quote:Very solid pro tip... But be careful about talking about $5 white chocolate mocha lattes around this place. Some won't make the connection... I forever have seen the chart of compounding interest you are talking about with this reference... Besides, that $5 each day has no value. It's just "play money"...
Originally posted by Richard Beer FrothRBF believes 2N needs to seek counsel from Suze Orman… It all starts with Coffee… Just another pro tip…
RBF
quote:It's not a "gotcha"? Did I set some sort of trap for you? Maybe you should have used that "power of intuition" to see that I am making a point... Let me spell it out for you...
Originally posted by SchoolsOut1ohhhh, another “gotcha” lol
Play money, via the power of intuition, leads me to believe it’s not a core holding that he is necessarily trying to preserve (although, he would like to double it). Anyways, meeting a guy at the farm tomorrow to look at a field we are clearing if you ain’t doin’ nuttin’. Gonna plant for doves this year, hopefully.
Rich people don’t use the term “play money”. The term “play money” is attached to money that you want to speculatively swing for the fences with. It’s a psychological label that you attach to talk yourself out of more “boring” and prudential investment strategies, so that you don’t feel the guilt of putting your money into something more risky. But if DoubleN has $100K or $1M to “play with”, I can promise you that if he loses it in a speculative investment, it won’t feel like “play money” then… It will hurt.
As we know, Mark Cuban is a billionaire. I’ve seen him turn down investments on shark tank (yes, I realize it’s just a dumb tv show) that were literally like $20K. He prints that much money half way through a long fart… If we were Mark Cuban, we might be tempted to label that money as “play money” but for some reason he is not interested in those sorts of speculative investments… Why not? Well, it’s a matter of how people perceive money… Again, I bet he doesn’t use the word “play money” much, unless he is talking about buying a new toy.
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Originally posted by SchoolsOut1You’ve attempted a few “gotchas” here…I simply cherry picked a chart/date like you did in the other thread and it sure does appear to me that gold has been the place to be for a while…
Again, you brought my name into this discussion and challenged me personally in doing so. I respond and it’s a “gotcha”?
Secondly, a “gotcha” involves me setting a trap for you. I haven’t even asked you any questions or tried to “lure you” down any path. All I have done is post historical references to gold and tell the thread a bit about history. If that’s a “gotcha” in your mind, then you are just paranoid. Simple as that…
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Anyways, check back with me a little later on in life and we'll compare notes/performance. :)
That sounds a little boastful. It’s also not very prudent considering you want to compare your X with my Y and you don’t even know what my Y is…
That being said, I truly believe that both my Y and your X were simply results of blessings from God. If God wants your X to be bigger than my Y in 10 years, then there isn’t anything that you or I can do about it. Simple as that. My responsibility is to just to work hard and be content with what I have.
That being said, I was blessed with an 800+% on a single investment this year. Pretty much 0 risk. It wasn’t in the stock market though… I finished out 1100 sq ft of attic space for about $30-40K. The appraised value on that 1100 sq ft is $225 sq ft. You can do the math on that, but that’s a pretty solid return with the stroke of a pen… Moral of the story… Stock market isn’t the only pl
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Originally posted by skinneejquote:
Originally posted by SchoolsOut1You’ve attempted a few “gotchas” here…I simply cherry picked a chart/date like you did in the other thread and it sure does appear to me that gold has been the place to be for a while…
Again, you brought my name into this discussion and challenged me personally in doing so. I respond and it’s a “gotcha”?
Secondly, a “gotcha” involves me setting a trap for you. I haven’t even asked you any questions or tried to “lure you” down any path. All I have done is post historical references to gold and tell the thread a bit about history. If that’s a “gotcha” in your mind, then you are just paranoid. Simple as that…
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Anyways, check back with me a little later on in life and we'll compare notes/performance. :)
That sounds a little boastful. It’s also not very prudent considering you want to compare your X with my Y and you don’t even know what my Y is…
That being said, I truly believe that both my Y and your X were simply results of blessings from God. If God wants your X to be bigger than my Y in 10 years, then there isn’t anything that you or I can do about it. Simple as that. My responsibility is to just to work hard and be content with what I have.
That being said, I was blessed with an 800+% on a single investment this year. Pretty much 0 risk. It wasn’t in the stock market though… I finished out 1100 sq ft of attic space for about $30K. The appraised value on that 1100 sq
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Originally posted by SchoolsOut1Not sure why you think I believe stocks and bonds (or the precious) is the only place to invest,
Never said you said that. Just making a point on an open discussion. You wanted to “compare” returns in “a few years” and I’m just trying to remind you that I have other investments right now that you need to consider that are a part of my return… I’ll probably be focused on RE for the next 10 years or so. So, maybe you do beat me in the market. That’s not where I am investing new money right now.
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but if you'd like to suggest to the OP that he does a bit of developing or dabbling in RE to double his money over the next 7 years, then by all means...
Again, I had an 800% increase in 1 day… Maybe there is an opportunity laying around like that for him. Lot’s of people have attics.
