making a million is easier than maintaining it... - GoFuckYourself.com

quiet · 03-16-2004, 12:18 AM

once you're rich, you face a lifetime of retaining that wealth. how do you do it? discuss...

CyberTraffic · 03-16-2004, 12:19 AM

I'll let you know when I hit 2.

quiet · 03-16-2004, 12:20 AM

Quote:

Originally posted by CyberTraffic
I'll let you know when I hit 2.

cool, but not really the question

sixxxth_sense · 03-16-2004, 12:21 AM

who says u haveto retain it???? fucking JEW!!!!

Illicit · 03-16-2004, 12:22 AM

wise investments. nothing too risky

Amputate Your Head · 03-16-2004, 12:22 AM

retain it for what?

you can't take it with you.... no matter how much you may want to.

CyberTraffic · 03-16-2004, 12:22 AM

Quote:

Originally posted by quiet

cool, but not really the question

Sorry bro, going a hundred miles an hour on pure ambition. I'll aim better the next round.

Back to work!

AlienQ - BANNED FOR LIFE · 03-16-2004, 12:24 AM

Quote:

Originally posted by quiet
once you're rich, you face a lifetime of retaining that wealth. how do you do it? discuss...

You don't.
The less you have the more you earn.

REINVESTMENTS bud!

Gimme 500k and I can show you how to REALLY make money.

Sorry it won't be in porn though.
Its to played out.

quiet · 03-16-2004, 12:24 AM

Quote:

Originally posted by Amputate Your Head
retain it for what?

you can't take it with you.... no matter how much you may want to.

definitely. but let's assum X amount will not get you all the way there. ie: the tank runs out before you reach the finish line.

chowda · 03-16-2004, 12:25 AM

well dont just look at ur lifetime, if u plan on passing it down, how will u maintain it.

03-16-2004, 12:25 AM

assets assets assets

I know it sounds simple

sixxxth_sense · 03-16-2004, 12:26 AM

Quote:

Originally posted by quiet

definitely. but let's assum X amount will not get you all the way there. ie: the tank runs out before you reach the finish line.

borrow money and make it to the FINISH line! fawk just dont quit!

Doctor Dre · 03-16-2004, 12:26 AM

Yea money is definitly too easy to spend . You think you are making a good thing by getting a million $ house but next thing you know you are broke and forced to sell it for 200k . Look at Mike Tyson.

quiet · 03-16-2004, 12:26 AM

Quote:

Originally posted by AlienQ
[B]
Gimme 500k and I can show you how to REALLY make money.

just trying to start some conversation, but after reading that - just tell me where to send the check

Illicit · 03-16-2004, 12:27 AM

Real Estate... Lots of Rental properties. then hire a management company to take care of it. Just collect the profits. Cant loose money in Real Estate.

beemk · 03-16-2004, 12:27 AM

i would probably invest it in rental houses... here in the midwest you can get an easy 10+ houses for a million and rent out for around 800 a month.

SomeCreep · 03-16-2004, 12:28 AM

Quote:

Originally posted by Amputate Your Head
retain it for what?

you can't take it with you.... no matter how much you may want to.

I never understood that. When your dead you dont want to take it with you. You might want to retain it so your family will be well off after you are gone though right?

beemk · 03-16-2004, 12:28 AM

Quote:

Originally posted by ajpiii
Real Estate... Lots of Rental properties. then hire a management company to take care of it. Just collect the profits. Cant loose money in Real Estate.

of course you can. what if you over pay on the houses?

Brujah · 03-16-2004, 12:29 AM

own nothing. control everything.

quiet · 03-16-2004, 12:29 AM

Quote:

Originally posted by beemk
i would probably invest it in rental houses... here in the midwest you can get an easy 10+ houses for a million and rent out for around 800 a month.

and you would invest most of your net purely into real estate (or even local real estate only)? i hear this all the time...

quiet · 03-16-2004, 12:30 AM

Quote:

Originally posted by Brujah
own nothing. control everything.

over quoted, but always good.

