MGTOWI need advice on how to become financially independent. Does anyone have any? – MGTOW https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/feed/ Mon, 08 Jun 2020 18:05:33 +0000 http://bbpress.org/?v=2.5.14-6684 en-US https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/page/381/#post-40644 <![CDATA[I need advice on how to become financially independent. Does anyone have any?]]> https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/page/381/#post-40644 Thu, 16 Apr 2015 03:57:31 +0000 J.D Silvernail I am an 18 year old Highschool senior who is four weeks from graduating. I will be making the biggest decisions of my life. I need to know how to pay the house bills when i buy a house. I already have a truck. I need to know everything about being financially independent from my parents and not just the basics. I would appreciate any and all advice that i can get. Thank you!

I'm married to the game,but she broke her vows.

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https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40649 <![CDATA[Reply To: I need advice on how to become financially independent. Does anyone have any?]]> https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40649 Thu, 16 Apr 2015 04:07:25 +0000 Keymaster When I was 12, I got a book for my birthday. It was called “The Wealthy Barber” and it explains (in simple terms) how any AVERAGE working man – not even a high earner – can make himself a millionaire- especially if he starts putting away 10% of his earnings AS SOON AS POSSIBLE IN LIFE.

This is not even bulls~~~.

Take 10% of whatever you make and sock it away and NEVER. F~~~ING. TOUCH. IT.
Even if you have to sleep on a park bench, and have to skip lunch.

Financial independence is attainable. DONT WASTE YOUR MONEY ON WOMEN.

Ignore women. Acquire money.

The second you get a pay check, put at least 10% away ALL THE TIME – always pay yourself first.

Welcome to the forums, pal. I would say “good luck” but luck is not a factor.

Oh! and PS, don’t even THINK about having a girlfriend until you are AT LEAST 26 and well on your way to achieving your dreams.

http://www.mgtow.com/video/women-over-the-hill/

If you keep doing what you've always done... you're gonna keep getting what you always got.
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https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40668 <![CDATA[Reply To: I need advice on how to become financially independent. Does anyone have any?]]> https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40668 Thu, 16 Apr 2015 04:38:09 +0000 griffin Firstly, listen to Keymaster…go get “The Wealthy Barber” and follow it’s advice. My only advice would be, that if it is at all possible, try living below your means.

As an example, say just because a bank approves you for a 300,000.00 mortgage doesn’t mean you have to spend 3 hundred k….You could probably still get a kick ass place for half that and have loads of disposable income left over at the end of every month…If you follow that kind of logic with all major purchases you should also quite easily have the 10% to pay yourself every month-hell probably even more than that.

I know too many people that fall into the trap of spending more money once they start making more money…don’t do this!

And hey, without a woman in your life, saving money should actually be fairly easy to do for you.

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https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40698 <![CDATA[Reply To: I need advice on how to become financially independent. Does anyone have any?]]> https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40698 Thu, 16 Apr 2015 05:46:19 +0000 MAXIMUS Look out for yourself man

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https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40699 <![CDATA[Reply To: I need advice on how to become financially independent. Does anyone have any?]]> https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40699 Thu, 16 Apr 2015 05:46:41 +0000 MAXIMUS You = No 1 unequivically

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https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40720 <![CDATA[Reply To: I need advice on how to become financially independent. Does anyone have any?]]> https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40720 Thu, 16 Apr 2015 07:22:40 +0000 Hey Maximus, this is a great link I know you’ll love, spend some time there. There’s male cats there somewhere, you might even get a boyfriend.
http://www.mgtow.com/womens-shelter/

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https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40769 <![CDATA[Reply To: I need advice on how to become financially independent. Does anyone have any?]]> https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40769 Thu, 16 Apr 2015 12:42:43 +0000 bravozulu Rule #1

Don’t be the Average working man…Think Bigger!!!  That is if you have what it takes…not everyone one is cut out to do so…and thank God for that.

Step 1:

Join the Coast Guard or the Air Force for 4 years…preferably the Coast Guard and grow up fast.  Have some fun, adventure, travel with pay and benefits for life.

