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[Comfort_Eagle]

I'm not rich but I do have it pretty good.

My folks have a nice place and I live with them. I have a good job and I don't have any debt. I bought a new car in 2003 and I was able to pay it off in a year. Since then I've been putting away around $2500 a month so that I can buy a house because I refuse to throw money away on rent and my parents agree with me. I've got like $25,000 in the bank so far. The rest I spend on gas, video games, going out, etc. I don't pay any rent but I do buy my parents nice things pretty often.

One thing I can say is that I do know the value of a dollar. We didn't always have it this well. When my parents started out they had an empty apartment with a matress and a little kitchen table and that's it! My parents worked very hard to get where they are today and watching them work hard taught me to do the same thing.

I will say though....one thing that sucks about having money is that you usually end up living around nothing but republicans. We are the only democrats we know around here. It would be nice to have someone else around here that shared our philosophy. Its very frustrating living around people who still vehemently believe that Sadam had WMDs and shit like that. Its like living in the twilight zone. And they all have those annoying "W"s on their cars. It makes me ill. It really does.

Thats actually really cool. Although i wouldnt want to live at home, saving that type of money each month would be nice! Good for you! I feel the same as you do about working. My parents worked their asses of to get were they are and I just want to do the same.

 

[teh_pwn]

I've got like $25,000 in the bank so far.

Is it literally in a bank savings account? Because it shouldn't be. You could put that into something near risk free like Vanguard's wellington mutal fund and make 10% of what you've invested every year. So next year you'd have 27500, and so on. You'll end up tripling your investment every decade. So in 40 years it'll be 81 times it's value (over $2 million). That's assuming no further investing.

I'm sure you know all of this, but saying you've put it in a bank makes me want to bang my head against my desk. With your lifestyle, you could become a mult-millionare in 15 years.

 

[yoshifumi]

i'm not rich but i guess i'm pretty well off...well my family's pretty well off, i have to really weasel money out of them though. :/

edit: well actually not really, they're paying for my education, but i meant i still weasel cash out of them for my own sake because i'm a shitty person.

 

[opkal]

I'd say my family is in the fairly well off, but not rich category, unfortunately for me (well, fortunately when you look at the big picture I guess) not a cent has come my way for school, the only way I can pay that off is because I saved basically all my earnings through high school, and I'm a cheap, cheap bastard.

 

[fart]

I guess I can afford it because I am good at saving my money. I don't like shopping much (I only buy clothes like twice a year LOL), so all of my free money usually goes to videogames, books or DVDs. I also limit myself to spending only half of what I deposit into my checking every month. What I need also holds priority over videogames and the other things that I want. I'm a firm believer in that if you know how to manage your money right, you can afford just about anything over time. My PS2 collection is huge for example, but I only ever bought one or two games a month.

your daddy bought you a pony.

 

[MoxManiac]

I'm not rich, my priorities are fucked up, that's all.

 

[Fragamemnon]

I'm 27-doing OK. Have nearly 100K saved/invested assets, car is fully paid off and only has 38K miles (2002 WRX). Was looking at buying a house about 1.5 years ago or so when I could fork the 20% down straight up, but roomate/best friend wasn't too keen with the idea and the situation with the GF was getting serious (and she doesn't like living here all that much, and I'm holding out hope she'll want to go back to Belgium anyway). Zero debt.

We're looking to resolve the house situation in the next 2 years or so-it's the only blight with my financial planning (though I can say this-I pay 420/month for room and utilities in a new house that my roomate owns-the amount 420 would pay in the principal part of PITI for a place wouldn't be that much-but hell I miss the mortgage deduction at tax time, even with my well-planned retirement savings tax shenanigans).

 

[Groder Mullet]

I will say though....one thing that sucks about having money is that you usually end up living around nothing but republicans. We are the only democrats we know around here. It would be nice to have someone else around here that shared our philosophy. Its very frustrating living around people who still vehemently believe that Sadam had WMDs and shit like that. Its like living in the twilight zone. And they all have those annoying "W"s on their cars. It makes me ill. It really does.

