Post: #26

(09-06-2013 08:01 PM)MikeCF Wrote:  

(09-06-2013 02:56 AM)Beyond Borders Wrote:  A 4 Part breakdown by the author can be found on his blog here: How I Became Financially Independent in 5 Years - Part 1

WestCoast, I understand it's not something you agree with, as it doesn't suit your lifestyle needs and personal philosophies, but with out of the box thinking and going extremely frugal for a short time, it is possible. Surely you can acknowledge that even if you don't think it's ideal.

You can cut through a lot of bullshit by learning simple math.

MikeCF, you're one of the posters whose contributions I respect the most on here, but it's clear you haven't thoroughly analyzed the material I'm referring to because your numbers and basic assumptions do not reflect the ideas and paradigms set forth.

And everything you've brought up has been answered or at least addressed, by the author. I don't know that it makes a ton of sense for us to get in a debate about whether or not it's plausible if we're not even talking about the same ideas or exploring them on fair grounds.

(09-06-2013 10:08 PM)WestCoast Wrote:  There is no player on here killing it on $1,000 a month get real. You're in cash burn land or top 1% looks and top 1% game.

I don't think anyone here has suggested that. The people who believe in setting aside five years of their life to become "financially independent" (by the author's standards) are making a sacrifice, which for some may include cutting back on the slaying pussy, for another type of goal. They're not claiming to be crushing birds left and right while they're doing it. In fact, if you've already read his work, you know he's not a player at all.

I get the feeling that those voicing their opposition here are just seeing it as impossible within their own expectations of life. All I'm saying is that if you operate from his life perspective, it is possible.

As for SEASIA, if a man were to adopt his life approach, he could live in Thailand for less than $500 a month if he absolutely wanted to - is that ideal? No. Would he be living a different lifestyle than most Thailand expats? Absolutely. But the ERE guy would use that time to increase his income in other ways once he was there. And he would probably never aim to live off $3K per month and smash a lot of girls because he's not about that life.

It's not about bringing in passive income off your investments so you can live large. It's about changing your idea of what's necessary and comfortable and then keeping your set expenses low enough that they can be covered by the income from your investments.

You can still choose to use your time to make more money and spend this additional money on whatever you want, but you maintain a ratio between passive income and set expenses that keeps you, by definition, financially free no matter what happens. What you do with that freedom is up to you.

All I said was that it's at least possible - not that I agreed with it. As far as I'm concerned, you confirmed my statement when you said:

Quote:I have read all those ERE blogs in the past, the math works for a non-player.

If the math works for a non-player, it is, therefore, possible. Even if it's not possible for you.

I do think a lot of us could benefit from some hybrid of the guy's ideas. His book especially is a very good philisophical read and highly recommended even if you don't agree with his lifestyle. If that guy was as hungry for puss and travel as we are here, I honestly think he'd fit in well on the forum.

I prefer to read a wide range of material, even if I don't full support it. It opens up my mind to new possibilities, and I can throw away what I don't want to adopt into my life.

Anyhow, I digress. We've gotten way off-topic - how about we talk more about hustling?

Beyond All Seas

"The individual has always had to struggle to keep from being overwhelmed by the tribe.
To be your own man is a hard business. If you try it, you'll be lonely often, and sometimes
frightened. But no price is too high to pay for the privilege of owning yourself." - Kipling

Post: #27

(09-06-2013 07:47 PM)booshala Wrote:  I've read that guys blog before and although I took away a lot of good ideas. That being said, his lifestyle is not attractive to me. I think I remember he lives in an RV and goes out in the fields to practice his swordplay as his major hobbies.

Once again, I wasn't advocating. I only asked WestCoast to acknowledge it was at least possible.

Also, some guys would rather have a simple woman at home that didn't mind him not being rich than go out to bars all the time, blowing cash and chasing pussy. In fact, the author's wife makes her own cash and lives a more normal lifestyle - he's convinced her to keep income separate. Inner game recognized.

