Post: #76

^^ that's all fair. Hopefully some other cats will chip in with what they do with 90 friggin hours a week! Shit I can't even sleep for more than 6 hours without wakin up before the alarm clock goes off!

Post: #77

Lol I look at things a bit different. Got sick of dealing with most folks and feel I produced enough for society. Now I own my time. Lots of time to do nothing beats PRODUCING for an ungrateful population. But mind you my profession purposely puts us at odd with society. Now I am like that guy in full metal jacket,animal. Need grenades tossed at me to feel normal. Kind of a joke but I think you getvthe point. They retire us early cause cynicalism makes us dangerOus.

Post: #78

(06-18-2013 08:52 PM)WestCoast Wrote:  ^ I wouldn't trip about that too much just have random meet ups with forum members and send a friend with a similar profile as you. Use the exact same name and give them the same story etc.

This went from a troll thread to how to troll meetups. Now I've heard it all. This thread gets one star. Lame.

Post: #79

(06-18-2013 09:12 PM)jimukr104 Wrote:  Lol I look at things a bit different. Got sick of dealing with most folks and feel I produced enough for society. Now I own my time. Lots of time to do nothing beats PRODUCING for an ungrateful population. But mind you my profession purposely puts us at odd with society. Now I am like that guy in full metal jacket,animal. Need grenades tossed at me to feel normal. Kind of a joke but I think you getvthe point. They retire us early cause cynicalism makes us dangerOus.

For a lot of people, their work is their identity. To take that away would leave most people wondering what to do next.

Post: #80

(06-18-2013 09:16 PM)Aliblahba Wrote:  

(06-18-2013 08:52 PM)WestCoast Wrote:  ^ I wouldn't trip about that too much just have random meet ups with forum members and send a friend with a similar profile as you. Use the exact same name and give them the same story etc.

This went from a troll thread to how to troll meetups. Now I've heard it all. This thread gets one star. Lame.

heh Maybe who you thought was El Mech was really some guy hired.

Anyway, I do think this is an interesting topic. A lot of people dream of retirement only to find out it is boring and having to watch your dimes becomes a really lousy time.

Post: #81

^ I have also seen that. The most enjoyable part of my day is knowing I am slightly closer to being able to say "fuck it I don't need this anymore!" and mean it from the bottom of my heart. Not from a stance of anger but from a stance of "I really don't need anyone anymore". Especially since the game situation is all figured out as well no wining and dining from me bitches!

Post: #82

Jeez, take a cue from Jimlurkr. Get a degree in a high paying field like computer science. Graduate at 21. Start earning 100K a year, but live at home with your parents. Live the same broke a** lifestyle as your friends. Save 250K in a few years. Take that money and invest it in something like a business or real estate. Or learn how to invest. Or start your own business if you are so inclined.

By the time you are in your late 30's, if you still live like a college student and try to buy everything on sale, you'll have a nice lump sum. Try to figure out a way you can earn a part-time income (50-70K) on part time hours. Have fun.

Of course, you can also go the entrepreneur route. You're not really seriously wealthy with less than at least $4-5 million. $2 million is $50K a year for 40 years.

There are a ton of things that rich people can do. You just aren't thinking about it. They can vacation in the South of France. They can hang out with other rich people. Rich people always have exclusive gatherings with other rich people since they are only comfortable around their own kind.

They run passion businesses, party a lot, have an amazing network, do sh*t like become socialites, artists or musicians. I mean even Kim Kardashian has busy schedule, she runs a clothing line, goes to parties, etc. I met a lot of rich people growing up and trust me, no one is sitting around playing video games and watching TV all day.

Post: #83

(06-18-2013 06:57 AM)Beyond Borders Wrote:  

(06-17-2013 02:57 PM)iknowexactly Wrote:  I am planning on going to the Philippines eventually, but to live someplace cheap is boring because the people's intellect is greatly limited due to too many brain cycles focused on survival.

What about the expats though? Or hanging with the upper classes?

Quote:I am living in California and relatively poor-- just surviving.

You're making six figures passive and count yourself poor? I'm from Cali, but that still seems crazy to me. Maybe time to get out of cali...

On another note, what do you do for passive income, if you don't mind?

I found hanging with expats is helpful, but when you are in some oddball specialized niche in the arts, or even something mainstream; what I am interested in seems pretty culture bound.
Rich locals in poor countries tend to be consumption oriented except
for the real elite, and there's still a culture gap.

