Does Anyone here REALLY want to become WEALTHY?!

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Does Anyone here REALLY want to become WEALTHY?!

Post  PapiChuloLeon on Sat Jan 01, 2011 8:52 pm

I've been thinking a lot about this lately. How much $ do you feel you need in order to be happy? Are you simply satisfied with graduating from a good school and getting a high paying job? Do you want to own a big company? Do you want to become a sophisticated investor and be able to live without working?

I can't even answer this question for myself. What I do know is that I do not want to work for other people for too long. Being at the mercy of someone else or a corporation bothers me. I'm happy to be growing up in this era. Companies are always downsizing and laying people off. The positive side of this is that it's teaching me a lesson, we can't rely on companies.

I lay in my bed sometimes at night thinking about what it's like to be 60. Will I be struggling to figure out how to fund my own retirement? I'm only 21, but the thought of working for years just to be able to retire has me paranoid like a motherfucker.

I'm really looking forward to input from some of the older, wiser, and more experienced people like Guest, mking, and StarFireSong.
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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  Dinny on Sat Jan 01, 2011 9:20 pm

PapiChuloLeon wrote:I've been thinking a lot about this lately. How much $ do you feel you need in order to be happy? Are you simply satisfied with graduating from a good school and getting a high paying job? Do you want to own a big company? Do you want to become a sophisticated investor and be able to live without working?

I can't even answer this question for myself. What I do know is that I do not want to work for other people for too long. Being at the mercy of someone else or a corporation bothers me. I'm happy to be growing up in this era. Companies are always downsizing and laying people off. The positive side of this is that it's teaching me a lesson, we can't rely on companies.

I lay in my bed sometimes at night thinking about what it's like to be 60. Will I be struggling to figure out how to fund my own retirement? I'm only 21, but the thought of working for years just to be able to retire has me paranoid like a motherfucker.

I'm really looking forward to input from some of the older, wiser, and more experienced people like Guest, mking, and StarFireSong.

Yeah, and likewise.

Speaking for myself, I'm as clueless as you are. At the moment, enough money for my rent, utilities, food and leisure is all I really want. But when I finish my study and I've been in my career for like... two years, I'll probably want to sell my property for something a bit bigger (not that much so, but something with more room) and more of a yard.

I've dreamed about living in a mansion before and by all means, I could have one in ten or twenty years time if my school-to-work transition goes smooth, but I now regard it as being superfluous. As it is I live in a large house (20 rooms) and I only use perhaps about three or four of them on a daily basis. The house is an absolute bitch to clean. Unused rooms collect a shit ton of dust, especially when carpeted.

I love the idea of a luxurious penthouse/apartment, but since I want to keep a lot of animals and build a koi pond, it probably isn't an option for me. Sob.

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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  PapiChuloLeon on Sat Jan 01, 2011 9:40 pm

Dinny wrote:
PapiChuloLeon wrote:I've been thinking a lot about this lately. How much $ do you feel you need in order to be happy? Are you simply satisfied with graduating from a good school and getting a high paying job? Do you want to own a big company? Do you want to become a sophisticated investor and be able to live without working?

I can't even answer this question for myself. What I do know is that I do not want to work for other people for too long. Being at the mercy of someone else or a corporation bothers me. I'm happy to be growing up in this era. Companies are always downsizing and laying people off. The positive side of this is that it's teaching me a lesson, we can't rely on companies.

I lay in my bed sometimes at night thinking about what it's like to be 60. Will I be struggling to figure out how to fund my own retirement? I'm only 21, but the thought of working for years just to be able to retire has me paranoid like a motherfucker.

I'm really looking forward to input from some of the older, wiser, and more experienced people like Guest, mking, and StarFireSong.

Yeah, and likewise.

Speaking for myself, I'm as clueless as you are. At the moment, enough money for my rent, utilities, food and leisure is all I really want. But when I finish my study and I've been in my career for like... two years, I'll probably want to sell my property for something a bit bigger (not that much so, but something with more room) and more of a yard.

