How to get rich

[anon_6hv78pr714xta]

This is the thread for million-dollar betting picks, insider trading information, and brilliant (or insane) business ideas.

FYI—I lost quite a bit on A&Ms loss to Appalachian State and would like to pay for my kids’ college if possible, so let’s make this quick.

Bet the 49ers, give the points. The Bears suck and I have no faith in Fields. I’m half-a-mortgage payment sure.

 

[anon_6hv78pr714xta]

And here's a podcast with two young bros who talk about business ideas, different ways entrepreneurs have made money with start ups, etc.:

My First Million Podcast

My First Million podcast with Sam Parr and Shaan Puri

www.mfmpod.com

 

[larsIU]

Whatever I say. Do the opposite.

 

[mcmurtry66]

And here's a podcast with two young bros who talk about business ideas, different ways entrepreneurs have made money with start ups, etc.:

My First Million Podcast

My First Million podcast with Sam Parr and Shaan Puri

www.mfmpod.com

Great thread. I love this. I’m a true entrepreneur at heart. Let’s get your shitty bet out of the way first. Yes Aggie stadium has five times the population of the entire city of Boone, but you forgot to account fo that country grit son. Don’t you watch Mountain Men?

this is a topic I could write a lot about. Unfortunately my kid is barking at me so I can’t give it much time. Entrepreneurial life sounds glamorous but is really, really hard. Most start ups fail. Founders are clueless. They come to market too soon. Too late. They are undercapitalized. On and on and on. Some strike gold but the odds are overwhelmingly against you.

the path to becoming a millionaire is simple. Marry it. Or marry someone who is a good earner. Then get a good job with a good company and stay. Stay in the industry. Don’t flake out. Do stay married. Invest in the market over the long run. buy a house and keep trading up. You will be a multi millionaire in time. Guaranteed.

don’t follow your pecker. Don’t hire based on looks. Don’t get bored. Don’t chase get rich schemes. Life in this country is very simple for the disciplined and the nerdy

yours in anger,

mr experience.

 

[Bulk VanderHuge]

 

[mcmurtry66]

Amen. That’s a beaut

 

[anon_6hv78pr714xta]

Great thread. I love this. I’m a true entrepreneur at heart. Let’s get your shitty bet out of the way first. Yes Aggie stadium has five times the population of the entire city of Boone, but you forgot to account fo that country grit son. Don’t you watch Mountain Men?

this is a topic I could write a lot about. Unfortunately my kid is barking at me so I can’t give it much time. Entrepreneurial life sounds glamorous but is really, really hard. Most start ups fail. Founders are clueless. They come to market too soon. Too late. They are undercapitalized. On and on and on. Some strike gold but the odds are overwhelmingly against you.

the path to becoming a millionaire is simple. Marry it. Or marry someone who is a good earner. Then get a good job with a good company and stay. Stay in the industry. Don’t flake out. Do stay married. Invest in the market over the long run. buy a house and keep trading up. You will be a multi millionaire in time. Guaranteed.

don’t follow your pecker. Don’t hire based on looks. Don’t get bored. Don’t chase get rich schemes. Life in this country is very simple for the disciplined and the nerdy

yours in anger,

mr experience.

So plan on marrying for money with my second wife? Guess I need to get back in shape, damn it.

Your advice is sound but boring. This thread is dedicated to those among us who still yearn to hit it big with that one good case, idea, investment. You know: the idiots.

 

[anon_6hv78pr714xta]

Whatever I say. Do the opposite.

Deets

 

[outside shooter]

Buy half the house that the bank would allow you to buy, half the car that the bank would allow you to buy (and then drive it forever), don't gamble significantly on sports or games of chance, invest in the market (broadly) and always think the long play rather than today's hot stock, enjoy good food cooked at home, treat yourself to a good restaurant on occasion but one that isn't 5 star linen white glove service.

Do all that and work hard. You will be all right unless our awful health care system bankrupts you.

Not sexy new advice, I know.

 

[UncleMark]

Do all that and work hard. You will be all right unless our awful health care system bankrupts you.

We'll be fine unless one of us ends up in a nursing home. I need to either go quick or have someone lined up to take me out.

 

[outside shooter]

We'll be fine unless one of us ends up in a nursing home. I need to either go quick or have someone lined up to take me out.

I might look into managed care insurance. An advisor mentioned that to me recently. If the first to go blows the whole nest egg through a 10 year nursing home existence, it is a problem for the survivor.

 

[anon_6hv78pr714xta]

We'll be fine unless one of us ends up in a nursing home. I need to either go quick or have someone lined up to take me out.

There are some people on here who might pay YOU to follow through with that last request

 

[mcmurtry66]

So plan on marrying for money with my second wife? Guess I need to get back in shape, damn it.

Your advice is sound but boring. This thread is dedicated to those among us who still yearn to hit it big with that one good case, idea, investment. You know: the idiots.

Not to hijack with legal shit but that big case is getting hard. PayPal and their bs practices are a perfect example. Arbitration user agreements are cockblocking so much shit

 

[snarlcakes]

This is the thread for million-dollar betting picks, insider trading information, and brilliant (or insane) business ideas.