I suggest you come to the realization that not everyone shares your opinions. I see plenty of Kerry bumper stickers/anti-GOP stickers where I live and it certainly doesn't "make me ill."

 

[Fragamemnon]

I will say though....one thing that sucks about having money is that you usually end up living around nothing but republicans. ..And they all have those annoying "W"s on their cars. It makes me ill. It really does.

A decent reprisal. Though you may want to watch out for offspring who have been raised educated on the infallibility of Dear Leader-they may come to damage your property if they detect dissent.

 

[fart]

I suggest you come to the realization that not everyone shares your opinions. I see plenty of Kerry bumper stickers/anti-GOP stickers where I live and it certainly doesn't "make me ill."

clearly doesn't make you conscientious either

 

[Groder Mullet]

clearly doesn't make you conscientious either

That I respect others differing opinions?

 

[fart]

if you say so

 

[LM4sure]

I'm not rich but I do have it pretty good.

I will say though....one thing that sucks about having money is that you usually end up living around nothing but republicans. .

That's just another perk of having lots of cash. I had a trust fund set up for me before I was born, and I was smart enough to invest most of what I get out of that. Now I have an extraordinarily good job and no debt. It's nice having teh monies! I got more than what most people twice my age have. I earned some of it on my own too. heh heh

 

[enjoy bell woods]

That's just another perk of having lots of cash. I had a trust fund set up for me before I was born, and I was smart enough to invest most of what I get out of that. Now I have an extraordinarily good job and no debt. It's nice having teh monies! I got more than what most people twice my age have. I earned some of it on my own too. heh heh

What's your job? I want to be rich.

 

[goodcow]

Is it literally in a bank savings account? Because it shouldn't be. You could put that into something near risk free like Vanguard's wellington mutal fund and make 10% of what you've invested every year. So next year you'd have 27500, and so on. You'll end up tripling your investment every decade. So in 40 years it'll be 81 times it's value (over $2 million). That's assuming no further investing.

I'm sure you know all of this, but saying you've put it in a bank makes me want to bang my head against my desk. With your lifestyle, you could become a mult-millionare in 15 years.

Elaborate.

 

[LM4sure]

What's your job? I want to be rich.

HAHA...the job isn't getting me rich. It's what I had before I even started. I'm a financial analyst for an investment company. It does pay really well though, and I was lucky to get this job right out of college.

 

[.hacked]

I keep 100k in a checking account for spending monies

 

[Lambtron]

I keep 100k in a checking account for spending monies

FUCK! My checking accout is rarely over $xx.xx

Buy me a DS.

 

[enjoy bell woods]

You should hear HOW morphix became rich. It's not the most impressive story. In fact, it makes him even more loathsome.

 

[goodcow]

I keep 100k in a checking account for spending monies

...

 

[.hacked]

I got it from my sick mommy

 

[LM4sure]

lawsuit?

 

[.hacked]

armani suit.

 

[B'z-chan]

Morphix got a shit load of money. His mom's illness won him some money. He's a rich dude, just spending what he does on imports and stuff is overwhelming.

Myself on the other is living off 25 cent pieces. My grandparents on the other hand are fucking rich. At least since they sold a house that is. They've got a stock pile of monies in mutual funds worth about 8 million dollars.

I wish i had that money but i cant touch it till i go through grad school and all that good stuff. I'm taking my time though due to other things.

Even basic stuff is getting hard to get nowadays.

 

[FiRez]

Hey Morphix if reirom re-send you the GBA, I can take care of it in Honduras
and I will put you in the credits of my first project


Edit: nvm, I remember that you hate the homebrew scene, but I will still do it

 

[Vieo]

I'm not rich, but I know how to squeeze the hell out of a penny. I also know how to 'beat the system'. You would know this if you saw my fire hydrant thread. If you want to save money, follow my tips.