You can absorb some of the guys' ideas without becoming a trailer park living swordsmith. Not to mention he also has a lot of other hobbies - reading and working out, two of the favorite past-times of forum members, being a couple of them.

Beyond All Seas

"The individual has always had to struggle to keep from being overwhelmed by the tribe.
To be your own man is a hard business. If you try it, you'll be lonely often, and sometimes
frightened. But no price is too high to pay for the privilege of owning yourself." - Kipling

Post: #28

(09-07-2013 04:32 AM)Beyond Borders Wrote:  

(09-06-2013 07:47 PM)booshala Wrote:  I've read that guys blog before and although I took away a lot of good ideas. That being said, his lifestyle is not attractive to me. I think I remember he lives in an RV and goes out in the fields to practice his swordplay as his major hobbies.

Once again, I wasn't advocating. I only asked WestCoast to acknowledge it was at least possible.

Also, some guys would rather have a simple woman at home that didn't mind him not being rich than go out to bars all the time, blowing cash and chasing pussy. In fact, the author's wife makes her own cash and lives a more normal lifestyle - he's convinced her to keep income separate. Inner game recognized.

You can absorb some of the guys' ideas without becoming a trailer park living swordsmith. Not to mention he also has a lot of other hobbies - reading and working out, two of the favorite past-times of forum members, being one of them.

Good points, BeyondBorders. Don't get me wrong: his frugality is admirable. I think that out of all the people that I know, I'm one of the best at getting maximal value out of most things. (Un)fortunately, I grew up quite privileged and have had a few really good years in my mid 20's where I made decent coin... That and being married to the granddaughter of a billionaire kind of set the bar on the lifestyle that I feel comfortable in living.

I know it does sound contradictory when I say that I want to be a fucking taxi driver, making $800 a weekend, while I have 6 figures in the bank, but that's just the kind of person I am. I wouldn't do it if it didn't sound fun, although to me, hustling is inherently fun.

To spin it back, I'm sort of interested in the "sell your car every 6 months" idea but I'm hopeless when it comes to ascertaining quality automobiles.

Post: #29

(09-07-2013 04:57 AM)booshala Wrote:  I wouldn't do it if it didn't sound fun, although to me, hustling is inherently fun.

Me too! I love hustling.

(09-07-2013 04:57 AM)booshala Wrote:  That and being married to the granddaughter of a billionaire kind of set the bar on the lifestyle that I feel comfortable in living.

Does she have any ugly cousins? Hook a Roosher up...

Beyond All Seas

"The individual has always had to struggle to keep from being overwhelmed by the tribe.
To be your own man is a hard business. If you try it, you'll be lonely often, and sometimes
frightened. But no price is too high to pay for the privilege of owning yourself." - Kipling

Post: #30

Reading money-mustache blog blew my mind. He lives on 25k/year (house full paid) for a family of 3. My restaurant and travel/entertainment bill is probably at least that.

There should be an active divide in your mind between luxury and necessity and a constant vigilance on increasing expenses. Beyond that, frugality turns into miser-ness.

In my opinion, there is nothing sadder than a rich person who is so cheap that he skimps on living life. I've met plenty of people on both ends, but I think as a whole people are happy having some "cheap luxuries" on the regular and avoid balling-out-of-control status expenses.

Post: #31

@Bb yes you can live in an RV and crappy establishment off of a G. The problem with this line of thinking is you're missing massive amounts of opportunity. You are barely investing in yourself, you don't even have the cash to reinvest in other schooling/skills/trades which will make you 2x more than simply chilling in an RV. Cash is bullets its not a ball and chain. It shouldn't be.

We can agree to disagree, the other irony here is they both worked for a decade.

Anyway, in terms of side hustles you guys should do all of them from your work computer so you have a 100% cash on cash return. I don't do anything on the side that I can't do from a computer screen because that requires me to tap into my free time, which is spent reading, learning Spanish and taking dance lessons.

