Post: #26

(08-15-2012 07:43 AM)snoop Wrote:  

(08-15-2012 06:14 AM)Tengen Wrote:  Jesus fucking Christ, i'm 23 and this thread is confusing the fuck out of me.

My current thinking:

1/ Not expecting to get married anytime soon

2/ Stick with my job because I love it, but keep looking for extra income streams

3/ Still weighing the benefits between renting/buying/stay at home. I'm living with my folks now and it's letting me save a lot of money. However i've come to realise that 50%+ of game is logistics, so i really want to move out. The question is if i want to rent, or save up for a large deposit, buy a nice studio and pay off the mortgage.

4/ Flowing from point #3, need to decide how to save enough money for travel.

I don't think of buying as anything but removing options from my life. I own now and its a major constraint on the way I live.

I don't think of renting as "wasting" money, I think of it as buying the freedom to move anytime you damn well please. Not to mention you don't have to deak with home owners insurance, property taxes, maintenance, HOA fees, etc.

all tax deductible if u r renting it out

Post: #27

(08-15-2012 05:59 AM)DecoHappy Wrote:  1. Three failed marriages.

Deco if you don't mind sharing what ages were you when you did your marriages ?
what made you decide to go for it a third time ?
when did you discover "game" ?

my condolences on your children. i can't imagine what that pain would be like.

i appreciate your insights a ton. lots of good info for the young guys.

Post: #28

(08-15-2012 07:59 AM)garygroundwork Wrote:  

(08-15-2012 07:43 AM)snoop Wrote:  

(08-15-2012 06:14 AM)Tengen Wrote:  Jesus fucking Christ, i'm 23 and this thread is confusing the fuck out of me.

My current thinking:

1/ Not expecting to get married anytime soon

2/ Stick with my job because I love it, but keep looking for extra income streams

3/ Still weighing the benefits between renting/buying/stay at home. I'm living with my folks now and it's letting me save a lot of money. However i've come to realise that 50%+ of game is logistics, so i really want to move out. The question is if i want to rent, or save up for a large deposit, buy a nice studio and pay off the mortgage.

4/ Flowing from point #3, need to decide how to save enough money for travel.

I don't think of buying as anything but removing options from my life. I own now and its a major constraint on the way I live.

I don't think of renting as "wasting" money, I think of it as buying the freedom to move anytime you damn well please. Not to mention you don't have to deak with home owners insurance, property taxes, maintenance, HOA fees, etc.

all tax deductible if u r renting it out

That still means you have to pay up front, and those are not 100% deductible (at least in my experience), so there is still added cost. Not to mention the increased time tracking all this stuff. Also, I don't think HOA fees or property taxes are tax deductible, only loan interest.

Tax rates can increase when you rent versus live in a property. You also now are responsible for fixing things in the property within certain time frames b/c you have tenets. You can take financial hits when the place goes unrented for stretches. Some HOAs also don't allow you to rent out your property and will impose stiff penalties for doing so ($1600 a month penalty in my case). Even if the HOA allows it initially, that doens't mean the HOA rules can't change moving forward.

Perhaps you have an issue with the developer of the property and will be engaged in litagation for several years b/c of faulty construction. While that goes on you cannot sell your property unless someone buys its entirely in cash. Your property value also takes a massive hit.

Perhaps you buy a property and a few years down the road local government makes some changes that somehow negatively impact the property. Kill the value/equity, create hassles, maybe the local area no longer gets taken care of properly, etc.

Perhaps you have a unexpected maintenace issue that you now have to spends thousands of dollars to repair and insurance won't cover.

Maybe you have a neighbor who decides to liquidate their property and severly undercuts the market to sell quickly, thus killing your property value.

The point is that while it may be worthwhile for some, it is also very easy to become a burden that can tie you and your finances to a specific location that you may not want to be in years from now. There are an almost unlimited number of things outside your control that will impact you as the owner of the property.

Post: #29

(08-15-2012 09:09 AM)mistermister Wrote:  

(08-15-2012 05:59 AM)DecoHappy Wrote:  1. Three failed marriages.

