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yes i am a young dreamer!
Old 01-11-2011, 04:24 PM   #1
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yes i am a young dreamer!

At 29 years old and already burned out of mind numbing repetive work that isent going to get me even close to my dream I decided I needed
a drastic change. It was about 2 years ago that a good friend introduced me to some books about money, personal finance, businessn and of course retirement and needless to say I was shocked at what I have learned over the past 2 years.

sadley, most people are not going to be able to retire or retire the way they would prefer. that really strikes a chord with me because I dont think that that is fair. to make matters worse, with all the bills, rising medical costs, unforseen expensis, and rising prices in everything I can see how someones savings can be quickley depleted and then what happeds when you run out? what is one supposed to do? start all over agin?

To top it all off what if my child decides to go to college how am i gonna pay for it? I believe that if your in the upper income bracket you dont qualify for any loans or much support or so i have heard "please correct and inform me if i am wrong" so I"ll have to pay for it all.

obvisouly, there is a lot to consider and think about. So what is going to solve the problem? well sence I cant really count on social security paying all my living expensis and then some later in life what I need is other cash flow from other sources like real estate, business, a 401k or pension, divadend paying stocks buying and selling things on ebay? im open to any other suggestions anyone may have and would love to help someone to if i can in return.

Till then my goal is set at age 35 or the year 2016/2017 i would like to financially free if not very close to and continue to do what ever it takes
thanks for reading
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Old 01-11-2011, 04:34 PM   #2
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Did you read these responses to your post yesterday? hi my name is justin

I think you are going to have to work, like most people do, to save money until you have enough to retire, send your child to college, etc., etc.

What books did your friend give you to read?
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Old 01-12-2011, 11:36 AM   #3
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I'm sorry to say that I'm beginning to think you're not joking or trolling. However other people are reading this thread too, and some of them may be wrestling with your same issues, so let's at least answer your questions for their benefit.

Quote:
Originally Posted by justinwc View Post
that really strikes a chord with me because I dont think that that is fair.
"Fair"? What an interesting concept. Where are the referees?

And yes, you are supposed to start all over again. You don't get credit for surviving being knocked down. You get credit for struggling back up to your feet and trying again-- hopefully a different approach with a higher chance of success.

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Originally Posted by justinwc View Post
To top it all off what if my child decides to go to college how am i gonna pay for it? I believe that if your in the upper income bracket you dont qualify for any loans or much support or so i have heard "please correct and inform me if i am wrong" so I"ll have to pay for it all.
Good question. For starters, you haven't alluded to being in an "upper income bracket", so presumably if you can continue to avoid that fate then you won't have to pay for your child's college education.

Spouse and I went to service academies for "free", and about 75% of our daughter's college bill is being paid by Navy NROTC. Of course there are "paybacks" to the military's largesse. But we left college with skills and income and a career, and our daughter expects to do the same. Military scholarships are just one way to pay for college, along with "civilian" scholarships and work-study programs.

Before you point out that you're "too old" for an option like the military, I spar taekwondo with a 40-year-old divorced parent of two teens who just joined the Army National Guard. She had to stop her college education (paid for with scholarships & work-study) just short of her MBA, but she's going to start it back up as a 2LT with that righteous GI Bill. And whatever benefits she doesn't use can be transferred to her kids someday.

She's taught me quite a bit about getting back on your feet after being knocked on your ass, and I don't mean that in just the metaphorical sense.
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Old 01-12-2011, 02:12 PM   #4
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Lots of good advice given so far. There is nothing wrong with dreaming, question is....how hard are you willing to work at it to make those dreams come true.
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Old 01-12-2011, 04:27 PM   #5
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sadley, most people are not going to be able to retire or retire the way they would prefer. that really strikes a chord with me because I dont think that that is fair.

Yes, it isn't fair! Where's my 80-foot ocean-going yacht? What about my private jet? My Corvette? My 40-room mansion with butlers and maids and groundskeepers? That's the way I would have preferred to retire, but didn't.

Doggone it, I worked for years and years and don't have any of those things! It just ain't fair I tell ya!
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Old 01-17-2011, 08:55 PM   #6
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Originally Posted by justinwc View Post
To top it all off what if my child decides to go to college how am i gonna pay for it? I believe that if your in the upper income bracket you dont qualify for any loans or much support or so i have heard "please correct and inform me if i am wrong" so I"ll have to pay for it all.
Community College.

Rant on
"going to" not "gonna"
"you're" not "your" in the above context
"don't" not "dont"
"I" not "i"
Rant off

If you go through life as carelessly as your spelling and grammar in these posts, then you're going to have a difficult time becoming the person you think you should become. You also need a harsh dose of reality - you will not become financially independent in the next six years. More so if you ditched a paying job that was needed to support your family just because it was "mind numbing" - grow up.