Post: #32

(09-07-2013 01:52 PM)WestCoast Wrote:  I don't do anything on the side that I can't do from a computer screen because that requires me to tap into my free time, which is spent reading, learning Spanish and taking dance lessons.

Spoken like a true finance guy. I do this too: sign up for the class action settlements on my work computer. I also write my travel blog posts after 5:30pm so the boss sees me "working" on stuff after closing time and gives me the whole "you shouldn't work so hard" talk at least once a week. Alt+Tab is my best friend.

Post: #33

(09-07-2013 10:24 AM)DVY Wrote:  Reading money-mustache blog blew my mind. He lives on 25k/year (house full paid) for a family of 3. My restaurant and travel/entertainment bill is probably at least that.

There should be an active divide in your mind between luxury and necessity and a constant vigilance on increasing expenses. Beyond that, frugality turns into miser-ness.

In my opinion, there is nothing sadder than a rich person who is so cheap that he skimps on living life. I've met plenty of people on both ends, but I think as a whole people are happy having some "cheap luxuries" on the regular and avoid balling-out-of-control status expenses.

Good insight, guy. This is where all my airline miles and hotel points come into play. End up spending only a few hundred on premium flights that would normally be thousands of dollars and high end hotel rooms are free. Like you said, need to get some luxury into your life, but be cognizant of how much they're costing you.

I was reading the book "The Jewish Phenomenon: 7 keys to the enduring wealth of a people" and one of the seven attributes listed was being generally frugal but selectively extravagant. Sounds about right in line with that kind of thinking.

Post: #34

I'd rather focus my energies on making more money than on saving. Say you're working a ft job for 50k. You can live under a bridge and rustle through garbage for food, but the most you can possibly put in the bank for all your trouble is never going to be more than 50k. Realistically though, after taxes and living a miserly life that doesn't put you on the street means you'll probably save max 20k. But you'll sacrifice a lot of pleasures in life and it takes time to be cheap. You gotta find the best deals and so on. But if you get a side gig somewhere you at least have the potential to make much much more than 20k extra to stash in the bank, and other than time, you don't have to sacrifice your lifestyle. You might make 20k but depending on the gig, you could get lucky and bag 50 or 100k.

Saving money => limited upside.
Making money => unlimited upside.

Post: #35

dupe

Beyond All Seas

"The individual has always had to struggle to keep from being overwhelmed by the tribe.
To be your own man is a hard business. If you try it, you'll be lonely often, and sometimes
frightened. But no price is too high to pay for the privilege of owning yourself." - Kipling

Post: #36

(09-07-2013 01:52 PM)WestCoast Wrote:  We can agree to disagree

I don't disagree with you, WestCoast, but sure, let's move on.

I'd rather talk about making money than not making money anyways.

Beyond All Seas

"The individual has always had to struggle to keep from being overwhelmed by the tribe.
To be your own man is a hard business. If you try it, you'll be lonely often, and sometimes
frightened. But no price is too high to pay for the privilege of owning yourself." - Kipling

Post: #37

(09-06-2013 02:56 AM)Beyond Borders Wrote:  

(09-05-2013 11:07 AM)WestCoast Wrote:  ^ what? How is your run of the mill guy going to retire in 4 years ha.

Avg dude makes say $40-50 after tax even if you keep it all that ain't going anywhere.

http://www.amazon.com/Early-Retirement-E...nt+extreme

A 4 Part breakdown by the author can be found on his blog here: How I Became Financially Independent in 5 Years - Part 1

WestCoast, I understand it's not something you agree with, as it doesn't suit your lifestyle needs and personal philosophies, but with out of the box thinking and going extremely frugal for a short time, it is possible. Surely you can acknowledge that even if you don't think it's ideal.

It is possible to retire for life with just 4 years work. It all depends how bad you want it.

1. Get hired as police officer or fireman in NYS.
2. Work as much overtime as possible during those 5 years.
3. Get into an "accident" on the job after 4 years employment.
4. Apply for a disability pension which usually pays 75% of your average(best 3 years) annual salary and best of all is tax free.

