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Originally posted by peck420
reply to post by Chai_An
But I thought the rich guys didn't take any risks to open up their loopholes.
Whoops.
Looks like you argued yourself out. Nice.
Stocks stabalise over the longterm, most people expect to get their return over the shorterm. Not going to happen unless you are psychic. Or lucky.
When you buy stocks for dividend you don't want a stock that varies much at all. you want a nice reliable stock (slow consistent growth), with a nice reliable payout. It may take longer to achieve good ROI's, but it provides a great deal more security.
Originally posted by kykweer
reply to post by buddhasystem
That is if you think investing will make you rich over night. Even Warren Buffet once lost $360million
Originally posted by peck420
reply to post by Chai_An
It is if you can't make the payments.
If you have no money left after paying your bills, including food, you have made some very poor choices.
These are rethoricals for everybody
You have a mortgage. Is it within your means? Did you allow for market and interest rate flucuations? Did you allow for correct utility usage? Did you allow for utility flucuations (if you live deregulated)?
You have 5 children. Children cost money. Search child care costs in you area. It will give you a guideline to how much money you will require per child per year. Did you account for healthcare costs? Insurance?
Did you account for a family slush account (for the unexpected)? Did you account for a reasonable retirement / investment schedule?
This is by no means a definitive list, infact, it is a short list off the top of my head, and will maybe account for half of your expenses.
If you haven't accounted for the cost of your life, then yes you have squandered your money.
I see people everyday struggling to make mortgage payments on houses they should have never bought, raising far more children than their income allows. And this is supposed to be my fault?
I did my homework and research. I planned my life inside my means, and I am starting to reap the rewards. Now you want me to make less, so that those that didn't plan, can have their butts covered?
Originally posted by kykweer
Originally posted by Chai_An
Buy stocks, buy stocks. How often do stocks lose their value? Stock in a company can be $20 today and a $1 tomorrow, you can't count on the stock market.
I guess thats why all successful investors have a portfolio and invest in numerous companies.
Originally posted by peck420
If you haven't accounted for the cost of your life, then yes you have squandered your money.
Originally posted by peck420
So it is the rich man's fault for him being rich and you being poor?
Originally posted by peck420
You have a mortgage, utilities, and food taking up so much of your income that you have nothing left?
Originally posted by peck420
You have essential stated that you have squandered your earnings, and are therefore, intitled to some of his.
Originally posted by peck420
That is what raising his taxes to subsidise (lower) yours is in effect doing.
Originally posted by buddhasystem
Originally posted by kykweer
reply to post by buddhasystem
That is if you think investing will make you rich over night. Even Warren Buffet once lost $360million
I know that. My point was exactly that investment is not in itself a panacea.
Originally posted by FREEwoman
It really makes me sick to my stomach reading through this thread.
The most logical and intelligent posts are the ones with zero to three stars.
Originally posted by buddhasystem
Originally posted by kykweer
reply to post by buddhasystem
That is if you think investing will make you rich over night. Even Warren Buffet once lost $360million
I know that. My point was exactly that investment is not in itself a panacea.
Originally posted by Chai_An
Originally posted by kykweer
Originally posted by Chai_An
Buy stocks, buy stocks. How often do stocks lose their value? Stock in a company can be $20 today and a $1 tomorrow, you can't count on the stock market.
I guess thats why all successful investors have a portfolio and invest in numerous companies.
I'm sure there are exceptions to the rule but they are seldom poor and middle class people initially.
Originally posted by FREEwoman
A part of taking responsibility is to not be in denial about the world you live in. Your first point "It truly is all there for the taking- no, ", was right and those who are taking are my point. My posts were concerning those whose greed make up their existence, they want it all. Yes there are wealthy men and women who are not greedy and did build their businesses with integrity and honor they are not my subject matter. These are not the folks who received bailouts, i.e the shifting of their bad businesses practices (debts) onto the general public. So please understand I'm talking about a certain segment of the population not all wealthy folks.
So then, why the utter resentment and jealousy over 'the rich'?? According to reality, the majority of 'rich' people are not corrupt! Are not bankers! Are not dirty politicians! Most 'rich' people are everyday, hardworking people that are intelligent enough to pursue their dreams and to responsibly manage money! They are the small business owners, the inventors, the entrepreneurs, etc- you know, those horrible people who give YOU jobs!
Again I myself spoke only about a certain segment of the population not all wealthy folks. I don't see it as resentment and jealousy to point out greedy behavior and yes I know those who suffer from this type of behavior have enablers within politics. Again, small business people are not the folks I posted about, these are not those folks who received huge bonuses this year due to being bailed out by the government. Now you say rich people give jobs, lets be clear no one's giving you anything you have something they want which is labor (expertise, experience, etc) which you exchange for money so both parties needs are being met. For the record small business people tend to not be the super wealthy.
WITH THEIR PROSPERITY, WE ALL PROSPER.
Would you all rather have the opposite of that? Where no one is free to be and do whatever they want and/or the rich must 'share' their money with the 'poor' just because? Any fool would be able to predict what would happen in a situation like that (ahem, socialism) - the rich would have no incentive to continue providing for everybody else. What is the point when the fruits of your labor are robbed? A nation like that would eat itself from the inside out. Just because rich people don't want to be robbed, it does not mean they are 'stealing' from anybody. Seriously, there is some logic on this thread that just makes me want to bang my head against the wall.
Not necessary true. Again the folks I've been critical of are those who received money they didn't earn so how could anyone say their prosperity makes it possible for all to prosper? That's rather illogical, these people are enriching their and a select few bottom lines. Rich people don't want to be robbed, no one wants to be robbed including the pauper. The rich people for whom I criticize have no quorums stealing from others. Don't bang your head against the wall just know all wealthy people are not honorable good people.edit on 10-11-2010 by Chai_An because: (no reason given)
Originally posted by kykweer
Look in the end there is no easy way to get rich, some people do this for a living and can research companies in depth etc and we all don't have the time or patience, buying stock won't make you rich overnight, in the end it's a long term investment, but it is not for all of us,
Originally posted by Phenomium
Originally posted by SaturnFX
Originally posted by TheBandit795
The rich use their money to create more money; they have that money work hard for them. They take calculated risks to ensure that they are practically guaranteed a ROI. They diversify their income.... They know that this is real safety and true income.
This is true...this is actually a fatal flaw in capitalism...the rich will become richer, they will do things to ensure the continued fueling of their finances, from purchasing politicians to favor their business practices, creating hedge funds, binding stock markets for controlled inflation and deflation of prices based on manipulation, and over a few generations of inheritance and status quo, the wealthy will become superrich, creating a vast divide.
the counter to this...well...there is no counter to this...the eventual progression will be a ever increasing wealth focus until the only possible outcome will be revolution or a complete failure of the economy, lock, stock, and barrel....
however, it was a fun right...say no to all socialism will equal saying yes to total financial meltdown...be it now, or in 50 years...the result is inevitable, period.
Well, that was a clever way to try to scare us all into accepting Socialism. The whole "sky is falling" technique. Nice, I bet a lot of suckers will fall for that. We are going to have economic collapse no matter what.