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Lots of rich smart people on CDf
Those are always the ones that get mocked and jeered
CDf has the best circus and the best clowns
Show me the poster that is Attacked and ridiculed & takes it well and I will show you a rich man
Show me the man that can angrily explain his poverty but not fix it and I will show u a CDf clown
I think OP has been watching too much TV if he thinks rich people have one million dollars sitting around in the drawer. How irresponsible that would be as well as stupid.
through the years the permanent portfolio did as well as a 100% investment in the s&p 500 holds 25% cash.
a million dollar portfolio would have 1 million in cash by design.
cash can also be like owning call options on stocks at lower prices if that is your plan.
holding large amounts of cash can be part of a strategy , investing in just cash instruments can be a poor investment idea.
Last edited by mathjak107; 01-09-2015 at 08:31 AM..
I know a number of retired farmers that are worth over 10mil.
I'm sure some of them post on forums like this from time to time....it's not that rare for a retiree to have that kind of coin.
Walk into the local diner in small town usa and see the guy in flannel drinking coffee with his friends and driving a pick-up....he might we the richest guy around for hundreds of miles lol.
Little old lady that goes to my parents church is probably worth 50-100mil, massive amounts of farmland.
In the United States, millionaires are not that uncommon, and a lot of them spend their time doing what other regular people do, like posting on CD.
I know, right. I have my work laptop on my main desk and my personal PC on my credenza. It's a simple swivel in my chair to start wasting time on CD when I should be on the phone or work laptop.
Im a millionaire. Not that big of a deal. Its all in reinvestment mode while I work a day job because you cant retire at 29 with a million dollars and expect to be cozy at 80....
Yes you absolutely can if you live a non-extravagant lifestyle for a while. At an 8% annual return in an index fund that $1,000,000 would double in 8 years even if you added nothing to it. By 80 you'd have some Holy $h1t! money.
That said, I'm sure there are plenty of millionaires on CD, if only because it's not that big a deal anymore.
I know a number of retired farmers that are worth over 10mil.
I'm sure some of them post on forums like this from time to time....it's not that rare for a retiree to have that kind of coin.
Walk into the local diner in small town usa and see the guy in flannel drinking coffee with his friends and driving a pick-up....he might we the richest guy around for hundreds of miles lol.
Little old lady that goes to my parents church is probably worth 50-100mil, massive amounts of farmland.
Farming equipment is expensive.......so yes, most farmer would be millionaires.
When I drill a water well......from beginning to end.......I have used over a million dollars in equipment.
Yes you absolutely can if you live a non-extravagant lifestyle for a while. At an 8% annual return in an index fund that $1,000,000 would double in 8 years even if you added nothing to it. By 80 you'd have some Holy $h1t! money.
That said, I'm sure there are plenty of millionaires on CD, if only because it's not that big a deal anymore.
True......a million is not much anymore.
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