Deco if you don't mind sharing what ages were you when you did your marriages ?
what made you decide to go for it a third time ?
when did you discover "game" ?

my condolences on your children. i can't imagine what that pain would be like.

i appreciate your insights a ton. lots of good info for the young guys.

I must be desensitized from reading so many similar stories. Deco is right - those are some harsh tales. And the dead kids. I hope I will never be able to empathize.

Post: #30

If you want to keep the upper hand in a relationship the only way to do it is not to get married. That all you really need to know so go enjoy yourself now.

Post: #31

As far as property/real estate goes: it's a hassle, and like everything else in life, not risk-free, so don't pretend it is. It also involves a shit-ton more costs than you might otherwise expect, so it can be a bitch of an item on your budget.

Instead of pouring money into a bottomless pitt called a "home", invest in more liquid assets like mutual funds, stocks and bonds (or futures/options). Having the money at your fingertips will make your life easier and more stress-free.

I've gone headfirst into this project, so now I intend to make the most of it, but knowing what I do today, I wouldn't have bothered if I could do it again.

Post: #32

(08-14-2012 03:38 PM)dk902 Wrote:  Gio, could you elaborate a bit further how you eliminate stress?

I think sometimes I get up in my own head too much and stress over minor details.

I train like a beast and eat clean, so I've got that locked down.

I know it's about having a mindset and thinking a certain way, but sometimes that's easier said than done.

Ya, it takes effort and practice to learn stress reduction techniques that will work for you. Here is what I did...

Quit my stressful job.

Stopped taking everything so serious.

Only worried about the things that I could control.

Stopped trying to "fix" other people.

Allowed myself time each day to play or relax. (I like to swim or play ball)

Take a day off when I need it.

Don't forget to have some fun once in a while.

Improve my sex life.

Spend time with the people I enjoy.

SIMPLIFY MY LIFE!

Say "no" more often. Don't do things I don't like and don't spend time with people I don't like.

Learn what things stress you out and avoid them.

Sleep more.

Look on the bright side.

Count your blessings.

Develop your sense of humor.

More doing, less thinking.

I have also studied Buddhism and I occasionally smoke weed.

There is a healthy level of stress that keeps me productive. I don't want to be stressed out but I also don't want to be overly relaxed all the time. Its about being happy and productive.

Hope that helps.

Post: #33

I am 29 and I did the same asking when I was 25 during the market crash of 2008. I had extra cash on hand and bought stocks and real estate. Right now I am heavy in real estate and light on stock. And heavy on not giving a F*ck. I travel as I please. I payed things off at an accelerated rate thus giving myself in a sense found income. A 400 dollar a month mortgage paid at 2500 a month is taken care of quickly and you all of a sudden have a lot more free cash at the end of 4 years. And no rent payment is great. Plus having a home equity line of credit is a good feeling.

I would recommend joining the Merchant Marines if you don't have a plan and going out to sea as an AB and try to work your way up to mate. The work schedule is 2 for 1. Two days of work for one day off. So, if you work 20 on you get 10 off.

Post: #34

(08-16-2012 07:29 PM)johnw28 Wrote:  I am 29 and I did the same asking when I was 25 during the market crash of 2008. I had extra cash on hand and bought stocks and real estate. Right now I am heavy in real estate and light on stock. And heavy on not giving a F*ck. I travel as I please. I payed things off at an accelerated rate thus giving myself in a sense found income. A 400 dollar a month mortgage paid at 2500 a month is taken care of quickly and you all of a sudden have a lot more free cash at the end of 4 years. And no rent payment is great. Plus having a home equity line of credit is a good feeling.

I would recommend joining the Merchant Marines if you don't have a plan and going out to sea as an AB and try to work your way up to mate. The work schedule is 2 for 1. Two days of work for one day off. So, if you work 20 on you get 10 off.

Do you have to stay in the Merchant Marines for 4 years minimum? I've never heard to much about it.

Post: #35

(08-15-2012 09:09 AM)mistermister Wrote:  

(08-15-2012 05:59 AM)DecoHappy Wrote:  1. Three failed marriages.

Deco if you don't mind sharing what ages were you when you did your marriages ?
what made you decide to go for it a third time ?
when did you discover "game" ?

