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  1. #31
    Senior Member Survive & Stay Free's Avatar
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    I dont set precise career and money goals like this to be honest, I read about how the most unhappy people are those that do and fail to meet their goals, even if their circumstances HAVE improved on what they were when they made the plan in the first place.

  2. #32
    Doesn't Read Your Posts Haight's Avatar
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    Gratitude is the key to happiness (which is the basis of what your read). And you are speaking of unrealistic goals, which I do not create. However, what you're describing seems like an F thing, and I'm not an F either.
    "The only time I'm wrong is when I'm questioning myself."
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  3. #33
    Feline Member kelric's Avatar
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    Well what are your financial goals for the year?
    Well, obviously I was planning on winning 400M in the lottery. I mean, it was (almost) inevitable, right?

    On a more realistic note... most of my financial goals (although I use the term loosely) involve paying my house off as quickly as possible. At the rate I'm going, that's not realistic probably until 2014-2015, but if I make it a priority (and I have), it should happen around then.


    How do you plan to get there?

    I really lack sophistication and any interest in financial matters. My strategy comes down to "lead a simple life, don't spend a lot, minimize debt, have a financial reserve, and save what's left". Generally my investments tend toward stock/bond funds, that I don't play with or really pay much attention to.

    How are you planning to grow your business this year?
    This doesn't really apply. I have very little, if any, entrepreneurial drive. The idea of having to spend any time on the "business" aspects of a career make me cringe. So I don't. I've considered looking for a new job -- it's likely that I could make more money, at the cost of less security. Hasn't been *quite* enough reason to make me take that step yet.

    Are you developing your personal business brand?
    Applies even less than the business growth question. Winning the lottery is probably a more reliable plan for me than anything relying on my ability to have, much less develop, a "personal business brand". Just not a strength of mine.

    If you've been trying any new business approaches in 2012 so far, how have they worked for you?
    N/A, really. I've had my current job/investment/retirement planning strategy for quite a few years now.

    Do you feel like your career or business are running you instead of the other way around?
    Interesting question. The answer is probably neither, perhaps trending towards the "career runs me" end. I'm doing relatively well, and am in a (I think) very stable situation that's unlikely to get either much better or much worse in the next 10 years. Unless I rock the boat -- which might happen, might not.
    [SIGPIC][/SIGPIC]

  4. #34
    Senior Member Winds of Thor's Avatar
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    Quote Originally Posted by DiscoBiscuit View Post
    Well what are your financial goals for the year?

    I just became a Realtor a few months ago
    I'll be buying a house from @DiscoBiscuit
    "..And the eight and final rule: If this is your first time at Fight Club, you have to fight."
    'Men are meant to be with women. The rest is perversion and mental illness.'

  5. #35
    pathwise dependent FDG's Avatar
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    Quote Originally Posted by Salomé View Post
    This thread made me throw up a little in my mouth.
    Lol. Yeah, I kinda feel the same.
    ENTj 7-3-8 sx/sp

  6. #36
    Administrator highlander's Avatar
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    Quote Originally Posted by EvidenceOfRedemption View Post
    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.
    So you are saying increase your income and spend less and you'll have less stress? If so, you invest what you don't spend presumably. But you're saying don't save and invest. I don't understand. Also, you talk about the "work ease" that can you have now but you don't say anything about how to achieve that.

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  7. #37
    Senior Member EvidenceOfRedemption's Avatar
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    Quote Originally Posted by highlander View Post
    So you are saying increase your income and spend less and you'll have less stress? If so, you invest what you don't spend presumably. But you're saying don't save and invest. I don't understand. Also, you talk about the "work ease" that can you have now but you don't say anything about how to achieve that.
    No, I am saying capitulate on the money hoarding mindset and focus on work-to-cost-effectiveness ratio. As you invest in that, you'll eventually need to work less to maintain a living, which makes achieving the stress-free lifestyle desired from retirement a reality.

    Then again, this will challenge just about all of your lifestyle habits so it's not for everyone.

    One example of this is buying instead of renting. At some point, your house is paid off and your monthly housing cost is only taxes. You can say, but this requires buying a whole house... well, that's where the problem is, don't spend so much on a house, or live somewhere where the same house cost 1/3 the price (and probably a lot of other things you buy). Do you really think you need a house bigger than Mark Zuckerberg? Far more often what will save you money is an adjustment of your expectations, not your budget.




    Another example of this is Edmunds.com cars' "true cost to own". As far as I'm concerned, this should be the actual cost. By thinking in terms of "true cost" eventually you can live this way.



    If you're really hardcore, here an idea I've thought of doing for a few years if I was living alone but don't plan to anymore... it could be very useful for a single person. Purchase a Mitsubishi Delica, build a bed/drawer system in the back, eat out of a high quality ice chest (only cost is the dry ice every 3-4 days) and shower at 24-hour Fitness before work. Watch internet TV on your laptop and use free wifi or pay for clearwire service.

    At first, it seems kind of strange, but the end recurring cost is car insurance, gas (which is minimal because you can live close to where your need to be each day), food, mobile phone and internet, and gym membership. Someone could actually work for minimum wage and save half their paycheck each month. Now imagine you're making the $18-25/hour entry-level after college.

    This is what I call "financial torque"... with the rest of the money you could invest, but why do that when you don't need to? At best, find a high yield savings account to collect your leftover money while you carefully consider other spending decisions with high cost-effectiveness returns. If you enjoy the lifestyle enough, one could even invest and hit an early retirement goal and be living secure for a long time, working only to pay for education or endeavors they so desired (which are potentially a good return as well).

  8. #38
    Administrator highlander's Avatar
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    Quote Originally Posted by EvidenceOfRedemption View Post
    No, I am saying capitulate on the money hoarding mindset and focus on work-to-cost-effectiveness ratio. As you invest in that, you'll eventually need to work less to maintain a living, which makes achieving the stress-free lifestyle desired from retirement a reality.

    Then again, this will challenge just about all of your lifestyle habits so it's not for everyone.
    Capitulate? I think that means to surrender to - to give into something - vs. giving it up.

    What is a work-to-cost-effectiveness ratio?

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  9. #39
    Senior Member EvidenceOfRedemption's Avatar
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    I just wrote a whole post explaining it my friend. Also, you're right about "capitulate", I thought it meant give up. I'm glad the context was strong enough for you to know what I meant.

  10. #40
    Administrator highlander's Avatar
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    Quote Originally Posted by EvidenceOfRedemption View Post
    I just wrote a whole post explaining it my friend. Also, you're right about "capitulate", I thought it meant give up. I'm glad the context was strong enough for you to know what I meant.
    I know. I read it like 5 times and still don't understand it. No matter. I'll stick to my hoarding .

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