Comments on: Let’s change our goals around… http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/ Learning and sharing investment knowledge. Fri, 25 Jul 2008 01:33:50 +0000 http://wordpress.org/?v=2.0.4 by: Harry Hooper http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-153970 Wed, 12 Sep 2007 19:34:33 +0000 http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-153970 Hello, I would be interested in buying advertising on your site www.investorgeeks.com. Please send me your rates if you accept advertising (banners or text links) Regards Harry Hooper Owner - www.stock4today.com Hello,

I would be interested in buying advertising on your site www.investorgeeks.com.

Please send me your rates if you accept advertising (banners or text links)

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Harry Hooper
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]]> by: bills http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-136265 Thu, 09 Aug 2007 15:53:13 +0000 http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-136265 I think breaking down one's goal into smaller steps is a great idea. I remember when I went off to college, thinking in terms of 4 years or more was daunting. I broke my college career down into semesters. One down, 7 more to go. It made it a lot easier to concieve of reaching that coveted day- graduation, one semester at a time. It's a mental game for sure, but if it works, it works. I think breaking down one’s goal into smaller steps is a great idea. I remember when I went off to college, thinking in terms of 4 years or more was daunting. I broke my college career down into semesters. One down, 7 more to go. It made it a lot easier to concieve of reaching that coveted day- graduation, one semester at a time. It’s a mental game for sure, but if it works, it works.

]]> by: hhqbdbsmjq http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-101024 Tue, 19 Jun 2007 10:55:52 +0000 http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-101024 Hello! Good Site! Thanks you! ovyxiymeov Hello! Good Site! Thanks you! ovyxiymeov

]]> by: j.h. http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-14641 Tue, 05 Dec 2006 23:39:23 +0000 http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-14641 Steve, your post reminds me of Dave Ramsey's little saying, about how if you live like no one else now, later on, you will get to live like no one else. Or something like that; i.e., if you tighten your belt, get rid of debt, save like mad now, so you can invest, then later on it will all pay off, and it can all go in your pocket rather than to one's creditors. Good job! Also, I don't know what the cost of living is where you're at; I live in not-a-very-big-city, and my husband and I currently spend around $1400/month. Unfortunately, we don't make a whole lot more than that, but anyhow, we have no debt whatsoever, and are slowly building up our investable money fund. Now, the question is learning to invest it wisely. Steve, your post reminds me of Dave Ramsey’s little saying, about how if you live like no one else now, later on, you will get to live like no one else. Or something like that; i.e., if you tighten your belt, get rid of debt, save like mad now, so you can invest, then later on it will all pay off, and it can all go in your pocket rather than to one’s creditors.

Good job!

Also, I don’t know what the cost of living is where you’re at; I live in not-a-very-big-city, and my husband and I currently spend around $1400/month. Unfortunately, we don’t make a whole lot more than that, but anyhow, we have no debt whatsoever, and are slowly building up our investable money fund. Now, the question is learning to invest it wisely.

]]> by: Phil John http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-13478 Thu, 23 Nov 2006 07:01:15 +0000 http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-13478 Prlinkbiz "All the people being forclosed on are creating a huge opportunity for real investors to step back into the market, and thats whats happening. Money is easier to find now because so many people have jumped ship- lenders are looking for people to loan to- the people who know how to make money are the ones who are left." You are a fool. Opportunity is what happens 5 years from now. You know, when NOBODY wants to buy real estate unless they are going to live in the property. My parents paid 80k for some property that is now "worth" 400k. Buying it at 350k is not a bargain. Of course - if YOU want to buy it, let me know and I will take you through. They are looking to offload a few properties - so if you want to use leverage, let me know. You talk about leverage like you know what you are doing - but we both know that as the bubble crashes, unless you can afford to make the repayments without using rental income, there is a decent chance you will get burned. Banks are not selling foreclosures cheaply - that is a myth. If you have purchased a foreclosure on the cheap, please indulge us with the evidence. The US dollar is unstable - do you read about reserve diversification at all? If it crashes and the Fed decides to support it by raising interest rates, what do you think is going to happen? Phil Prlinkbiz

“All the people being forclosed on are creating a huge opportunity for real investors to step back into the market, and thats whats happening. Money is easier to find now because so many people have jumped ship- lenders are looking for people to loan to- the people who know how to make money are the ones who are left.”

You are a fool. Opportunity is what happens 5 years from now. You know, when NOBODY wants to buy real estate unless they are going to live in the property. My parents paid 80k for some property that is now “worth” 400k. Buying it at 350k is not a bargain. Of course - if YOU want to buy it, let me know and I will take you through. They are looking to offload a few properties - so if you want to use leverage, let me know.

