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Old 08-29-2010, 07:22 AM
 
106,059 posts, read 108,015,953 times
Reputation: 79628

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boy that had to be one crappy speculation to have 30k today. i certainly wouldnt have called that investing. you could have done nothing but bought an index fund and had a million bucks. in fact fidelitys worst performing mutual fund would have given you 3x that.

no question if you can get your own business going there are lots of advantages...but the investing part is still something to do so your money works for you passively even while actively managing your business.

good planning is not an either or case . passively earning money and actively earning money work together .

owning commercial property or any rentals is not passive. thats a profession unto itself to really do it well.... we are liquidating our family owned real estate holding company the last few years just for that reason.. after 25 years as a landlord its not something i would ever want to do in retirement. to much grief ,aggrevation and input required to call it passive investing.
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Old 08-29-2010, 07:56 AM
 
2,714 posts, read 5,343,987 times
Reputation: 6213
Quote:
Originally Posted by mathjak107 View Post
boy that had to be one crappy speculation to have 30k today. i certainly wouldnt have called that investing. you could have done nothing but bought an index fund and had a million bucks. in fact fidelitys worst performing mutual fund would have given you 3x that.
No sense kicking the guy. Geez.

There are people for whom starting a business of any kind is just not in them. Those who have the ability to do so can't seem to wrap themselves around that fact but it exists and the those with a business-bent think those who don't are lazy, unmotivated and whatever else. It's just not necessarily true. Some people work best under direction, not manning the wheel. It doesn't make them stupid or bad.
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Old 08-29-2010, 08:21 AM
 
106,059 posts, read 108,015,953 times
Reputation: 79628
huh? we are both referring to the merryl lynch guy who took 100k of his and put it in bad speculative stocks. read what darstar wrote again.
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Old 08-29-2010, 09:56 AM
 
Location: Victoria TX
42,579 posts, read 86,694,851 times
Reputation: 36642
Quote:
Originally Posted by wheelsup View Post
Well first I never said that you wouldn't fail. Second I said "low" risk not "no" risk. Third I never said you wouldn't have to put some money into your business. Forth I never said you wouldn't have to go out and buy tools/hardware. And fifth I never said everyone had a knack for marketing and sales.

If you aren't a self starter you will get exactly what you put into this world.
Then you agree with me. My original objection was to this general advice, directed at everyone, and I still object to it, for the reasons that I am getting tired of reiterating, but thank you, you've stated them yourself..

Quote:
Originally Posted by darstar View Post
...Bottom line , start your own business atlest part time for now.
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Old 08-29-2010, 12:35 PM
 
106,059 posts, read 108,015,953 times
Reputation: 79628
Quote:
Originally Posted by mathjak107 View Post
boy that had to be one crappy speculation to have 30k today. i certainly wouldnt have called that investing. you could have done nothing but bought an index fund and had a million bucks. in fact fidelitys worst performing mutual fund would have given you 3x that.

no question if you can get your own business going there are lots of advantages...but the investing part is still something to do so your money works for you passively even while actively managing your business.

good planning is not an either or case . passively earning money and actively earning money work together .

owning commercial property or any rentals is not passive. thats a profession unto itself to really do it well.... we are liquidating our family owned real estate holding company the last few years just for that reason.. after 25 years as a landlord its not something i would ever want to do in retirement. to much grief ,aggrevation and input required to call it passive investing.
oops i meant their worst performing broad based mutual fund would have given you not 30 but 300x that or almost a million.
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Old 08-29-2010, 12:44 PM
 
Location: State of Superior
8,733 posts, read 15,895,282 times
Reputation: 2869
Quote:
Originally Posted by mathjak107 View Post
huh? we are both referring to the merryl lynch guy who took 100k of his and put it in bad speculative stocks. read what darstar wrote again.
Yes thats the facts. Just another example of letting others guide the way , and one more reason to go on your own.
My best investments over the years were the ones I made myself , in material things... That said... I lost 25K in Gold Stocks last year, that was my own doing, and I did have fun doing it. I can live with that...and my physical metal holdings paid off well....Don't have to worry anymore now anyway, everything I got left is tied up in real estate...a new mountian top retirement cottage with 10 acres thats paid for.
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Old 08-29-2010, 12:47 PM
 
106,059 posts, read 108,015,953 times
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"everything I got left is tied up in real estate..."

OY VAY.... HA HA HA
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Old 08-29-2010, 01:20 PM
 
Location: State of Superior
8,733 posts, read 15,895,282 times
Reputation: 2869
Quote:
Originally Posted by mathjak107 View Post
"everything I got left is tied up in real estate..."

OY VAY.... HA HA HA
Not a funny joke I am afraid. Nor am I disclaiming " Oh Woe is Me"...What I have done with my life is of my own doing, as should be everyones, there are exceptions. However we are all entitled to our exasperations, Your Yiddish coments have little meaning here.
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Old 08-29-2010, 02:28 PM
 
106,059 posts, read 108,015,953 times
Reputation: 79628
well not to much you can do but hang on for the long term.

no one had worse timing then me, i closed on my first investment property 2 weeks before the 1987 stock market crash...

in a flash i saw my entire investment evaporate as it fell a whopping 30% in value over the next few years as co-op prices plunged in nyc. i owed far more then i thought i would ever get .

it took a decade of 3% rent increases until the cost of ownership caught up to what it was costing me.

but you know what? in those days we didnt walk away, we didnt stop paying... we bit the bullet and held on....

well here we are 23 years later.. its worth a few times what even i paid and it generated many many years of income for us.

if it wasnt for the fact i keep telling this story i wouldnt even remember it happened.

Last edited by mathjak107; 08-29-2010 at 03:25 PM..
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Old 08-29-2010, 09:37 PM
 
442 posts, read 739,378 times
Reputation: 258
Default Investing

That was a great run on your 100K. What a great time in history to be an investor in 1987, but my point is that you have to diversify beyond the traditional stock market. The next 20 year run may not produce the same results. People need training on how to invest in private equity, whether it's a business, partneship, trust, Real Estate etc. They don't have to put all their eggs in the stock market basket.
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