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Old 07-04-2012, 06:38 AM
 
106,246 posts, read 108,257,613 times
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its at the top of the heap. CAPITAL GAINS IS WHAT BUILDS WEALTH for most of us who arent born wealthy.

Last edited by mathjak107; 07-04-2012 at 07:03 AM..
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Old 07-04-2012, 08:43 AM
 
106,246 posts, read 108,257,613 times
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Originally Posted by Info Guy View Post
Most people wil notl do what the millionaires will do to achieve the goal. Most people aren't willing to sacrifice and wait. People don't have patience and have proper education.
many folks become so obsessed with being frugal that the frugalness carries over to their mentaility about investing and they have such fear of loosing anything that they comitt their own financial suicide decades down the road by doing little to grow that money.
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Old 07-04-2012, 08:45 AM
 
Location: Southern California
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and many die rich without having lived a very fulfilling life

but different strokes for different folks
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Old 07-04-2012, 09:02 AM
 
106,246 posts, read 108,257,613 times
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life is all about finding that balance.

but no matter what your goals are having dough gives you choices in life and thats the most important reason you want to strive to have as much as you can regardless.

i learned early on that ability to have choices in life is so important. while many folks say they dont need money they may be very wrong because while it may be true money doesnt buy happiness it does make misery alot better and most important gives you choices.

as a youngster i grew up in a new york city housing project as my family really had nothing.

well my best friend got into some trouble with the law. the problem was his family was just over the limit for legal aid and couldnt afford a lawyer.

he was going to plead guilty to something he didnt do because not having money left him no choice.

i knew he was not guilty because him and i chickened out at the last minute and didnt do what we set out to do with the group.

well a relative took a loan against their house ,got him a lawyer and he was found not guilty.

i learned early on about how important it was to have money for choices in life .

Last edited by mathjak107; 07-04-2012 at 10:17 AM..
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Old 07-04-2012, 11:30 AM
 
Location: Southern California
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Originally Posted by mathjak107 View Post
life is all about finding that balance.
I agree 100%. I think some people just go overboard a bit, saving every penny from the minute they start earning and never indulging on anything in life. Then one day they realize they are rich but at what expense?
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Old 07-04-2012, 11:38 AM
 
106,246 posts, read 108,257,613 times
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they may be very happy just being rich.

like i said there are 3 kinds of people out there.

one group loves money because it represents power,security, confidence and success. to them they are quite happy just staring at the numbers.

the next group likes money for the things it buys, they are happy when they are spending

the last group likes making money more than spending it or having it. for them its the art of the deal, building successful companies and beating markets and other businessman at their own game.
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Old 07-04-2012, 12:41 PM
 
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Originally Posted by mathjak107 View Post
the truth is except for basic food ,shelter and clothing there isnt much we really need. all the other things just make life a whole lot better or more fun. im a saver and it pains me to buy certain things .

i like money for the security and feeling of being under my own control .

my wife is a spender,she likes money for the things money can buy.

who is right? both of us. money means different things to different people and hoarding it and saving it isnt something everyone wants to do and thats okay as long as their bills and goals are being met.

im trying to be more like her at this stage.

we know people who enjoy earning money for neither of the above. for them they like making money more than the things money buys. for them its the art of the deal or investing and being right.
You can wait a few years more to get what you want. So if you wife is spending and you are saving. How does that help you?
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Old 07-04-2012, 12:44 PM
 
4,338 posts, read 7,498,187 times
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Originally Posted by mathjak107 View Post
its at the top of the heap. CAPITAL GAINS IS WHAT BUILDS WEALTH for most of us who arent born wealthy.
Let's hope the long term tax remains is 15%.
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Old 07-04-2012, 12:45 PM
 
4,338 posts, read 7,498,187 times
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Originally Posted by Mr_Geek View Post
and many die rich without having lived a very fulfilling life

but different strokes for different folks
Just make sure you can pass that money to the people you love. It is a win-win situation.
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Old 07-04-2012, 03:17 PM
 
106,246 posts, read 108,257,613 times
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Originally Posted by Info Guy View Post
You can wait a few years more to get what you want. So if you wife is spending and you are saving. How does that help you?
it helps me by loosening me up and getting me to enjoy more of the things money can buy vs just watching the numbers grow. we are just about ready to retire and all my life i wanted a bmw and just never did it. well she finally pushed me enough that i did it and i didnt regret doing it for a second.

kept it about 2-1/2 years and saw a 2012 jeep sahara and i wanted to try that for a while so i did it.

we are really enjoying ourselves now and doing many of the things i denied myself through the saving and investing years.

Last edited by mathjak107; 07-04-2012 at 04:31 PM..
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