You talk about leverage like you know what you are doing - but we both know that as the bubble crashes, unless you can afford to make the repayments without using rental income, there is a decent chance you will get burned. Banks are not selling foreclosures cheaply - that is a myth.

If you have purchased a foreclosure on the cheap, please indulge us with the evidence.

The US dollar is unstable - do you read about reserve diversification at all? If it crashes and the Fed decides to support it by raising interest rates, what do you think is going to happen?

Phil

]]> by: Some Thoughts On Steve’s Article and Personal Finance on InvestorGeeks http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-13361 Wed, 22 Nov 2006 10:22:36 +0000 http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-13361 [...] I was reading Steve’s article and thought “Steve you are a smart guy.” Steve is being smart because I think he is reading the market correctly and getting ready. I read the comments associated with Steve’s article and thought many are missing the message within the article. One comment that caught my eye. Of course anyone who is on the outside will be scared, like you Steve- quoting horror stories- however the real money is made now. You have to educate yourself instead of claim that all use of leverage (blanket term) is bad or dangerous. It’s simply a tool that when used properly can help you get ahead faster than if you had to save the same amount. [...] […] I was reading Steve’s article and thought “Steve you are a smart guy.” Steve is being smart because I think he is reading the market correctly and getting ready. I read the comments associated with Steve’s article and thought many are missing the message within the article. One comment that caught my eye. Of course anyone who is on the outside will be scared, like you Steve- quoting horror stories- however the real money is made now. You have to educate yourself instead of claim that all use of leverage (blanket term) is bad or dangerous. It’s simply a tool that when used properly can help you get ahead faster than if you had to save the same amount. […]

]]> by: Mark http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-13286 Tue, 21 Nov 2006 22:51:08 +0000 http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-13286 In all the comments about leverage and flipping houses and so on, I think Steve's original point is getting lost. And even if his specifics aren't something everyone can agree on, the methods are sound I think. -Lower your monthly nut and keep it low. -Get rid of your debt. -Invest the difference between what you earn and what you spend. You don't have to live miserly - or miserably - but you make choices, and you recognize that most companies exist to part you from your money. Once you're on the no debt / low cost of living plan, it's pretty easy to stay on it. Get a raise or bonus? Sock away the difference. Keep driving the car you've got. Do away with the zillion cable channels and so on. It adds up fast when it's leaving your bank account. But the opposite holds true too: it adds up fast in your brokerage account when you add to it every month. In all the comments about leverage and flipping houses and so on, I think Steve’s original point is getting lost. And even if his specifics aren’t something everyone can agree on, the methods are sound I think.

-Lower your monthly nut and keep it low.

-Get rid of your debt.

-Invest the difference between what you earn and what you spend.

You don’t have to live miserly - or miserably - but you make choices, and you recognize that most companies exist to part you from your money. Once you’re on the no debt / low cost of living plan, it’s pretty easy to stay on it. Get a raise or bonus? Sock away the difference. Keep driving the car you’ve got. Do away with the zillion cable channels and so on. It adds up fast when it’s leaving your bank account. But the opposite holds true too: it adds up fast in your brokerage account when you add to it every month.

]]> by: Ken http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-13166 Mon, 20 Nov 2006 22:23:57 +0000 http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-13166 Steve, I did just that 2 years ago. I got my expenses down to about $1500/mo. I bought a $73k condo, had no car payment, no job, no expenses except cable & internet & food. I could have lived like this for the rest of my life. I was 32. I can tell you that it was boring because if I wanted to go out and eat, it cost money. I couldn't go on a vacation cause it costs money. Any little thing would blow my budget! This is not the way you want to retire!!! I lived this way for 2 years. That's why I don't believe that lowering your expenses is the way to retire early. You should be increasing your income. Then when you retire, you can go on vacations, cruises, Vegas or whatever you want... not just sit at home Steve,

I did just that 2 years ago. I got my expenses down to about $1500/mo. I bought a $73k condo, had no car payment, no job, no expenses except cable & internet & food. I could have lived like this for the rest of my life. I was 32.

I can tell you that it was boring because if I wanted to go out and eat, it cost money. I couldn’t go on a vacation cause it costs money. Any little thing would blow my budget!