I know like 3 guys who aren't even 30 and they have tax free lifetime disability pensions from the NYPD. 2 were in police car accidents and 1 fell on some boxes in his precinct and broke his shooting hand. I believe the last guy is scaming.

You do not have to be totally crippled to get the pension, all you need is to be able to articulate that you can't perform the customary duties of your position.

FDNY Firemen are notorious for abusing these pensions. They get them and they then get jobs working on their cousins construction crews.

Post: #38

(09-07-2013 01:52 PM)WestCoast Wrote:  @Bb yes you can live in an RV and crappy establishment off of a G. The problem with this line of thinking is you're missing massive amounts of opportunity. You are barely investing in yourself, you don't even have the cash to reinvest in other schooling/skills/trades which will make you 2x more than simply chilling in an RV. Cash is bullets its not a ball and chain. It shouldn't be.

We can agree to disagree, the other irony here is they both worked for a decade.

Anyway, in terms of side hustles you guys should do all of them from your work computer so you have a 100% cash on cash return. I don't do anything on the side that I can't do from a computer screen because that requires me to tap into my free time, which is spent reading, learning Spanish and taking dance lessons.

I kinda agree with you.

I just finished reading ''Your money or your life'' and my general thought is that the author must be living a very frugal life. However I don't think I need 5 thousand dollars per month to be living the lifestyle i want to live and I am sure i can do it on 2k per month. I just don't want to avoid or postpone my wants because i don't have enough money to do/live them.

I don't want to minimise my costs on social events that would enrich my life. I don't want to be budgeting for every single thing. I just bought a bunch of new clothes and guess what? I am fucking a whole bunch of new quality chicks and I am attracting a different group of girls. Would that be possible if i was budgeting on buying clothes? Hell no. Are these girls stupid because they want somebody that dresses good? Should we look for girls who likes us for who we are? Who are we? A guy that dresses average?

I don't think i need rich type of money to be living the lifestyle i want to live but I don't want to be living like the average guy and for that I need some money.

p.s. we should create a thread reviewing the book ''your money or your life'', it killed me when the author said if you feeling like going abroad, you can ignore that feeling and decide to have fun in your city by entertaining yourself for a fraction of the cost...I'm like no thank you..if it is really about my life, then I want to be travelling whenever I feel like.

Post: #39

How do you navigate topclassactions.com to see what you're
eligible for?

Post: #40

(09-08-2013 01:25 PM)houston Wrote:  How do you navigate topclassactions.com to see what you're
eligible for?

Just go on the "open lawsuits" section and see if any of the settlements apply to you. Pretty basic.

Post: #41

I just read through this thread, and yes, I noticed that it meanders somewhat through topics, but not without reason because likely we each strive for a bit of passive income in order to achieve a certain level of financial independence – while at the same time having potential ways to make more money through side hustling. In that regard, if we can become financially independent and achieve some sources of passive income, then we can work for game, hustle and fun and not because we are forced to work. If possible?

(09-07-2013 04:08 AM)Beyond Borders Wrote:  I don't think anyone here has suggested that. The people who believe in setting aside five years of their life to become "financially independent" (by the author's standards) are making a sacrifice, which for some may include cutting back on the slaying pussy, for another type of goal. They're not claiming to be crushing birds left and right while they're doing it. In fact, if you've already read his work, you know he's not a player at all.
……………………

As for SEASIA, if a man were to adopt his life approach, he could live in Thailand for less than $500 a month if he absolutely wanted to - is that ideal? No. Would he be living a different lifestyle than most Thailand expats? Absolutely. But the ERE guy would use that time to increase his income in other ways once he was there. And he would probably never aim to live off $3K per month and smash a lot of girls because he's not about that life.

