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Joined: Aug 2017
Posts: 9,111 Likes: 7
Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2017
Posts: 9,111 Likes: 7 |
After what the government rapes you for.....
Live off of 40%
Invest another 40%
Take the last 20% and make an emergency fund, something that is liquid. As you accumulate some investment power, this may move around. Also, as your emergency fund becomes populated, donate to needy causes, 5-10% year. This will make you more money, way beyond compounding investment income.
It's simple.
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Joined: May 2011
Posts: 56,342 Likes: 9
Campfire Kahuna
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Campfire Kahuna
Joined: May 2011
Posts: 56,342 Likes: 9 |
Rakin' up those leaves and rakin' in that minumum wage.
_______________________________________________________
An 8 dollar driveway boy living in a T-111 shack
LOL
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Joined: Feb 2010
Posts: 3,676
Campfire Tracker
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Campfire Tracker
Joined: Feb 2010
Posts: 3,676 |
Gus, they say the Good Lord must love poor folks, he sure made a lot of them.
: That's a Will Rogers quote, I believe. Jim
BE STRONG IN THE LORD, AND IN HIS MIGHTY POWER. ~ Ephesians 6:10
Socialism is a philosophy of failure,
the creed of ignorance,
and the gospel of envy,
its inherent virtue is the equal sharing of misery.
--Winston Churchill
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Joined: Aug 2001
Posts: 4,896
Campfire Tracker
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Campfire Tracker
Joined: Aug 2001
Posts: 4,896 |
Well, he has the Democrats helping him.
Some mornings, it just does not feel worth it to chew through the straps!~
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Joined: Oct 2004
Posts: 23,374 Likes: 2
Campfire Ranger
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Campfire Ranger
Joined: Oct 2004
Posts: 23,374 Likes: 2 |
not join the military after high school.
not go to a trade school.
not become a engineer.
not become a teacher.
ok. then what?
i mean, what?
tell us please.
Define "rich".
"The Democrat Party looks like Titanic survivors. Partying and celebrating one moment, and huddled in lifeboats freezing the next". Hatari 2017
"Hokey religions and ancient weapons are no match for a good blaster at your side, kid." Han Solo
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Joined: Nov 2017
Posts: 1,188
Campfire Regular
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Campfire Regular
Joined: Nov 2017
Posts: 1,188 |
Run for political office, and live off the public dole! ^^^^This!
The lack of planning on your part does not constitute an emergency on my part!
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Joined: Jan 2015
Posts: 2,693 Likes: 1
Campfire Regular
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Campfire Regular
Joined: Jan 2015
Posts: 2,693 Likes: 1 |
The quickest path to wealth is politics.
The easiest path to wealth is to inherit it or marry it.
The best path to wealth is to earn it. Earn it in whatever path you choose. Well stated! One of the reasons I have such immense respect for President Trump is due to the fact that his children seem not to have been spoiled by the wealth they were born into.
The biggest problem our country has is not systemic racism, it's systemic stupidity.
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Joined: Nov 2007
Posts: 29,663 Likes: 5
Campfire Ranger
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Campfire Ranger
Joined: Nov 2007
Posts: 29,663 Likes: 5 |
Become a politician and learn early to sacrifice principles for long term self aggrandizement.
Maybe sell drugs.
Certainly virtue signal like crazy on social media.
I’m not rich and that’s fine.
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Joined: Nov 2017
Posts: 351
Campfire Member
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Campfire Member
Joined: Nov 2017
Posts: 351 |
not join the military after high school.
not go to a trade school.
not become a engineer.
not become a teacher.
ok. then what?
i mean, what?
tell us please.
What's wrong with any of these? Seriously, except maybe the teacher. But even a teacher can make good money at the right job. If I had it to do over I would have joined the military after college and retired after twenty years then go out and get a great job with the experience gained.
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Joined: Dec 2013
Posts: 44,556 Likes: 12
Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2013
Posts: 44,556 Likes: 12 |
I have an old friend who used to work for the phone company when we were in our 20's. He quit and started his own Electrical company. Fishes from his 40' Open Fisherman now.
I have another old friend who used to own the best LGS around here. He sold it to go back full time in his AC business. Doing much better than he was at the LGS. He just put a brand new AC system in one of my rentals at a very good price.
Got another old friend that just retired from his plumbing business. Runs a drag car ('66 Nova) and builds street rods. Looking at building a house on 100-150 acres in TN right now.
You don't have to be a college graduate to be successful. Hard work in a good trade can get it done.
And, these guys are NOT pajama boys.