1. Try to get the closest apartment you can next to your place of work. At the end of every week, look for a place closer to where you work. Eventually, you'll get so close you can walk/bike instead of drive. (no more spending money on gas, OH SNAP!)

2. Don't bother furnishing your apartment. I mean, what's the point? You spend more time at work/out than being home and when you are home, you spend the majority of that time sleeping. The only furniture you should have is: two chairs(foldup), one table, a bed and possibly a loveseat or two beanbags.

3. Don't bother with paying for gas. You don't need a stove. Get a hotplate. If you have a pot, you can boil water on it just as well.

4. Eat cheap and eat the same thing every day. The only thing on your refrigerator should be: cans of tuna, loaf of bread, coup of noodles, a boneless chicken breast, some cheese, and bottles of seltzer water(no soda, too expensive).


Yep, you follow that plan and the money will come rolling in.

 

[Boogie]

That's just another perk of having lots of cash. I had a trust fund set up for me before I was born, and I was smart enough to invest most of what I get out of that. Now I have an extraordinarily good job and no debt. It's nice having teh monies! I got more than what most people twice my age have. I earned some of it on my own too. heh heh

HAHA...the job isn't getting me rich. It's what I had before I even started. I'm a financial analyst for an investment company. It does pay really well though, and I was lucky to get this job right out of college.

*Pencils LM4sure in on the hate list*

Bastard.

 

[Justin Bailey]

I'm poor, smart, and hungry - the perfect salesman.

But seriously, I can't complain. I know I'll be successful one day because I work hard and push myself. That's all that actually matters in our society right?

 

[Lathentar]

I'm not rich, but I know how to squeeze the hell out of a penny. I also know how to 'beat the system'. You would know this if you saw my fire hydrant thread. If you want to save money, follow my tips.


1. Try to get the closest apartment you can next to your place of work. At the end of every week, look for a place closer to where you work. Eventually, you'll get so close you can walk/bike instead of drive. (no more spending money on gas, OH SNAP!)

2. Don't bother furnishing your apartment. I mean, what's the point? You spend more time at work/out than being home and when you are home, you spend the majority of that time sleeping. The only furniture you should have is: two chairs(foldup), one table, a bed and possibly a loveseat or two beanbags.

3. Don't bother with paying for gas. You don't need a stove. Get a hotplate. If you have a pot, you can boil water on it just as well.

4. Eat cheap and eat the same thing every day. The only thing on your refrigerator should be: cans of tuna, loaf of bread, coup of noodles, a boneless chicken breast, some cheese, and bottles of seltzer water(no soda, too expensive).


Yep, you follow that plan and the money will come rolling in.

Does fun ever factor into that equation?

 

[Vieo]

Does fun ever factor into that equation?

Yeah. That's what the original post was about. 50" plasma screens, tons of games, etc. is what the extra money you'll save is for.

 

[Zaptruder]

I'm poor, smart, and hungry - the perfect salesman.

But seriously, I can't complain. I know I'll be successful one day because I work hard and push myself. That's all that actually matters in our society right?

Hmmm... you'll have to work smart and hard in this society.

Raw work is good... but taking time out to assess how to go up and then working hard to do so will get you alot further.

 

[Raven.]

I personally don't buy most of the gaming stuff, I prefer to let others buy it first, and either borrow for extended periods of time, or use my skills to trick them into giving it to me for a favor or some ridiculously low sum. Also, it's not like I game much, keeping up with the info of several fields, and absorbing vast technical information keeps me busy(plus I rest from time to time in various boards like this one.). I'm also very very cheap on most other stuff, so I can basically build my retirement fund(actually it's really to buy the necessary high cost bleeding-edge tools I'll need in a few decades, u can use the gov. facilities for most stuff, but certain things are better kept hidden... ).

 

[Zaptruder]

Yeah. That's what the original post was about. 50" plasma screens, tons of games, etc. is what the extra money you'll save is for.

What's a hotplate and how do you use it without the stove?

And how do you not get locked into contracts that allows you to keep moving from apartment to apartment?

