cement a state of positive financial buoyancy so I can add finances to the list of things I never have to really think about again.
call me stupid but everyone is investing or saving for retirement to reach a point of work ease that you can have now without waiting 30 years or being a stock broker (who also happens to beat the curve of thousands of other like-minded brokers). it has more to do with spending patterns than investing... income to spending ratio is what its about.
think of it this way--you have very little food but 10 boxes of cereal because it's very cheap. you have $5. what do you do? conventional investing says, buy more cereal because it's cheap... and keep making smart purchases like that and you can eventually eat something. heck, even try to make more money so you can buy more cheap boxes of cereal, then you can really go crazy one day.
I say, buy $5 in milk and turn your $5 into weeks or months of food. the analogy here is this--instead of fixating on income and investments, put your budget into gear by spending that $5 on milk and reducing your spending, especially recurring costs. this puts you in an echelon above that of linear investment, as a static amount of income will produce higher ft-lbs across your reduced spending, boosting your financial effectiveness exponentially. this also will leave you more leftover which is, again, an echelon above the linear investment gains approach to finances as it allows you to compound yet again, not to mention whole different worlds of financial exploration with the same static income.
successful dragsters have torque, not speed. take a strategical bite out of financial trends and increase your budget's torque: income to spending ratio.
I always thought it would be pretty cool to build a base point of survivability on a matter of mere hundreds a month after some upfront investments for lifestyle balance of performance and convenience. Something you can make in a week at minimum wage. Then, of course, combine this with a high income career for massive financial torque and expand into the expensive areas of life without a threat of backsliding or failure. I've done it to some extent for about a year... works very well and it's an awfully stress free way to live.
- Turn $10k into the SDP to collect interest while I'm on deployment. I'm almost to that goal.
- Save $30k for my house when I get back. Well on the way to that one.
- Re-enlist in the army against my better wishes so that I'm financially secure and stable career-wise.
- Open up a roth IRA for myself
- Balance my parents' budget
- Continue to contribute 10% of my earnings to my emergency fund until I reach that goal
- Continue to save money for graduating presents for my nephews (and a few of my close friends' kids too.)
- Secure a contractor's job civilian side overseas so I can pay off my land.
- Go home and buy my land.
How do you plan to get there?
- Don't do anything stupid. Sounds simple, but as long as I stay out of trouble here, I'll make the money I need to do most of that stuff this year. And if I play my cards right, and get that contracting job, I'll own my land, my house, the house my parents will live in, and my car and all the accessories that go with having land by the age of 30. Also, I'll have my bachelor's degree by then.
How are you planning to grow your business this year?
Its not my business, but my dad's got one that I help with a lot. The goal is to get my parents financially secured, so that the business's money can go back into the business. We want to hire an artist to re-do the face of the website as well as take pictures of all of the products, and then hire a web-site designer to make a more modern, user-friendly site interface. We have some pretty established purchases and clients, but we have a lot of work to do too.
One of the things I plan on doing when I get back is downsizing the amount of product we carry to only carry the products that actually sell well.
Are you developing your personal business brand?
Hm. I've tried some approaches to make the site more warm and personal, but nothing really took off. Making blog entries was easy enough, but no one really bothered paying attention to them. Advertisers we've hired lately have all been busts, more than a couple of them I'd like to punch in the face for tricking my dad.
Do you feel like your career or business are running you instead of the other way around?
Right now, it runs us, but it's stagnant and this beast won't take off without some major overhauls. The goal is to put the money back into the business instead of needing the money to pay bills. Something I hope to accomplish by next year. If we can hire those two key things, and do it right, and then find an advertiser that actually works and a full-time employee, we'd be set. Which we could do if we didn't need the money right now.
Kantgirl: Just say "I'm feminine and I'll punch anyone who says otherwise!"
Halla74: Think your way through the world. Feel your way through life.
Cimarron: maybe Prpl will be your girl-bud
prplchknz: i don't like it
I'm probably gonna bet heavy on a market fall. I will most likely short the brazilian index, but I see room for a 30% decline(from top to bottom) on dow jones and nasdaq. I haven't been this confident in years. If someone tells you something like ''stocks haven't been this cheap since xxxx'', don't listen to this person, he's a sucker. And don't try to convince he's wrong either - save your time.
I will be back to say ''I told you'' by the end of the year.
A man builds. A parasite asks 'Where is my share?'
A man creates. A parasite says, 'What will the neighbors think?'
A man invents. A parasite says, 'Watch out, or you might tread on the toes of God... '