How do you aquire assets?

[hollowtipsParticipant 681]

So I’ve been doing a lot of reading lately and they say the key to wealth is having assets that work for you and make money even when you are not doing anything. Traditionally in the past say a man bought a pinball machine for 100$ and it made him 50$ a month in 3 month’s he would have made back the money he already spent and in a year he would have made 500$ extra. Might not seem like much but say the man over the course of each 12 months bough 5 more pinball machines making 6 in total making him 50$ a month. Suddenly he’s making 300$ a month or 3600$ a year. over the course of 10 years they would make him 36,000 dollars not a s~~~ load of money but you didn’t have to do anything for it and you can invest it into what you sees fit.

Today their are no pinball machines that will make you 50$ a month that aren’t already 500$. Their are basically no investments for small timers to get into the game and they are almost exclusive to middle and upper class persons. All I read about is businesses, real estate and stocks. Real estate is financially impossible for me at 22 and business isn’t impossible but extremely difficult to actually profit off of for the first 2-5 years. Stocks you can technically profit off of in a reasonable amount of time but you usually have to invest a lot to make a lot, it’s a huge gamble for a lot of riskier products and safer products offer bitch returns.

So I’m hoping us men can put our heads together and come up with better more realistic ones not just for myself but for other financially challenged men as well. I know that collecting highschool and college art can sometimes be profitable as well as things like youtube videos but I currently don’t have the time to maintain a youtube channel.

[RoyDalParticipant]

What worked for me is:
* Stay out of debt. Pay cash or do without.
* Spend less than you earn. Save aggressively.
* When your savings reach critical mass, invest prudently.

The investment that worked for me is income producing real estate that pays for itself. That is, the rent covers all the expenses.

You say you’re reading up on this. Have you read Rich Dad, Poor Dad? I recommend it and most libraries should have it, since it’s a perennial best seller.

Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
by Robert T. Kiyosaki
http://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680011/

Society asks MGTOWs: Why are you not making more tax-slaves?

[Big Viking Chef BVCParticipant 1286]

Chilton – The Wealthy Barber

Swallow this RED PILL ===> Men will lay down their lives for their brothers, their women and their children. This makes Men useful as slaves. Women will lay down their lives for ONLY their children. To expect more from women is just a FANTASY created by society and reinforced by the unconditional love that we experienced from our Mothers. The key to freedom is the understanding that the woman you meet is not going to fantastically love you like your Mother did. If you buy into the fantasy, then she is your new master. If you do not buy into the fantasy, then she is nothing, and you retain your freedom.

[John Woods 13Participant 2855]

hollowtips wrote:

All I read about is businesses, real estate and stocks.

This seems about right. There is no way to make money fast and easy. And making money by yourself (i.e. not a salary) is problematic, considering the amount of regulation in all the world’s economy.
But the above still apply because they are difficult:
Business = lots of time and lots of work
Real estate = lots of money and moderate work and risk
Stocks = lots of money and lots of risk
And yes, those are the available options because of the required money/work/risk involved. Not many people willing to take on such challenges, which is why there is still opportunity there. If it were easy, everyone would do it and the returns would be dismal. That’s why most people choose salaries now, because they require a one time investment in schooling/training and no risk.
So, I guess, in your case, opening your own business is the only option, but if you don’t have time to maintain a YouTube channel, you won’t have time for a business for sure. So, at this point you are stuck, unfortunately.

The answer is NO. “I could but I won’t”. Memini murum!

[TaxGuyParticipant]

Hollowtips:

First question: Do you want an investment or a job? Pinball machines are a job. You have to collect money, find space, keep up repairs. Granted, it may not be the hardest job in the world, but it is still a job. Plus, if you want your money out of it, a pinball machine doesn’t sell immediately.

An investment, such a stock, you buy, keep track of, and sell immediately if you need the cash.

Roydal is spot on about saving until you reach critical mass. What’s wrong with cash right now? Keep studying and figure out what kind of job/investment you are interested in. Warren Buffett spends a great deal of time doing absolutely nothing. My opinion is that a “rich man” mentality is to keep accumulating cash until something unreasonable happens, and then profit off of it. For example, oil went from $100 a barrel to $40. Oil companies got hammered. I’m not saying jump in and buy stock in oil companies, but that is when you have to ask yourself if this is a short term blip or a long term trend. In ’08 GE was selling for $8 per share. That was a great buying opportunity.

Order the good wine

[ILiveAgainParticipant]

Whatever way you go … you MUST spread the risk. Don’t put all your eggs in one basket.

Also research compound interest.

We can all give advice but it’s your money. So take your time.

[hollowtipsParticipant 681]

To be honest the pinball machine was just an example/metaphor. Also I don’t particularly imagine a pinball machine breaking down on a daily or even weakly basis so it’s not really a job but in fact a task. Like raking leaves in the autumn and spring cleaning.

[DrAK74Participant 77]

One word: WORK. It is a consistent provider of money, which eventually leads to wealth if you do it right….Rich dad Poor Dad is a great first step. In my opinion, get rich quick stuff is all a scam…..avoid it.

[Author]

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