Forums / Property Investing / General Property / How RICH ! Do You Want To Become ?

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  • Profile photo of Still in SchoolStill in School
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    Hi Techa,

    thanks for your email…

    please note though, while those options were down at end of day trading… (and entered on, very fine T/A entry points), you can see in the next day of trading… those option positions are in a very nice, profit position.

    though will keep you posted, as those positions further progress.

    Cheers & Thanks,
    sis

    Wanna Talk About Stocks

    Profile photo of wealth4life.comwealth4life.com
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    O.K SIS how many trades a day are you doing?

    Phil

    Profile photo of Still in SchoolStill in School
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    Hi ResidentialWealth,

    it varies, average i guess 4 a day, other days, no trades, some times fast moving stock like HTA and OEX, 6+ trades in the hour.

    but usually if a position is sold and exited out, its usually replaced at the same time, or later that day.

    Cheers,
    sis

    Wanna Talk About Stocks

    Profile photo of wealth4life.comwealth4life.com
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    To generate a $2,000.00 income per week at 5% you need a cryitical mass of $4,000.000.00 dollars.

    any comment ?

    One day your day will come when this has more meaning, some people get there quickly and other people are still trying to work out what the fuss is about, but one day your day will come.

    Heed the roar of the distant drums !!!

    Profile photo of Still in SchoolStill in School
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    lol.. i dont think thats still enough…

    how.. much is Trump spending…?

    Cheers,
    sis

    Wanna Talk About Stocks

    Profile photo of NaughtyJonnyNaughtyJonny
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    Originally posted by residentialwealth:

    To generate a $2,000.00 income per week at 5% you need a cryitical mass of $4,000.000.00 dollars.

    any comment ?

    Probably about right, I reckon. 5% of $4M = 200K per year. So, that’s about half to supply your income and the other half to “maintain” the capital so that your $2,000 per week stays at a constant indexed rate over time.

    Profile photo of greenjoygreenjoy
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    IT would be brilliant to have enough money so you wouldn’t have to sell your time to others and do the things in life you truly love to do…in my case being able to give money away to charity would make me very happy…actually we donate 10% of our profits to environmental groups now..do many other investors out there make donating/tithing a standard thing that they do? IT FEELS SO GOOD!!![biggrin]

    Profile photo of Still in SchoolStill in School
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    Hi Greenjoy,

    i dont really tithing, but instead.. its a very important habit for me to donate coinage… at every donation box, or charity stand… yet i try to do this very consistenly always.

    Cheers,
    sis

    (though yes it does feel so good, but on a karma level it feels great!)

    Wanna Talk About Stocks

    Profile photo of high flyerhigh flyer
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    Originally posted by greenjoy:

    IT would be brilliant to have enough money so you wouldn’t have to sell your time to others and do the things in life you truly love to do…in my case being able to give money away to charity would make me very happy…actually we donate 10% of our profits to environmental groups now..do many other investors out there make donating/tithing a standard thing that they do? IT FEELS SO GOOD!!![biggrin]

    Hi greenjoy,
    Congrat for your outstanding habits.[thumbsupanim][thumbsupanim]
    Hmmm…. You are donating 10% of your profits, what would be your profits if your total donations were $1,000,000.00?

    Leon

    Profile photo of techatecha
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    Oh please!!

    Sickening!

    Those serious about charity NEVER talk about it.

    Those who do(Talk about it) tend to need their ego’s massaged.

    The worlds full of ‘would be’s’

    tech

    Humans are the DUMBEST of creatures.
    They do the same thing day in day out and expect a DIFFERENT result.

    Profile photo of SuperTedSuperTed
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    LoL Techa, exactly what i was thinking…..

    except Im glad you were the one that threw the “spanner” ;-)

    “Nevr argue with an idiot, as they will bring you down to their level and beat you with experience”

    Profile photo of MiniMogulMiniMogul
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    “Those serious about charity NEVER talk about it.”

    I hear ya cause then are you giving for giving’s sake or cause you wanna show off?

    But then again I never considered, remembered we were supposed to, or had it occur to me to give ten percent away to the community until I read the One minute millionaire recently.

    So I am glad that the book ‘talked about it’.
    In a funny sort of way wealth creation is linked to the ability to give. Ask a poor person to give ten percent to a charity and they will tell you they can’t afford it. Their spending is 100 percent of what they earn, they are broke.

    However the irony is that if the person learned to live on 90 percent in order to give 10 away they would then realise they could actually live on 70 percent and invest the rest for a compounding return. Then they would become rich, giving an ever-increasing amount to charity.!

    ah, musings late at night…

    joy to the world

    Profile photo of wealth4life.comwealth4life.com
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    What is poor and what is charity, two words that are thrown around too easily in my view, same as RICH, most people don’t even know what RICH is.

    People who give to charity are gutless, people who work in and support charity should be admired. Before you shoot me for that comment how many gurus brag about donating money, its like oh ok here have some money now leave me alone until next year, oh by the way tell a few people about what I did – give me a break !!