BB, et al…. :
I read all four parts of the article also: “How I Became Financially Independent in 5 Years - Part 1”
The author may not be into gaming girls, but I would think on RVF, we want to consider ways to incorporate the costs of such gaming and banging girls into our lifestyles. Of course a lot of us on this forum are interested in incorporating slaying into our lives, no matter what the budget we may have; however, slaying in certain cities is going to cost much more than it will in other places. In any event, I would think that we would ONLY incorporate sacrifices into our life strategy plans that would include slaying birds rather than giving up on such practices.

Also, many of the threads on this forum discuss ways in which we create the impression of income or DHV and get the girls to bang through those kinds of tactics, and maybe we need some money to do that, but probably we do NOT need as much as money as we sometimes may think that we need in order to create impressions and even to have good times while we are doing it.

From my understanding of the cost of living and wanting to live a somewhat decent lifestyle, a passive income of $500 a month will cause quite a few sacrifices in most places on the planet; however, if we are looking in the $2,000 range and living in a low-cost location, this may be more doable than we think, yet we will also have to factor in the costs of likely expenses for travel several times a year… or even travel around the region – whether SEA or some other low cost area of the world. And, part of the reason we can budget in the costs of travel would be that the other aspects of living or travelling in low cost areas of the world allows some savings of money (possibly by not having certain 1st world expenses like a mortgage and cars).

(09-07-2013 04:08 AM)Beyond Borders Wrote:  You can still choose to use your time to make more money and spend this additional money on whatever you want, but you maintain a ratio between passive income and set expenses that keeps you, by definition, financially free no matter what happens. What you do with that freedom is up to you.

BB: I understood this as the point of the article, as well, and you frequently will describe these concepts much more eloquently than me.. but the point to live within our means to such a point that we choose the extent to which we need to or want to work and we do not have to work, if we chose not to work and still we are content with our activities and our material wealth - a sort of mind-set of being happy to live within our means – whatever that may be (of course we can increase our means, if we feel necessary, but we do not have to). How much passive income we need to achieve such ability to live within our means is definitely gonna vary from person to person.

(09-08-2013 02:38 AM)playa_with_a_passport Wrote:  It is possible to retire for life with just 4 years work. It all depends how bad you want it.

....................


4. Apply for a disability pension which usually pays 75% of your average(best 3 years) annual salary and best of all is tax free.

I know like 3 guys who aren't even 30 and they have tax free lifetime disability pensions from the NYPD. 2 were in police car accidents and 1 fell on some boxes in his precinct and broke his shooting hand. I believe the last guy is scaming.

You do not have to be totally crippled to get the pension, all you need is to be able to articulate that you can't perform the customary duties of your position.

FDNY Firemen are notorious for abusing these pensions. They get them and they then get jobs working on their cousins construction crews.

Playa: Many public employees have these various kinds of disability or workers compensation benefits - which are probably similar to benefits that USED TO BE present in the private sector as well - except for the past approximately 30 years, these various benefits, perks and income security has largely been disappearing in the private sector in the United States - and all that is left in the private sector is Social Security benefits, which are much more difficult to get… and you have to nearly be dead (or at least totally disabled) to get social security disability benefits.

Ultimately, we have a sad set of affairs in this country - not b/c of the abuse of these kinds of benefits, but instead b/c the public sector is probably one of the ONLY places that still have various kinds of benefits like these that should exist to protect workers throughout the economy.

But, if any of us can figure out ways to qualify for such benefits and still continue to engage in meaningful activities, such as travelling and banging women, then that should be a decent income source… except maybe for some of the hassles of continuing to have to verify eligibility – to the extent that may exist with some disabilities and some disability systems.

Also, usually before anyone is entitled to receive any of these kinds of disability benefits, they have to be vested in their employment (a couple of years, usually) and their condition has to medically fit the criteria in which they are no longer able to perform some essential functions of the position that they were in and the Employer has had to have sufficiently attempted to accommodate (without success) the medical condition.

