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yep , but of course to the youngin's today we had a cake walk .
every generation pretty much got their butts kicked early on . my fathers was he was a child of the great depression and then world war 2 . some how i think that was far worse then i got a philosophy degree and can't find a job .
'08 and the aftermath was the worst economy since the great depression. The inflation in the cost of and the number of people getting degrees doesn't help either because many have debt and both a terminal high school degree and a terminal bachelors are devalued. I don't think anyone who has given it serious thought is saying young people these days have it worse than people who started out during a draft, but excluding those people and the handful still alive who were old enough to start out during the great depression it's a fair statement.
yep , but of course to the youngin's today we had a cake walk .
every generation pretty much got their butts kicked early on . my fathers was he was a child of the great depression and then world war 2 . some how i think that was far worse then i got a philosophy degree and can't find a job .
LOL, yep, my father was the youngest child of depression parents, kids today would be appalled at how tight they were with money. My uncle, a navigator in WWII, other uncle fought in the South Pacific, they said he and his buddies raised hell on time off since he didn't know if he would be alive the next day. All I can remember is the man had a perpetual smile on his face.
And Millennials think they got problems? I think our generation raised a bunch of .....
As hard as it was for me coming up, I'll take it. Today is no different. It's Life!
'08 and the aftermath was the worst economy since the great depression. The inflation in the cost of and the number of people getting degrees doesn't help either because many have debt and both a terminal high school degree and a terminal bachelors are devalued. I don't think anyone who has given it serious thought is saying young people these days have it worse than people who started out during a draft, but excluding those people and the handful still alive who were old enough to start out during the great depression it's a fair statement.
By the time your 30-40 working career ends many will likely do well just as each generation has. You won't even remember 2008 the way i forgot the 1970's
SS and medicare, wars, and welfare are going to put the US into the toilet within 30 years, guaranteed, 20 years probably, and 10 years QUITE possibly. They KNOW that 'they can't fund even SS and medicare, much less all the other welfare, (which is all the military is, a big handout for nothing done/ gained).
Anyone can become a millionaire with time. I tell my kids all you need to do is invest $2,000 a year from the time they are 18 or so and do that for the next 6 years. They can choose to keep investing or quit. Then let that money ride. Do not borrow on it, do not sell off the shares, just let it ride. It does not even matter if it is in a IRA or a 401K, just let time do its thing. When they retire at age 65 they will have become worth over $1million.
For someone that saves just $2,000 a year from age 20 and does that for 6 years, letting it build will make it. But get this, for someone that waits to invest untill they are 26, they will need to save the same $2,000 a year until they hit age 65 to make up the lost time that the money could have grown.
The best situation would be to start at age 20 or 18 if you can and never stop investing that $2,000 amount. You would have over $2,500,000 by the time you hit 65.
On that $12,000 you invested, you would need to average 10% EVERY YEAR for 47 years to get over $1 million. You would need to average 12% EVERY YEAR for 47 years to get the $2.5 million.
Good freaking LUCK with that. Even if you slapped that in an S&P Index Fund, the average return on that has been about 7% before the fees, once the fees that's down to about 6%. At 6% they would have about $185k in 47 years.
I have told you guys on this Forum before, if you truly want to build wealth, START a profitable business. No where else can you get 100%, 300%, 600%, 1,000%, 2,000%, 5,000% freaking returns.
So let's say you have a nice profitable business where every $5,000 you invest in it turns into $50,000 in revenue within one year, for $45,000 in profit (900%). Let's say it only takes you about 30 hours a week to operate the business, which is technically part-time, allowing you time to have another full time position (70 hours a week is how most 6 figure people make a living).
If you keep running that business every year for 20 years, you generate $900,000 in profit. But here's the kicker, if you take that entire $45k in profit and have invested it in safe/conservative investment at just 3.5% per year, over that 20 year period, at the end of 20 years (by adding $45k per year) you would have also created a side fixed interest gain of $1.4 million.
So in 20 years, that's a total of nearly $2.5 million right there before taxes.
How do you become a millionaire? You operate a profitable business!
This is my current investing strategy, it's Business Portfolios and Fixed Income Investments. Both are 100% in my control, direction and based on my innovation/creativity/tenacity. I do no Capital Appreciation based investments like Stocks or Real Estate because I have no control over the appreciation value.
I'm a Millennial and while I'm NOT putting my asset totals up here, I will tell you I'm in the Top 1% of my Generation. That means I have more assets than 99% of my Generation. I also have a managed Cushion of about 12 Years per the end of the 2nd Quarter. That means that I could sit on my tail RIGHT NOW and make no additional incomes or revenues, and just off my current Business Portfolios, Fixed Income Investments and other Resources, I can live off of them for 12 years before I am down to ZERO.