    Once again if you want to get Rich or become financially independant go and get Wallace De Wattles book (1904) The Little Green Book and have a read.

    This post has attracted 2000 hits and only two people have come close to a sensible answer, what a shame – remember 95% of people retiring in Australia will retire worse off than when they were working, and its getting worse !!

    Let me help you – you don’t need to acquire 100 properties so don’t feel like a failure if you end up with one or two paid off by the time you are 60 or so.
    Statistics tell us that if the average Aussie (any nationally) ends up owning their house and one quality investment property plus a little super and other savings that they will be in the top 5% at retirement or;

    $1.5 million dollars of assets not including the value of the family home now;

    Its YOUR choice just how rich and happy YOU become but all you really neeeeeeed to know is what the miminum standard is as a personal target, oh if you don’t believe me go ask 50 65year olds or go visit a retirement village and do some surveys.[baaa]

    Profile photo of lukis plukis p
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    Profile photo of wealth4life.comwealth4life.com
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    Hi Lukis – you want to what – how old are you ????

    Profile photo of high flyerhigh flyer
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    Ya.. What is rich and what poor? What are charity and what are not? And what is morality for that matter?
    In some households( or cultures), it’s a taboo to talk about money openly, let along about personal wealth! But this seems to be an acceptable practise and is encouraged here. We are doing it because we believed we should all try to achieve our personal best.
    One of the forumites make a timely reminder that sometimes Richness and Happiness are not somethings you can acquired materialistically rather these can be achieved by donating to charity regardless of your wealth. Based on this alone, I think the notion should be encouraged and not condemned. Ooops! it’s [offtopic].[strum]

    Profile photo of PropertyInvesting_2PropertyInvesting_2
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    “What is enough, just a little more.”[biggrin]
    Harry Oppenheimer[cigar]

    http://www.property-portfolio-services.com

    http://www.property-portfolio-services.com

    Profile photo of jsprijspri
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    hi all, i think i have a modest goal – to take over the world. [biggrin]
    But seriously i wish to have more money and power then anyone not only to serve my own purposes but to be able to give most of it away to ppl who can’t create wealth. I’m only 18 so have a long way before i reach a big milestone in that journey. And if i fall a little short of that goal, i’d be happy ;).

    Profile photo of wealth4life.comwealth4life.com
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    Hi jspri

    It’s a shame your goal lacks clarity so i hope you get some – have you read The Richest Man in Babylon??

    or;

    You Don’t have to be Born Brilliant by John McGrath ??

    I read sooooo many replys on the site from young people who have no idea or take seriously the importance of clearifying certainity.

    another good book is “Awaken The Giant Within”[cap]

    Profile photo of petebellpetebell
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    To me, being rich is not a financial goal it is a life goal, something that you cannot attain by owning heaps of houses, it is a deep satisfaction that you what you are doing/ have done is valuable. That may come from the relationships that you have built over the years. It may come from giving to charity, it may come from buying the rainforests so that they can be preserved forever.

    To me TIME is the most valuable commodity. It is absolutley finite and you cant measure how much you have left, you can only look back and see how you have spent it.

    When I was 22 I nearly died from cancer. At the time I thought I was invincible, new car, new girlfriend, new job, everything was cruising along. Until… Brian Tumor, operation in 2 days. That gives you enough time to say your good-bys and really reflect on your life so far. That is when I had a massive shift in my paradigm. I dont want to give my life away to some idiot boss who can replace me within a week, I want to spend the time that I have got, and nobody knows how much they actually have, with the people I love. Steve talks alot about PASSION, and what it is that drives you. If all you are after is a boat and a holiday, fine, but I am seeking to regain my life.

    If you figure that between the age of 15-70 you have about 20,000 days, I dont want to waste another. I want to, as Kiyosaki puts it, “get out of the rat race”. That is my goal. For my passive income to be greater than my expenses, which will give me back my time. I dont want to “be rich”, I need to get a passive income of $50,000pa to cover my expenses. I wont stop there, but this is my first goal. I have about 30 pages of goals written down, that cover shares, property, business, options, how much I need and by when, and what I am going to do with the time I have bought back.

    The goal I set after my operation was to own my own home by 30 (no debt), and everybody put me down and said I was crazy for even trying. some people implied that I had been ‘adversly affected’ by my illness. It was very hurtful that even my family tried to put me ‘back in my box’. I can still achieve this goal, although it is looking shaky, but my goals have somewhat changed in recent years as I have learnt more about finance and investing and how owning your own palce outright would be great but Steve would call it lazy money, but my new goal, from a few years ago is “FREE BY 33” in other words to be out of the rat race by age 33, and I have no doubt that I will achieve it, before time is up.

    I believe that happiness cannot be bought, moreso happiness is the absence of problems, and money solves problems, and so money is therefore nothing more than a means to an end.

    I hope that this touches a few people, it was hard to write it

    Pete

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