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Anonymous #1

I want to be a rich bitch
    #7441256 - 09/22/07 05:39 PM (16 years, 4 months ago)

I am seriously obsessed with becoming obscenely rich, like having a net worth of more than $100 million. The thing is, I really do believe that I will be able collect that much dough. Anybody else share this obsession?


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Anonymous #2

Re: I want to be a rich bitch [Re: Anonymous #1]
    #7441431 - 09/22/07 06:36 PM (16 years, 4 months ago)

Did you watch The Secret?

I'm still working on the

Quote:

Step One - Gather socks
Step Two - ?????????
Step Three - Profit!




question, but I don't think I'll net 100M though. A pity really, few people would put it to such good use as I.


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Anonymous #3

Re: I want to be a rich bitch [Re: Anonymous #1]
    #7441531 - 09/22/07 07:17 PM (16 years, 4 months ago)

Quote:

Anonymous said:
I am seriously obsessed with becoming obscenely rich, like having a net worth of more than $100 million. The thing is, I really do believe that I will be able collect that much dough. Anybody else share this obsession?




Then reality comes along and fuck you in the asshoie.


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Anonymous #4

Re: I want to be a rich bitch [Re: Anonymous #3]
    #7441538 - 09/22/07 07:19 PM (16 years, 4 months ago)

No, not at all. I fully expect to have a million or so in assests by the time I retire though, which will be just barley enough.


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Anonymous #5

Re: I want to be a rich bitch [Re: Anonymous #1]
    #7441608 - 09/22/07 07:36 PM (16 years, 4 months ago)

Set your goal to be as rich as 50 cent. He's a nigger gorilla straight out of Africa but the bitches love his dick. You pathetic piece of shit LOL!


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Anonymous #6

Re: I want to be a rich bitch [Re: Anonymous #5]
    #7441618 - 09/22/07 07:39 PM (16 years, 4 months ago)

I want to be a rich nice person.


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Anonymous #2

Re: I want to be a rich bitch [Re: Anonymous #4]
    #7441658 - 09/22/07 07:55 PM (16 years, 4 months ago)

Quote:

No, not at all. I fully expect to have a million or so in assests by the time I retire though, which will be just barley enough.





No, sorry to disappoint you but when you have several decades to go before retirement then a million dollars probably wouldn't nearly be enough.

Let's say we're talking 2037 here.. you could thank your lucky stars if a million dollars could buy you a shitty ass rundown house in a shitty ass rundown neighborhood in 2037.

If current trends persist having a million dollars in 2037 will be equal in purchasing power to having 100 grand in 2007.

It may well be that the dollar goes flat on its ass and that halfway towards your retirement, all you basically have left is your dick in your hand.

In getting rich schemes you should reckon with the value of your dollar halving every ten years.


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Anonymous #1

Re: I want to be a rich bitch [Re: Anonymous #2]
    #7441795 - 09/22/07 08:52 PM (16 years, 4 months ago)

You don't hoard your cash in pillowcases, you buy pork bellies and shit with it sillies.


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Anonymous #7

Re: I want to be a rich bitch [Re: Anonymous #1]
    #7441959 - 09/22/07 09:53 PM (16 years, 4 months ago)

A million dollars isn't that rich.


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Anonymous #8

Re: I want to be a rich bitch [Re: Anonymous #7]
    #7442270 - 09/22/07 11:40 PM (16 years, 4 months ago)

I do really well and suspect this will continue, barring any unforeseen economic collapse (that whole peak oil thing).
That said, I'm not a particularly driven person, my tastes are only mildly on the expensive side and could easily be satisfied with less money. The quality vs quantity quandary, sure it's cliche, but definitely worth embracing.
I wonder what it is about money that makes people want it so bad. Do you guys want to buy expensive toys or something? Just curious.
Living rich doesn't really require very much money if you play your cards right. After assessing your true desires (i.e. the goals which are really important to achieve for whatever reason), weed out the extraneous crap, you can really make your money work for you.
Never underestimate the power of working on your people skills. Forging good working relationships in your chosen field will only serve you in the end. Whether you are a plumber, in the medical profession, a drug dealer, or an artist... it's all about the connections.


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Anonymous #9

Re: I want to be a rich bitch [Re: Anonymous #8]
    #7442443 - 09/23/07 12:57 AM (16 years, 4 months ago)

im gonna be fucking famous. No Joke. Wait till i mention the shroomery in my Grammy acceptance speach. You guys will shit yourselves.


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Anonymous #4

Re: I want to be a rich bitch [Re: Anonymous #7]
    #7443879 - 09/23/07 11:56 AM (16 years, 4 months ago)

Quote:

Anonymous said:
A million dollars isn't that rich.


Wow, you have really high standards.



