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Author Topic: Any millionaires here?  (Read 822 times)

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Offline GoodboyTopic starter

Any millionaires here?
« on: October 24, 2010, 12:17:16 PM »
hello guys and gals. i hope this is the correct place to put this.

With the economy down and nearly out, i was just wondering if we have some wealthy ones amongst us.

Calling all Millionaires (in terms of US$)!
hoping to get some tips  ;D

Offline Hunter

Re: Any millionaires here?
« Reply #1 on: October 24, 2010, 12:31:24 PM »
Don't buy ACME.   It never did the Coyote any good.    >:)

Offline GoodboyTopic starter

Re: Any millionaires here?
« Reply #2 on: October 24, 2010, 12:55:29 PM »
^^^ im just starting out u know.
meet me again in 5 years  ;D

Offline Oniya

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Re: Any millionaires here?
« Reply #3 on: October 24, 2010, 05:48:54 PM »
Don't buy ACME.   It never did the Coyote any good.    >:)

On the contrary - buying stock in ACME is probably a good idea.  It's got one hell of a loyal customer base.  I mean, really - no matter how many times ACME products blew up in Wile E.'s face, he still kept buying from them.

Offline FreedomJazzDance

Re: Any millionaires here?
« Reply #4 on: October 28, 2010, 12:49:16 AM »
On the contrary - buying stock in ACME is probably a good idea.  It's got one hell of a loyal customer base.  I mean, really - no matter how many times ACME products blew up in Wile E.'s face, he still kept buying from them.

Consumer Loyalty? Or did he just get tired of them spamming his mailbox with useless magazines?  :D

Offline Balen

Re: Any millionaires here?
« Reply #5 on: October 29, 2010, 02:04:44 PM »
Some tips to be successful in business:

Persistence through anything, and to never give up no matter what. Put off gratification for now and experience it later. Assemble teams rather than do it all yourself. Look for businesses you can set up and let run themselves, without the need to manually supervise. If you are in a business that requires a large time investment, your earning potential is limited as if it were a job, whereas largely self generating income streams make things much easier. You can find these, but they will take time to find.

When you fail get up again immediately. <--- My first and foremost tip in any business.

Let's see what else. Remove emotion from businesses decisions, all emotion. Target bigger clients always, seeking the sale you'll rarely get over the many common transactions that will absorb your time. Again I repeat the above, put off gratification for now, and experience it later.

Millionaires have come from Mcdonalds, observing the last sentence above alone.

Offline Inkidu

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Re: Any millionaires here?
« Reply #6 on: October 29, 2010, 07:29:22 PM »
On the contrary - buying stock in ACME is probably a good idea.  It's got one hell of a loyal customer base.  I mean, really - no matter how many times ACME products blew up in Wile E.'s face, he still kept buying from them.
There was once a gag in a magazine (I don't recall which it might have been Playboy or Mad) but it had the whole formal lawsuit of one Wile E. Coyote v. Acme Corporation. It was absolutely hilarious.

Offline Oniya

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Re: Any millionaires here?
« Reply #7 on: October 29, 2010, 08:21:43 PM »
There was once a gag in a magazine (I don't recall which it might have been Playboy or Mad) but it had the whole formal lawsuit of one Wile E. Coyote v. Acme Corporation. It was absolutely hilarious.

Slightly more high-brow - it was the New Yorker.

http://en.wikipedia.org/wiki/Acme_Corporation#Legal_humor

Offline Endorphin

Re: Any millionaires here?
« Reply #8 on: November 01, 2010, 05:47:09 AM »
Balen makes some good points which I’d like to add to…

Wealth is not something that happens overnight. It takes consistent effort and diligence to build an empire in any field. Being a ‘millionaire’ isn’t really something that is reserved for the elite, but it’s not exactly going to fall in your lap either. You’ll notice that many people who get rich quickly (such as from lotteries) also tend to squander their fortunes quickly too.

Develop a system and use it. It is important to be both persistent and consistent. Avoid spending too much on things that have little value or will depreciate in value (such as vehicles, entertainment systems, clothes, cell phones etc) and invest in assets which produce money (from yield and/or growth). Property is a great example; as it is simple, solid, can provide a great return, and offers a brilliant way to legally minimise your tax. Employ this kind of strategy, and one day, you'll wake up 5 years later and be amazed by how you have managed to accumulate so much money with seemingly little effort. It's worth it.

Also, since I get the impression that people would like some practical tips rather than a list of philosophies, I recommend that you read ‘Rich Dad, Poor Dad’ and ‘The Cashflow Quadrant’ by Robert T. Kiyosaki. These are great beginners books that are simple to understand and provide great examples for people to maximise their potential and build their own personal wealth. I’ve read these books, along with others, and employed their techniques (and other similar techniques) with great success.

Offline Chriscadizzle

Re: Any millionaires here?
« Reply #9 on: November 08, 2010, 05:55:25 PM »
My parents are normal middle/upper-middle class, don't get me wrong, but if you want to get crazy rich, just do what my uncle did, take out all the student loans you need to pay your way through fifteen years of college/med-school, and then take two part time jobs that pay like full time jobs.  He has a private emergency practice, and he's a health analyst/medic for a state's emergency response (SWAT) police unit.

Last year he made half a million after bonuses and taxes.  He's epic, and drives a Bentley, or one of his 8 other cars.

My mom drives a Jetta. :D

Offline AtlasEros

Re: Any millionaires here?
« Reply #10 on: November 08, 2010, 08:23:23 PM »
Lol, this looks like a reverse of the spam I get in my email every day.