I've dreamed about living in a mansion before and by all means, I could have one in ten or twenty years time if my school-to-work transition goes smooth, but I now regard it as being superfluous. As it is I live in a large house (20 rooms) and I only use perhaps about three or four of them on a daily basis. The house is an absolute bitch to clean. Unused rooms collect a shit ton of dust, especially when carpeted.

I love the idea of a luxurious penthouse/apartment, but since I want to keep a lot of animals and build a koi pond, it probably isn't an option for me. Sob.
You'll be able to pay off your house that quick? That's impressive. ARM just knows how to pick them.
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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  Dinny on Sun Jan 02, 2011 3:20 am

PapiChuloLeon wrote:
Dinny wrote:
PapiChuloLeon wrote:I've been thinking a lot about this lately. How much $ do you feel you need in order to be happy? Are you simply satisfied with graduating from a good school and getting a high paying job? Do you want to own a big company? Do you want to become a sophisticated investor and be able to live without working?

I can't even answer this question for myself. What I do know is that I do not want to work for other people for too long. Being at the mercy of someone else or a corporation bothers me. I'm happy to be growing up in this era. Companies are always downsizing and laying people off. The positive side of this is that it's teaching me a lesson, we can't rely on companies.

I lay in my bed sometimes at night thinking about what it's like to be 60. Will I be struggling to figure out how to fund my own retirement? I'm only 21, but the thought of working for years just to be able to retire has me paranoid like a motherfucker.

I'm really looking forward to input from some of the older, wiser, and more experienced people like Guest, mking, and StarFireSong.

Yeah, and likewise.

Speaking for myself, I'm as clueless as you are. At the moment, enough money for my rent, utilities, food and leisure is all I really want. But when I finish my study and I've been in my career for like... two years, I'll probably want to sell my property for something a bit bigger (not that much so, but something with more room) and more of a yard.

I've dreamed about living in a mansion before and by all means, I could have one in ten or twenty years time if my school-to-work transition goes smooth, but I now regard it as being superfluous. As it is I live in a large house (20 rooms) and I only use perhaps about three or four of them on a daily basis. The house is an absolute bitch to clean. Unused rooms collect a shit ton of dust, especially when carpeted.

I love the idea of a luxurious penthouse/apartment, but since I want to keep a lot of animals and build a koi pond, it probably isn't an option for me. Sob.
You'll be able to pay off your house that quick? That's impressive. ARM just knows how to pick them.

Oh heavens no. By then the house will only be paid off something like 60%: Its a 250k property. I've paid 80k upfront out of my inheritance, my parents have paid 50k. We have tenants for a year. After that, I move in for as long as I like, but I finish my study and can get into my law career in three years time.

Afterall, you don't need to have paid off a house to sell it. Almost no one selling their house has paid it off.

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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  Guest on Mon Jan 03, 2011 3:35 pm

Wealth and happiness do not necessarily go together. With that said, I would certainly like to have enough wealth to enjoy life to the fullest. I am 40 and have made some good decisions that allow me to live an average American lifestyle. I am far from wealthy. I live in a modest home. Both of our primary vehicles are paid for. My wife's truck will get replaced this year and I will finance most of it. I have a pension, a 401k and some basic investments.

My advice...go for it and start now. Make sure you are investing a minimum of 15% of your income into a diverse portfolio. Talk to a financial planner now. It doesn't matter if you do not know where you want to be at age 50 or 60, only that you have the means to allow you options. Cash is king...gold, real estate, commodities (if you know what you're doing), etc. I am heavily into foreign markets right now (hate to admit it) so my average ROI is about 25%, nearly triple the average.

Having money is having security and options, which means peace of mind. That is pretty close to happiness.

Of course, true happiness comes from within.


