Join Early Retirement Today
Closed Thread
 
Thread Tools Search this Thread Display Modes
Old 01-30-2008, 12:51 AM   #201
Recycles dryer sheets
 
Join Date: Jun 2005
Posts: 282
Texas, she did not say she became a millionaire by working a minimum wage job, she said that was her starting point, and from there she moved on to being an enterpreneur and things improved quickly for her.

[moderator edit]

She is probably too busy defending herself to answer your question re: recent returns. I'd say we can all be pretty sure her recent returns are just as depressing as our own. But the only returns we really care about are in the long run, right?
__________________

__________________
igsoy is offline  
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-30-2008, 12:56 AM   #202
Dryer sheet aficionado
 
Join Date: Jan 2008
Posts: 45
Quote:
Originally Posted by igsoy View Post
Texas, she did not say she became a millionaire by working a minimum wage job, she said that was her starting point, and from there she moved on to being an enterpreneur and things improved quickly for her.

[moderator edit]

She is probably too busy defending herself to answer your question re: recent returns. I'd say we can all be pretty sure her recent returns are just as depressing as our own. But the only returns we really care about are in the long run, right?
Thank you, Igsoy, for sparing me the effort to defend yet another false accusation. I appreciate your help and compassion.
__________________

__________________
MillionaireMommyNextDoor is offline  
Old 01-30-2008, 07:30 AM   #203
Recycles dryer sheets
 
Join Date: Oct 2007
Posts: 463
Quote:
Originally Posted by Texas Proud View Post
And to be at $1.6 mill net worth (if it is true) just does not add up starting from nothing and investing on a minimum wage (how much can you put away per year on that salary)... and then what kind of return do you need to get that high Just does not make logical sense it can be done in 10 years...
Texas Proud,

From info posted on her blog (and I'm making some guesses here, but this should be at least in the ballpark):

They were grossing $250k / yr and netting $125k / yr from the plumbing business.

He currently works 2-3 days / week, makes $40k - $60k / year, and they currently live off of that.

Starting at 30 and ending at 39, that's a 10 year run. If they LBTM at $50k / yr and saved $75k / yr for ten years, it only takes a 5.2% return to accumulate $1,000k. Not much of a hurdle.

Even at $60k / yr, the return for $1,000k is 9.2%. Not extraordinary.

Going from 1.0 to 1.6 million in four years is a return of 12.5%.

Now, netting $125k / yr and LBYMing at $50k / yr IS extraordinary, and hats off to MMND for doing that!
__________________
TickTock Rule Of Finance - heavily discount any promises of money/benefits to be paid to you in the future

"I've traded love for pennies, sold my soul for less" -Jim Croce, Age
TickTock is offline  
Old 01-30-2008, 07:57 AM   #204
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,836
Quote:
Originally Posted by Texas Proud View Post
I also said I would make a decision on you with your posts on other threads... but so far I have seen ZERO...

And then you pity me post is just stupid... so I will not be as 'nice' as other and say you do not have anything to say to me that I am interested in hearing.... I think you are lying and trying to sell something... and I hate sneaky saleswomen just like sneaky salesmen...
I don't often agree with Texas Proud, though I suspect she/he doesn't realize that since I usually try to just suck it up if I disagree with somebody and try to come back with a positive post of my own opinion, later on.

In this case I couldn't agree more, nasty male chauvinist that I am, and so "in with the in crowd". Of course I don't even know the e-mail address of one single person on the forum (nor do I want to), and I have averaged less than two PMs a month from others (none of which have discussed a third party) but hey, I guess if I don't fawn over her attitude then I must be part of the giant conspiracy.

Flame away.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now  
Old 01-30-2008, 08:19 AM   #205
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,433
I will move on to another thread. I don't see the entertainment value in it all. But for the ones that do, have at it. Maybe y'all can get the post count up to 1,000 before it's all said and done.
__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 is offline  
Old 01-30-2008, 08:26 AM   #206
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,836
Quote:
Originally Posted by Dawg52 View Post
I will move on to another thread. I don't see the entertainment value in it all. But for the ones that do, have at it. Maybe y'all can get the post count up to 1,000 before it's all said and done.
Well, you've got a point. All I did was just provide fodder for her PLOM posts and attempts to trigger protective reactions from a few of the male posters on the board, who will then post about how gee, we are being such meanies and so on. Yeah, right? Many of us wouldn't even set a mousetrap in our kitchens much less pick on someone without considerable intentional provocation.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now  
Old 01-30-2008, 08:36 AM   #207
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Another one for the ignore list, I guess.