I guess simply being in the top 1% isnt enough to be rich  :rolleyes:


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Anonymous #2

Re: I want to be a rich bitch [Re: Anonymous #4]
    #7444011 - 09/23/07 12:49 PM (16 years, 4 months ago)

Quote:

I guess simply being in the top 1% isnt enough to be rich





If you want to be financially independent in a first world country a million dollars is little to live of.

To have anywhere decent returns and live off profit you'll need at least 2.5 million in capital.


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Anonymous #7

Re: I want to be a rich bitch [Re: Anonymous #2]
    #7444193 - 09/23/07 01:52 PM (16 years, 4 months ago)

Having a million dollars locked up in savings and investments isn't much at all.

It's also a lot different than a having a million dollars per year income


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Anonymous #1

Re: I want to be a rich bitch [Re: Anonymous #7]
    #7444225 - 09/23/07 02:07 PM (16 years, 4 months ago)

That's what I want, the $1 million per year thing. Also, alot more than that.


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Anonymous #10

Re: I want to be a rich bitch [Re: Anonymous #7]
    #7444230 - 09/23/07 02:08 PM (16 years, 4 months ago)

see the smart thing to do is use your savings to buy gold. gold never loses it's value.


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Anonymous #8

Re: I want to be a rich bitch [Re: Anonymous #10]
    #7444240 - 09/23/07 02:12 PM (16 years, 4 months ago)

I'm investing in gold.... and aluminum foil.


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Anonymous #4

Re: I want to be a rich bitch [Re: Anonymous #10]
    #7444263 - 09/23/07 02:24 PM (16 years, 4 months ago)

Quote:

Anonymous said:
see the smart thing to do is use your savings to buy gold. gold never loses it's value.


Wrong. Its certainly less likely to lose value than cash, I agree.

Gold is fiat in a way. It needs the support of society to have any real value. Historically, not all cultures valued gold. Most did, some didnt. Real wealth is land, weapons, and food. The food comes from the land, and is protected by the weapons.


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Anonymous #7

Re: I want to be a rich bitch [Re: Anonymous #4]
    #7444272 - 09/23/07 02:26 PM (16 years, 4 months ago)

The value of gold and other precious metals fluctuates the same way other stocks and comodities do. When will people learn this?


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Anonymous #2

Re: I want to be a rich bitch [Re: Anonymous #7]
    #7444279 - 09/23/07 02:29 PM (16 years, 4 months ago)

With a million dollars you can live like a God in India, or you barely get by in the USA.

The most you can dependably make off of a million dollars is 4% annually. Thats 40K. Then the taxman comes and screws you in all sorts of ways and you'd be lucky to escape with $24K of that.

So off the dependable profit of one million dollars, you'd be only able to pay yourself $2.000 a month tops.

Doesn't exactly look like easy street does it?

In much of Europe, because of higher taxes, it would be more like $1.500 a month.


With $2.500.000 on the other hand you'd be looking at $5.000/month in the USA and $3.750/month in Europe. That wouldn't be "rich" as most people consider it, but you'd definitely get by much more gracefully.

By contrast, if you go live on the $2.5M standard in China or India, you would only need about $100.000 in capital for the same standard of living, and that could also be achieved for $40.000 in a country like Kenya.

Finally the budget price: if you want to have enough money to have a survivable income in a country like Kenya, you'd need a capital of about $20.000, the price of a kilo of gold, which puts you on an income comparable to a schoolteacher there. ($50/month) Take on a job there to boost your income and for a mere $20.000 you can get by well in a third-world country somewhere in Africa or Asia.


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Anonymous #2

Re: I want to be a rich bitch [Re: Anonymous #7]
    #7444286 - 09/23/07 02:31 PM (16 years, 4 months ago)

Quote:

The value of gold and other precious metals fluctuates the same way other stocks and comodities do. When will people learn this?





The value of gold corrects for inflation while stocks go down the tube with it. When will people learn this?


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Anonymous #7

Re: I want to be a rich bitch [Re: Anonymous #2]
    #7444300 - 09/23/07 02:37 PM (16 years, 4 months ago)

Somewhere around 1995, gold traded for $400/oz.

In late 1998, it traded for $250/oz.

If you had bought in 1995, and had to sell in 1998, you would have lost money, pure and simple.


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Anonymous #2

Re: I want to be a rich bitch [Re: Anonymous #7]
    #7444331 - 09/23/07 02:47 PM (16 years, 4 months ago)

If you had waited a couple years more you could've sold it for $735.

In those years suppressions of the gold price played a large role.
www.gata.org

You are right, it fluctuates, but we're getting into a bullmarket for commodities, as opposed to the artificial bearmarket Gold has been in since before the turn of the century.

As I see it gold is a risk you take of either losing half or doubling your money. Other investments, paper, will give you the opportunity to lose all your money or double it, with often much less favorable odds.

Gold has always corrected for inflation in the past 6.000 years, don't forget that, and many people say it is now in an inflation corrective phase after artificial price suppression by the central banks, so even though its an investment with investment risks, your odds can be quite good.