For instance, in EE, my art project ideas ( don't want to get too specific, please don't broadcast/out me on the forum if you figure it out!!) were considered too gloomy to these people-- who are trying to elevate themselves to stable middle class status.

They just don't need gloomy stuff in their life, they have enough stress already. Whereas in the USA, people almost need some shock value to wake them up and get through to them-- note the popularity of Zombie movies and the like.

Also, I don't make six-figure passive income-- I get passive income on a low six-figure investment. Don't want to get into details because-- the gubmint is watching!-- the gubmint is watching, or will be, as I explain here.

Post: #84

Its been covered here a bit, but being rich is a choice (along with luck and intelligence). Im fortunate enough to have a high income and can live anywhere in the US. I could live somewhere like Indiana for a year or two, live like a college student, and save 100k. I could pretty easily save a Million by 40 if I lived a boring and cheap life for a decade.

What do I do instead? Max out my IRA, and spend everything else some months. Over 2k a month in rent and live in oneof the most expensive areas in the country (south beach).

With a pension and maxing out IRA contributions, Im not neglecting retirement when the day comes. If you could get rich by greatly sacrificing your 20s, it might be worth it then. I just don't see the point of high stress and no fun just so you can be filthy rich at 50. Just my opinion tho!

Post: #85

I disagree with almost everything you wrote aside from your first point.

(06-18-2013 09:55 PM)wavestation Wrote:  By the time you are in your late 30's, if you still live like a college student and try to buy everything on sale, you'll have a nice lump sum. Try to figure out a way you can earn a part-time income (50-70K) on part time hours. Have fun.

Right, but now you're almost 40 and have wasted two of the best decades of your life scrimping and saving. I'm the first one to speak out against modern day spend thriftiness, but there needs to be a balance. What if you get hit by a bus? If you live like that till you die, you can die with $10m. Where is the point you say enough? 40 is as arbitrary as 25, 30, or 60.

(06-18-2013 09:55 PM)wavestation Wrote:  Of course, you can also go the entrepreneur route. You're not really seriously wealthy with less than at least $4-5 million. $2 million is $50K a year for 40 years.

Or $2m is 100-150k/yr in perpetuity, that is unless you got to the point of saving $2m and think there's nothing better to do with your money than stick it under the mattress. Again "serious wealth" is all subjective.

(06-18-2013 09:55 PM)wavestation Wrote:  There are a ton of things that rich people can do. You just aren't thinking about it. They can vacation in the South of France. They can hang out with other rich people. Rich people always have exclusive gatherings with other rich people since they are only comfortable around their own kind.

What do you mean vacation in south of France? Sit in a hotel room on your own? Prowl for ladies? Go to the beach? Get drunk and eat good food? You don't need a million dollars to do that. You also don't need to be in France. That would get as boring as hanging out in whereever you just left in short order I'm sure. Hang out with other rich people? And do what? Sit in nice chairs sipping brandy glowering down at the commoners? Again specifically how? Just go knock on the doors of big houses and say "you look rich, wanna hang out?" I would also disagree that rich folks are only comfortable around other richies. You seem to throw around a lot of loose terms and ideas, with no specific details.

(06-18-2013 09:55 PM)wavestation Wrote:  They run passion businesses, party a lot, have an amazing network, do sh*t like become socialites, artists or musicians. I mean even Kim Kardashian has busy schedule, she runs a clothing line, goes to parties, etc. I met a lot of rich people growing up and trust me, no one is sitting around playing video games and watching TV all day.

Again what do you mean just become a socialite, or go to parties. Your net worth and whether or not you're a person I want to hang out with are independent of each other. You make it sound like there's a secret formal club that only exists once you have X dollars, a clandestine network monitoring everyone's net worth that and once you hit some level they take you out back, tell you the address of that night's party, and teach you the handshake.

Post: #86

Yeah I am also am not suggesting you live hating your life just to get rich. That's straight up retarded.

Frugality is a bunch of bullshit. I do believe in minimalism though. I don't need a 911 Carrera to get laid.

I genuinely hate fine dining (friend of mine worked at one of the top restaurants in the world and the stories were disturbing). But that's my own opinion.

Again my point was more "what are you guys doing to improve your life"

Anyone can spend money, my hobbies as known here are weight lifting, dancing, investing, game, reading, traveling. So just looking to add to that list.