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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  MKing on Mon Jan 03, 2011 10:58 pm

PapiChuloLeon wrote:I've been thinking a lot about this lately. How much $ do you feel you need in order to be happy? Are you simply satisfied with graduating from a good school and getting a high paying job? Do you want to own a big company? Do you want to become a sophisticated investor and be able to live without working?

I can't even answer this question for myself. What I do know is that I do not want to work for other people for too long. Being at the mercy of someone else or a corporation bothers me. I'm happy to be growing up in this era. Companies are always downsizing and laying people off. The positive side of this is that it's teaching me a lesson, we can't rely on companies.

I lay in my bed sometimes at night thinking about what it's like to be 60. Will I be struggling to figure out how to fund my own retirement? I'm only 21, but the thought of working for years just to be able to retire has me paranoid like a motherfucker.

I'm really looking forward to input from some of the older, wiser, and more experienced people like Guest, mking, and StarFireSong.

That's a really good question, unfortunately, it's also impossible to answer. It's hard to say how much money would make me happy, or if having a lot of money would make me happy at all. If I was you I wouldn't beat myself up over worry about how things will be in your 60s. Honestly, if you are looking forward to having a nice retirement plan, then It's all about what moves/actions you take now. You said it yourself; that you don't want to work for other people for the rest of your life. So it's probably in your best interest to finish school for a business degree or take the lazy route and become a street entrepreneur.

I personally feel that owning, or being a part of an independent business is the best way to go. If you're working for somebody who has their own business, it's another way for you to adsorb the business aspects of things, trust me, I know. It gives you a good insight on how to handle things. If you're going to invest in something make sure you stand 100% behind it. A lot of people get involved with investing and shit turns out bad for them because they weren't sure if they were making the right call to begin with, all I am saying is if you want to become an investor make sure you have full knowledge of what you are investing in, and secondly, try to invest in things that you have the utmost confidence in, thirdly, make sure your money is correct, you can't be a broke bitch going around trying to investing in things. That's All.
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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  PapiChuloLeon on Mon Jan 03, 2011 11:53 pm

MKing wrote:
PapiChuloLeon wrote:I've been thinking a lot about this lately. How much $ do you feel you need in order to be happy? Are you simply satisfied with graduating from a good school and getting a high paying job? Do you want to own a big company? Do you want to become a sophisticated investor and be able to live without working?

I can't even answer this question for myself. What I do know is that I do not want to work for other people for too long. Being at the mercy of someone else or a corporation bothers me. I'm happy to be growing up in this era. Companies are always downsizing and laying people off. The positive side of this is that it's teaching me a lesson, we can't rely on companies.

I lay in my bed sometimes at night thinking about what it's like to be 60. Will I be struggling to figure out how to fund my own retirement? I'm only 21, but the thought of working for years just to be able to retire has me paranoid like a motherfucker.

I'm really looking forward to input from some of the older, wiser, and more experienced people like Guest, mking, and StarFireSong.

That's a really good question, unfortunately, it's also impossible to answer. It's hard to say how much money would make me happy, or if having a lot of money would make me happy at all. If I was you I wouldn't beat myself up over worry about how things will be in your 60s. Honestly, if you are looking forward to having a nice retirement plan, then It's all about what moves/actions you take now. You said it yourself; that you don't want to work for other people for the rest of your life. So it's probably in your best interest to finish school for a business degree or take the lazy route and become a street entrepreneur.

I personally feel that owning, or being a part of an independent business is the best way to go. If you're working for somebody who has their own business, it's another way for you to adsorb the business aspects of things, trust me, I know. It gives you a good insight on how to handle things. If you're going to invest in something make sure you stand 100% behind it. A lot of people get involved with investing and shit turns out bad for them because they weren't sure if they were making the right call to begin with, all I am saying is if you want to become an investor make sure you have full knowledge of what you are investing in, and secondly, try to invest in things that you have the utmost confidence in, thirdly, make sure your money is correct, you can't be a broke bitch going around trying to investing in things. That's All.
Do you work in a startup company? Very Happy
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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  MKing on Tue Jan 04, 2011 1:19 am

PapiChuloLeon wrote:
MKing wrote:
PapiChuloLeon wrote:I've been thinking a lot about this lately. How much $ do you feel you need in order to be happy? Are you simply satisfied with graduating from a good school and getting a high paying job? Do you want to own a big company? Do you want to become a sophisticated investor and be able to live without working?