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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Joined: Aug 2005
Posts: 26,337
Campfire Ranger
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OP
Campfire Ranger
Joined: Aug 2005
Posts: 26,337 |
just got back from the eye doctor for an annual exam and have this to say:
a guy back in the old rural neighborhood was a rural mail carrier.
also did other things on the side since the route didn't take all day.
his wife enjoyed dabbling in real estate. the local town was growing.
he retired from the us postal service, and they're knee deep in rental real estate.
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Joined: Oct 2011
Posts: 1,153
Campfire Regular
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Campfire Regular
Joined: Oct 2011
Posts: 1,153 |
Save 10% of every paycheck for the first 25 yrs of your working life and invest in diversified index funds If that 10% comes from a salary of decent size this is a good recipe for success.
NRA Benefactor Member
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Joined: Sep 2017
Posts: 4,378
Campfire Tracker
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Campfire Tracker
Joined: Sep 2017
Posts: 4,378 |
Own a company. I've seen it too many times where guys that worked for a place to get some experience and then took a flier and bought or started a smaller similar company and the thing took off. I remember having lunch with a guy who was considering buying a used machine to start his factory and I convinced him that our company could work with him on purchasing a new machine and he did. Every time I drive past that big converting plant in Oshkosh that he started, I say to myself I got that guy started. Happened a lot too. Another owner told me that he was paying off his 70K converting machine in 16 days and the rest is... Real lucrative and one machine becomes two then more and next thing Ron has sold the company and is out on his yacht somewhere.
My other auto is a .45
The bitterness of poor quality is remembered long after the sweetness of low price has faded from memory
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Joined: Jun 2012
Posts: 4,774
Campfire Tracker
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Campfire Tracker
Joined: Jun 2012
Posts: 4,774 |
Pick a career, work hard, avoid women. You'll be fine.
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Joined: Aug 2005
Posts: 26,337
Campfire Ranger
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OP
Campfire Ranger
Joined: Aug 2005
Posts: 26,337 |
Own a company. I've seen it too many times where guys that worked for a place to get some experience and then took a flier and bought or started a smaller similar company and the thing took off. I remember having lunch with a guy who was considering buying a used machine to start his factory and I convinced him that our company could work with him on purchasing a new machine and he did. Every time I drive past that big converting plant in Oshkosh that he started, I say to myself I got that guy started. Happened a lot too. Another owner told me that he was paying off his 70K converting machine in 16 days and the rest is... Real lucrative and one machine becomes two then more and next thing Ron has sold the company and is out on his yacht somewhere. your experience and related outcomes makes good sense. a growing economy does not hurt either. someone once told me, and i didn't understand it, was to start a company, get it up to 10 million or so in sales, and when the young person/son/daughter gets up to speed, slice off a piece of it for them. maybe a 1 million dollar piece of the action, and let them get wet behind the ears. i don't know if that would work or not, but it sounds like a good plan. but first grow a company to 10 million in sales.
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Joined: Jun 2012
Posts: 4,555
Campfire Tracker
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Campfire Tracker
Joined: Jun 2012
Posts: 4,555 |
My uncle claims to have saved 33% of every paycheck he ever made. Chemical engineer in the chalk industry. Invested from the get go. Never bought a new car, millionaire and my aunt still hung clothes outside to dry....wouldn't even buy her a clothes dryer. I don't know if he ever really enjoyed any of his earnings. But having said that, he has given all 6 of his grandkids the max gift each year on their birthday, graduating highschool with probably 300k or so in the bank each...that's not bad to start out on.
Last edited by killerv; 11/07/19.
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Joined: Aug 2005
Posts: 26,337
Campfire Ranger
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OP
Campfire Ranger
Joined: Aug 2005
Posts: 26,337 |
My uncle claims to have saved 33% of every paycheck he ever made. Chemical engineer in the chalk industry. Invested from the get go. Never bought a new car, millionaire and my aunt still hung clothes outside to dry....wouldn't even buy her a clothes dryer. I don't know if he ever really enjoyed any of his earnings. But having said that, he has given all 6 of his grandkids the max gift each year on their birthday, graduating highschool with probably 300k or so in the bank each...that's not bad to start out on. interesting what long-term savings can amount up to. speaking of chalk, plenty of landowners and chalk companies in middle ga. have made a ton of money. and let's not forget the train companies who hauled various types of the processed product. lot's of houses to be painted in america, plus other demands as well.
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Joined: Aug 2005
Posts: 10,773
Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2005
Posts: 10,773 |
The quickest path to wealth is politics.
The easiest path to wealth is to inherit it or marry it.
The best path to wealth is to earn it. Earn it in whatever path you choose. Excellent.
A true sportsman counts his achievements in proportion to the effort involved and fairness of the sport. - S. Pope
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Joined: Feb 2004
Posts: 46,745
Campfire 'Bwana
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Campfire 'Bwana
Joined: Feb 2004
Posts: 46,745 |
Camp is where you make it.
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