 

[beaglebot]

morphix = .hacked ?

So the only rich guy here made his money from a lawsuit? Let that be a lesson to you all.

 

[Chrono]

I personally don't buy most of the gaming stuff, I prefer to let others buy it first, and either borrow for extended periods of time, or use my skills to trick them into giving it to me for a favor or some ridiculously low sum. Also, it's not like I game much, keeping up with the info of several fields, and absorbing vast technical information keeps me busy(plus I rest from time to time in various boards like this one.). I'm also very very cheap on most other stuff, so I can basically build my retirement fund(actually it's really to buy the necessary high cost bleeding-edge tools I'll need in a few decades, u can use the gov. facilities for most stuff, but certain things are better kept hidden... ).

Some how I knew this post wasn't going to be normal. :lol

 

[teh_pwn]

Elaborate.

On what? Becoming a multi-millionaire with his lifestyle in 15 years? Well he says he puts away 2500 per month.

I made a little C++ program with 10% returns. Turns out it would take 21 years:

YEAR = 0 MONIES = 33000
YEAR = 1 MONIES = 69300
YEAR = 2 MONIES = 109230
YEAR = 3 MONIES = 153153
YEAR = 4 MONIES = 201468
YEAR = 5 MONIES = 254614
YEAR = 6 MONIES = 313075
YEAR = 7 MONIES = 377382
YEAR = 8 MONIES = 448120
YEAR = 9 MONIES = 525932
YEAR = 10 MONIES = 611525
YEAR = 11 MONIES = 705677
YEAR = 12 MONIES = 809244
YEAR = 13 MONIES = 923168
YEAR = 14 MONIES = 1048484
YEAR = 15 MONIES = 1186332
YEAR = 16 MONIES = 1337965
YEAR = 17 MONIES = 1504761
YEAR = 18 MONIES = 1688237
YEAR = 19 MONIES = 1890060
YEAR = 20 MONIES = 2112066

I originally designed the program for a roth IRA, so I'm ignoring taxes. So probably more like near 25 years.

 

[teh_pwn]

I keep 100k in a checking account for spending monies

You're throwing away 10k this year. Then 11k the next, and so on.

let's run the program again:

YEAR = 0 MONIES = 110000
YEAR = 1 MONIES = 121000
YEAR = 2 MONIES = 133100
YEAR = 3 MONIES = 146410
YEAR = 4 MONIES = 161051
YEAR = 5 MONIES = 177156
YEAR = 6 MONIES = 194871
YEAR = 7 MONIES = 214358
YEAR = 8 MONIES = 235793
YEAR = 9 MONIES = 259372
YEAR = 10 MONIES = 285309
YEAR = 11 MONIES = 313839
YEAR = 12 MONIES = 345222
YEAR = 13 MONIES = 379744
YEAR = 14 MONIES = 417718
YEAR = 15 MONIES = 459489
YEAR = 16 MONIES = 505437
YEAR = 17 MONIES = 555980
YEAR = 18 MONIES = 611578
YEAR = 19 MONIES = 672735
YEAR = 20 MONIES = 740008

You're thowing away so much money.

 

[Vieo]

What's a hotplate and how do you use it without the stove?

And how do you not get locked into contracts that allows you to keep moving from apartment to apartment?

A hotplate is like a George Forman grill, except it has no top and it's flat. It's powered by electricity.

How do you not get locked into contracts? Negotiate.

 

[goodcow]

On what? Becoming a multi-millionaire with his lifestyle in 15 years? Well he says he puts away 2500 per month.