FYI—I lost quite a bit on A&Ms loss to Appalachian State and would like to pay for my kids’ college if possible, so let’s make this quick.

Bet the 49ers, give the points. The Bears suck and I have no faith in Fields. I’m half-a-mortgage payment sure.

 

[NPT]

How to get rich........ First, you have to define rich..... that means something different to most people... how do you define it?

On edit: One more thing... my nephew, who never made over $60,000/year in his life, essentially did what OS said above and I know for a fact he's worth over 3 million today.

 

[Cortez88]

We'll be fine unless one of us ends up in a nursing home. I need to either go quick or have someone lined up to take me out.

Are you offering a used S10?

 

[anon_6hv78pr714xta]

Not to hijack with legal shit but that big case is getting hard. PayPal and their bs practices are a perfect example. Arbitration user agreements are cockblocking so much shit

Arbitration agreements have been doing that for over 15 years. It's malpractice not to have one these days, no matter the situation.

 

[Marvin the Martian]

Sell everything you own for cash, move to Vietnam. Instantly wealthy.

 

[anon_6hv78pr714xta]

Sell everything you own for cash, move to Vietnam. Instantly wealthy.

Kids won't like that.

 

[UncleMark]

Are you offering a used S10?

You strike a hard bargain.

 

[vesuvius13]

Get elected to Congress and use insider info to get into stock early before others know what laws will be passed. This is done by those in Congress, we need to outlaw it as it is cheating.

 

[Marvin the Martian]

How to get rich........ First, you have to define rich..... that means something different to most people... how do you define it?

On edit: One more thing... my nephew, who never made over $60,000/year in his life, essentially did what OS said above and I know for a fact he's worth over 3 million today.

I think rich is only a third person term.

There was a discussion here months ago, I suggested something like $600,000/yr is certainly rich. I was assured it was not. It is the top 1%, I am not sure how the top 1% does not qualify. But my tastes are just north of Mark's.

I believe top 10% is around $120,000. Depending on location, that may be rich. Certainly not in NYC, but I suspect one can live pretty well with that in Paoli.

 

[NPT]

Get elected to Congress and use insider info to get into stock early before others know what laws will be passed. This is done by those in Congress, we need to outlaw it as it is cheating.

 

[BCCHoosier]

I think rich is only a third person term.

There was a discussion here months ago, I suggested something like $600,000/yr is certainly rich. I was assured it was not. It is the top 1%, I am not sure how the top 1% does not qualify. But my tastes are just north of Mark's.

I believe top 10% is around $120,000. Depending on location, that may be rich. Certainly not in NYC, but I suspect one can live pretty well with that in Paoli.

I always think of rich more in terms of net worth versus income. Lots of people make big incomes but don't necessarily have the savings to match.

To be truly rich (speaking in a financial sense only) means you don't have to work. You can live off your investments.

 

[Bill4411]

So plan on marrying for money with my second wife? Guess I need to get back in shape, damn it.

Your advice is sound but boring. This thread is dedicated to those among us who still yearn to hit it big with that one good case, idea, investment. You know: the idiots.

As my Uncle Sonny used to say, "You can make more money in a minute than you can earn in a lifetime".

 

[Marvin the Martian]

I always think of rich more in terms of net worth versus income. Lots of people make big incomes but don't necessarily have the savings to match.

To be truly rich (speaking in a financial sense only) means you don't have to work. You can live off your investments.

That might be true, but that raises a question. If I make a million a year after taxes and spend a million a year, I am not rich?

Or someone who can live comfortably on $60,000 retires with that income, they are rich?

So 8 am thinking rich is more a state, do you worry about money? If one spends their days worrying how to make their ends meet, they are not rich. The less they worry about that, the closer they are to rich.

 

[anon_6hv78pr714xta]

So my 49ers pick was as good as my A&M pick. 🤦‍♂️

 

[BCCHoosier]

That might be true, but that raises a question. If I make a million a year after taxes and spend a million a year, I am not rich?

Or someone who can live comfortably on $60,000 retires with that income, they are rich?

So 8 am thinking rich is more a state, do you worry about money? If one spends their days worrying how to make their ends meet, they are not rich. The less they worry about that, the closer they are to rich.

Damn Marvin, all good questions. I'm just laying here being lazy watching the Bears suddenly come to life. 😁

Have to think on this one.

 

[Marvin the Martian]

Damn Marvin, all good questions. I'm just laying here being lazy watching the Bears suddenly come to life. 😁

Have to think on this one.

I am pondering other deep questions like how the "improved" Bengal offensive line still sucks.

 

[Marvin the Martian]

I am pondering other deep questions like how the "improved" Bengal offensive line still sucks.

More deep thoughts, how does a team get the game winning extra point blocked, then miss a chip shot FG in OT?

 

[UncleMark]

So 8 am thinking rich is more a state, do you worry about money? If one spends their days worrying how to make their ends meet, they are not rich. The less they worry about that, the closer they are to rich.

That's silly. If that was the case, then you and me would be "rich." Neither one of us is in danger of getting the lights shut off or our cars repo'd.

