I've got a full time job and am currently studying to get ACE certified so I can find another job as a personal trainer for the extra income. I also only rent rooms from other people instead of getting my own place so I can save up faster, and instead of paying for a car I just take public transportation. You can find plenty of ways to save up extra money.
I got lucky and got a six figure job, then I gave it up to get LL, once I'm done I doubt I'll get something as good. Ah well.. At least I'll be 5'9 😛..
QuoteGood returns are few and far between, and it is VERY easy to lose large amounts of money right now.
As an example, I had a commodity trade go south on me last month. I lost $70,000 in the course of an afternoon...
My goodness, you've lost a lot of money. Why did you lose that large sum of money? Since this is your area if expertise, could you not have identified the "bad" stocks & bonds?
Do you only invest in US market or internationally? What about "tax heaven" and offshore companies?
What's your opinion on Unit Trust ?
Quote from: KiloKAHN on July 22, 2016, 06:29:36 PMI've got a full time job and am currently studying to get ACE certified so I can find another job as a personal trainer for the extra income. I also only rent rooms from other people instead of getting my own place so I can save up faster, and instead of paying for a car I just take public transportation. You can find plenty of ways to save up extra money.
Living like this is EXACTLY how I got rich. Sure as hell wasn't my education, I don't even have a degree lol.
Quote from: ub40 on July 22, 2016, 07:01:04 PMI got lucky and got a six figure job, then I gave it up to get LL, once I'm done I doubt I'll get something as good. Ah well.. At least I'll be 5'9 😛..
Expensive 2" ub40! Peace of mind is priceless in my opinion though...
Quote from: Sconosciuto on July 22, 2016, 07:14:17 PM
My goodness, you've lost a lot of money. Why did you lose that large sum of money? Since this is your area if expertise, could you not have identified the "bad" stocks & bonds?
Do you only invest in US market or internationally? What about "tax heaven" and offshore companies?
What's your opinion on Unit Trust ?
Haha, that's one of the smaller amounts I've lost very quickly. Stocks and bonds are risky, but commodity trading is a whole other level of risk. Plus, if you can't sell, you have to take delivery of the commodity (which I do). Sometimes sh*t just goes wrong man, make a bad call, market shifts in an unpredictable way, a country leaves the EU, some other country has an attempted coup, whatever...it happens.
I can't get into more detail than that without revealing what I do.
Stocks and bonds, I only invest in US markets, with the exception of some mutual funds that own foreign holdings. I have a small silent stake in a company that builds and owns condos in Belize, but that is my only foreign investment otherwise. (I'm one of 25 owners) Never been to Belize or seen the property I own, but they tell me it's nice, lol.
I've never invested in a Unit Trust or really know much about them, other than they are essentially a mutual fund built around a trust and have greater autonomy for what they invest in.
Tax Haven's? Yeah, right. As an American, even the Swiss are required now to give my government any banking information that they possess about my deposits there. If they don't, the US federal government has the ability to close all of their US banking locations and seize their US assets. It's technically illegal, but this "free" country doesn't care about the law. Tax haven's are the stuff of the "elite" of the world, soooo...not me.
Quote from: KiloKAHN on July 22, 2016, 06:29:36 PMI've got a full time job and am currently studying to get ACE certified so I can find another job as a personal trainer for the extra income. I also only rent rooms from other people instead of getting my own place so I can save up faster, and instead of paying for a car I just take public transportation. You can find plenty of ways to save up extra money.
Quote from: CCMidwest on July 22, 2016, 06:21:57 PMReal world advice here:
Work multiple jobs. If you want LL bad enough, you can work a ton of hours.
A $10 an hour second job in the USA, at 20 hours a week, will get you about $10,000 per year. You've got the surgery money in 2.5 years at that rate.
Have a main job to pay your bills. Deliver newspapers in the morning for another $400 per month.
Work 80+ hours a week, not kidding.
Sleep? Sleep when you're dead.
Lord knows I enjoy talking about money and investing (almost as much as I enjoy talking about women), but are you taking any of the above advice to heart?
From what I gather about your current financial situation, this is by far the best advice you are going to get...
Edit: Happy to help though man, don't get me wrong.
start up a business
identify needs and problems in your field (IT) and make a plan of how you're going to attack the problem and formulate a product. get creative.
Quote from: LifeReloaded on July 23, 2016, 02:06:15 AMstart up a business
identify needs and problems in your field (IT) and make a plan of how you're going to attack the problem and formulate a product. get creative.
Quote from: Sconosciuto on July 22, 2016, 05:18:08 PM
The same applies to starting own business: One needs lots of start-up capital and it takes +- 5 years to break even IF the business survives.
Quote from: CCMidwestLord knows I enjoy talking about money and investing (almost as much as I enjoy talking about women), but are you taking any of the above advice to heart?
From what I gather about your current financial situation, this is by far the best advice you are going to get...
Edit: Happy to help though man, don't get me wrong.
Based on inputs on this thread, I finally came to a decision.
Finish my IT degree + complete other qualifications I mentioned. Then move to a country that is "stable" and has a strong currency, possible options are :
UK- £ 1 = US$1.42
US - California (the country is currently very unstable)
E.U. - € 1 = US$1.09
Kuwait - 1 KWD = US$3.28
Canada - CAD 1 = US$ 0.76
Those are currently some of the strongest currencies worldwide. Now another huge obstacle is those countries' tough immigration laws and labor laws. I will sign up on an expat forum in order to discuss it with other expats in those countries. I'll learn from them what I am supposed to do. I will also look to connect with successful expats and locals. Good contacts are crucial.
If you want very high salary the quickest possible, the best way is actually to be admitted and to find a job in very rich European countries such as Norway and Switzerland. It doesn't have Euro but their currency is the strongest abroad and their salaries the highest in the world. For example, in Switzerland the AVERAGE wage is around 4200 euros without taxes, it's about two times U.K.'s or France's. Don't go to U.K., moreover the life there is creepingly expensive.
Living in norway is expensive as hell.
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