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Serious question for Everyone:

 
Billy ~
User ID: 962198
United States
03/06/2011 05:37 PM
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Re: Serious question for Everyone:
Well to be honest, the answer is Zero new income. Investment income brings in enough to be self sustaining...
 Quoting: BRIEF


That's alot of capital gains taxes...no?

What type of investments, if you don't mind me asking?
 Quoting: Billy ~ 962198


I won't recommend specific investments simply because I don't want the responsibility of anyone losing money in them...because it happens...and you should only invest if you are in it long term and have a sufficient emergency fund and you are debt free...however:

check.

If you meet the requirements above, I look for mutual funds that have a minimum of ten years average of 10% or better in four categories:

Growth

Growth and income

Aggressive Growth

International

I put 25% in each...


"Long term" to me is 5 years or more...and never invest money that you may need short term such as for emergency hospital, loss of job, whatever...
 Quoting: BRIEF


Thank you for responding, I appreciate your answer and your posts...I suspect quite likely time and amount of investment are the keys I am missing.

Sincerely,


Billy Bones
Moving

User ID: 1267479
United States
03/06/2011 05:37 PM
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Re: Serious question for Everyone:
Interesting, I came from a home where my mom spent every dime and the next one too. Sort of a learning curve for me until I decided I didn't want to live that way.
BRIEF
Rebel with morals

User ID: 1278642
United States
03/06/2011 05:43 PM

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Re: Serious question for Everyone:
Well to be honest, the answer is Zero new income. Investment income brings in enough to be self sustaining...
 Quoting: BRIEF


That's alot of capital gains taxes...no?

What type of investments, if you don't mind me asking?
 Quoting: Billy ~ 962198


I won't recommend specific investments simply because I don't want the responsibility of anyone losing money in them...because it happens...and you should only invest if you are in it long term and have a sufficient emergency fund and you are debt free...however:

check.

If you meet the requirements above, I look for mutual funds that have a minimum of ten years average of 10% or better in four categories:

Growth

Growth and income

Aggressive Growth

International

I put 25% in each...


"Long term" to me is 5 years or more...and never invest money that you may need short term such as for emergency hospital, loss of job, whatever...
 Quoting: BRIEF


Thank you for responding, I appreciate your answer and your posts...I suspect quite likely time and amount of investment are the keys I am missing.

Sincerely,


Billy Bones
 Quoting: Billy ~ 962198


Well yeah, if you had caught my many other "lectures" you'd know what I describe as the mathematical phenomenon of exponential growth...it can work for you or, like most, against you...

Once you have no debt and no payments of any kind, it's pretty easy to become wealthy alarmingly fast...Take your house payment, car payment, credit card payment, and any another payment and instead of giving it to the bank...simply pay yourself :)
With freedom comes responsibility.

Heterosexual pride!

Briefcut4892
BRIEF
Rebel with morals

User ID: 1278642
United States
03/06/2011 05:46 PM

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Re: Serious question for Everyone:
Interesting, I came from a home where my mom spent every dime and the next one too. Sort of a learning curve for me until I decided I didn't want to live that way.
 Quoting: Moving


Good things come from those that finally stand up and say:

Enough is enough and I refuse to live like this!
With freedom comes responsibility.

Heterosexual pride!

Briefcut4892

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