I used to visit a barber who owned his own shop in an exclusive area of LA…beautiful home, all the toys…but let me tell you how his face lit up when speaking of his 4 years in the Navy traveling the world.  He drank like a sailor, cussed like a sailor, spent money like a sailor and had women in every port. Not that I’m advocating that…he got it all out of his system…sowed his wild oats, AND then focused on building his business.

Correct…don’t waste money on women; however, your a man and have needs; therefore only invest in women that give you the best BANG for your BUCK. And by all means, don’t fall in love…play the field a bit…and do your due diligence.

Soooo picture this:

after a hitch in the service, you’d be 22 or 23 and would of  had real life experience, seen the world, met people from all over and are in a much better situation than a Wealthy Barber circling the same old block year after year with a high net worth.

Go for the EXPERIENCES at your age…if you play your cards right, after 4 years in the military…you’d have life long benefits (thank you for your service etc) travelled the world, made life long friends, had quality female companionship (on YOUR terms) and <span style=”line-height: 1.5;”>you’d have cash in the bank.  If you were really savvy and got expert advice, you might consider putting socking away 5-10% or more in a Vanguard Index Fund…or better yet INVEST IN REAL ESTATE.  Even better…if you enjoy the military lifestyle…stay in for 20 years and invest in real estate the whole time.  Imagine that…if you play it smart…you’d be loaded in 20 years of sooner.</span>

Consider Real Estate School…not for the license, but for the knowledge…either in or out of the military.

The world is you oyster brother!!!

Best of luck to you!

 

 

 

 

 

 

 

 

 

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https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40773 <![CDATA[Reply To: I need advice on how to become financially independent. Does anyone have any?]]> https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40773 Thu, 16 Apr 2015 13:16:15 +0000 I find it interesting that people are mentioning “The Wealthy Barber.”

My parents bought that book about 14 years ago and I always saw it stashed in the bookshelf.  I never picked it up to read it as a kid, because I literally thought it was just a book about how to make money as a barber.  Silly me!

Now that my parents have separated (6 years ago), and my mother has moved out of the house they owned (last August), that book has been passed to me.  I was about to sell that book, too!  Now, I’m interested in reading it…

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https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40776 <![CDATA[Reply To: I need advice on how to become financially independent. Does anyone have any?]]> https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40776 Thu, 16 Apr 2015 13:32:33 +0000 BigD No matter how much you get paid, always live within your means.  Credit Cards and Credit reports are just there to give you quick steps to becoming a wage slave.  If you do get a credit card, keep your charges below your monthly income after taxes.  Use the card for everything.  Then, before the bill is due, pay it off from your main checking account.

For instance, let’s say you get paid 1800 a month after taxes.  You put all your expenses on a credit card for about 1500 a month.  Now, when you pay the card off, you are using money that has already accrued interest for the month, but you have paid off your balance so you don’t incur interest on the credit card.  Not to mention many cards have a cash back incentive on all purchases on the card.  So, you are being paid to pay your bills and being paid to pay off your balance.

It will also help if you invest all you can while you are younger.  Over time you will build up a great amount of wealth by doing nothing.

Now here’s where things get crazy.  Just of that one Credit Card, through time your credit limit on that card should grow as your take home pay grows.  However, if you are only making 3000 a month and your card limit is 10000, don’t spend more than you can pay off at one time.  Also, any raises you get, just invest the raises if possible.  If you can already live on your initial pay rate, why spend more money than you have to?  By this time your credit rating should be quite nice.

As your investment assets grow, and in hopes you have dividend paying stocks that are being invested, you should reach a point where your dividends should be larger than your paying job’s income.  At this time you have hopefully picked somewhere to live that meets all the points in life you want.  (I recommend South East Asia).  Now, if possible, if your dividend income is twice that of what you need to live, stop dividend reinvestment.  The money should more than likely go to a tax free money market account where you can freely transfer it to a checking account.  Transfer only what you need and find more stocks to reinvest in.