I made a little C++ program with 10% returns. Turns out it would take 21 years:

YEAR = 0 MONIES = 33000
YEAR = 1 MONIES = 69300
YEAR = 2 MONIES = 109230
YEAR = 3 MONIES = 153153
YEAR = 4 MONIES = 201468
YEAR = 5 MONIES = 254614
YEAR = 6 MONIES = 313075
YEAR = 7 MONIES = 377382
YEAR = 8 MONIES = 448120
YEAR = 9 MONIES = 525932
YEAR = 10 MONIES = 611525
YEAR = 11 MONIES = 705677
YEAR = 12 MONIES = 809244
YEAR = 13 MONIES = 923168
YEAR = 14 MONIES = 1048484
YEAR = 15 MONIES = 1186332
YEAR = 16 MONIES = 1337965
YEAR = 17 MONIES = 1504761
YEAR = 18 MONIES = 1688237
YEAR = 19 MONIES = 1890060
YEAR = 20 MONIES = 2112066

I originally designed the program for a roth IRA, so I'm ignoring taxes. So probably more like near 25 years.

I meant elaborate in terms of where to find more information/sign up.

 

[Zaptruder]

On what? Becoming a multi-millionaire with his lifestyle in 15 years? Well he says he puts away 2500 per month.

I made a little C++ program with 10% returns. Turns out it would take 21 years:

YEAR = 0 MONIES = 33000
YEAR = 1 MONIES = 69300
YEAR = 2 MONIES = 109230
YEAR = 3 MONIES = 153153
YEAR = 4 MONIES = 201468
YEAR = 5 MONIES = 254614
YEAR = 6 MONIES = 313075
YEAR = 7 MONIES = 377382
YEAR = 8 MONIES = 448120
YEAR = 9 MONIES = 525932
YEAR = 10 MONIES = 611525
YEAR = 11 MONIES = 705677
YEAR = 12 MONIES = 809244
YEAR = 13 MONIES = 923168
YEAR = 14 MONIES = 1048484
YEAR = 15 MONIES = 1186332
YEAR = 16 MONIES = 1337965
YEAR = 17 MONIES = 1504761
YEAR = 18 MONIES = 1688237
YEAR = 19 MONIES = 1890060
YEAR = 20 MONIES = 2112066

I originally designed the program for a roth IRA, so I'm ignoring taxes. So probably more like near 25 years.

Is that calculating interest per month or per annum?

 

[teh_pwn]

Look into some good mutual funds. I'm still in college, so I'm not that experienced with it.

I'm going to start a Roth IRA very soon with Vanguard and I'm going to start with their wellington fund. Wellington's been around for several decades and has a very stable 10%. During that tech bubble burst, they dipped down a tad and went right back up because of their bonds.

Is that calculating interest per month or per annum?

annum. And again I'm neglecting taxes.

I may be a total n00b to this, but I do know that 100k sitting in a savings account = bad.

Like he could do 401k and get company matching and make more money that way. And I think certain investments reduce your taxes. So he could even do it faster.

 

[Lathentar]

Has anyone looked into INGDirect's Mutual Funds?

I'm thinking of opening one up with the money I made interning at Microsoft.

 

[TheOMan]

Look into some good mutual funds. I'm still in college, so I'm not that experienced with it.

I'm going to start a Roth IRA very soon with Vanguard and I'm going to start with their wellington fund. Wellington's been around for several decades and has a very stable 10%. During that tech bubble burst, they dipped down a tad and went right back up because of their bonds.




annum. And again I'm neglecting taxes.

I may be a total n00b to this, but I do know that 100k sitting in a savings account = bad.

Like he could do 401k and get company matching and make more money that way. And I think certain investments reduce your taxes. So he could even do it faster.

So, I'm not rich, but I don't spend a lot, have a decent job and have around 150k saved up in various investments and accounts. Right now I have approx 30k in my chequing account that I trying to figure out how to parlay into some serious cash. My investments do alright, but I'm looking to turn this money into something more a little quicker (I'm tired of working). I'm considering starting my own business with some of this money as I have an idea that I'm pretty sure will do well, considering buying up some oil as I'm sure it'll do nothing but go up (lol), and I'm also considering blowing it all on lottery tickets (well not really).

What is this Vanguard thing? Sounds interesting. Does it really return 10% a year? If so, I'd consider moving some of my investments over to that. Anybody have suggestions as to what I should do with the money in my chequing account? I know it's bad to have it sitting there, but I really am unsure of what to do with it.