A standard historic gold coin weighs about 6 grams. That has ALWAYS been a good sum of money, for millennia. Most kinds of money however are extinct, and with it rendered worthless. Most fiat currencies (like the dollar or euro) rise and fall within a human lifetime.


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Anonymous #2

Re: I want to be a rich bitch [Re: Anonymous #2]
    #7444339 - 09/23/07 02:49 PM (16 years, 4 months ago)

I'd like my million in gold, not dollars, so I can roll around in it like Scrooge McDuck.


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Anonymous #1

Re: I want to be a rich bitch [Re: Anonymous #2]
    #7444362 - 09/23/07 02:59 PM (16 years, 4 months ago)

Ouch, I'd rather roll in soft bills than pointy coins.


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Anonymous #2

Re: I want to be a rich bitch [Re: Anonymous #2]
    #7444375 - 09/23/07 03:05 PM (16 years, 4 months ago)

Quote:

I'd like my million in gold, not dollars, so I can roll around in it like Scrooge McDuck





There's only so much rolling around one can do in 1333 maple leafs :wink:





Scrooge McDuck's vault indeed was filled mostly with gold coins. Ole Scrooge knew they were taking the dollar off the gold standard, and what would happen next.

Had his early 20st century vault been filled with dollars, he would've held 10x less value now (one lifetime!) than in his early days. With gold in his vault now he would've been wealthier today. Thats what the dollar did and what gold did during the lifetime of our (grand)parents.


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Anonymous #7

Re: I want to be a rich bitch [Re: Anonymous #2]
    #7444385 - 09/23/07 03:07 PM (16 years, 4 months ago)

Quote:

Anonymous said:
Other investments, paper, will give you the opportunity to lose all your money or double it, with often much less favorable odds.





Whats the average growth and/or return of the stock market?

I'd assume there is a reason investing in stocks seems much more popular than gold.


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Anonymous #2

Re: I want to be a rich bitch [Re: Anonymous #2]
    #7444390 - 09/23/07 03:08 PM (16 years, 4 months ago)

Quote:

1333 maple leafs




So a million dollars in gold fits into a shoebox? Wow.


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Anonymous #2

Re: I want to be a rich bitch [Re: Anonymous #7]
    #7444466 - 09/23/07 03:30 PM (16 years, 4 months ago)

Quote:

Whats the average growth and/or return of the stock market?

I'd assume there is a reason investing in stocks seems much more popular than gold.





Stocks promise quick profit, gold is a slow mover. With stocks, good info, a sound mind and dedication in watching and researching the markets one has a good chance to rake in a profit in a relatively short time.

Gold is more of a store of value, and in doing it it performs better than any currency on earth.

Currencies go one way, and thats down. No exceptions. Gold (a very convenient commodity) goes one way because of this, and that is up. However.. Gold meanders between being high in price and being low in price. From the mid-1980s to the early 2000s it sucked to have been in gold, which is why most investors find it relatively uninteresting. However after 2001 a new phase has started, one in which gold will rise to correct for inflation, and towards a higher equilibrium.

Heres the catch: Its almost certain that gold will rise higher over the coming decade (even if just briefly) to its new high price region. The question is whether or not we already are past its equilibrium. If we are not, and many think so, gold is one fuck of a deal.

With stocks you rake in many dollars (if you're lucky) but those dollars are getting smaller and smaller.

Estimates vary how high real inflation is in the US. I heard reasonable estimates between 5-10%. If your stocks perform poorer than that annual 5-10%, and many do, then you in fact are LOSING value, even though the number of dollars you get leads you to believe you made a profit.

Go to google fir in-depth websearching and find your own answers about the real inflation. Check the fuck out of my claim that "making less profit than 5-10% is a loss". you will find it to be quite correct. The shocking truth is that many bank accounts and investment plans are a FRAUD because they net you less than that 5-10%, and thus serve to LOSE you money. This is quite serious.

The age of paper is over. Commodities will OWN for the coming one or two decades. Get the fuck out of derivatives. Put 10% in gold and pray you'll never need it.


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Anonymous #2

Re: I want to be a rich bitch [Re: Anonymous #2]
    #7444483 - 09/23/07 03:35 PM (16 years, 4 months ago)

Quote:

Stocks = fast profits
Gold = inflation correction





So, on topic, stocks make you rich and gold keeps you rich :awesome:
That is good to know.


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Anonymous #1

Re: I want to be a rich bitch [Re: Anonymous #2]
    #7444681 - 09/23/07 04:28 PM (16 years, 4 months ago)

There's only one guy that loves gold so much around here...but I won't point him out because this is the Anonymous forum :toothlessgrin:


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Anonymous #2

Re: I want to be a rich bitch [Re: Anonymous #1]
    #7445137 - 09/23/07 06:28 PM (16 years, 4 months ago)

Actually there are several. But yeah, I'm him :smile:


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