I married the first time at 24. She was 21. She was the second girl I'd ever seriously dated. I assumed that I'd hit the jackpot with her and I'd better not let her slip away.

Sex dropped off dramatically after the first year. What I didn't know at the time was she was banging the AMOG of our social circle. He then helped her exercise her bi- tendencies. She had a string of female lovers over the next 20 years, unbeknownst to me.

For a lot of reasons, I divorced her after 21 years of shitty marriage (I was 46 at the time) and two kids. She did everything in her power during and for several years after the divorce to destroy me and separate me from my children. She left me with a heavy burden of credit card debt from the marriage.

I married #2 because she presented herself as the "perfect woman" during my divorce from #1. She was bat-shit crazy and I refused to see it for a year. I finally woke up to the fact that she was nuts and there was nothing I could do to fix it. I popped smoke and divorced her. During the year I was married to her, she embezzled about $75K from me.

I started dating again after #2. I was 47. Met a 31 year old single mom on AFF. She got pregnant on the second date, despite telling me she was on birth control. I married her because she was carrying my child. I was the White Knight. After our child died, I "manned up" and adopted her two kids. WK on steroids.

Just before we married, she revealed a minor criminal history. What I have since learned is that she has an extensive criminal history of fraud and occasional violence.

I discovered the Red Pill about a year ago thru Athol Kay, Dalrock, Roosh, and Roissy. As I was amping up the Alpha in my personal life and throttling back the Beta, #3 got arrested for shoplifting. Second time in less than a year.

After her second shoplifting conviction, I decided I'd had enough. Rented an apartment and told her I was moving out. Did some marital counseling and tried for reconciliation, but with an eye on the exit path. She did some truly crazy stuff, including assaulting me. I grappled the Divorce handle and pulled hard.

Post: #36

(08-15-2012 10:55 AM)snoop Wrote:  

(08-15-2012 07:59 AM)garygroundwork Wrote:  

(08-15-2012 07:43 AM)snoop Wrote:  

(08-15-2012 06:14 AM)Tengen Wrote:  Jesus fucking Christ, i'm 23 and this thread is confusing the fuck out of me.

My current thinking:

1/ Not expecting to get married anytime soon

2/ Stick with my job because I love it, but keep looking for extra income streams

3/ Still weighing the benefits between renting/buying/stay at home. I'm living with my folks now and it's letting me save a lot of money. However i've come to realise that 50%+ of game is logistics, so i really want to move out. The question is if i want to rent, or save up for a large deposit, buy a nice studio and pay off the mortgage.

4/ Flowing from point #3, need to decide how to save enough money for travel.

I don't think of buying as anything but removing options from my life. I own now and its a major constraint on the way I live.

I don't think of renting as "wasting" money, I think of it as buying the freedom to move anytime you damn well please. Not to mention you don't have to deak with home owners insurance, property taxes, maintenance, HOA fees, etc.

all tax deductible if u r renting it out

That still means you have to pay up front, and those are not 100% deductible (at least in my experience), so there is still added cost. Not to mention the increased time tracking all this stuff. Also, I don't think HOA fees or property taxes are tax deductible, only loan interest.

Tax rates can increase when you rent versus live in a property. You also now are responsible for fixing things in the property within certain time frames b/c you have tenets. You can take financial hits when the place goes unrented for stretches. Some HOAs also don't allow you to rent out your property and will impose stiff penalties for doing so ($1600 a month penalty in my case). Even if the HOA allows it initially, that doens't mean the HOA rules can't change moving forward.

Perhaps you have an issue with the developer of the property and will be engaged in litagation for several years b/c of faulty construction. While that goes on you cannot sell your property unless someone buys its entirely in cash. Your property value also takes a massive hit.

Perhaps you buy a property and a few years down the road local government makes some changes that somehow negatively impact the property. Kill the value/equity, create hassles, maybe the local area no longer gets taken care of properly, etc.

Perhaps you have a unexpected maintenace issue that you now have to spends thousands of dollars to repair and insurance won't cover.

Maybe you have a neighbor who decides to liquidate their property and severly undercuts the market to sell quickly, thus killing your property value.

