Marriage Is For Broke Men Only!

[djfourmoney]

This is one reason I don't ever want to be rich. It makes you more of a target, especially to the harpies. And the government. And, well, everybody who wants something.

Pre-nups are100% worthless. A judge will just declare it invalid. Just like that. Because, you know, f**k you, that's why. Hide stuff and don't let any woman know that you are rich. That's what I would do.

What's wrong with being Rich? Yes NGO's and other "do-gooders" will ask you for money but you can spare it, why are you hording it? We just don't call it like we see it. We think hording is for compulsive people. Sorry but that is some rich people as well. Its impossible to spend the money some people have in two or three lifetimes.

Of course you'll be taxed more, but instead of having the bullshit reaction that you should had, why not read up on economics. I have argued successfully that even $500,000 for a household income is not what it use to be, so if you consider that rich, its not.

That is upper middle class these days. With the Sequester deal from earlier this year, you got a marginal hit in your taxes, big deal. You'll give the Government like $1,500 a year more. If you're whining about that, you better get a better accountant or tax lawyer.

If you spend more than 320 days a year out of the country and earn less than $92,500, you are tax exempt and I am pretty sure you qualify. If you start making hundreds of thousands of dollars you can afford to pay taxes, Warren Buffet isn't whining, why are you???

Your post essentially comes down to saying, "Why don't you want to be rich? We're just going to take your money. That's all!" The last things I want to fund are the dadygov, NGOs, and "charities." Not that I'm ever going to have to worry about it. I'm aiming for a modest income and most importantly: freedom. Being rich makes one a target and what you have said shows it.

You can always say no and this is what happens in a monetary based, unequal, racist society. The Have's outnumber the Have Not's; so when its time to fund these programs many say the Government shouldn't be doing, Non-Profits/NGO's they are going to ask the Rich who can afford it to give them some money.

Define "Freedom", I don't think you have any idea of the concept. If you think not being forced to pay any tax whatsoever is apart of being free, then do like the many of the so-called Lazy and earn just enough for the earned income tax credit and like the Right loves to say, pay no income taxes.

You have two ways to pay no taxes if that offends you so much. You will have to pay tax in any country you live in, nobody is completely exempt.

Be Poor or Live Outside the US for 330 days and make less than 97K.

Either you plan on being single for a very long time or you're not taking other life issues into account by saying I want to be frugal and pay no taxes.

[djfourmoney]

[djfourmoney]

Alternatively, how about marrying a woman with her own job/career/financial aspirations, who can seriously contribute to the household...and if she's also good looking that's a bonus? I only had to support my wife for about 10 months after we got married. After that she managed to secure a job in her line of business (manufacturing management) and started putting her share in the pot (quite literally - we have a joint bank account).

Many of these celebs seem to aim for the dumb spoiled hottie who will provide no other value to the relationship than (possibly) good sex and a few head turning at upscale restaurants and parties. Their choices have consequences.

There is also the added bonus that many of these women are much more reasonable in a divorce, should it happen. They won't be asking for alimony and might not ask for child support but agree to split the assets.

Men getting taken to the cleaners as it were are men who pick women poorly (especially if its happen more than once) and usually poor women, which goes back to my constantly saying that men don't care about what women do at their own peril and financial security. I agree often men do like marrying attractive women with very little to no job skills in the real economy.

Kudos for the post

[SilverEnergy]

FACT: Employees and self-employed are taxed much more than business owners and those who invest in real estate.

As a business owner and real estate investor, at times you can get away with paying 0% in taxes.

This is mentioned in detail in Robert Kiyosaki's cashflow quadrant.

Inflation and eventually hyperinflation is going to hit the employed and self-employed the hardest.

As far as freedom is concerned, as long as you work for someone else, you're NEVER free.

Those who are free are the business owners who build a TEAM who does the hard work for them.

The next people who are free are usually real estate investors who get passive income through the team they employ.

CEOs of businesses or even small business owners take vacations for weeks, while their company rakes up millions and billions in profits.

Robert Kiyosaki and his breed of self-help get rich quick gurus may be right on anything but one thing: running a successful business takes 1) a lot of luck and 2) qualities only found in a tiny fraction of the general population: acumen and risk taking, perseverance in the face of failure, adaptiveness, and so on.