You are coming across as a middle school student with way too much time on your hands. You think logging on to forums and yanking people's chains is a lot of fun. Tootle along, now.
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Old 01-17-2011, 09:33 PM   #7
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Originally Posted by justinwc View Post
sadley, most people are not going to be able to retire or retire the way they would prefer. that really strikes a chord with me because I dont think that that is fair.

As a taxpayer, it is not fair that I should be compelled to pay taxes to subsidise the retirements of people who choose not to work hard, save and generally manage their finances prudently. Other people's failure to save has the effect of lowering my family's standard of living and/or extending the portion of my finite life spent working.

Quote:
Originally Posted by justinwc View Post
to make matters worse, with all the bills, rising medical costs, unforseen expensis, and rising prices in everything I can see how someones savings can be quickley depleted and then what happeds when you run out? what is one supposed to do? start all over agin?
Bills, rising medical costs etc are not unforseen. They are part and parcel of life. It would be surprising if they didn't occur. If you expect to live a relatively normal life, you should plan for and provide for bills. Yes you can get knocked back for all sorts of reasons (including many beyond your control) in which case you have a choice:

(a) get back on your feet and rebuild your finances; or

(b) sit around and whine about it until somebody else takes responsibility for your life.

Apologies for the rant.
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Old 01-17-2011, 10:13 PM   #8
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Rant on
"going to" not "gonna"
"you're" not "your" in the above context
"don't" not "dont"
"I" not "i"
Rant off
After reading all of his posts, I think Justin is doing the best job of communicating that he knows how. If he was spamming or trolling then the moderators would've picked up on it by now. Believe me, my spamtennae give them enough post notifications to notice. I could be wrong, but I'm willing to spot him the benefit of the doubt.

A number of posters on this board are speaking English as a second language, and many don't have the scholarly writing training/practice to find grammar checkers and spell checkers to be second nature. While their writing may not be to everyone's standards, that shouldn't discredit their message or their questions. A lack of the quality you expect to see in a post doesn't necessarily indicate carelessness, either. For all you know, he's typing with his thumbs on a Blackberry or working through a disability. I think he deserves credit for his perseverance. A little constructive commentary, let alone encouragement, could be a big help.

If y'all's* gonna rant for the grammar/spelling police every time that someone uses a colloquial contraction of which you ain't approvin', then yer gonna be workin' awful hard on this here board...

[Sorry, I haven't spent enough time in Texas to remember whether that's "y'all" or "all y'all"...]
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Old 01-18-2011, 03:13 PM   #9
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[Sorry, I haven't spent enough time in Texas to remember whether that's "y'all" or "all y'all"...]
one is singular and the other is plural btw...
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Old 01-18-2011, 04:02 PM   #10
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one is singular and the other is plural btw...
I grew up near Pittsburgh, where that ambiguity was covered by the multi-use noun "Y'uns"...
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Old 01-18-2011, 06:31 PM   #11
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Thank you Nords for reminding people here that some of us (including myself) do not speak English as their native tongue, hence the occasional typo / grammatical mistake.

Quote:
Originally Posted by Nords View Post

A number of posters on this board are speaking English as a second language, and many don't have the scholarly writing training/practice to find grammar checkers and spell checkers to be second nature. While their writing may not be to everyone's standards, that shouldn't discredit their message or their questions.
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Old 01-18-2011, 06:39 PM   #12
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I grew up near Pittsburgh, where that ambiguity was covered by the multi-use noun "Y'uns"...
Well, "ynz all" was a perfectly valid construction too.
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Old 01-19-2011, 12:09 PM   #13
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Justin, as you have worked out life is not fair, however you need to get over that and focus on what you can control - that is what you say and do. If you spend all your time trying to solve the worlds problems you will not have time to pay attention to what is going on in your own personal situation.

Read all the finance books you can to educate yourself. Work out a budget, track your expenses to see where your money is going. Until you do these things you can't really move forward.

There are some obvious things you can do for yourself to prevent bankruptcy make sure you have adequate medical insurance, if you have children try and get money into college funds and encourage them to go in state or community college.

You need to stop worrying about what might happen and focus on those things that you know are happening to you right now. As you get yourself on a better footing you will find yourself in a better position to help those around you.
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Old 01-19-2011, 02:57 PM   #14
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Originally Posted by Nords View Post
[Sorry, I haven't spent enough time in Texas to remember whether that's "y'all" or "all y'all"...]
I believe Paula Dean gave the definitive answer when she flipped the Rose Bowl coin this year and wish the teams: "Good luck to all of y'all." In Chicago we say "you guys" for singular and "youse guys" for plural.

Justin, it's the content of your post that most of us are concerned with. If you had used perfect grammar/punctuation/spelling there would be the same worries.
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Old 01-19-2011, 04:56 PM   #15
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Originally Posted by East Texas View Post
Community College.

