How do you measure your wealth more accurately?
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Not phantasy. For those who aspire to generational wealth, a Billion is the minimum. Obviously, one can "live" very well on much less if not thinking of future generations. I personally am nearly 90 now and have no such aspirations. My descendants will have to make it on their own. I had a few classmates who did make it to multi-billionaire status. They did not live normal or phantasy lives. They are all pushing up daisies now, but I am still Poverty Pete -- bumbling along. And, by the way, I am not a bot. See me live & in color! Just posted a blog about my emergency operation in South Africa and my comeback on youtube. grandpa86-luckytobalive888.
Sorry misprint-https://www.youtube.com/@Lucky2balive888/featured, "Did God Spare Me For A Higher Purpose"
like you rof/%
Your fundamentally negative attitude here is unwelcome, I’m quite sure of that. And it’s absolute nonsense to claim that most people here are bots. In fact, many of us are highly engaged in the idea of personal freedom and, above all, running businesses with the goal of making a real profit.
I just happen to disagree with Peter Taradash this time around, but I know for a fact that he’s genuine, even if I believe his ideas occasionally go a bit over the top.
Your fundamentally negative attitude here is unwelcome, I’m quite sure of that. And it’s absolute nonsense to claim that most people here are bots. In fact, many of us are highly engaged in the idea of personal freedom and, above all, running businesses with the goal of making a real profit.
I just happen to disagree with Peter Taradash this time around, but I know for a fact that he’s genuine, even if I believe his ideas occasionally go a bit over the top.
If you have $800m in a 5% interest rate instrument you are a rich idiot.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
I was about to say that ...
The math dont math for me.
800m at 5% is guaranteed way to not have generational wealth lol
The math dont math for me.
800m at 5% is guaranteed way to not have generational wealth lol
"
I'd certainly agree with that! 5% doesn't even cover real inflation (loss of purchasing power).
My example was only way of measuring generational wealth year to year.
IMO diversification with good chunks
of prime income property is the way to go.
I'd certainly agree with that! 5% doesn't even cover real inflation (loss of purchasing power).
My example was only way of measuring generational wealth year to year.
IMO diversification with good chunks
of prime income property is the way to go.
If you suspect somebody to be a bot, you report them and their account will be suspended. Quite simple.
I don't know what human bots are. Maybe you are referring to idiots?
I don't know what human bots are. Maybe you are referring to idiots?
"only a way" correction of above.
Wow! Only one person saw the math error. This was WRONG. " The interest on 800,000,000 at 5% would be 4,000,000 and the interest on that would be the 200,000 you needed as interest on your interest. I wanted our readers to have to THINK a bit, and you did! Pete"
That was my little trap to see if anyone was paying close attention!
The interest on 800,000,000 at 5% is 40 Million, not 4 million, and 5% on 4 million is the $200,000 per year needed for living expenses. Thus you will have generational wealth at $80 million, you don't need a Billion. You can now breath a sigh of relief because dear readers. Why? You are almost there already! I am just joking of course.
The reality is IMO, with a well managed net worth of only $5 million, you can live well {and even when you die, you will leave enough to live modestly for their lives to 2 kids!}-- With a decent house in LA or SFO California, your net worth is probably $5 Million from the property alone! If you sell it and invest carefully, you can live "like a millionaire" like all my ex clients do, on your rents, interest & dividends-- as a PT in a cheap country like Thailand, Vietnam, Cambodia, Philippines, or many places in Central & South America. PS: I am really surprised that someone thinks I am a bot. AI isn't that good yet. I am retired and near 90, but my brain is still functional (I think!). Judge for yourself: -https://www.youtube.com/@Lucky2balive888/featured, "Did God Spare Me For A Higher Purpose"
Wow! Only one person saw the math error. This was WRONG. " The interest on 800,000,000 at 5% would be 4,000,000 and the interest on that would be the 200,000 you needed as interest on your interest. I wanted our readers to have to THINK a bit, and you did! Pete"
That was my little trap to see if anyone was paying close attention!
The interest on 800,000,000 at 5% is 40 Million, not 4 million, and 5% on 4 million is the $200,000 per year needed for living expenses. Thus you will have generational wealth at $80 million, you don't need a Billion. You can now breath a sigh of relief because dear readers. Why? You are almost there already! I am just joking of course.