Illicit · 03-16-2004, 12:30 AM

Quote:

Originally posted by beemk
of course you can. what if you over pay on the houses?

then it takes time to make it back up, but with time it would be profitable

AlienQ - BANNED FOR LIFE · 03-16-2004, 12:30 AM

Quote:

Originally posted by quiet

just trying to start some conversation, but after reading that - just tell me where to send the check

Gimme another year on that.
I got a couple more things to do first.

quiet · 03-16-2004, 12:31 AM

Quote:

Originally posted by ajpiii
Real Estate... Lots of Rental properties. then hire a management company to take care of it. Just collect the profits. Cant loose money in Real Estate.

you can lose huge in real estate.

Fletch XXX · 03-16-2004, 12:31 AM

Drew Carey had the idea.

Your own BEER Company!

Abyss_Vee · 03-16-2004, 12:31 AM

REAL ESTATE

Just like monopoly ....

buy 4 houses,,, trade it in for a hotel.. and keep goin

Illicit · 03-16-2004, 12:32 AM

Quote:

Originally posted by Abyss_Vee
REAL ESTATE

Just like monopoly ....

buy 4 houses,,, trade it in for a hotel.. and keep goin

Just ask Trump

chowda · 03-16-2004, 12:34 AM

the real good deal in real estate comes from commercial holdings.

thats where the big risk is.

but if u can sychronize potential commercial ppl with valuable spots, then u have good money.

edit: can all of u not quote rich dad's book, its fucken annoying as is.

03-16-2004, 12:35 AM

This is a great questions. I feel the key to keeping the nestegg growing is having sound financial advice that points you in the right direction in regards to investments. Just like porn, having your money spread out among a few ventures is a smart thing. If all is put in Real Estate or Day Trading, you may end up losing what was once a great amount.

Also, making sure you always have good solid legal and tax advice will give you a lot les headaches. Regardless of what you invest in though, make sure YOU have knowledge to make smart decisions, and just use those behind you to double check your decisions.

Brujah · 03-16-2004, 12:39 AM

early to bed, early to rise

quiet · 03-16-2004, 12:42 AM

Quote:

Originally posted by Brujah
early to bed, early to rise

you can't stay away from my threads

hova · 03-16-2004, 12:43 AM

I dont think it is to hard to maintaining being rich, just invest invest invest.......an dont buy a bentley with your first mil

SleazyDream · 03-16-2004, 12:45 AM

good fucking question.

although I save a percentage of my income I blow everything else and my tastes increase to that level. How the fuck does one retire knowing the money saved will keep pace with one's appitite!!!!!!

AWW - Kevin · 03-16-2004, 12:45 AM

i'm sure i remember you asking this once before ... regardless
imo houses offer rather small returns (most of the time 5% or less) we have commercial properties, which can return 10% from the start and nice growth each year as well, there is no reason a good property can't alteast increase 10% in value making it a return of 20% + per year !

AWW - Kevin · 03-16-2004, 12:47 AM

Quote:

Originally posted by hova
I dont think it is to hard to maintaining being rich, just invest invest invest.......an dont buy a bentley with your first mil

i think he's way past his first mil. and secondly telling someone to invest is easy where to invest is the big Q?

Honeyslut · 03-16-2004, 12:50 AM

Well, mowing the lawn helps retain it.

imJason · 03-16-2004, 12:54 AM

jsut be conservative and live withing your means,

I have a house, 100% payed cash, low property taxes in good shape, well within my means, even alot below my means,

buts its all I nead to live,

as for the rest,

savings and realestate man,

I buy locally cause I know the people and the area,

so I know whats its worth,

and savings, bonds and a ahit load of cash,

oh and dont take on un manageble debt,

and do go down with a shinking ship,

some people jsut cant stop when things stary going bad,

oh, and proper set up, legally, so like you can get sued,

like when you have multiple millions,

you should have a few companys, some offshore and some holding companies,

and trust funds,

all legal ofcourse,

do all this within the law and as conservative as posible,

exspamr · 03-16-2004, 12:56 AM

Quote:

Originally posted by quiet

you can lose huge in real estate.

yeah if you are stupid... if you do things wisely, buy and rent you can have your tennants paying the mortgage on your properties

Col. Beauford D. Horton · 03-16-2004, 12:56 AM

Become an antisocial miser and live on cold oatmeal and lentils in a small, unheated shack in a remote part of Jasper park.