It really seems that things are set up a little better in the States to become well off and stay that way. However, I certainly don't have any complaints, I live comfortably and believe in living beneath my means.

 

[Deleted member 4784]

Don't waste your breath. I've already tried talking Morphix into investing his interest, but he seems to think that there is no time value of money and that the value of a dollar will never change. Shame that such a nice guy could be so careless in regards to his investments.

 

[Deleted member 1235]

I would have considered myself moderately well off when I was living in NZ for my age and social circle, then I sold everything took all my savings and moved to Amsterdam, currently with all of my savings (around 15k) after selling everything, put that through the currency exchange and bam, my net worth, with no job is roughly 7000 Euros. I think that qualifies me as nervous and poor.

 

[pollo]

You're throwing away 10k this year. Then 11k the next, and so on.

let's run the program again:

YEAR = 0 MONIES = 110000
YEAR = 1 MONIES = 121000
YEAR = 2 MONIES = 133100
YEAR = 3 MONIES = 146410
YEAR = 4 MONIES = 161051
YEAR = 5 MONIES = 177156
YEAR = 6 MONIES = 194871
YEAR = 7 MONIES = 214358
YEAR = 8 MONIES = 235793
YEAR = 9 MONIES = 259372
YEAR = 10 MONIES = 285309
YEAR = 11 MONIES = 313839
YEAR = 12 MONIES = 345222
YEAR = 13 MONIES = 379744
YEAR = 14 MONIES = 417718
YEAR = 15 MONIES = 459489
YEAR = 16 MONIES = 505437
YEAR = 17 MONIES = 555980
YEAR = 18 MONIES = 611578
YEAR = 19 MONIES = 672735
YEAR = 20 MONIES = 740008

You're thowing away so much money.

It's likely that m0rphix has so much money that investing 100k is marginal =/. Dude prolly gets more utility having it liquid than saved up.

 

[.hacked]

Don't waste your breath. I've already tried talking Morphix into investing his interest, but he seems to think that there is no time value of money and that the value of a dollar will never change. Shame that such a nice guy could be so careless in regards to his investments.

And I told you I have multi millions invested already, just not in real estate like you suggested.

I only kept liquid around 250K, I used that to buy new cars, pay off debts, and buy everything else I wanted cash. Yes my investment are low returning but the are 100% no risk.

I don't want to wake up one morning, see the stock market has crashed and have to go get a job. I am in this shit for the long haul. I don't want to ever have to work again. I just want to sit back and watch them money roll in every month.

 

[Deleted member 1235]

And I told you I have multi millions invested already, just not in real estate like you suggested.

I only kept liquid around 250K, I used that to buy new cars, pay off debts, and buy everything else I wanted cash. Yes my investment are low returning but the are 100% no risk.

I don't want to wake up one morning, see the stock market has crashed and have to go get a job. I am in this shit for the long haul. I don't want to ever have to work again. I just want to sit back and watch them money roll in every month.

sigh. you have the exact situation that I want to be in sure thats not uncommon, but I have just discovered after 5 years of work, that now that I don't have a job, I'm very happy....

 

[truffleshuffle83]

well im not rich, but my parents make good money. i got a free ride to college and they pay for my car and apartment. right now im doing a little investing into a mutual fund, about 400 a month. the rest of my money goes to whatever i want to blow it on. in the last year i bought my girlfriend a 5k ring. i just got a new 50" lcd sony. i furnished my apartment. i bought a new high end sony computer and toshiba laptop. ask me in a few years though because she just graduated with an industrial engineer degree and next year ill be graduating with a EE degree so things should be smooth sailing after that

 

[.hacked]

sigh. you have the exact situation that I want to be in sure thats not uncommon, but I have just discovered after 5 years of work, that now that I don't have a job, I'm very happy....

Not working is great, if you can swing the financial side I suggest it for everyone.