I'm starting to train some players in my area that has been a new fun hobby but costly as it takes a lot of time.

Post: #87

A million dollars really isn't that much anymore thanks to the Fed making money free. Many of us have that saved up in our retirement savings. But you can't retire on a million. At the current "risk free" rate of about 1 %, a million dollars gets you a lifestyle of $10,000 a year. I choose to live in third world countries where I can live cheaply and make my money grow. I get up at 5:30 am and work until 9:30 p.m. taking breaks during the day. It's easy to do because I am doing things that interest me. I also have female companionship when I want. Men seem to spend a lot of time hunting women in the US which takes time away from productive work.

Post: #88

Actually inflation has been very low overall the last decade. Fed printing money isn't the problem. It's that interest rates lower than inflation. This has happened on a few times in the last 100 years. I predict rates will shoot up on the next few yearss. 6 month cd rates are surpass to historically match inflation. There are ways to keep purchasing power. Join credit uniONS with higher rates. I get 3%. Also buy TIPS. Of course index mutual funds.
Despite being frugal I find that I can spend more now retired than when working. I am not going to blow cash on status stuff to show off. Funny because most rich don't. The consumers who go into debt trying tO look rich are wanna bes who are actually imitating each other. Read the millionaire next door. Good book that will open yOur eyes.
According to book avg rich person never spent more than 125 bucks on a watch. The author researched that it's poorer people and high income folks who spend money trying to imitate Hollywood image of wealth. But real rich peoPle actually don't waste cash on worthless trinkets. Makes sense. They do what the fuck they want. They can care less. I myself have become more arrogant like that. I wear what I want ,buy what I want. After all why should I care about what commoners think????joking but I think this is how rich think. The filthy rich ofcourse do often have the Hollywood image. But the on spend a drop in the bucket so it's nothing for them.

Post: #89

i like your thread westcoast.

i don't think anyone is giving you any serious answers as far as hobbies are concerned.

it makes you think about why we do things:

why work?
to be able to afford a lifestyle

why work if you can already afford the lifestyle?
because of our desire for a sense of identity and purpose. as humans we crave a legacy so that we can construct a meaningful life in an otherwise meaningless world.

what is the greatest challenge outside making money and slaying poon?
charity, politics, building a family dynasty, leading social change

is building a legacy really that important?
depends on the person. most westerners would say yes, it's central to our lives. eastern philosophy might look at things differently.

Post: #90

"what is the greatest challenge outside making money and slaying poon?
charity, politics, building a family dynasty, leading social change"

This is exactly what I am talking about.

I got no interest in leaving a "legacy" if I got a kid I would straight up flip out.

Your question is exactly what I am driving at.

What is another big challenge?

Post: #91

(06-19-2013 09:14 AM)Sherman Wrote:  A million dollars really isn't that much anymore thanks to the Fed making money free. Many of us have that saved up in our retirement savings. But you can't retire on a million. At the current "risk free" rate of about 1 %, a million dollars gets you a lifestyle of $10,000 a year. I choose to live in third world countries where I can live cheaply and make my money grow. I get up at 5:30 am and work until 9:30 p.m. taking breaks during the day. It's easy to do because I am doing things that interest me. I also have female companionship when I want. Men seem to spend a lot of time hunting women in the US which takes time away from productive work.

Sherm, where are you in Mex?

Can you drop any knowledge on favorite beachtowns?

What is your take on Playa del Carmen?

(06-19-2013 10:19 AM)WestCoast Wrote:  What is another big challenge?

West, why don't you get into some kind of Martial Art?

Or sports? Weight lifting is cool and all and good for you health, but I love surfing and boxing way more that weight lifting. Surfing and Boxing are spiritual, something weightlifting could never be.

Also, you are into dancing, right? Can you salsa? Maybe pick up Tango? You can swoop amazingly fly girls if you can master a dance like Tango, even in your old age.

What about some Art? Painting? Sculpture? Some thing like that.

Or music? Guitar? DJing?

Or some survival skills? Hunting? Fishing? Building fires? Eating plants? Skinning Animals?

Charity is also a good one. Build a school for kids in a third world country. I did some research on this: http://www.roomtoread.org/ you basically raise some funds with friends and build a reading room for kids. Then you go visit the kids. Would be mindblowing.