I'll bet Ted Kacyzinski never worried about money.

cherrylula · 03-16-2004, 12:56 AM

Quote:

Originally posted by SleazyDream
good fucking question.

although I save a percentage of my income I blow everything else and my tastes increase to that level. How the fuck does one retire knowing the money saved will keep pace with one's appitite!!!!!!

99 cent big mac Fridays!!!

quiet · 03-16-2004, 12:57 AM

Quote:

Originally posted by exspamr

yeah if you are stupid... if you do things wisely, buy and rent you can have your tennants paying the mortgage on your properties

if you think only the stupid have lost huge money on real estate, i can only chuckle.

quiet · 03-16-2004, 12:58 AM

Quote:

Originally posted by Col. Beauford D. Horton
Become an antisocial miser and live on cold oatmeal and lentils in a small, unheated shack in a remote part of Jasper park.

I'll bet Ted Kacyzinski never worried about money.

in many way's Ted had the right idea.

Mr. Marks · 03-16-2004, 01:00 AM

Maintaining it means that you just have to keep on doing what you do best in makin gmoney. You wouldn't reach 1M without knowing what you're doing. Just continue the good stuff, and stay away from money-losing bad habits like gambling, or investing too much to double the amount the easy way.

exspamr · 03-16-2004, 01:01 AM

Quote:

Originally posted by quiet

if you think only the stupid have lost huge money on real estate, i can only chuckle.

im talking about people who take risks that are too large... if you are conservative its extremely hard to lose money in real estate

anyway back to the title of this thread, i disagree, i think its easy to maintain the money than it is to get it... the key is to be conservative... live within your means and live off your interest... how do you think a lot of rich people afford to just throw money around... once you have a ton of money you can figure out exactly what you are able to spend without going into the principal

stocktrader23 · 03-16-2004, 01:02 AM

Quote:

Originally posted by beemk
i would probably invest it in rental houses... here in the midwest you can get an easy 10+ houses for a million and rent out for around 800 a month.

$8000 a month for a mill invested? Pfff. Could easily pull down $20,000 to $40,000 a month with 1 million in real estate here. Still shitty returns if you ask me.

bcooter · 03-16-2004, 01:04 AM

logged on a little late to say it first, but ill repeat the correct answer. real estate.

you can buy stocks/ bonds/ start companies/ put it in trust funds

but for some reason, quality real estate is the one thing they dont make more of. if you find a knowledgable real estate agent, and learn a little yourself, you cant lose. in the past 30 years real estate is the ONLY market that has CONTINUOSLY increased year after year.

quiet · 03-16-2004, 01:04 AM

all i'd ever ask is a garanteed 10% every single year (hell, i'd take 8%), with zero risk, for the rest of my life. i would be in nirvana. instead, it will always be a job.

i am a lurker · 03-16-2004, 01:05 AM

its almost as hard as pretending to fly on the concorde and then getting called out on it on gfy, right quiet

BradM · 03-16-2004, 01:06 AM

I keep $20 in my piggy bank as a reserve fund.

03-16-2004, 01:08 AM

Quote:

Originally posted by quiet
all i'd ever ask is a garanteed 10% every single year (hell, i'd take 8%), with zero risk, for the rest of my life. i would be in nirvana. instead, it will always be a job.

why not invest in the canadian government?