But since we're playing around, how about this:

How big of a lump sum would it take hitting your bank account (let's assume after taxes or tax free) for you to consider yourself rich?

 

[anon_6hv78pr714xta]

That's silly. If that was the case, then you and me would be "rich." Neither one of us is in danger of getting the lights shut off or our cars repo'd.

But since we're playing around, how about this:

How big of a limp sum would it take hitting your bank account (let's assume after taxes or tax free) for you to consider yourself rich?

$10 million

 

[Marvin the Martian]

That's silly. If that was the case, then you and me would be "rich." Neither one of us is in danger of getting the lights shut off or our cars repo'd.

But since we're playing around, how about this:

How big of a lump sum would it take hitting your bank account (let's assume after taxes or tax free) for you to consider yourself rich?

I think that is a trick question from one standpoint, again, we are not accustomed to thinking of ourselves as rich. I suspect Gates seldom thinks of himself as rich.

But if $120,000 is that cutoff to be in the top 10%, then if one had 4 million in the bank they could live on the 3% rule for life at a top 10% income.

But that in NYC would not mean nearly as much as in Indiana. So if wanted to be rich with that, they may want to give up the idea of living on Park Avenue.

It also depends on the status of kids. A single person bringing in $120,000 is much more likely to feel rich than someone with a spouse and 4 kids.

Also I recall a book that suggested our position to friends matter. The poorest person in Trump Tower feels much poorer than the wealthiest person in Martinsville even if the Park Avenue person has multiples of income over the Martinsville person.

I see that in real life, my household wealth is significantly greater than my HS friends, but significantly less than my college friends. With one group, just getting together and gaming and eating pizza is our extravaganza, the other group it is multiple cruises in a year (something I cannot afford).

So I think that to people who have household incomes of $50,000, I am rich today. To people with incomes of $500,000, I am poor. I came from the poor side, so I actually would argue that I am probably wealthy right now though I afford to drive a 2017 Kia, live in a 2200 sq foot home (which is huge compared to what I grew up in), and cannot afford to do more than National Park vacations (Acadia in October).

Roughly just north of $3 million would let me lead this life without working (less with social security). So $3.25 million in the bank in southern Indiana with no kids.

 

[dbmhoosier]

Easiest way is probably to just follow Pelosi's stock trades.

 

[mcmurtry66]

Sell everything you own for cash, move to Vietnam. Instantly wealthy.

I know a judge who recently did that but Thailand

 

[NPT]

As my Uncle Sonny used to say, "You can make more money in a minute than you can earn in a lifetime".

Just remember this...

 

[outside shooter]

More deep thoughts, how does a team get the game winning extra point blocked, then miss a chip shot FG in OT?

Having to use a backup long snapper is how. Brutal.

 

[NPT]

I always think of rich more in terms of net worth versus income.

Me too... so what is rich to you?

But to a certain extent I look at being rich as not having to worry about money. I've told people for years that I don't think inheriting a billion dollars would change our life very much at all because we basically do what we want to do and can afford what we want. The thing is for the most part I don't want many things.... I am more interested in making some more good memories than getting more things.

One more thing.... I think "rich" also depends on where you came from. In other words, someone who grew up and had lots of things will have a different view of what rich is than someone who grew up not having much. I had 8 siblings and our daughter had more stuff growing up than all 9 of us put together so I think she'll have have a different view of what rich is. We were poor as far as money was concerned but rich in other ways... had fresh meat and vegetables to eat, had a national park as our playground, etc.

 

[NPT]

and cannot afford to do more than National Park vacations (Acadia in October).

That's what I consider a good vacation... rather do that any day than go on a cruise or go to Disney World. We're headed out before long to visit Badlands NP, Mt. Rushmore, Theodore Roosevelt NP, and some other places my wife has planned. My wife has been to all the states except ND so this is something that she's wanted to do for several years but we just never got around to it (grandkids now )

Acadia is beautiful. Make sure you go to Cadillac Mountain.

 

[Marvin the Martian]

That's what I consider a good vacation... rather do that any day than go on a cruise or go to Disney World. We're headed out before long to visit Badlands NP, Mt. Rushmore, Theodore Roosevelt NP, and some other places my wife has planned. My wife has been to all the states except ND so this is something that she's wanted to do for several years but we just never got around to it (grandkids now )

Acadia is beautiful. Make sure you go to Cadillac Mountain.

Thanks, this will be our third Acadia trip but first in fall with leaves changing. We have two sunrise visits to Cadillac scheduled (in case of weather). One has to pre-register for that now. We have a windjammer dinner, a horse carriage ride, and all the rest.

I agree, I want to do the parks more than cruises. I would love to do 2 weeks in Iceland, UK, France, and Belgium sometime. Other than that one extravagance, I am content doing US national parks the rest of my life.

We still have not done Yellowstone. It was planned for 2020 along with the giant Aspen Grove in Utah, but something happened in 2020 to stop it

I love your photos on Facebook, I wish I had a photographer's eye. Back in the old film days I would buy tons of black and white film and take pictures at Civil War battlefields like no one's business. Never could get anything good.