Or get really into training dogs? Get Three Dobermans that can grab your hat and gloves? My Grandfather had dogs that could basically cook him up Eggs and bacon in the morning they were so well trained.

Or flowers? My grandfather had a sick garden in his later years. I probably will do the same and get into gardening. Which also ties into cooking with fresh herbs and produce.

Hell, this is just off the top of the dome. The opportunities are endless.

Thoughts on those?

Post: #92

Boating is. Hobby I guess. Never understOod it. Being born a slim guy I always avoided water. So boats do not turn me on. But rich guys seem to like boats. I would rather own a tank if I could. Being in NYC I pretty much loOk at cRs as going point a to b but I know folks like to collect them. But if I was under 30 a luxury car does help with poon. At my age no one cares what car you drive so it's a wash. Seriously it's not easy finding a hobby that can actually occupy time. Even bike riding. I don't want to do it often.
Tell me is girl watching a hobby????I think I can do that. Like bird watching I seek exotic specimens that are in shape.
Now I understand the HOstel movies. Rich guys sooo bored they hunt humans.

Post: #93

@g

I like the ideas, maybe I am naive but are there really tons of classes etc with legit people on weekdays like this?

I am posing this question because I got bored and took a "staycation" Ina city I know well for a couple days during the weekday and was bored to tears until the lights went out. People are generally at work, unless I want to go milf hunting/unemployed girl hunting.

Sports are fine I can play a few pretty well, but again, I am not about to go play hoops with highschool kids on weekdays with my free time.

Post: #94

Why completely quit working?

Maybe work for fun as a change!

I just read that you're a good dancer, keep practicing, find out what it takes to teach it.

I don't think it would be such a bad idea to get a part-time job. You can put in some work during the day, have fun doing your job, meet new people, and even earn some extra cash.

Post: #95

^ that's kind of my point.

I thought about learning to become a personal trainer since I am into athletics. But realized more clients are going to expect weekends/nights... Which I wouldn't want to give up.

Ah fuck it I'll have to find a loophole myself, always do so time to move on.

Appreciate all the comments from the guys on this thread.

Post: #96

have you considered climbing mountains? there are some mad challenges out there
http://en.wikipedia.org/wiki/Seven_Summits

would also go really well with travel

Post: #97

How do I spend my time? First, I will give you some background on me so you have some frame of reference. I am 39, never married, 6 ft, fit (12% body fat), average game, live in Chicago, mid 7 figure net worth, work for myself.

So generally I will put in 25 hours per week managing my investments/business. I will go out 2-3x per week and travel every other weekend, usually with a member of my soft harem (I rotate 2-3 girls)

Example week -
Sun - sleep in, lift weights, run all my errands, cook a steak dinner
Mon - up early, run, spend the day at one of my portfolio companies
Tue - investment review, workout, dinner date w/some (hopefully attractive) girl
Wed - up early, run, spend the day at one of my portfolio companies
Thu - lift weights, doctor appt, meet some friends out for after work beers
Fri - early flight to Montreal for the weekend with a girl or solo

Hope this was helpful.

Post: #98

(06-19-2013 01:54 AM)Seadog Wrote:  I disagree with almost everything you wrote aside from your first point.

(06-18-2013 09:55 PM)wavestation Wrote:  By the time you are in your late 30's, if you still live like a college student and try to buy everything on sale, you'll have a nice lump sum. Try to figure out a way you can earn a part-time income (50-70K) on part time hours. Have fun.

Right, but now you're almost 40 and have wasted two of the best decades of your life scrimping and saving. I'm the first one to speak out against modern day spend thriftiness, but there needs to be a balance. What if you get hit by a bus? If you live like that till you die, you can die with $10m. Where is the point you say enough? 40 is as arbitrary as 25, 30, or 60.

(06-18-2013 09:55 PM)wavestation Wrote:  Of course, you can also go the entrepreneur route. You're not really seriously wealthy with less than at least $4-5 million. $2 million is $50K a year for 40 years.

Or $2m is 100-150k/yr in perpetuity, that is unless you got to the point of saving $2m and think there's nothing better to do with your money than stick it under the mattress. Again "serious wealth" is all subjective.

(06-18-2013 09:55 PM)wavestation Wrote:  There are a ton of things that rich people can do. You just aren't thinking about it. They can vacation in the South of France. They can hang out with other rich people. Rich people always have exclusive gatherings with other rich people since they are only comfortable around their own kind.

