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... :)

I'll let you know when I hit 2.

:glugglug

cool, but not really the question :)

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

wise investments. nothing too risky

retain it for what?

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

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

Back to work!

:glugglug

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.

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.

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

assets assets assets

I know it sounds simple :1orglaugh

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

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.

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

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.

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 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?

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

own nothing. control everything.

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

over quoted, but always good.

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

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

you can lose huge in real estate.

Drew Carey had the idea.

Your own BEER Company!

:thumbsup

REAL ESTATE

Just like monopoly ....

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

:thumbsup

Just ask Trump

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.

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. :thumbsup

early to bed, early to rise

you can't stay away from my threads :glugglug

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

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!!!!!!

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 !
:2 cents:

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

Well, mowing the lawn helps retain it.:1orglaugh

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,

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

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.

99 cent big mac Fridays!!! :1orglaugh