I can't even answer this question for myself. What I do know is that I do not want to work for other people for too long. Being at the mercy of someone else or a corporation bothers me. I'm happy to be growing up in this era. Companies are always downsizing and laying people off. The positive side of this is that it's teaching me a lesson, we can't rely on companies.

I lay in my bed sometimes at night thinking about what it's like to be 60. Will I be struggling to figure out how to fund my own retirement? I'm only 21, but the thought of working for years just to be able to retire has me paranoid like a motherfucker.

I'm really looking forward to input from some of the older, wiser, and more experienced people like Guest, mking, and StarFireSong.

That's a really good question, unfortunately, it's also impossible to answer. It's hard to say how much money would make me happy, or if having a lot of money would make me happy at all. If I was you I wouldn't beat myself up over worry about how things will be in your 60s. Honestly, if you are looking forward to having a nice retirement plan, then It's all about what moves/actions you take now. You said it yourself; that you don't want to work for other people for the rest of your life. So it's probably in your best interest to finish school for a business degree or take the lazy route and become a street entrepreneur.

I personally feel that owning, or being a part of an independent business is the best way to go. If you're working for somebody who has their own business, it's another way for you to adsorb the business aspects of things, trust me, I know. It gives you a good insight on how to handle things. If you're going to invest in something make sure you stand 100% behind it. A lot of people get involved with investing and shit turns out bad for them because they weren't sure if they were making the right call to begin with, all I am saying is if you want to become an investor make sure you have full knowledge of what you are investing in, and secondly, try to invest in things that you have the utmost confidence in, thirdly, make sure your money is correct, you can't be a broke bitch going around trying to investing in things. That's All.
Do you work in a startup company? Very Happy

Yes (not a startup, tho). I have two jobs, actually, full time and part time, but this full time job is becoming a headache. There are too many childish people working there, it's stressing me out.

Anyhow, Yes, I do work for a independent business. My mother owns a group home. I work part time at her business. Anything that an errand boy, or a secretary would do, I pretty much do the same. She started her business around the time I was maybe 13 or 14, so no, it's not a startup one. It's a nice business, and it pays good money (for her, anyway). At first I couldn't see myself taking over her business, because running a group home can be a bit much, if you don't have the patience, but slowly over time I adjusted, and I actually like it now...............that I am older. Sooooo there you have it......so yeah, enough about me.
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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  StarFireSong on Tue Jan 04, 2011 12:10 pm

Interesting thread.

I've never been one for money; I hate that we're so reliant on it. If you want to buy something, you need money, & if you don't, then you're screwed, especially if you don't have a support system in place. Even then, you still might be screwed. I've seen the lack of it make too many people struggle, including my own family. There were several times when I stepped in to help them out, sometimes without them knowing it.

To make me "happy"--although money will never make me happy--all I need is enough to cover the basics (food, water, clothing, shelter) & to pay my bills, along with a little left over to sock away for a rainy day. I don't need or desire to be like Bill Gates, Steve Jobs, or Oprah to the point where I'm scrambling to give away the excess because I have no need for it.

Job-wise, I don't mind working for someone else; I do better this way anyway. I like being the person's right-hand man & working behind the scenes. I get a better handle on the pulse, so to speak, of the place & can tell (if the person wants it) what areas need fixing & what areas are doing fantastic. As long as I occasionally get some sort of recognition--just enough to let me know that I'm appreciated--I'll be happy as a clam.

I do hear you on Social Security, especially now when things are so rocky. In all honesty, I'd be surprised if it's still around 35 years from now (when I turn 60). I don't know if this has been brought up somewhere but what happens to those poor souls who retire thinking they're okay, & then Social Security up & dies on them? Do we have something in place so they don't have to go back to work?

