this is not retirement, this is good and old fashined work: investigating investment options. i.e. you network, look for best deals, best people, less risk, better roi, etc. etc.
How to retire at 30 on $1 million
121–128 of 128 posts
Re: How to retire at 30 on $1 million
#122It seems like a matter of philosophy. There are going to be distinct advantages and disadvantages with any investment philosophy you wish to make your own. The real question is what are your long term goals? This is how I see real estate investment. PROS - After paying off the mortgage you can still sell the house for its current value. If you select wisely, this is an additional investment. - Monthly income that is…
I think a good read of "Rich dad, poor dad" would do many good on the philosophy end of things. His point is to define "rich" as having your assets (which he defines as investments that produce income) produce enough income to cover your expenses. As soon as you reach that point, you can quit your day job and focus on managing your assets. The point about redefining the meaning of asset is a good one - real-estate is…
http://www.johntreed.com/Kiyosaki.html
Kiyosaki might have some good nuggets of general wisdom in his book, but he is one of those whose actual success is based on book sales, not other business(real estate, investing, etc.).
Re: How to retire at 30 on $1 million
#123all [he] ever did was smash up things and creatures and then retreat back into their money or their vast carelessness . —Fitzgerald, The Great Gatsby I think I recently drove by a sign on the road that said this too. It was right next to another sign that read "Make Money Fast", and another sign that said "Get Rich Working from Home." However, a much wiser man than I once said: TANSTAAFL. Now I know this is gonna get…
I'll add that for each rich person there must be an army of people working to feed this rich, clean his toilets, repair his cars, tend his gardens, so there is a definitive limit to the number of rich lazy bastards the society can support.
Then you may realize that you don't really want to be even more exploitative towards other people by being living a more wasteful way-of-life than you already do.
Re: How to retire at 30 on $1 million
#124all [he] ever did was smash up things and creatures and then retreat back into their money or their vast carelessness . —Fitzgerald, The Great Gatsby I think I recently drove by a sign on the road that said this too. It was right next to another sign that read "Make Money Fast", and another sign that said "Get Rich Working from Home." However, a much wiser man than I once said: TANSTAAFL. Now I know this is gonna get…
Ouch. Strawman attack. I want to get rich for several reasons.
* I don't want to think about money
* I want to be able to chose stuff to work on
* I want some expensive things, like learning to fly and moving out of my country
To get rich, I'm trying to create value by writing useful/entertaining software.
Is there something wrong with me? It's not that HN is full of lazy wishful thinkers who just want to get rich so that they can go insane with a new Maserati every week. We just want to get some more freedom and a safety net, and are willing to work hard and create value.
This particular article is more of a thought experiment than a pratical investment advice. Very few if any startup-culture people will spend their money this way. Most will spend it to pay off debts, start new companies, maybe invest in others' startups, buy a new car.
Re: How to retire at 30 on $1 million
#125all [he] ever did was smash up things and creatures and then retreat back into their money or their vast carelessness . —Fitzgerald, The Great Gatsby I think I recently drove by a sign on the road that said this too. It was right next to another sign that read "Make Money Fast", and another sign that said "Get Rich Working from Home." However, a much wiser man than I once said: TANSTAAFL. Now I know this is gonna get…
I don't want a new car. It's 25 years old, and I wouldn't mind replacing the ratty, decaying upholstery. My house is great, but could use some repairs.
I've got a wife and four kids, and if I didn't have to work I wouldn't have this ten hour hole in my day where I can't spend time with them. And, you know, time for learning a new language. Or, maybe, a hobby. I could play catch with my kids instead of fixing the washing machine.
It's about the time.
Re: How to retire at 30 on $1 million
#126Earlier quoted context omitted.
In California, Proposition 13 limits (among other things) reassessments to when the property changes hands or when there is new construction. Opinions vary on whether it's a good seal for the state. It's a great deal for me, though.
Doesn't it make it difficult to sell homes in high cost-of-living areas? Seems like you'd be taking a hit in the sale price to reflect the increased property tax burden on the new owner. I don't know whether you come out ahead, but it's probably more likely the longer you live there.
What it does do is create incentives for people to remodel extensively--keeping just a fraction of the house intact so it's legally not new construction--rather than move.
Re: How to retire at 30 on $1 million
#127all [he] ever did was smash up things and creatures and then retreat back into their money or their vast carelessness . —Fitzgerald, The Great Gatsby I think I recently drove by a sign on the road that said this too. It was right next to another sign that read "Make Money Fast", and another sign that said "Get Rich Working from Home." However, a much wiser man than I once said: TANSTAAFL. Now I know this is gonna get…
I'll add that for each rich person there must be an army of people working to feed this rich, clean his toilets, repair his cars, tend his gardens, so there is a definitive limit to the number of rich lazy bastards the society can support. Then you may realize that you don't really want to be even more exploitative towards other people by being living a more wasteful way-of-life than you already do.
I've read that at the height of the French monarchy right before the revolution, a disproportionate number of labor was being employed in textiles to create the extravagant, lavish and enormously expensive dresses for the royal court. We're talking like 25+% of what we would call their GDP. (If you really want to understand capital, wealth & labor in terms of the bigger picture, I highly recommend skipping the baseless, mostly fictional "modern" econ textbooks, and go read some political economy history books. The more thing changes, etc, etc)
Your point hits right to the heart of the matter. And it's why I utterly despise the rich so much. When I look out on the world, I don't see what is actual, rather I see all the lost potential(opportunity cost). It's heartbreaking. And it's not just how much wealth they take—it's also how much resources they divert from the natural ebb & flow of capital to support their meaningless, empty, wasteful lifestyles. And all for no practical reason other than keeping up with the Joneses. Meanwhile people are starving and killing each other in ghettos not 10 miles away.
It's funny how such a stat like the French textiles leaps right out in historical hindsight, yet every era of human history has it's own economic sinkhole into which the rich and the powerful throw societies collective wealth. I suppose for the present day US, instead of lavish dresses for the royals, it's lavish military spending for the gravy-train DoD fucktards. (We'll hit a $1 trillion defense budget in less than 5 years! If that doesn't make you want to take to the streets with a molotov, then nothing will). They don't realize it yet, because they are all narrow minded pigs blinded towards their own trough, but their economic parasitism will inevitable trigger another revolution in America. Malcom X's proverbial chickens will indeed come home to roost, and it's going to be simple, unsustainable economics that triggers it. Archaeologists will dig us up in 1,000 years and wonder why we couldn't see the pattern.
Wealth = Exploitation.
QED, bitches. If this belief makes me a radical socialist, so fucking be it! I know I'm right from a high level perspective.
Re: How to retire at 30 on $1 million
#128Earlier quoted context omitted.
I'll add that for each rich person there must be an army of people working to feed this rich, clean his toilets, repair his cars, tend his gardens, so there is a definitive limit to the number of rich lazy bastards the society can support. Then you may realize that you don't really want to be even more exploitative towards other people by being living a more wasteful way-of-life than you already do.
I've read that at the height of the French monarchy right before the revolution, a disproportionate number of labor was being employed in textiles to create the extravagant, lavish and enormously expensive dresses for the royal court. We're talking like 25+% of what we would call their GDP. (If you really want to understand capital, wealth & labor in terms of the bigger picture, I highly recommend skipping the basele…
> If that doesn't make you want to take to the streets
> with a molotov, then nothing will.
> If this belief makes me a radical socialist, so fucking
> be it!