Too much money for my own good - Page 2

Jerrydill · #16 (**permalink**) 07-14-2008, 06:35 PM

I would suggest continuing your education or putting this money towards some sort of savings (some of it needs to be toward a retirement fund). Putting that money into a fund now can mean great savings in the future! Good luck finding out what you want to do.

Rab89 · #17 (**permalink**) 08-11-2010, 09:42 PM

hello again everyone! I have recently gotten back into getting my finances sorted out, I took the advice of some of you guys and put it towards my education, I am now reading and learning, trying to decide what path to go to get ahead in life, real estate vs stocks basically, I would also like to open a business at some point in my life, so that might be where I'm gona put my money.

Thanks for everyone's help!

DavidBibby · #18 (**permalink**) 08-11-2010, 09:53 PM

Quote:

Originally Posted by Rab89

hello again everyone! I have recently gotten back into getting my finances sorted out, I took the advice of some of you guys and put it towards my education, I am now reading and learning, trying to decide what path to go to get ahead in life, real estate vs stocks basically, I would also like to open a business at some point in my life, so that might be where I'm gona put my money.

Thanks for everyone's help!

Welcome back Rab89!

It's been quite awhile since you visited.. hope things are going well for you.

We've got a great bunch of people here ready to help you answer some of those questions... so check back often and start some new threads if you like..

Rab89 · #19 (**permalink**) 08-12-2010, 01:20 AM

I will definitely be posting more around here, I'm a noob and have only read the wealthy barber so far, I'm going to get a copy of rich dad poor dad right away, unless someone has a better idea? and I plan on working toward opening a pub in the future.

DavidBibby · #20 (**permalink**) 08-12-2010, 08:59 AM

Quote:

Originally Posted by Rab89

I will definitely be posting more around here, I'm a noob and have only read the wealthy barber so far, I'm going to get a copy of rich dad poor dad right away, unless someone has a better idea? and I plan on working toward opening a pub in the future.

Rich Dad Poor Dad.. is a great book. Here are some other titles you want to check out:

"The Richest Man in Babylon"

"The Automatic Millionaire", by David Bach

Since you want to own a business.. definitely read Rich Dad Poor Dad first...

Glad to have you back!

Rab89 · #21 (**permalink**) 08-12-2010, 12:25 PM

Thanks David!
I'll keep those in mind as soon as I'm done rich dad poor dad.

PMMM · #22 (**permalink**) 08-17-2010, 12:42 AM

You might also look into buying the software program. YNAB The acronym stands for You Need A Budget.

It's a great program that if used properly and with discipline will enable you to live within your means and you will save money.

jboxer · #23 (**permalink**) 09-08-2010, 09:49 PM

$50 K is not much. Dont trust the banks. Have you seen the conspiracy against your money DVD?

May want to check it out.

itmtrading · #24 (**permalink**) 09-10-2010, 05:25 PM

Quote:

Originally Posted by Rab89

Hey guys! I posted a while back about investing, I'm going to start hitting this forum hard and learning how to invest. i hate working and would rather sit at home and watch stocks than go to work. haha anyways, 19 years old, inheritance of over $50,000 I'm going to get a copy of the wealthy barber (anyone have a copy to donate to me?) and read that for some help, meanwhile, suggestions? what would you do?

don't be so greedy for the wealth nothing comes easily and fast

DavidBeairsto · #25 (**permalink**) 09-11-2010, 12:55 PM

Rab89 this video might be of interest to you both in terms of investments and sitting at home...

btacay · #26 (**permalink**) 09-14-2010, 02:25 AM

It’s not about how much Money you make, but you what you do with the Money you make! That is the principle of good money management.

One of the best things that you can do to take control of your money in order to save more money is to set up different bank accounts for the different aspects of your life. By following the Save More Money Template in Money Skills for Life website, you can implement it easily without having to do any of the thinking for yourself or worry that you've missed anything.

Stevena · #27 (**permalink**) 10-04-2010, 09:12 AM

Find someone thats not going to make you a one stop customer looking for a high commission.

enthusiastic · #28 (**permalink**) 11-07-2010, 07:29 AM

Samir Nagheenanajar: You know what I would do if I had a million dollars? I would invest half of it in mutual funds and then take the other half over to my friend Sadulach who works in Securities.
Michael Bolton: Samir. Samir, you're missing the point. The point of the exercise is that you're supposed to figure out what you would want to do . . . (reads the printer's display). PC load letter?!! What the fuck does that mean?!!

UnmaskingFinance · #29 (**permalink**) 11-09-2010, 09:22 PM

The IRA idea is not bad. Remember to always calculate inflation into your FV flows. That 1,186,000 quickly drops to under $500,000 at 2.5% inflation for the next 40 years, closer to $400,000 which still is a large amount of money but significantly less.

In addition, keep in mind you are young. Any financier worth their salt will tell you that you can afford to take more risk when you are young and that you really should because you have time to make it back if you mess up and it can vault your net worth on the upside. Always think of every investing decision as upside/downside when deciding to invest - what can I gain and what can I lose - then gauge your risk appetite and consider investing.

I would spend a few years safely investing (check out some mutual funds) and then if you are comfortable throw some money at individual stocks. Just be sure you don't jump into the market right away - people easily get burned by the market and everyone thinks they know better than the next person.

autocurrency · #30 (**permalink**) 11-23-2010, 06:54 AM

I think Automated Forex Trading is better to earn money online and save money also

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