That's what you call freedom ladies and gentlemen.
Last edited by jotucker99; 08-01-2015 at 06:00 PM..
I have told you guys on this Forum before, if you truly want to build wealth, START a profitable business. No where else can you get 100%, 300%, 600%, 1,000%, 2,000%, 5,000% freaking returns.
So let's say you have a nice profitable business where every $5,000 you invest in it turns into $50,000 in revenue within one year, for $45,000 in profit (900%). Let's say it only takes you about 30 hours a week to operate the business, which is technically part-time, allowing you time to have another full time position (70 hours a week is how most 6 figure people make a living).
If you keep running that business every year for 20 years, you generate $900,000 in profit. But here's the kicker, if you take that entire $45k in profit and have invested it in safe/conservative investment at just 3.5% per year, over that 20 year period, at the end of 20 years (by adding $45k per year) you would have also created a side fixed interest gain of $1.4 million.
So in 20 years, that's a total of nearly $2.5 million right there before taxes.
How do you become a millionaire? You operate a profitable business!
This is my current investing strategy, it's Business Portfolios and Fixed Income Investments. Both are 100% in my control, direction and based on my innovation/creativity/tenacity. I do no Capital Appreciation based investments like Stocks or Real Estate because I have no control over the appreciation value.
I'm a Millennial and while I'm NOT putting my asset totals up here, I will tell you I'm in the Top 1% of my Generation. That means I have more assets than 99% of my Generation. I also have a managed Cushion of about 12 Years per the end of the 2nd Quarter. That means that I could sit on my tail RIGHT NOW and make no additional incomes or revenues, and just off my current Business Portfolios, Fixed Income Investments and other Resources, I can live off of them for 12 years before I am down to ZERO.
That's what you call freedom ladies and gentlemen.
and this is OVERLOOKING a vital point. we've AVERAGED 5% inflation per year. So, if all you make is 10% and pay taxes, you really only make 8 % After inflation is accounted for, you're really only making 3%. So you're full of it about the numbers. You'll have to invest MUCH more, at MUCH higher rates of return to have a million in 25 years.
Fortunately, that's not hard to do and you don't need to have a million $ to retire comfortably in the US, either. If you know what you're doing, you can retire on 100k (of actual investment-committment) , but you'll need another 50k or so to cover your butt for the first year of the investing, if you have no other income.
As for having such a biz, you're blowing smoke and everyone here knows it. But you CAN start a biz with as low as 20k and make 30k a year, (after tax) just from sitting around watching your weekly rental buiding. Depending upon what you consider your salary to be, that return on invesment is 50-150%. If you start with 50k, after the first year, you can turn that building (mostly) over to some live in guy to manage, while you start another. Big old wood framed buildings can be had for 60-80k, and veterans don't have to pay 20% down or 5-6k of closing costs. :-) It's not hard to find out-of-work veterans who need a room to live in, folks. :-)
you do not have to get the entire building set up nice to get started, just a few rooms. the tenants can work off some of their rent by helping you with the rest of the buiding, painting, floor or ceiling tile, roof repairs, etc. Plenty of people can and will pay $100 per week for a room that is shared with another person, as long as you put up a privacy screen, and have a locker for their valuables. Have a small, lockable cabinet and fridge, a TV with cable, and a PC with net, and you'll soon have a waiting list of tenants for those rooms. :-) Many a big house will hold 20-30 such people. That's 100k-150k of income per year. How much do you think electricity, heat, water, and insurance can BE? the interest on the 80k, at 5%, is just what inflation is causing,so it's free money, actually. In some areas, too, you can get $150 per week.
Good freaking LUCK with that. Even if you slapped that in an S&P Index Fund, the average return on that has been about 7% before the fees, once the fees that's down to about 6%. At 6% they would have about $185k in 47 years.
It's shocking in this day and age that people will put up such false information when it's so easy to look up.
So let's take a look at the Vanguard S&P 500 Stock Index fund's most expensive share class (VFINX), the "Investor" class and see what the annualized returns have been as of 7/31/15, shall we?
5 Year: 16.07%
10 Year: 7.60%
15 Year: 4.49%
20 Year: 8.86% (As of 6/30/15)
Since 8/31/1976 to 6/30/15: 11.00%
So, other than the 15 year time frame, your info is completely false.
And since most people dollar cost average, if they are consistent, they will do a little better than the published returns during the bad stretches.
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