Recruiting forum off topic thread (no politics, covid, or hot button issues)

#16,576
#16,576
Jackcrevol said:
bingo. it's mind blowing. really.
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Pretty wild that it's that simple. People need to know this when they're young. You can do it when you're older, it's just a lot harder to change paths when you've already chosen one. Even when you know it, you still have to have the work ethic to go out and do it. That's probably what separates a lot of people.
 
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#16,577
#16,577
Enki_Amenra said:
Most people can't understand. Most people would be happy if they never had to worry about money and could buy whatever they want. Some of these wealthy people who've been at it for generations could grant that wish to dozens or more and never notice it on their balance sheet. . . i'd bet most people would be absolutely shocked if they saw the assets of a lot of them.

IMO:

Poor person = get a job and never own anything, pour their money into rent, leases, etc.

Middle class person = get a job and pour your money into a mortgage and maybe a piece of land or 2 and toys.

Rich person = get a job and pour your money into assets, like a business, land development, etc then use money from assets to buy stuff.

Wealthy person = someone whose parents or grandparents were rich people and taught them the rich man trick.
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I've had to bust my ass just to be middle class. I'm 54.

My kids are in their early 20s. Just getting to middle class for the younger generation seems 10x harder than my age group
 
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#16,581
#16,581
screenthis said:
Do let me know when your 'getting rich' course will be scheduled. Sure, I'm older now but who can't use money.
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That should have started when you were young with matching 401k and staying outta debt. Not saying you are. Typically, people underestimate the power of matching 401k and having money aside in something like s&p500, from their 20’s or even 30’s.
 
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#16,582
#16,582
Enki_Amenra said:
Most people can't understand. Most people would be happy if they never had to worry about money and could buy whatever they want. Some of these wealthy people who've been at it for generations could grant that wish to dozens or more and never notice it on their balance sheet. . . i'd bet most people would be absolutely shocked if they saw the assets of a lot of them.

IMO:

Poor person = get a job and never own anything, pour their money into rent, leases, etc.

Middle class person = get a job and pour your money into a mortgage and maybe a piece of land or 2 and toys.

Rich person = get a job and pour your money into assets, like a business, land development, etc then use money from assets to buy stuff.

Wealthy person = someone whose parents or grandparents were rich people and taught them the rich man trick.
Click to expand...
My wife had $1000 in her bank account when she graduated college. She worked night shift as a supervisor at a factory for 7 years, worked every weekend and every overtime they'd let her. She always had multiple roommates. She never ate out, only bought second hand clothes, always drove her old car from high school.

She paid off her house before she was 30.

Poor people can't live the typical American lifestyle AND build wealth, but a good number (not all) could build wealth and move out of lower income if they choose not to live the typical American lifestyle.

I can't tell you how many people I've heard complaining about the ceiling for poor people while they're on a brand new phone and watching one of their five streaming subscriptions.
 
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#16,584
#16,584
jave36 said:
My wife had $1000 in her bank account when she graduated college. She worked night shift as a supervisor at a factory for 7 years, worked every weekend and every overtime they'd let her. She always had multiple roommates. She never ate out, only bought second hand clothes, always drove her old car from high school.

She paid off her house before she was 30.

Poor people can't live the typical American lifestyle AND build wealth, but a good number (not all) could build wealth and move out of lower income if they choose not to live the typical American lifestyle.

I can't tell you how many people I've heard complaining about the ceiling for poor people while they're on a brand new phone and watching one of their five streaming subscriptions.
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B-b-but the US market built on mass consumerism will collapse if people get back to being frugal and saving

time_is_a_flat_circle_gif_5.gif
 
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#16,586
#16,586
Volsdeep4 said:
That should have started when you were young with matching 401k and staying outta debt. Not saying you are. Typically, people underestimate the power of matching 401k and having money aside in something like s&p500, from their 20’s or even 30’s.
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Yes to this. Now, I did that 'smart stuff', went through a tough stretch in Detroit....and, well...bye by 401K...started again in my 40's and here we are.
 
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#16,588
#16,588
Volsdeep4 said:
When life happens it sucks. I hope you recover nicely and are taking advantage of the nice dips we’re having in this market
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Yea, that's my point. Clearly, starting young and compounding over time is the way to go. It's smart. And, I thought I was smart and well planned (except grad school took my 20s). Then, well, life happened.
 
#16,591
#16,591
Devo182 said:
Buy crypto in 2009 >>> HODL >>> Profit


View attachment 730610
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a sign that says collect underpants phase 1 phase 2 phase 3 and collect underpants profit
 
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