How RICH ! Do You Want To Become ?

Interesting thread.

I have never really considered ‘how much’ I want, but have always wanted to have enough to buy big tracts of old growth forest and land under threat that is habitat to endangered species. To me, this would be a truly satisfying way to use my wealth.

I am not totally selfless though. A comfortable house for my family, a reasonable buffer in the bank account, and the freedom to go on holidays and see the world regularly is what I aim for.

How many IPs or how much income will this require? Not sure. Sorry for not giving a quantified answer!! The sky is the limit…

Cheers,

Ali G

I want to have enough money so that I don’t have to have THOSE conversations with hubby when the car unexpectedly needs fixing etc….

Keep smiling
Felicity

The American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellow fin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.
The Mexican replied, only a little while.

The American then asked why didn’t he stay out longer and catch more fish?

The Mexican said he had enough to support his family’s immediate needs.

The American then asked, “but what do you do with the rest of your time?”

The Mexican fisherman said, “I sleep late, fish a little, play with my children, take siesta with my wife, Maria, stroll into the village each evening where I sip wine and play guitar with my amigos, I have a full and busy life.”

The American scoffed, “I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat with the proceeds from the bigger boat you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually NYC where you will run your expanding enterprise.”

The Mexican fisherman asked, “But, how long will this all take?”

To which the American replied, “15-20 years.”

“But what then?”

The American laughed and said that’s the best part.

“When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions.”

“Millions.. Then what?”

The American said, “Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”

Cheers

I smiled at your story Wayne. Thanks for sharing!

Cheers,

Ali G

We are all in here for the same reasons, to ask questions and share opinions. Isnt it great we all come from slightly differing perspectives and backgrounds. Nothing better than a bit of healthy discussion.

Personally I want to just pay off this house and have 20 fully owned houses, the rest can take care of itself.

DD

Don’t sweat the small stuff,and it’s all small stuff!!

I don’t see myself stopping.

I think the more you make the more you can do, the more effect you can have.

Why would you want to limit that?
I do agree though that putting deadlines on yourself to achieve certain things by a certain date works for sure.

Once upon a time I said ‘If I can meet (my musical hero) I can die happy.’ I think I was about 23 at the time. well I didn’t only meet them but had lunch, and met various other even bigger musical heroes to boot. So I made a new goal, ‘If I could play a concert with Neil Finn I could die happy’. He was another long-time musical hero of mine. Well that happened too.
And more! It was amazing! So I kept on making new goals and they got a bit more ambitious each time. Even though they seemed unlikely dreams and I didn’t even necessarily tell anyone, they didn’t seem so unlikely by the time they happened. I think that the same thing will happen with my financial goals. Get to a place you thought was impossible at the time of making the goal, but hey, you got there. So make another goal ten times as big and see what happens…

joy to the world

{{i set my first goal this year, to be trading around $100k, within a few months i reached this target, i set my new trading target of $250k and have reached that and more, my next goal by early march – may, next year, is to be trading $500k plus by then..}}

Sis.
I often find that claims like that made above are generally fanciful.Probably 1 in 1 million traders could achieve that.Particularly the 100K to 250K and more in a few months and in particular if you set that target “this year”.

I only bring this up as Trading can be dangerous to the unwary and very expensive.There is a lot of misguided misleading and very expensive information out there.Same goes for most free stuff.Only 3% become successful traders.

I speak from experience having traded for 10 yrs and have been trading ONE Trading method I use LIVE on the NET for 2.5 yrs.Everyone can watch(Its slow and boring a long term method)or check past performance.Its returned almost 300%(on initial investment)in the 2.5 yrs and

Sis.
Would you call yourself a discretionary trader,
Do you trade Stock,Derivatives or Commodities?
Who do you use as a broker?

If your going to embark on the trading route insist on audited trading accounts from those making claims(Including those with get rich quick trading methods)99.9% of time you wont get them because simply they havent got them!

Humans are the DUMBEST of creatures.
They do the same thing day in day out and expect a DIFFERENT result.

Phil.

Im not questioning SIS motivation(Over 2700 Posts) or desire just his current claims.
Particularly when I see claims of Near enough to nought to $250K+ in a matter of months from trading.

Substantiated Trading accounts would see me posting a full public apology,but somehow I think I wont be doing this.

(He with biggest mouth usually has smallest wallet)

I really do hope that all find their true happiness in their own wealth creation endeavor,SIS included,but feel the closer you get to it the more youll think and act like the Fisherman!!

Phil I have heard those stats like you.

Dont know the exact ones perhaps someone could post them.

Like
95% fail in business in the first 3 yrs.
80% succeed if they last 5 yrs.
Only ??% own more than 1 IP.
Only ??% own more than 5 IPs
Only ??% own More than 10 IPs.
97% fail in trading.

Finally must admit that I find unsubstantiated over the top claims very difficult to pass buy.
Ive seen to many duped.

tech

Humans are the DUMBEST of creatures.
They do the same thing day in day out and expect a DIFFERENT result.

Good work SIS, you look to have definately taken the bull by the horns!

I applaud you big goals. The only way to make it big is to plan big. You obviously plan your work and work your plan.

How Rich do I want to become?
next 5 years – 5 pos IP’s average buy $200000, $100000 trading & med term shares, start & finish brand new reno (cost $317000 + $100000 reno) value will be around $750000.

Longer term net worth $10M by 40.

Another question, how many of you have written these goals down with a time/date. Or smaller shorter term goals to lead you to the bigger one?

[bike2]

Matt