have a good chance of continuing to live a pretty good life as long as my health holds up. I'm in pretty good shape fiscally and physically, but I didn't get here by putting my nose to the grindstone and living in misery. I persued what interested me. Or, in some cases, what I thought would provide the most interesting life.<br />
All of your advice is very good. Probably as good as any. However, I'm sure there are many other paths to take that could work out in the end. It always depends on what others do. One of your tags is "happiness". How many people would be happy living the way you advise?<br />
I would advise people that if they do not have a dream, If they do not know what they want to do in life, go to school as long as possible. Education is never a waste. However, get your education on the cheap. Go to community college. Join the military and go on the GI Bill. Always look for the cheap way to learn. Education is how you find out what you want to do. Investing is very important, but so is engaging in activities that interest you. You are unique. Do what interests you.<br />
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Let's take a look at Dallas opening thoughts. $200,000 in salary would pay more taxes than Long Term Capital Gains. However, Most of todays safe investments pay 3% or less. To make $200,000 at 3% you would need to have $6,666,666 invested. Where did that come from?