The reality is IMO, with a well managed net worth of only $5 million, you can live well {and even when you die, you will leave enough to live modestly for their lives to 2 kids!}-- With a decent house in LA or SFO California, your net worth is probably $5 Million from the property alone! If you sell it and invest carefully, you can live "like a millionaire" like all my ex clients do, on your rents, interest & dividends-- as a PT in a cheap country like Thailand, Vietnam, Cambodia, Philippines, or many places in Central & South America. PS: I am really surprised that someone thinks I am a bot. AI isn't that good yet. I am retired and near 90, but my brain is still functional (I think!). Judge for yourself: -https://www.youtube.com/@Lucky2balive888/featured, "Did God Spare Me For A Higher Purpose"
perhaps I'm the only one here who doesn't follow your reasoning... so have patience Peter...
maybe so but no passive income like this can beat the currency debasement - how could such an approach make sense?
and I'm even deliberately ignoring the counter party risk involved
maybe so but no passive income like this can beat the currency debasement - how could such an approach make sense?
and I'm even deliberately ignoring the counter party risk involved
How passive income like this beats the currency debasement:
Rents (obviously not all!) on well-chosen property deals go up faster & higher; so does interest (+ capital gains) on well-chosen discounted bonds), Dividends on many stocks like Swiss & Filipino have also not only kept pace with currency debasement but have gone up much faster & higher than the inflation rate on dollars, or Euros. But for retirees who don't want exposure to big fluctuations of the BTC kind, a major component should be inflation adjusted net leases on AAA Properties and other ultra-safe stuff.
My biggest problem in balancing my own investments in all the above, has been keeping my purchasing power (where I live & spend) growing or at least constant every year. I believe in doing things that work, not theory!
So dear Mr. "Void" my reasoning –the reasoning that you don't go along with -- is that if someone intelligent, that I know and trust has a strong belief in investing in something new & "funny," I might try a bit of it with my play money. If it works, I’d go for more of the same as I did (successfully) with Bitcoin. I didn't have much money into it, but after selling half and recouping all my original investment, it is still now having gone up exponentially, one of my biggest positions. Because I am playing with the Casino's money, I regard it as play money (meaning I can afford to lose all of it without any pain). My reasoning has worked for me and the few old geezers whose money I managed. By the way, of course I make mistakes, maybe 15% of my investments over the years have turned sour. I hate to tell you how much I lost on gold mining stocks a few years ago when I tried to "catch a falling knife" when they dropped to crazy lows. Then those gold mining stocks dropped another 90%. Pete
Rents (obviously not all!) on well-chosen property deals go up faster & higher; so does interest (+ capital gains) on well-chosen discounted bonds), Dividends on many stocks like Swiss & Filipino have also not only kept pace with currency debasement but have gone up much faster & higher than the inflation rate on dollars, or Euros. But for retirees who don't want exposure to big fluctuations of the BTC kind, a major component should be inflation adjusted net leases on AAA Properties and other ultra-safe stuff.
My biggest problem in balancing my own investments in all the above, has been keeping my purchasing power (where I live & spend) growing or at least constant every year. I believe in doing things that work, not theory!
So dear Mr. "Void" my reasoning –the reasoning that you don't go along with -- is that if someone intelligent, that I know and trust has a strong belief in investing in something new & "funny," I might try a bit of it with my play money. If it works, I’d go for more of the same as I did (successfully) with Bitcoin. I didn't have much money into it, but after selling half and recouping all my original investment, it is still now having gone up exponentially, one of my biggest positions. Because I am playing with the Casino's money, I regard it as play money (meaning I can afford to lose all of it without any pain). My reasoning has worked for me and the few old geezers whose money I managed. By the way, of course I make mistakes, maybe 15% of my investments over the years have turned sour. I hate to tell you how much I lost on gold mining stocks a few years ago when I tried to "catch a falling knife" when they dropped to crazy lows. Then those gold mining stocks dropped another 90%. Pete
What’s the thinking behind it? I’m never going to come close to having $800 million, but why would someone be considered an idiot for only earning 5% returns on that?
If you’re living a normal life with a beautiful house, a nice car, a boat, and the right location, you probably don’t need more than, say, $50 million, and even that’s extremely generous.
So what would you even need more money for, beyond the 5% returns to comfortably cover those kinds of expenses?
If you’re living a normal life with a beautiful house, a nice car, a boat, and the right location, you probably don’t need more than, say, $50 million, and even that’s extremely generous.
So what would you even need more money for, beyond the 5% returns to comfortably cover those kinds of expenses?
If you have earned $800m cash you are smart enough to understand how to properly invest that money. Certainly you will never place it all on a single interest bearing financial instrument.
The mindset, knowledge and dedication required to earn $800m are incompatible with the idea of settling for “enough.”
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
No matter what the geniuses in this thread are saying, I’m perfectly happy living off my savings just the way they are. I work one hour a day, and the rest of the time I can do whatever I want, and I can afford to live a life most people only dream of, something maybe only 10% of the world’s population can pull off.
Money is one thing, but the total freedom to decide over your own time? That’s priceless.
Money is one thing, but the total freedom to decide over your own time? That’s priceless.
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