What do you mean vacation in south of France? Sit in a hotel room on your own? Prowl for ladies? Go to the beach? Get drunk and eat good food? You don't need a million dollars to do that. You also don't need to be in France. That would get as boring as hanging out in whereever you just left in short order I'm sure. Hang out with other rich people? And do what? Sit in nice chairs sipping brandy glowering down at the commoners? Again specifically how? Just go knock on the doors of big houses and say "you look rich, wanna hang out?" I would also disagree that rich folks are only comfortable around other richies. You seem to throw around a lot of loose terms and ideas, with no specific details.

(06-18-2013 09:55 PM)wavestation Wrote:  They run passion businesses, party a lot, have an amazing network, do sh*t like become socialites, artists or musicians. I mean even Kim Kardashian has busy schedule, she runs a clothing line, goes to parties, etc. I met a lot of rich people growing up and trust me, no one is sitting around playing video games and watching TV all day.

Again what do you mean just become a socialite, or go to parties. Your net worth and whether or not you're a person I want to hang out with are independent of each other. You make it sound like there's a secret formal club that only exists once you have X dollars, a clandestine network monitoring everyone's net worth that and once you hit some level they take you out back, tell you the address of that night's party, and teach you the handshake.

I never recommended living like a monk. Just don't get caught up in living in a 2k apartment, buy a luxury car, go on expensive vacations, buy pricy toys, etc.

If you start earning 100K at age 21, that's at least a decade of full earning power that can go straight to savings. You look like a chump living with roommates at age 40. Most people don't start earning 100k until age 32 or so, and soon thereafter you start spending a lot of it.

The compound interest on 400K at age 30 alone is huge.

Frankly there are better ways to make money than a job. But not everyone knows how to do this or is so inclined.

Secondly, you're not taking into inflation when you calculate that 100-150K a year. How much was a million dollars in 1973 (40 years ago)? Exactly.

100-150K is 5-7& returns. Subtract 3% for inflation and you are left with 60K for living costs, and you could probably draw down another $60K. 120K a year. More than enough for anyone retired, but hardly ballin.

As for the last part, all i'm saying is that it's not like rich people just sit around and play video games and watch TV. There's a ton of stuff to do out there if you have unlimited time and unlimited money.

Post: #99

I’m glad we’re discussing sex in relation to making money because it’s usually not taken seriously as a means of generating long-term wealth. You’ve all heard about lawyers making $40k/year, lottery winners and NFL players quickly going bankrupt, doctors worth less than their secretaries, and minimum-wage earners saving fortunes.

I recently read the comments section in response to an article about whether women should split the bill. One person who, if truthful, was a man, said he didn’t see the big deal in spending $100 a week on dating. Can you believe that? I don’t even think I could enjoy sex with a girl costing $100/week. That’s $5200 a year buddy! You begin putting $5200 a year into a Roth IRA at 20 earning a 7% annual return, you’ll have over $1 million at 60 and not have to pay a dime in taxes on it.

If I ever achieve serious wealth, assuming I’m still in the US, it’s not going to change the kinds of the girls I pursue, only the quantity. This is because maintaining a low cost-per-notch not only saves you money, but it also keeps you in the habit of pursuing only the women most enthusiastic about being with you.

1) The “nice girl” will often pay her own way, but comes with a strong risk of delaying sex. Splitting the bill could mean “I don’t want to feel obligated.” Sometimes you’ll have a financial profit dating these types. Sweet with a soft facial expression.

2) The “status-obsessed hot girl” is like a broken Mercedes. Looks great, but costs too much and often just lays there. Absolutely forbidden for long-term, but if you feel you have a chance of getting a quick bang, go for it while tightening your cost-per-notch allowance. It’s easy to spot these ones in the US because they typically have a hardened and prideful facial expression they see in movie actresses. Not every Mercedes is useless so move on.

3) The price of a “cool hot girl” will be reasonable, and she’ll probably be good to date, though you’ll have to decide quickly whether you believe she will make a good sexual partner. It’s possible, though not probable to have impressive price-to-quality ratios with these. Really just a more sexualized and expensive version of the “nice girl”.

4) The “horny butterface” may not require any dates and is the most likely to be enthusiastic about sex. Sorry, but that’s the way it works.

Post: #100

@john galt2

Thank you for the response as well.