The point is that while it may be worthwhile for some, it is also very easy to become a burden that can tie you and your finances to a specific location that you may not want to be in years from now. There are an almost unlimited number of things outside your control that will impact you as the owner of the property.

Home ownership is not what its cracked up to be and it really goes against the freedom and flexibility that is needed to live a playboy lifestyle.

Shelter is a cost just like food and it needs to be paid. People whom say "renting" is throwing away money are trolls. Yes their is the ability to get gains off property as an investment but those golden days are far behind us.

Best to rent a property and have the flexibility and breathing room to do what you like and IMO if your a solid tenant more times then not the Landlord will be very accommodating with some perks to keeping you around.

Plus what good is having rent income as a tax right off when the Govt comes in once you sell your home and just rapes you then. Its just a delay in the money the will eventually get from you.

Post: #37

[/quote]
Do you have to stay in the Merchant Marines for 4 years minimum? I've never heard to much about it.
[/quote]

No you don't have to stay in for a 4 year minimum. There are several ways to get in depending on what you want to do. You can go to one of the 5 merchant marine academies in the US and come out an officer (mate). Or start on the bottom and work your way up by getting sea time. There is a high turn over in this field to do burn out. A lot of guys aren't cut out for this lifestyle as they want to settle down and know their children. I graduated from a merchant marine academy but I never went to sea. Look up kirby career ladder. It gives a guide on pay for the Gulf coast and mississippi river. Pay is better on the gulf runs and international runs though.

Post: #38

(08-17-2012 09:36 AM)kosko Wrote:  

(08-15-2012 10:55 AM)snoop Wrote:  

(08-15-2012 07:59 AM)garygroundwork Wrote:  

(08-15-2012 07:43 AM)snoop Wrote:  

(08-15-2012 06:14 AM)Tengen Wrote:  Jesus fucking Christ, i'm 23 and this thread is confusing the fuck out of me.

My current thinking:

1/ Not expecting to get married anytime soon

2/ Stick with my job because I love it, but keep looking for extra income streams

3/ Still weighing the benefits between renting/buying/stay at home. I'm living with my folks now and it's letting me save a lot of money. However i've come to realise that 50%+ of game is logistics, so i really want to move out. The question is if i want to rent, or save up for a large deposit, buy a nice studio and pay off the mortgage.

4/ Flowing from point #3, need to decide how to save enough money for travel.

I don't think of buying as anything but removing options from my life. I own now and its a major constraint on the way I live.

I don't think of renting as "wasting" money, I think of it as buying the freedom to move anytime you damn well please. Not to mention you don't have to deak with home owners insurance, property taxes, maintenance, HOA fees, etc.

all tax deductible if u r renting it out

That still means you have to pay up front, and those are not 100% deductible (at least in my experience), so there is still added cost. Not to mention the increased time tracking all this stuff. Also, I don't think HOA fees or property taxes are tax deductible, only loan interest.

Tax rates can increase when you rent versus live in a property. You also now are responsible for fixing things in the property within certain time frames b/c you have tenets. You can take financial hits when the place goes unrented for stretches. Some HOAs also don't allow you to rent out your property and will impose stiff penalties for doing so ($1600 a month penalty in my case). Even if the HOA allows it initially, that doens't mean the HOA rules can't change moving forward.

Perhaps you have an issue with the developer of the property and will be engaged in litagation for several years b/c of faulty construction. While that goes on you cannot sell your property unless someone buys its entirely in cash. Your property value also takes a massive hit.

Perhaps you buy a property and a few years down the road local government makes some changes that somehow negatively impact the property. Kill the value/equity, create hassles, maybe the local area no longer gets taken care of properly, etc.

Perhaps you have a unexpected maintenace issue that you now have to spends thousands of dollars to repair and insurance won't cover.

Maybe you have a neighbor who decides to liquidate their property and severly undercuts the market to sell quickly, thus killing your property value.

The point is that while it may be worthwhile for some, it is also very easy to become a burden that can tie you and your finances to a specific location that you may not want to be in years from now. There are an almost unlimited number of things outside your control that will impact you as the owner of the property.

Home ownership is not what its cracked up to be and it really goes against the freedom and flexibility that is needed to live a playboy lifestyle.