03-16-2004, 12:18 AM	#1
quiet we'll miss you our friend. RIP Industry Role: Join Date: Sep 2001 Location: Fernie, BC Posts: 25,115	making a million is easier than maintaining it... once you're rich, you face a lifetime of retaining that wealth. how do you do it? discuss... __________________ we'll miss you our friend. RIP

03-16-2004, 12:22 AM	#5
Illicit wtf ? Join Date: Dec 2003 Location: GFY Posts: 11,895	wise investments. nothing too risky __________________ Insert Sig Here

03-16-2004, 12:22 AM	#6
Amputate Your Head There can be only one Industry Role: Join Date: Aug 2001 Location: Somewhere else Posts: 39,075	retain it for what? you can't take it with you.... no matter how much you may want to. __________________ SIG TOO BIG

03-16-2004, 12:25 AM	#10
chowda Confirmed User Join Date: Jun 2003 Location: Gooch city Posts: 9,527	well dont just look at ur lifetime, if u plan on passing it down, how will u maintain it. __________________ Someone finds you... 2007 PS: Nationalnet is the best host I've ever had. And i tried alot of them.

03-16-2004, 12:27 AM	#15
Illicit wtf ? Join Date: Dec 2003 Location: GFY Posts: 11,895	Real Estate... Lots of Rental properties. then hire a management company to take care of it. Just collect the profits. Cant loose money in Real Estate. __________________ Insert Sig Here

03-16-2004, 12:19 AM	#2
CyberTraffic Confirmed User Join Date: Feb 2004 Location: Traffic Land ~ ICQ:213666533 Posts: 2,187	I'll let you know when I hit 2.

03-16-2004, 12:21 AM	#4
sixxxth_sense So Fucking Banned Join Date: Nov 2003 Location: T.O. Posts: 2,430	who says u haveto retain it???? fucking JEW!!!!

03-16-2004, 12:25 AM	#11
buddyjuf Guest Posts: n/a	assets assets assets I know it sounds simple

03-16-2004, 12:27 AM	#16
beemk CLICK HERE Industry Role: Join Date: Jan 2002 Posts: 20,829	i would probably invest it in rental houses... here in the midwest you can get an easy 10+ houses for a million and rent out for around 800 a month. __________________ I host with Vacares

03-16-2004, 12:29 AM	#19
Brujah Beer Money Baron Industry Role: Join Date: Jan 2001 Location: brujah / gmail Posts: 22,157	own nothing. control everything. __________________ Free Premium Domain Lists and Tools at Clickmojo.com For Sale: Obscenity.com

03-16-2004, 12:31 AM	#25
Fletch XXX GFY HALL OF FAME DAMMIT!!! Join Date: Jan 2002 Location: that 504 Posts: 60,840	Drew Carey had the idea. Your own BEER Company! __________________ Want an Android App for your tube, membership, or free site? Need banners or promo material? Hit us up (ICQ Fletch: 148841377) or email me fletchxxx at gmail.com - recent work - About me

03-16-2004, 12:31 AM	#26
Abyss_Vee Confirmed User Join Date: Sep 2003 Location: Los Angeles Posts: 5,208	REAL ESTATE Just like monopoly .... buy 4 houses,,, trade it in for a hotel.. and keep goin

03-16-2004, 12:34 AM	#28
chowda Confirmed User Join Date: Jun 2003 Location: Gooch city Posts: 9,527	the real good deal in real estate comes from commercial holdings. thats where the big risk is. but if u can sychronize potential commercial ppl with valuable spots, then u have good money. edit: can all of u not quote rich dad's book, its fucken annoying as is. __________________ Someone finds you... 2007 PS: Nationalnet is the best host I've ever had. And i tried alot of them. Last edited by chowda; 03-16-2004 at 12:37 AM..

03-16-2004, 12:35 AM	#29
shermo Guest Posts: n/a	This is a great questions. I feel the key to keeping the nestegg growing is having sound financial advice that points you in the right direction in regards to investments. Just like porn, having your money spread out among a few ventures is a smart thing. If all is put in Real Estate or Day Trading, you may end up losing what was once a great amount. Also, making sure you always have good solid legal and tax advice will give you a lot les headaches. Regardless of what you invest in though, make sure YOU have knowledge to make smart decisions, and just use those behind you to double check your decisions.