Essentially anything and everything you purchase will be with “free” money.  If you wish to continue to live in the States, go ahead a get a house on loan.  With the dividend income pay the mortgage and you should be able to deduct a percentage of your home loan from your tax burden.  If you live in South East Asia it is a bit more tricky.  I recommend doing as much research as you can before making any purchases.  However, renting isn’t a bad option.  Just for comparison, I have rented a two story town home for 100 bucks a month, larger one story for 140 bucks a month in places I actually wanted to live.  However, due to work I have had to pay 250 bucks a month for a one story home and 250 bucks a month for a small apartment exactly where I do not want to be.

Anyway, if you live underneath your means and invest properly everyone should be able to get exactly what they want in life.  However, if you try to keep up with the Jones you will find that retirement is next to impossible.

Also, if a buddy or family member ever comes to you and says, “Hey, I have this great business idea,” don’t fall for it.  I’d be retired right now if I had just said “no” twice.  But I didn’t say no.  I’m not that far from my goals, but I would have met my goals years ago if I had just said “no”.

Don't stick your dick into anyone you aren't willing to put up with for eighteen years and nine months.

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https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40787 <![CDATA[Reply To: I need advice on how to become financially independent. Does anyone have any?]]> https://www.mgtow.com/forums/topic/i-need-advice-on-how-to-become-financially-independent-does-anyone-have-any/#post-40787 Thu, 16 Apr 2015 14:27:38 +0000 BrainPilot Silvernail,
I’m 48 years old and can retire anytime, but I like my work so I do it part time. My job is more like a hobby to me now. My financial history that got me to this point has some once-in-a-lifetime lucky events that can’t be counted on so I won’t go in to those. But it also includes some lessons learned early from older, wiser people than me which I will pass on. These things negate the need for luck.

I don’t type fast enough to explain in as much detail as I’d like, but I’ll start by saying that seeking the advice of people older and further down your path when you are young (as you are doing now) is exactly what I did. So, you are off to a good start. Learn everything you can from as many people as you can as early as you can.

Looking back 30 years later, the most valuable things I learned:

* Have the discipline to control your spending. It doesn’t matter so much how much money you earn if you can’t hang on to it. Celebrities with million dollar salaries who can’t control their spending go bankrupt all the time. If you want to be hard core about it, treat your money as if it’s your blood, and everytime you are about to spend money, ask yourself if this purchase is absolutely necessary for your survival. If not, then keep your money and survive without it. Obviously, this results in living within your means. Warren Buffet is worth 58 Billion dollars. He could eat steak everyday, but eats hamburgers instead. Think about the discipline of that example, and follow it.

* Usually, the biggest drain on any person’s assets… is another person. Rarely do you see someone who is their own worst financial enemy. There is the occasional compulsive gambler or compulsive spender who are their own worst financial enemy. But usually, it is a wife, or girlfriend, or kids, or some other person who is the biggest drain. Choose your relationships as carefully as you choose your investments.

* Make a list of things you like to do. From that list, pick what will earn you the most money and make that a career. Everything else on the list can be a hobby. This way, you’ll always be doing work that you enjoy and will not have ‘wasted’ your life doing something you hate in order to get paid. Everything else on the list is a hobby, but pick the hobbies that are the least expensive to pursue.

* Seek out the best education/training/mentors you can find in whatever you choose above, and then WORK AS HARD AS YOU POSSIBLY CAN to be better at it than anyone else…including your mentors. To use the baseball analogy: do not stand in the batter’s box and hope for a walk. Do not bunt or swing as though you are trying for a base hit. Swing (try) as though you intend to dent some cars in the stadium parking lot…

* When you do start earning money, the money you save and invest early in life is the most valuable money you will ever have. That invested money has 40-60 years to grow. Maximize that by controlling your spending as above. Being young allows you the most valuable possible asset there is: time.

The wisdom to learn from people who’ve gone before you and follow their example, the love of your work, the discipline to control your spending, to invest early and to say “no” to beautiful liabilities, the willingness to work as hard as you possibly can, and the fully committed aspiration to be the absolute best in the world at whatever you do… should serve you well in whatever field you choose to make a career.

Look, it's not my fault that tornado dropped a house on your sister. Now get back on your broom and get your ass out of here... and take your monkeys with you

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