I think that the level of the disability benefit can vary depending on the agency and depending on whether it was an injury on the job or off of the job. There is usually some amount (maybe the first $15,000) that is tax exempt; however, I think that many of these kinds of incomes will be taxable - maybe the taxable aspect is different if the payment is workers comp.. meaning a job-related injury rather than some injury or disease that came outside of the job?

(09-08-2013 07:59 AM)pitt Wrote:  I don't want to minimise my costs on social events that would enrich my life. I don't want to be budgeting for every single thing. I just bought a bunch of new clothes and guess what? I am fucking a whole bunch of new quality chicks and I am attracting a different group of girls. Would that be possible if i was budgeting on buying clothes? Hell no. Are these girls stupid because they want somebody that dresses good? Should we look for girls who likes us for who we are? Who are we? A guy that dresses average?

I don't think i need rich type of money to be living the lifestyle i want to live but I don't want to be living like the average guy and for that I need some money.

Pitt: It seems that I agree with everything that you said in your post; however, I believe that a guy can still budget and do the things that you describe in your post. You can still buy nice clothes and likely, you could live above and beyond the life of the average guy. However, probably, there may be times in which deferred gratification would have to take place in order to attempt to achieve financial independence, especially, if a person does not come from money (or somehow achieve it by luck) but wants to make himself financially independently without killing himself or his health in the process. In this regard, there may be life choices, and some people do not mind working their asses off for 16 hours a day 7 days a week, and believe me I have done that, too. Currently, I am developing less passion for getting myself into those kinds of work-a-holic modes because I am certainly capable of such work-a-holic modes…. But the point is that I would rather have these bouts of work-a-holic to be of my own making, rather than the fact that my boss is telling me or that I am living too much beyond my means to be able to fund all of my “fun.”

Post: #42

Booshala, do you file claims for things you can't provide proof for?

For example, the cipro lawsuit says you are capped at 80% if you can't provide proof.

Or the tainted gas where you may have bought gas between a certain period in specific states?

Can this come back to bite you in the ass?

Post: #43

Hey fisto,

I'm kind of a stickler when it comes to keeping receipts to write off as business expenses, so I usually have proof for the claims. Some don't even ask for proof, but I think all of them warn you that you're signing up at the risk of perjuring yourself.

YMMV on what the legal ramifications are as this is not legal advice and I am not a lawyer. You seem like you're a reasonable person, so adjust to your comfortability levels as appropriate.

Post: #44

Booshala, why did you stop the AARP hustle? Did they stop offering the 5% cash back?

Post: #45

There's a Naked Juice class action settlement right now. $45 with no proof of purchase. $75 if you can provide proof.

$15 for Kellogg's.

Takes like a minute to fill out a form.

Post: #46

thank you!

Post: #47

(09-29-2013 10:43 AM)MSW2007 Wrote:  Booshala, why did you stop the AARP hustle? Did they stop offering the 5% cash back?

They stopped giving 5% cash back a long time ago. Too many people hit it hard, especially with the mint coins being offered at the time. It was almost like printing money.

Post: #48

(10-01-2013 12:13 AM)booshala Wrote:  

(09-29-2013 10:43 AM)MSW2007 Wrote:  Booshala, why did you stop the AARP hustle? Did they stop offering the 5% cash back?

They stopped giving 5% cash back a long time ago. Too many people hit it hard, especially with the mint coins being offered at the time. It was almost like printing money.

I got you. One hell of a hustle, well done. I was talking about this to a few associates of mine that are quite liquid and they were willing to put up six figure sums of money for something like this. Inspirational as hell.

Post: #49

Ordering stuff off of Alibaba.com and selling it on ebay seems like it would earn decent coin.

Startupbros did a pretty informative post on this.

http://www.startupbros.com/step-by-step-...t-to-sell/

Post: #50

(09-29-2013 10:57 AM)Hencredible Casanova Wrote:  There's a Naked Juice class action settlement right now. $45 with no proof of purchase. $75 if you can provide proof.

$15 for Kellogg's.

Takes like a minute to fill out a form.

do you have to live in the us to fill out these forms?