03-16-2004, 12:39 AM	#30
Brujah Beer Money Baron Industry Role: Join Date: Jan 2001 Location: brujah / gmail Posts: 22,157	early to bed, early to rise __________________ Free Premium Domain Lists and Tools at Clickmojo.com For Sale: Obscenity.com

03-16-2004, 12:43 AM	#32
hova Traffillionaire Industry Role: Join Date: Jan 2002 Location: ICQ:209371571 Posts: 22,430	I dont think it is to hard to maintaining being rich, just invest invest invest.......an dont buy a bentley with your first mil __________________ http://traffillions.com/ Sign up and get lifetime revshare on your traffic

03-16-2004, 12:45 AM	#33
SleazyDream I'm here for SPORT Industry Role: Join Date: Jul 2001 Location: Phone # (401) 285-0696 Posts: 41,470	good fucking question. although I save a percentage of my income I blow everything else and my tastes increase to that level. How the fuck does one retire knowing the money saved will keep pace with one's appitite!!!!!! __________________ This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog! Now read without the word dog.

03-16-2004, 12:45 AM	#34
AWW - Kevin Confirmed User Industry Role: Join Date: Jan 2002 Location: AdultWebmasterInfo Posts: 2,353	i'm sure i remember you asking this once before ... regardless imo houses offer rather small returns (most of the time 5% or less) we have commercial properties, which can return 10% from the start and nice growth each year as well, there is no reason a good property can't alteast increase 10% in value making it a return of 20% + per year ! __________________ Add Your Resource ICQ: 1212-58311

03-16-2004, 12:50 AM	#36
Honeyslut Confirmed User Industry Role: Join Date: Jan 2001 Location: Ass Valley, Ca Posts: 6,436	Well, mowing the lawn helps retain it. __________________ http://nakedlunchnews.comWhat's up ? Naked Lunch News !

03-16-2004, 12:54 AM	#37
imJason Confirmed User Join Date: Sep 2002 Location: Montreal Posts: 1,215	jsut be conservative and live withing your means, I have a house, 100% payed cash, low property taxes in good shape, well within my means, even alot below my means, buts its all I nead to live, as for the rest, savings and realestate man, I buy locally cause I know the people and the area, so I know whats its worth, and savings, bonds and a ahit load of cash, oh and dont take on un manageble debt, and do go down with a shinking ship, some people jsut cant stop when things stary going bad, oh, and proper set up, legally, so like you can get sued, like when you have multiple millions, you should have a few companys, some offshore and some holding companies, and trust funds, all legal ofcourse, do all this within the law and as conservative as posible, __________________ IM Jason 31227578 http://www.vidsvidsvids.com

03-16-2004, 12:56 AM	#39
Col. Beauford D. Horton Confirmed User Join Date: Mar 2004 Location: Dixie Posts: 140	Become an antisocial miser and live on cold oatmeal and lentils in a small, unheated shack in a remote part of Jasper park. I'll bet Ted Kacyzinski never worried about money. __________________ Its coming.

03-16-2004, 01:00 AM	#43
Mr. Marks Confirmed User Join Date: Jun 2001 Location: Wherever I want Posts: 7,517	Maintaining it means that you just have to keep on doing what you do best in makin gmoney. You wouldn't reach 1M without knowing what you're doing. Just continue the good stuff, and stay away from money-losing bad habits like gambling, or investing too much to double the amount the easy way.

03-16-2004, 01:04 AM	#46
bcooter Confirmed User Join Date: Jan 2004 Location: Detroit Posts: 797	logged on a little late to say it first, but ill repeat the correct answer. real estate. you can buy stocks/ bonds/ start companies/ put it in trust funds but for some reason, quality real estate is the one thing they dont make more of. if you find a knowledgable real estate agent, and learn a little yourself, you cant lose. in the past 30 years real estate is the ONLY market that has CONTINUOSLY increased year after year. __________________ Where I make All My Non-Adult Money

03-16-2004, 01:05 AM	#48
i am a lurker Confirmed User Join Date: Mar 2004 Posts: 521	its almost as hard as pretending to fly on the concorde and then getting called out on it on gfy, right quiet

03-16-2004, 01:06 AM	#49
BradM Confirmed User Join Date: Dec 2003 Location: 1123,6536,5231 Posts: 3,397	I keep $20 in my piggy bank as a reserve fund.