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joyfulguy

How to become a millionaire (dare I say, 'the easy way')?

joyfulguy
12 years ago

Ask ole joyful ... who wears his briefs for years ... and (without stretching things too much) when the waist gets stretched too much he extends their life by adding an elastic belt.

Start early ... every day that you wait after the day you were born adds a bit more steepness to the uphill climb.

On the day that you start work: you have brains and hands at work ... and no money.

Invest some, even a small amount, regular-like.

If you get a windfall, e.g. a buyout when your auto plant closes, as one did last week, a dozen miles away (Ford Crown Vic, Marquis, a Lincoln), don't look upon it as income to spend soon, but as capital to invest to produce ongoing income.

Don't buy lottery tickets: poor investment (maybe a bit better chance of getting hit than being struck by lightning). Government operated lotteries/casinos, apparently quite addictive on their part, are claimed by many to be a voluntary tax on the stupid/gullible (add a more appropriate word if you know one).

Forswear the temptation to reply to too-good-to-be-true emails from some sneaky banker in Nigeria or elsewhere. Or from folks supposedly in (or near) Libya claiming to be related to Gadaffi.

Learn how money works (including the tax system) ... and how to make it work effectively for you.

Invest part of each pay cheque.

On the day that you retire: you have brains and money at work ... and no hands. Right? (Or you can't afford to retire - and having to return to work at 80 to put food on the table, heat the house and buy meds ain't a bowl of cherries, I've heard).

When you hit 50? 60? 70? (actually, quite likely all three) you'll have a choice:

retire, maybe early, and maybe a millionaire, and enjoy life ...

... or, if you're not a millionaire yet, keep working with a view to becoming one.

But - keep an eye on your relatives, friends and neighbours and see how many are losing a major portion of their health, or dying early ...

... and judge your actions accordingly.

Learning how money works: an interesting hobby, with a lifelong time-horizon ...

... that should be fun while you're doing it. (If you don't boss your money - more'n likely it'll boss you).

Remember my thread a while ago, asking folks whether they'd ever been in handcuffs (and some suspicious-minded people on here wondered whether they were about to receive a lesson in certain sexually-related activities)?

And I said that I enjoyed my freedom - but that some people are in financial handcuffs, which usually they put themselves into: it's called, "living paycheque to paycheque".

And if one operates using substantial short-term loans, e.g. major credit card balances, it's like being in leg irons, as well.

ole joyful

P.S. It helps if one can arrange to live past 80 - and this old bird ain't anywhere near being a millionaire yet ...

... but you know them preachers - it's "Do as I say ... not as I do" - right?

This one is thankful to be enjoying good health (on rat poision, after a clot in the lung about a year ago). Doc said a couple of days ago that I'm fit as a fiddle ... but I figure that I need to die in the next couple of years, as he said first that he'll retire in 2013 ... then, within 10 min. or so, 2014 ... so I'm not too sure about that doc, ya know! Why does that mean that I'll need to die? You know how hard it is to find a doc, these days ... and who wants to be without one??

o j

P.P.S. But ... the way many western nations are managing their finances ... and printing money ... pretty soon ...

... a million won't buy much.

(still) o j

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