BTW, the secret to keeping snickerdoodles and other cookies moist is to put a piece of bread into the container you store them in. The cookies scavenge the bread's moisture and stay sof for quite a while.
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline  
Old 01-30-2008, 09:05 AM   #208
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,408
Quote:
Originally Posted by brewer12345 View Post
Another one for the ignore list, I guess.

BTW, the secret to keeping snickerdoodles and other cookies moist is to put a piece of bread into the container you store them in. The cookies scavenge the bread's moisture and stay sof for quite a while.
This info I can put to use in my ER right now! Thanks Brew.

BTW - still holding STON and EGLE and spending the dividends. Theoretically pure Target Retirement for real money - but a little sin for lagniappe? - it's the hormones don't you know.

heh heh heh - Only watching ORI - catching falling knives has more interest as a mo strategy for me as a Boglehead believer in RTM. To each their own I guess.
__________________
unclemick is offline  
Old 01-30-2008, 09:07 AM   #209
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
OK, a number of people had nice summary posts, like SteveR and Igsoy. Igsoy suggested it was time for everyone to call a true and it is time. People now are just repeating themselves or each other. Time to quit and start over.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline  
Old 01-30-2008, 09:09 AM   #210
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Sep 2005
Location: Northern IL
Posts: 18,263
OK, MMND, I'm holding out the olive branch - accept?

In the spirit of 'accentuate the positive', here's my input, based on a few of your posts:

1) You are happy and excited with your current lifestyle - that's great! You'll find that people here share in their successes and commiserate in failures. We are happy that you are happy.

2) It sounds like your family is able to meet current expenses while only working a couple days a week. That's quite an accomplishment at your ages. Sounds like it was done by some LBYM and hard work - that will garner a good deal of respect around here, it is pretty much the norm for FIRE.

3) You have also acquired substantial net worth, and you are evaluating various investing and spending methods. Tons of discussion on this forum on those subjects - join in!

OK so far?

Now, a couple items in your early posts might lead to a bit of confusion in this forum. Nothing 'right' or 'wrong' about them, but they will lead to questions. If you are interested in pursuing those, I do think it would be best to start a new thread to escape any negativism in this one. Those items that need some 'explaining' to this group are:

1) You describe yourself as enjoying 'financial freedom', yet the business *is* providing your family's current living expenses. Now, I think I understand that you are saying you *could* do w/o that business income, and live off your investments, but that might get lost in there, and it leads to:

2) Could you live off your investments? This is where we can all share and learn if you so choose. Some helpful questions you will get if you decide to participate will likely be:

EXPENSE SIDE: Do you have a good handle on future expenses? Future college expenses? What will you be doing about medical coverage? What about inflation? Cars, other expenses?

INCOME SIDE: Do you have sufficient net worth to provide an income stream in up and down markets? You might want to make some FireCalc runs with just generic data, just to see how market volatility and inflation can erode a portfolio over time.

TIME: Your portfolio may need to last a very long time. Think about your life expectancy, and what can happen over that time frame. Prepare for the unexpected.

Yes, people here tend to fall back on a buy/hold index strategy for their projections. Expect to be challenged if you think you have a 'silver bullet' to out-perform the market. But, that is not a bad thing at all. I sometimes post subjects that some factions take a strong stand against - I can learn from the responses, even (especially?) the ones I disagree with. A little 'devils advocate' is a valuable tool. Especially when you don't have a group of people you can talk these subjects out with face-to-face.

All the best to you - ERD50
__________________
ERD50 is offline  
Old 01-30-2008, 09:21 AM   #211
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
ERD, I have closed this thread. You were posting as I closed it. You might want to repost in a different thread or just ask questions as they may come up from time to time on other threads, like the current rent v. own thread and the momentum investing thread.
__________________

__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline  
Closed Thread


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
another millionaire next door chuck FIRE and Money 3 06-28-2006 06:33 AM
What is your net worth based on the "Millionaire Next Door" maddythebeagle Other topics 10 07-28-2005 12:28 PM
Book Report - Millionaire next door cute fuzzy bunny Life after FIRE 72 10-18-2004 07:52 PM
Good book - The Millionaire Next Door Telly Other topics 18 08-20-2003 04:37 PM

 

 
All times are GMT -6. The time now is 02:14 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.