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yet you think it is boasting.
No, I think it’s boasting because it was a boastful comment… You didn’t ask me to check back with you to see how gold has performed. You asked me to check back with you to compare my performance against your performance, as if you had the ultimate confidence that you would “beat” me… That’s boastful…
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Good God, man...you really do try too hard sometimes.
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Listen to what RBF is saying… You double over Suze Ohhman… You are set for life… Just feed her a bunch of bad things like eggs and bacon, that crap popcorn waxy stuff in the movie theaters and just let time take care of itself… AND BAM… You are set for life…
RBF
quote:Appreciate the invite, but I'm hunting the waterfowls in the morning. I hope you get a slammin' dove field together... I do pay money to hunt :wink: and would like to kill some of your doves to help with overpopulation of course.
Originally posted by SchoolsOut1Anyways, meeting a guy at the farm tomorrow to look at a field we are clearing if you ain’t doin’ nuttin’. Gonna plant for doves this year, hopefully.
Get a room.
“Apathy is the Glove into Which Evil Slips It’s Hand”, but really, who cares?
You guys need to start watching the house flippers a on TV, according to them it easy money! I can’ beleve they let them show that type of program!
quote:I'm not talkin bout flippin! Talking about my own house!!!
Originally posted by boatpoorYou guys need to start watching the house flippers a on TV, according to them it easy money! I can’ beleve they let them show that type of program!
But yeah those shows are fun to watch!
I was in the construction buisness for 45 years and never seen that much money made by any one rebuilding house! Must have been my overhead!
quote:Again, didn't rebuild a house... Finished out an attic... Added 1100 sqft of heated and AC space to my residence. Needed sheetrock, some minor framing, some electrical fixtures, and some 99 cent carpet, 4 doors, 1 more AC unit.
Originally posted by boatpoorI was in the construction buisness for 45 years and never seen that much money made by any one rebuilding house! Must have been my overhead!
House was appraised at $224 sqft.
Again, I only bring it up because not all “investments” are in the stock market. It was a reminder to Schoolsy that increasing your net worth is how you measure your performance which can be done in a number of ways.
Which reminds me… DoubleN, if you have any high interest debt, then that’s a good move for money too… I wouldn’t be in a hurry to pay off anything with 3% interest rates, but if you have any CC’s or other debts that carry something north of 5% I would be using any “extra” money to kill those.
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Originally posted by skinneejquote:Again, didn't rebuild a house... Finished out an attic... Added 1100 sqft of heated and AC space to my residence. Needed sheetrock, some minor framing, some electrical fixtures, and some 99 cent carpet, 4 doors, 1 more AC unit.
Originally posted by boatpoorI was in the construction buisness for 45 years and never seen that much money made by any one rebuilding house! Must have been my overhead!
House was appraised at $224 sqft.
Again, I only bring it up because not all “investments” are in the stock market. It was a reminder to Schoolsy that increasing your net worth is how you measure your performance which can be done in a number of ways.
No reminder needed…don’t you know our farm is a tree farm? There are other things I dabble in here and there as well, besides equities/paper markets.
I posted about my opinion on how to double one’s money…and did not say it was the only way, but someone here took it that way. 
quote:Again, I did not "take it that way"... My comment was made in direct response to your "let's check back in and compare our personal performance\results in the future" remark.
Originally posted by SchoolsOut1I posted about my opinion on how to double one’s money…and did not say it was the only way, but someone here took it that way.
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Originally posted by skinneejquote:Again, I did not "take it that way"... My comment was made in direct response to your "let's check back in and compare our personal performance\results in the future" remark.
Originally posted by SchoolsOut1I posted about my opinion on how to double one’s money…and did not say it was the only way, but someone here took it that way.
10-4
There’s also a cell tower that sprouted up on the farm, too…that was more luck than anything else, though
quote:You own the farm or your parents? I'm not counting my parent's net worth as my own investment.
Originally posted by SchoolsOut110-4
There’s also a cell tower that sprouted up on the farm, too…that was more luck than anything else, though
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Originally posted by skinneejquote:You own the farm or your parents? I'm not counting my parent's net worth as my own investment.
Originally posted by SchoolsOut110-4
There’s also a cell tower that sprouted up on the farm, too…that was more luck than anything else, though
Part owner…all legal/contractual obligations need my sig on the docs…but, more to your point, it was inherited land (raw land with nothing on it, but a small house my dad sold to the neighbors).
Ok. Nothing wrong with inheritance at all. Just doesn’t count for THIS particular excercise.
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Originally posted by skinneejOk. Nothing wrong with inheritance at all. Just doesn’t count for THIS particular excercise.
Wasn’t gonna count that…going to take longer than 7 years for the pines we re-planted anyways…
The chestnut crop will be spectacular in another few years, though, but the deer will probably eat all those up.
Edit to add…the OP is talking about 401k investments so I’m just rolling with stocks, etc. for this exercise.