Know what else doesn't need repeating multiple times? Bringing up my bad natty investment in unrelated threads to try to discredit my posts, or simply be a jackass.Quote:
I do not think we need it repeated multiple times, we can do the math.
This business is an S-Corp of which I am 100% shareholder. There are far too many employees for a SEP plan to make sense. So, I take as little a salary as possible, and there's no need for me to contribute to the retirement account and accept the company match from myself. It's a pass through by distributions. Instead of piling money into the 401k, I choose to deploy that capital into opportunities that produce are far better(usually) and quicker return, thus allowing me to do it over and over again. Some of those are alternative investments, some of those are other businesses where I have partners.Brian Earl Spilner said:
I mean he also says he doesn't participate in a 401k, so I'm thinking he doesn't quite understand it.
Cyp0111 said:
I will stop making fun of you for trading leveraged natty with no support
This is an interesting breed.YouBet said:
I would add one more. They just want to win and are ultra competitive.
My boss is owner/CEO of our company. I suspect he's wealthier than probably anyone that regularly posts on this thread. His biggest driver is doing what we do better than anyone else.
He doesn't care about free time. The dude never sleeps and is constantly generating ideas and changes. I have to put the brakes on him at times so I can get his first idea done when he's already on idea #8. He's a classic entrepreneur in that he's fearless and failure doesn't impact him. He's had companies that failed spectacularly and just starts over with the next one.
Thankfully, he's a down to earth, cool dude who you would never really know was all that wealthy because he doesn't talk about it and doesn't really flash it.
62strat said:this idealism could apply to a homeless person lol.I Am A Critic said:
To me, being wealthy means being able to choose what I do with my time and not give a f what anyone else thinks. It's not a dollar amount.
Leveraged ETF's are not the issue, the particular commodity I bet on was. Just like options themselves are not the problem when one of them goes sideways, as I'm sure you'd say.Heineken-Ashi said:Cyp0111 said:
I will stop making fun of you for trading leveraged natty with no support
I'm actually very proud of how far you've come risk management wise. Stay on top of it.Brian Earl Spilner said:Leveraged ETF's are not the issue, the particular commodity I bet on was. Just like options themselves are not the problem when one of them goes sideways, as I'm sure you'd say.Heineken-Ashi said:Cyp0111 said:
I will stop making fun of you for trading leveraged natty with no support
My leveraged trading has been nothing but profitable outside of NG/BOIL.
But that's for another thread.
EvenPar said:This business is an S-Corp of which I am 100% shareholder. There are far too many employees for a SEP plan to make sense. So, I take as little a salary as possible, and there's no need for me to contribute to the retirement account and accept the company match from myself. It's a pass through by distributions. Instead of piling money into the 401k, I choose to deploy that capital into opportunities that produce are far better(usually) and quicker return, thus allowing me to do it over and over again. Some of those are alternative investments, some of those are other businesses where I have partners.Brian Earl Spilner said:
I mean he also says he doesn't participate in a 401k, so I'm thinking he doesn't quite understand it.
So I'm thinking you aren't a business owner.
sockerton said:
This thread is getting weird. I'm 38, married with 3 kids and I'm worth 3.5MM today. I'm a worker bee engineer with a flexible job. All I have done is invest in the s&p500 and managed not to make any stupid emotional decisions. To me that's all it takes.
62strat said:
Starting to sound like house hunters in here.
'I'm a yoga instructor, and my boyfriend is a rafting guide, our budget is $1.3m.'
I'm 33 with 3 kids and wife stays home. I make $80k/yr, only invested $50 a week in mutual funds and it's worth $1m + today.
Brian Earl Spilner said:sockerton said:
This thread is getting weird. I'm 38, married with 3 kids and I'm worth 3.5MM today. I'm a worker bee engineer with a flexible job. All I have done is invest in the s&p500 and managed not to make any stupid emotional decisions. To me that's all it takes.
You're a sucker that's been programmed to think this way!
Medaggie said:
I think its the complete opposite. Most people of wealth, esp those who er self made do not want to flaunt it. Most people who meet me have no idea that I am well off. I wear shorts and a tshift 90% of the time. I have one suit I only wear for weddings. Only other time I wear slacks is to church.
When I go to the golf course, I don't look like I belong. I go to the Gym wearing 10 year old nike shorts when everyone else has Lulu. The only Lulu I own is b/c my wife was sick of me looking like a gym slob.
I have no interest comparing bank accounts and I am no better than the next person just because I found success.
I only share my stories on here because its anonymous and I think it helps motivate people to do well. I wish I had a mentor when I was young. Prob only 1 or 2 people on here know my true wealth because I have used them on a professional basis.
62strat said:
Starting to sound like house hunters in here.
'I'm a yoga instructor, and my boyfriend is a rafting guide, our budget is $1.3m.'
I'm 33 with 3 kids and wife stays home. I make $80k/yr, only invested $50 a week in mutual funds and it's worth $1m + today.
62strat said:
Starting to sound like house hunters in here.
'I'm a yoga instructor, and my boyfriend is a rafting guide, our budget is $1.3m.'
I'm 33 with 3 kids and wife stays home. I make $80k/yr, only invested $50 a week in mutual funds and it's worth $1m + today.
AgsMyDude said:
45M here bringing in $600k
My wife is a SAHM to our 3 kids (13, 9, 8). Her OFs brings in ~$300K
The kids each run their own businesses and bring in a combined $750k that they see none of until 18.
We're worth ~11.5M today.
Ray Guy said:
Amazing stuff. 3.5MM at the 10% rate we had over the last 16 years would imply annual saving of 100k since age 22. Bravo! Almost seems unrealistic. What's the real catalyst? Huh? Tell us. Your future adult kids will be living guuuuuuud. Lame childhood though. Also, you should treat yo self like Zach Morris
Kansas Kid said:62strat said:
Starting to sound like house hunters in here.
'I'm a yoga instructor, and my boyfriend is a rafting guide, our budget is $1.3m.'
I'm 33 with 3 kids and wife stays home. I make $80k/yr, only invested $50 a week in mutual funds and it's worth $1m + today.
My observation has been the vast majority of people with real wealth (>$5mm) would never say anything about it. I think it fits for most people on random message boards. If they have it, they won't say it here. I am not saying everyone on this board but I doubt everyone making their claims of tremendous wealth is telling the truth.
Most people with fancy house, toys, cars, etc rarely have any real wealth because they spend everything they have. They are also the ones that are quick to tell you what they spent for their fancy stuff.
please provide a link for research purposesAgsMyDude said:
45M here bringing in $600k
My wife is a SAHM to our 3 kids (13, 9, 8). Her OFs brings in ~$300K
The kids each run their own businesses and bring in a combined $750k that they see none of until 18.
We're worth ~11.5M today.
Kansas Kid said:AgsMyDude said:
45M here bringing in $600k
My wife is a SAHM to our 3 kids (13, 9, 8). Her OFs brings in ~$300K
The kids each run their own businesses and bring in a combined $750k that they see none of until 18.
We're worth ~11.5M today.
Your kids are total slackers. You need to crack the whip on them a lot harder.