This is not the way you want to retire!!! I lived this way for 2 years. That’s why I don’t believe that lowering your expenses is the way to retire early. You should be increasing your income. Then when you retire, you can go on vacations, cruises, Vegas or whatever you want… not just sit at home

]]> by: Steve http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-13157 Mon, 20 Nov 2006 20:55:03 +0000 http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-13157 Since this is an ADVICE site, I give my OPINIONS on what I do. If you don't like my opinions, that's fine, it doesn't matter and you're entitled to yours and that's fine too. I'm quite educated when it comes to investing. I've bought real estate, stocks, bonds, CD's, yadda yadda. Leverage is an option, I never said it wasn't, however, if you're leveraging your own house, I think that's unnecessary risk. If you're leaving a mortage or two or a home improvement loan hovering over your home, the place where your family lives, I don't think that's good either. In my opinion, I'd rather pay all of these things off so my family doesn't have to worry and then take all the extra money and make a ton with it. Sure, making mistakes are part of the game, I make mistakes all the time, (What was I thinking when I bought Krispy Kreme?) however, I wouldn't risk anything my family would need. I wouldn't risk money I don't have and put my family in debt due to my mistake. That's just my opinion. And I'm not saying everyone does this, but it does happen all too often. There are millions of strategies to make money, mine is just one and I'm passionate about my strategy, otherwise I wouldn't take the time to write on this site, or mine, sharing my strategy. By being a passionate writer when it comes to my strategy it has achieved my goal, which is to make people think and discuss and debate and argue and get angry or enlightened. I hate reading websites where it's bland and boring and everyone agrees, there's no point in those. My point, from the beginning, was don't be a slave to lenders, to steal from Dave Ramsey. .Whether people agree with me is neither here nor there, it's an opinion and a matter of strategy. Mine works for me, if yours works for you that's awesome. I wish no bad luck on anyone (cept the creeps at CNBC.) Invest in peace... Since this is an ADVICE site, I give my OPINIONS on what I do. If you don’t like my opinions, that’s fine, it doesn’t matter and you’re entitled to yours and that’s fine too. I’m quite educated when it comes to investing. I’ve bought real estate, stocks, bonds, CD’s, yadda yadda. Leverage is an option, I never said it wasn’t, however, if you’re leveraging your own house, I think that’s unnecessary risk. If you’re leaving a mortage or two or a home improvement loan hovering over your home, the place where your family lives, I don’t think that’s good either. In my opinion, I’d rather pay all of these things off so my family doesn’t have to worry and then take all the extra money and make a ton with it.

Sure, making mistakes are part of the game, I make mistakes all the time, (What was I thinking when I bought Krispy Kreme?) however, I wouldn’t risk anything my family would need. I wouldn’t risk money I don’t have and put my family in debt due to my mistake. That’s just my opinion. And I’m not saying everyone does this, but it does happen all too often.

There are millions of strategies to make money, mine is just one and I’m passionate about my strategy, otherwise I wouldn’t take the time to write on this site, or mine, sharing my strategy. By being a passionate writer when it comes to my strategy it has achieved my goal, which is to make people think and discuss and debate and argue and get angry or enlightened. I hate reading websites where it’s bland and boring and everyone agrees, there’s no point in those.

My point, from the beginning, was don’t be a slave to lenders, to steal from Dave Ramsey. .Whether people agree with me is neither here nor there, it’s an opinion and a matter of strategy. Mine works for me, if yours works for you that’s awesome. I wish no bad luck on anyone (cept the creeps at CNBC.)

Invest in peace…

]]> by: prlinkbiz http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-13155 Mon, 20 Nov 2006 20:43:39 +0000 http://www.investorgeeks.com/articles/2006/11/16/lets-change-our-goals-around/#comment-13155 I'm not sure what your point is? Don't use leverage because you might make a mistake? You can lose it all not matter what. It's painful no matter how much you have- but it won't kill you. Look at those who have learned how to use leverage usccessfully. Like Kimber says, you learn by doing, and sometimes you make mistakes. You learn and keep going- you don't stop altogether. Well maybe some people do. My main problem with you suggesting that everyone live like you is that not everyone wants to live like you. Leverage is a valid option, like any sort of business or investing, you have to learn how to use it properly. So increase your financial education. Learn how to use different tools. Do what feels comfortable for you- if thats no debt- fine- but everyone has different goals and how we get to them is our own choice, and not one for you to judge is right or wrong. I’m not sure what your point is? Don’t use leverage because you might make a mistake? You can lose it all not matter what. It’s painful no matter how much you have- but it won’t kill you. Look at those who have learned how to use leverage usccessfully. Like Kimber says, you learn by doing, and sometimes you make mistakes. You learn and keep going- you don’t stop altogether. Well maybe some people do. My main problem with you suggesting that everyone live like you is that not everyone wants to live like you. Leverage is a valid option, like any sort of business or investing, you have to learn how to use it properly. So increase your financial education. Learn how to use different tools. Do what feels comfortable for you- if thats no debt- fine- but everyone has different goals and how we get to them is our own choice, and not one for you to judge is right or wrong.

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