How do rate yourself in financial management on a scale of 1 to 10? 10 is excellent.
36-40, F
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questionWeaver Best Comment
SimplyLogicalDiscipline · 36-40, F
@questionWeaver any tips?
@SimplyLogicalDiscipline focus on wealth maximization, not cash flow .... use leverage to a degree ... remember the only asset that will always rise faster in value, than any other ... is raw land
Remaining in an urban setting, cannot be offset by anything ... it is financially disaster.
Burbs or nearby rural zones are the place to be in the "work from home generation"
Remaining in an urban setting, cannot be offset by anything ... it is financially disaster.
Burbs or nearby rural zones are the place to be in the "work from home generation"
SimplyLogicalDiscipline · 36-40, F
@questionWeaver Yes real-estate is the best investment,thank you for your kind tips.
NoGamesTolerated · F
@questionWeaver You reminded me of a line from Gone with the Wind.
“...Why, land is the only thing in the world worth workin' for, worth fightin' for, worth dyin' for, because it's the only thing that lasts.” Gerald O’Hara
“...Why, land is the only thing in the world worth workin' for, worth fightin' for, worth dyin' for, because it's the only thing that lasts.” Gerald O’Hara
@NoGamesTolerated yes. .. and the only thing they do not make more of!
NoGamesTolerated · F
@questionWeaver true indeed
Nomad7 · 22-25, M
@questionWeaver By focusing on wealth maximization over cash flow, do you mean people should focus on capital appreciation over interest payments?
And as for the value of raw land, in many developing countries, if you want to be an acquirer of it while staying far away, it's important to construct a settlement, such as a small house or office of some kind, or it will be encroached upon over time
And as for the value of raw land, in many developing countries, if you want to be an acquirer of it while staying far away, it's important to construct a settlement, such as a small house or office of some kind, or it will be encroached upon over time
@Nomad7 excellent point on the home improvement to capture land
@Nomad7 Many focus on their bank account and ignore wealth
Wealth builds wealth ... it is the simplest of accumulation techniques
Do not buy a nice house ... buy a house that will nicely appreciate
Do not look at an old warehouse, as an old warehouse ... view it as an income producing stream ... then maximize it.
Buy land, rent it, develop it and expand on the income production via selling easements, timber, mineral rights, water rights, offsets and increasing its accessnto roadway
800 tons of gravel is cheap ... but it can make you $200,000
Wealth builds wealth ... it is the simplest of accumulation techniques
Do not buy a nice house ... buy a house that will nicely appreciate
Do not look at an old warehouse, as an old warehouse ... view it as an income producing stream ... then maximize it.
Buy land, rent it, develop it and expand on the income production via selling easements, timber, mineral rights, water rights, offsets and increasing its accessnto roadway
800 tons of gravel is cheap ... but it can make you $200,000
Nomad7 · 22-25, M
@questionWeaver That's very true.
Inflation is worse than taxation. In fact, I think people should calculate their real rates of return post inflation...
It's important to buy assets that produce cash flows, which probably excludes bitcoin and many other commodities from a financial purist's portfolio
Inflation is worse than taxation. In fact, I think people should calculate their real rates of return post inflation...
It's important to buy assets that produce cash flows, which probably excludes bitcoin and many other commodities from a financial purist's portfolio
@Nomad7 yep ... no to bitcoin!