To be truly happy, all I need is to be satisfied with my job, with myself, & know that my friends & family will always be around me. That's it. I don't need anything more than that. Smile

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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  PapiChuloLeon on Thu Jan 06, 2011 5:28 pm

I was talking to the son of a pediatric today. His father runs his own practice, works 13 hours a day, and makes around $400,000 annually. My interesting new friend tells me money is nice but life is about living.

It has me thinking. His father is making more money than most people will ever make, but the gentleman isn't "free". 13 hours of work + 8 hours of sleep + x amount of time to eat, shower, put dick in wife/girlfriend/whoever = the whole damn day.

Is 400Gs a year from working the whole day every damn day better than 100Gs annually from passive income or even the median 50Gs a year through a regular 9-5 job? I don't think it is.
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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  MKing on Thu Jan 06, 2011 10:10 pm

StarFireSong wrote:I hate that we're so reliant on it.

You know what I hate, Star?................................Wearing Shoes. I hate wearing shoes. I wish that I lived in a community were being bare feet is considered OK. And being a size 13 doesn't make the situation any better.

THAT WAS SO RANDOM. Totally Off Topic. Sorry about that, carry on, people.
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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  lilith on Tue Jan 11, 2011 12:38 pm

Loved reading everyone's replies.

Zero (if not negative) interest in business. I don't want money towards a house in the suburbs or in a city for the rest of my life. Farming is a 12+ hr/day job, but I've been considering having a cheese farm when I'm older. Jobwise, I have too much energy for a 9-5 job. I'm interested in a few things: nursing for the military, possible science career in alternative energy, working for the UN, becoming an ambassador etc. The main focus is how I feel at the end of the day from my job, that someone else benefited from something I did, and that I have somewhere good to eat and lie down, not the money from it. So the answer is "very minimal".

BTW MKing, I know someone who runs barefoot in the city and on most of the trails around here. He swears it is better "bio-mechanically".
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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  lilith on Tue Jan 11, 2011 12:39 pm

PapiChuloLeon wrote:I was talking to the son of a pediatric today. His father runs his own practice, works 13 hours a day, and makes around $400,000 annually. My interesting new friend tells me money is nice but life is about living.

It has me thinking. His father is making more money than most people will ever make, but the gentleman isn't "free". 13 hours of work + 8 hours of sleep + x amount of time to eat, shower, put dick in wife/girlfriend/whoever = the whole damn day.

Is 400Gs a year from working the whole day every damn day better than 100Gs annually from passive income or even the median 50Gs a year through a regular 9-5 job? I don't think it is.

I'm glad to see someone say this!
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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  StarFireSong on Tue Jan 11, 2011 1:08 pm

Mking: You have NO idea how badly you just cracked me up. I roffl'd. LOL. (I spend most days going barefoot, too. MAJOR change from living in my sneakers all the time, & it's very... pleasurable. Razz)

lilith wrote:The main focus is how I feel at the end of the day from my job, that someone else benefited from something I did

HEAR HEAR, Clare. That's exactly it for me. Smile

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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  Guest on Tue Jan 11, 2011 4:00 pm

OK, I'll go ahead and say it...I would like to be extremely wealthy. I don't really want to work my entire life away to get there but I would still like it. I do not consider myself a materialistic person at all but when I do buy something, I like it to be the best quality that I can afford.

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Re: Does Anyone here REALLY want to become WEALTHY?!

Post  MKing on Wed Jan 12, 2011 11:04 am

StarFireSong wrote:Mking: You have NO idea how badly you just cracked me up. I roffl'd. LOL. (I spend most days going barefoot, too. MAJOR change from living in my sneakers all the time, & it's very... pleasurable. Razz)

I KNNNOOOOWWWW

That's why I love you, Star..............you just GET IT, shoes are a PAIN. Shaking Head
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