Shelter is a cost just like food and it needs to be paid. People whom say "renting" is throwing away money are trolls. Yes their is the ability to get gains off property as an investment but those golden days are far behind us.

Best to rent a property and have the flexibility and breathing room to do what you like and IMO if your a solid tenant more times then not the Landlord will be very accommodating with some perks to keeping you around.

Plus what good is having rent income as a tax right off when the Govt comes in once you sell your home and just rapes you then. Its just a delay in the money the will eventually get from you.

Home ownership is a good way to guard money if you follow the rules that they give you. Own a house for 5 years and "reside" in it for 3 years and you don't pay capital gains on it when it is sold. You can also claim tax deductions for property tax and several other items. Plus is it better to buy a place for say 500 a month or rent the same place for 1200? It depends on how long you plan to stay. But, I would prefer to have the extra 700 a month in my pocket to play with.

Post: #39

Learn how to party and live healthy at the same time. Buy a scale. Make it a part of your morning routine for life. Get a degree to maximize your career options. To deal with stress learn how to compartmentalize. Learn a trade and be good at it. Always have the ability to make money. If you are going to work for somebody, don't waste thier time and yours by being lazy....dominate. Never be afraid to walk away from a job but NEVER burn bridges.

...and never, ever let a woman get between you and your money.

Post: #40

(08-17-2012 02:38 PM)20th Level Wrote:  Learn how to party and live healthy at the same time. Buy a scale. Make it a part of your morning routine for life. Get a degree to maximize your career options. To deal with stress learn how to compartmentalize. Learn a trade and be good at it. Always have the ability to make money. If you are going to work for somebody, don't waste thier time and yours by being lazy....dominate. Never be afraid to walk away from a job but NEVER burn bridges.

...and never, ever let a woman get between you and your money.

The bolded can be done. And the rest of the advice is well said. "Always have the ability to make money."

Post: #41

Remember these adages:

"It's hard to lose girls by chasing money, but it's easy to lose money by chasing girls."

"Money can fix nearly any problem except most health problems."

Worry about becoming a better, healthier, richer, wiser man, and girls will take care of themselves.

Do NOT spend money on girls. Come to think of it, you shouldn't be spending money on much of anything if you're smart.

If you find yourself wondering whether law school is right for you, then it almost certainly isn't.

Assets are things that put money in your pocket. Liabilities (like cars and girls) take money out of your pocket. Always remove liabilities from your life and seek to add assets to your life.

Rather than spending that spare $50, ask how you could *invest* it in some skill or knowledge that will make
you a.) healthier or b.) more money.

Oh, and do NOT eat sugar. Eat as many lean meats and veggies as you can stand. Garlic, turmeric, and soy sauce are your friends. Chop up an onion and sautee it while you cook your meat. Makes everything taste better.

Get in the gym at minimum 3x a week, no excuses, even if you feel run down. It must become a habit so that you feel "off" if you miss a day. And really, 3x a week is for losers. Go for at least 4 or 5. Spend almost all your time on strength training, unless you need to lose fat, in which case get on a stair-stepper or elliptical.

Post: #42

(08-14-2012 09:42 AM)mistermister Wrote:  just hit 30 this year... no kids, no baggage, money on point, better looking with age, thanks to game i can spot the bullshit a mile a way... and it keeps getting better and better.

Same here, brother. I feel so much better about life now at 30 then I did at 20.

The 30s (and 40s, from what I here) are the best ages to be a man. Just stay in shape and you're golden.

Post: #43

(08-17-2012 11:52 AM)johnw28 Wrote:  

(08-17-2012 09:36 AM)kosko Wrote:  Home ownership is not what its cracked up to be and it really goes against the freedom and flexibility that is needed to live a playboy lifestyle.

Shelter is a cost just like food and it needs to be paid. People whom say "renting" is throwing away money are trolls. Yes their is the ability to get gains off property as an investment but those golden days are far behind us.

Best to rent a property and have the flexibility and breathing room to do what you like and IMO if your a solid tenant more times then not the Landlord will be very accommodating with some perks to keeping you around.

Plus what good is having rent income as a tax right off when the Govt comes in once you sell your home and just rapes you then. Its just a delay in the money the will eventually get from you.