Rant on
"going to" not "gonna"
"you're" not "your" in the above context
"don't" not "dont"
"I" not "i"
Rant off

If you go through life as carelessly as your spelling and grammar in these posts, then you're going to have a difficult time becoming the person you think you should become. You also need a harsh dose of reality - you will not become financially independent in the next six years. More so if you ditched a paying job that was needed to support your family just because it was "mind numbing" - grow up.

You are coming across as a middle school student with way too much time on your hands. You think logging on to forums and yanking people's chains is a lot of fun. Tootle along, now.
++ I sent you a personal message with more information. ++

I have to agree with the previous posts that took you to task for the above post. We do not know what challenges a poster faces in posting e.g. age, location, quality/type of computer (e.g. shift key not working), culture, education. To mandate that a poster must post what challenges or influences their post could stifle their posting.

It is not the obligation of the poster to conform to the strict confines you mention in you post. It is the reader's responsibility to do whatever they must to understand the post and respond appropriately. If the reader infers something incorrectly and responds inappropriately because of the original poster's poor grammar then, the reader is at fault.

Although you may have had good intentions in attempting to guide the poster; those intentions might be misdirected. Generally, your advise is good for the majority of people in the USA. However, the poster might not require good communications skills. I am specifically thinking about modern art where the observer's interpretation is more important than the artist's intent. This would also apply to some of Thomas Pynchon's books.

Please remember in your future post that we do not know what factors might influence a poster's style. We do not even know if the poster is of this world. (You) Think other world aliens. Imagine what would be lost if other world alien posted here only to leave because of your post about using proper English.

Reality is wrong. Dreams are for real.
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Old 01-19-2011, 05:11 PM   #16
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Quote:
Originally Posted by dex View Post
++ I sent you a personal message with more information. ++

I have to agree with the previous posts that took you to task for the above post. We do not know what challenges a poster faces in posting e.g. age, location, quality/type of computer (e.g. shift key not working), culture, education. To mandate that a poster must post what challenges or influences their post could stifle their posting.

It is not the obligation of the poster to conform to the strict confines you mention in you post. It is the reader's responsibility to do whatever they must to understand the post and respond appropriately. If the reader infers something incorrectly and responds inappropriately because of the original poster's poor grammar then, the reader is at fault.

Although you may have had good intentions in attempting to guide the poster; those intentions might be misdirected. Generally, your advise is good for the majority of people in the USA. However, the poster might not require good communications skills. I am specifically thinking about modern art where the observer's interpretation is more important than the artist's intent. This would also apply to some of Thomas Pynchon's books.

Please remember in your future post that we do not know what factors might influence a poster's style. We do not even know if the poster is of this world. (You) Think other world aliens. Imagine what would be lost if other world alien posted here only to leave because of your post about using proper English.

Reality is wrong. Dreams are for real.
Tupac Shakur
Dex, did you qualify for some "medical" marijuana?
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Old 01-19-2011, 09:24 PM   #17
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Dex, did you qualify for some "medical" marijuana?
No, but anytime we see a post such as ET that shows such insensitivity to those who might be different than the majority we must pounce on it, regardless if what ET wrote applies to 99.99999999999% of people in the USA. We must stand up for that .000000000001%. And, if they give us the opportunity stand up for whatever of our personal causes that can be shoehorned into the discussion; so much the better.

What is next; discriminating against people who do not use correct punctuation?


Eats, Shoots & Leaves
Think about it.
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Old 01-19-2011, 10:07 PM   #18
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<sigh> This has nothing to do with English as a second language. The OP is not ESL.

It has everything to do with paying attention to details. I can't think of one successful person who does not have above average communication skills. If this OP wants more from life, he's going to have to improve these skills. He did ask for suggestions.

Oh, and dex... there should have been a question mark after "next" instead of a semi-colon. A semi-colon separates independent thoughts. A colon is for lists. A question mark is for... a question.

I'm just yanking your chain.....
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Old 01-19-2011, 10:40 PM   #19
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Well, at least Justin wasn't trying to sell us anything. Maybe it's a style thing....

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Old 01-20-2011, 02:59 AM   #20
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No, but anytime we see a post such as ET that shows such insensitivity to those who might be different than the majority we must pounce on it, regardless if what ET wrote applies to 99.99999999999% of people in the USA. We must stand up for that .000000000001%. And, if they give us the opportunity stand up for whatever of our personal causes that can be shoehorned into the discussion; so much the better.

What is next; discriminating against people who do not use correct punctuation?


Eats, Shoots & Leaves
Think about it.
Ah, so you are a member of the Justice League. What color cape and mask did they give you? I told them I would rather not join when they offered me a pink velour version.
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