Become Wealthier Than 90% Of The World In 24 Months. - Printable Version

+- Roosh V Forum (https://rooshvforum.network)
+-- Forum: Main (https://rooshvforum.network/forum-1.html)
+--- Forum: Life (https://rooshvforum.network/forum-5.html)
+--- Thread: Become Wealthier Than 90% Of The World In 24 Months. (/thread-24692.html)

---

Become Wealthier Than 90% Of The World In 24 Months. - samsamsam - 08-04-2013

Quote: (08-04-2013 05:14 PM)Majestic Wrote:  

Someone needs to start a thread called "Beginners Guide To Investing". I want to invest but at a total lost when it comes to this kinda stuff...

Majestic, I think the first getting into the right mindset. Meaning really dedicate yourself to making and saving money. Some people discuss the "how to" vs "intention". How tos are readily available and people make a lot of money telling people "how to". But intention/desire/ganas needs to be there first before one can ever get to the how tos. This is a crazy thought - but bear with me - let's say someone told you that you had to build a house in 6 months and if you didn't succeed something bad would happen. I am sure you would figure out how to get it done. With investing, same thing, get your intention up and your natural desire will let you find information to support you.

Not saying you do this, but others will make New Year's resolutions to go back to the gym and lose weight, they hit it hard for a week and then shit happens and they stop showing up. Gyms love it because they still collect fees without having to provide a service. Their intention wasn't very strong in wanting to lose weight, as evidenced by the steep drop off in gym attendance after New Years.

Making and saving money is mind over matter - heavy dedication effort.

I suggest one book first - Richest Man in Babylon - you might read it and say it is too simple - but it lays the most basic and critical principles for building wealth.

Investing involves understanding your risk profile, so if I were you, I would figure out what your risk profile is. Just know cautious investing gets smaller returns and aggressive investing can get you wiped out.

Also go over to http://www.pfblogs.org/ - start reading about others and their wealth building/investing efforts.

Hope this helps.

---

Become Wealthier Than 90% Of The World In 24 Months. - le prince perdu - 08-04-2013

Richest man in Baby is a great one, I'd also suggest:

- the intelligent investo
- ascent of money
- think and grow rich
- the science of getting rich
- rich dad poor dad
- millionaire fastlane
- laws of success
- mastery

These books give a good insight on money making/savings/investing/selling/innovating.

@samsam I'll check that website, looks interesting.

---

Become Wealthier Than 90% Of The World In 24 Months. - JayJuanGee - 10-04-2013

Quote: (06-09-2013 05:21 PM)TheCaptainPower Wrote:  

2 years later by busting my ass with shitty jobs, I had saved around $30 thousand dollars.
..................
I'm 33 years old, and I am now earning $350-450 a month just off interest/dividends/ and lending club.

Without considerable risk and/or luck on an ongoing basis, 30K is more likely to generate around $100 per month rather than $350-450 per month.

So, if you think that you can survive on $1,000 month passive income, then you will probably need at least $300K of capital. I am considering this money invested in a variety of diversified stock index funds to be mostly passive (maybe 1-2 hours a week to keep track of things).

Certainly there are other more risky ways to generate largely passive income, but to have consistent passive income, some of this risk would have to be hedged or lessened in some way.

If anyone has further tricks or vehicles to consistently generate higher rates of return, then I would like to know the trick. Generally, I don't consider real estate to be very passive, unless it is in stock funds. Sometimes, a person could get lucky with low maintenance real estate, but generally, it is going to require more time and risk, than stock funds.

---