No Profanity *** No Flaming *** No Advertising *** No Anti Trappers ***NO POLITICS
No Non-Target Catches *** No Links to Anti-trapping Sites *** No Avoiding Profanity Filter
You disagree about the average of 10 hours per week?
As PF farm says, I think it's great for average people. I laughed because the market is open 32.5 hours a week and that doesn't account for paperwork, and if you're counting reading financial articles and such then for me it's over 50.
Proudly banned from the NTA.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Or I'll just end up walkin' In the cold November rain
Remember reading something about "where your treasure is, is where your heart is." So it being Christmas morning I'll go with Harry Bailey's definition...
I enjoy the opportunity to see everyone's opinions on Dave Ramsey, saving, investing, and all things financial. I read everything I can along those lines including Boglehead and Early Retirement forums. What works for one will certainly not work for everyone. Monitor your net worth at least on an annual basis and work to increase your net worth. Sometimes this means paying down debt. Sometimes it means investing in something as simple as an index fund and letting it ride. Even doing both.
When it comes to investing, just get started even with a small amount.
I knew a wealthy farmer/landowner who was talking about his land acquisitions. He said he bought the first quarter of ground, and was very frugal until it was paid off. Then he bought another and stayed frugal, but used the first farm to pay off the second one faster. Rinse and repeat. He says "and before you know it, you can't stop it."
It would be interesting to read a thread like this from 2008, just after the crash.
Nature is reckless of the individual. Aldo Leupold.
Great point, Orlando. Its not about timing the market, its about time in the market. The earlier a person gets started, the more 'doublings' they will see....
I am a fast reader, so cover the WSJ, the private digest, and the oil & gas newsletter quickly. I have created forms for everything else - gather the details and plug it into forms to have a comprehensive updated look at our situation. What takes the most time is analyzing, managing, and verifying the monthly production reports for the wells spread over two companies. For example, yesterday i received the production statements for October. All sales of crude oil are reported at 14% less than the actual selling price. That affects royalties. Time for another reconciliation.
The regular joe citizen is much better off studying all the different economic theorys,,, and there’s a bunch of them
And the history of economics,,,the results/ consequences
Instead of focusing on data,,,,,,
Reason being,,, the data is all corrupted
Nobody actually knows how many dollars are in circulation,,how much gold/silver there is,,, how much oil supply there is,,,nobody actually knows what’s going on in china,,,etc,,,etc,,, etc
People give their best guess,,, trying to justify something/ influence
The inflation/jobs data is just taken from small samples and then compared against past small data sets
It can all be manipulated,,,,,and it is
Understanding the theory on how the system works, greatly helps when comes to having conviction in what your doing
I do get the feeling there are a lot of investment 'experts' among us that have lots of theories, studies and degrees, that likely dont have much time actually investing in the market. I also know there are some on here that have forgot more about investing and finance than Ill ever know. I think most on here know who falls into which category... This is not meant to be derogatory...rather, readers be cautious...
Seriously, Capitalism will raise the quality of life for all people, but the current poor don't get all their wealth from capitalist activities. They get it from wealth transfer programs. They certainly could not live as well as they do without government handout programs.
there would be a weaning off period but, anyone that wants to succeed and increase their quality of life can simply by following the example of the level they would emulate. The govt is just a roadblock. If you can not live on min wage, do not apply for a min wage job, it is really all that simple in these US of A.
So, at what amount of money do you consider a wealthy person to have in their portfolio to have the title of wealthy. Not talking Net Worth talking portfolio in investments only.
How Much in Portfolio Is Considered Wealthy? Do agree with assessment? Looks like this view looking at NW instead of just portfolio. In 2025, the average net worth required to be considered "wealthy" in America is around $2.3 million. This figure varies by generation, with Baby Boomers expecting it to take $2.8 million to be considered wealthy, while Generation Z sets the bar at $1.7 million. The survey also indicates that a net worth of $839,000 is sufficient to be "financially comfortable." These figures reflect the subjective nature of wealth, as many Americans also value happiness, health, relationships, and free time over monetary wealth.
Give me a fish, I will eat for a day. Teach me to fish, I will eat for a lifetime
Work hard and be frugal, and never apologize for making it big with hard work and a good plan, then sticking to it. I get so ticked off when I hear comments about oh you work here or there, or you make this much or that much. You can do anything you want to do and what you do with it is completely up to you. I will never apologize for being successful. I’ve worked my butt off to get here. I have no idea what “class” or category of income I fit into relative to the masses. I just know what I did and that my wife and kids are well cared for and will always be well cared for. That is what I promised my wife on our wedding day and I meant it. Jim
Money cannot buy you happiness, but it can buy you a trapping license and that's pretty close.
Is 839k sufficient to be comfortable....doubt it. Not if you need to survive on it for 30 years...UNLESS you have a pension or decent social security to go along with it. (839k x .04 =33k per year). 33k per year is not enough for 30 years of retirement.
The other survey numbers are probably accurate...at least in my opinion
Work hard and be frugal, and never apologize for making it big with hard work and a good plan, then sticking to it. I get so ticked off when I hear comments about oh you work here or there, or you make this much or that much. You can do anything you want to do and what you do with it is completely up to you. I will never apologize for being successful. I’ve worked my butt off to get here. I have no idea what “class” or category of income I fit into relative to the masses. I just know what I did and that my wife and kids are well cared for and will always be well cared for. That is what I promised my wife on our wedding day and I meant it. Jim
"How Federal Poverty Level amounts determine eligibility for reduced-cost health coverage Income between 100% and 400% FPL: If your income is in this range, in all states you qualify for the premium tax credit that lowers your monthly premium for a Marketplace plan. Income below 138% FPL: If your state has expanded Medicaid, you may qualify for Medicaid. Income below 100% FPL: You probably won’t qualify for savings on a Marketplace health plan, but you may qualify for Medicaid"
$15 per hour will put a family of 4 at FPL. Not minimum wage, except some places. Not the cut off for free stuff. Any day the weaning will commence.