Home ownership is a good way to guard money if you follow the rules that they give you. Own a house for 5 years and "reside" in it for 3 years and you don't pay capital gains on it when it is sold. You can also claim tax deductions for property tax and several other items. Plus is it better to buy a place for say 500 a month or rent the same place for 1200? It depends on how long you plan to stay. But, I would prefer to have the extra 700 a month in my pocket to play with.

I don't think I have ever seen a place you could buy for that much cheaper than renting. Are you not in the US?

In my area it costs about half (not even counting all the added costs of ownership beyond mortgage) to rent compared to buying (and that isn't even counting the 20% you have to put down, which I personally would rather have the 40 grand in my pocket than locked up in real estate that I may not be able to liquidate when I desire)

Post: #44

Another tip I've found effective is to buy non-perishable essentials in bulk at discounts. I'll spend $1000 at Target or wherever buying shampoo and shaving cream and that kind of thing when it is on sale.

If you manage to save 10-15%, that is a better return that you would most likely get investing that money, plus you aren't taxed on that savings like you would be an investment. You also get the time savings of not having to go buy that stuff every week/month. The key is to make sure even though you have more on hand, you don't increase your consumption of those items.

Post: #45

Quote:Assets are things that put money in your pocket. Liabilities (like cars and girls) take money out of your pocket. Always remove liabilities from your life and seek to add assets to your life.

This is a very important thing to understand. But not all girls and cars are liabilities either. They're rare, but a woman that knows how to be an asset is worth keeping around. Generally, knowing the difference between an asset and a liability is a very important skill to have and can be difficult to develop, especially with intangibles like women.

Post: #46

(08-17-2012 06:19 PM)Capitán Peligroso Wrote:  This is a very important thing to understand. But not all girls and cars are liabilities either. They're rare, but a woman that knows how to be an asset is worth keeping around. Generally, knowing the difference between an asset and a liability is a very important skill to have and can be difficult to develop, especially with intangibles like women.

And a life lived never cashing in the assets to enjoy some liabilities once in a while gets pretty boring. I think the key is to learn how to maximize the return on those assets and minizize the risk in the liabilities.

Post: #47

(08-13-2012 12:38 PM)ElJefe Wrote:  Gents, if you were young again, where would you concentrate your efforts?

1. Finishing and getting the most out of my master's program
2. Getting a good recommendation from my current part-time gig + earn some coin
3. Optimize training/diet regimen

Health - diet and training is crucial. Doctor visits aren't as necessary when you're young, but getting that kind of thing in line is a good idea.

Wealth
1) Save some money. i'm not saying you need to be frugal, or be an extreme coupon person, but try and save at least 10% of your income. ( I didn't say invest in the stock market). Money that you have, that's available.

2) side hustle - sell stuff. Don't care if it's bootleg dvd's, sneakers, real estate, or whatever - but learn how you can make more money by selling something that you can by working.

3) invest your money. - there's tons of stuff out there, but rental properties or REIT's or stocks and bonds - get yourself a sharebuilder account and invest some cash.

4) avoid debt and keep a good credit score.

Chicks
1) travel
2) fuck bitches.

WIA

Post: #48

This thread is gold. Thanks to all.

If I were 20 (I'm 25 now), the first thing I'd do is be seeking a mentor. I wasted three years of my life from 20 to 23 drifting without a mentor in a shitty LTR. On the outside, looking pretty- own business, hard working. In reality, wasting my hours when with a little bit of business tuition I would have trebled my income easily.

Post: #49

Lift weights

Eat healthy

Learn a new language

Bang young girls

Figure out a way to travel

Read books

Post: #50

(01-26-2014 09:05 AM)roberto Wrote:  This thread is gold. Thanks to all.

If I were 20 (I'm 25 now), the first thing I'd do is be seeking a mentor. I wasted three years of my life from 20 to 23 drifting without a mentor in a shitty LTR. On the outside, looking pretty- own business, hard working. In reality, wasting my hours when with a little bit of business tuition I would have trebled my income easily.

I agree with you im 20 and think an older mentor would get me on the right track in all areas of my life.