If one is a natural born businessman or salesman, then good for him: whether he chooses to get involved with real estate or toilet accessories or nanoscale semiconductors, he is bound to do well. For the majority of people out there, the chance of being successful in a non-diversified and personally/actively managed investment portfolio, or a business, are pretty slim.

The reason why many get so (over)excited about going solo and running a business which will project them to the cusp of personal/financial success is because of the glamorous success stories slapped on their faces all over the place on the web or conventional media. And even assuming that all those success stories were 100% true, they suffer from what Nassim Taleb (a trader and financial engineer turned popular author) calls the "survivor bias": we get to know - among much fanfare - the small fraction of successful people without knowing what percentage of the total they are, the total being those who try hard, try harder and hit the dust until exhaustion. It's a bit like idolising the Lady Gagas and Nicki Minaj and ignore the hundred of thousands of wannabe popstars who will continue to wait tables and flip burgers between penny gigs for the rest of eternity.

Sure, owners of (successful) businesses, large or small, can take vacations for weeks while their companies churn millions and billions for them and their lawyers play with their double Irish and triple Caymans to get them negative tax liabilities. Yet you have to take into account the years of instant noodles and office hammock sleeps, the headaches over failed fund raising exercises and creditors. The exclusive and almost obsessive dedication to their business which probably made their marriages and fatherhoods resounding failures. And, ultimately, the simple fact that for each one of them there are 99 or 999 who fail to break even within the first 5 years in business and have to shut shop amidst debt and frustration. The vast majority of them won't even get close to the stage of getting themselves out of the financial independence karmic cycle, let alone hire a team and make them work for him. Those myths perpetuated by self-help and investment gurus are little more than feel-good gimmicks to sell books and seminars, which coincidentally may well be the most part of their actual revenue streams.

The other important concept is the way we measure financial success: the correct measure is not the money the business owner or passive income god makes, but the money the generic dude can make times the probability of making it. A young actor could actually make it to stardom and rake up tens of millions every year, but what's the probability he will make it? 0.1% maybe? So, say, $50,000,000 a year * 0.1 * 0.01 = $50,000. Now take the average doctor, who has to work undeniably hard at med school and be lucky to worm his way out of the hospital system and become a consultant, or run a good private practice. He could be making a good couple of millions a year, and the chance of doing that is not 100%, but a lot higher than a good looking waiter taking acting classes becoming the next Brad Pitt. So say 30% chances, and we are at $2,000,000 * 0.3 = $600,000. Or he could be a modest doctor, still making his fair $250,000 a year with a 90% chance: $200,000.

True, those who work for someone else may not be as bold and risk-taking as the entrepreneurs and active investors, but all personal and professional skills being equal, they have - or at least used to have - a much higher chance to climb a few rungs of their respective career ladders and make their respectable $150,000 with a 90% chance, that's $135,000. Not bad, when you compare and contrast with the $50,000 for the actor, and not that bad compared to the hospital doctor, who will have endured an excruciating study path and a massive upfront investment in education.

Robert Kiyosaki has never advocated getting rich quickly, although, you CAN get rich quickly under the right circumstances.

Just keep on believing what you believe in.

If you have those beliefs that you just posted then that's exactly what your reality will be like.

The reason so many people fail in business is because many people who start business are "know it alls" and think they can do everything themselves.

A good business coach/advisor/mentor can help steer you in the right direction and help you avoid the pitfalls associated with many business start-ups.

Of all people, Donald Trump even has a business advisor and the President of the United States has advisors.

Not doing something because of fears is going to hold you back for the rest of your life.

As far as risks, it's usually the person who's risky, not the venture or investment, you have to learn how to manage risk.

Having fears of failing isn't natural.

Remember, successful people don't fear failure.

[djfourmoney]

FACT: Employees and self-employed are taxed much more than business owners and those who invest in real estate.

As a business owner and real estate investor, at times you can get away with paying 0% in taxes.

This is mentioned in detail in Robert Kiyosaki's cashflow quadrant.

Inflation and eventually hyperinflation is going to hit the employed and self-employed the hardest.

As far as freedom is concerned, as long as you work for someone else, you're NEVER free.

Those who are free are the business owners who build a TEAM who does the hard work for them.

The next people who are free are usually real estate investors who get passive income through the team they employ.

CEOs of businesses or even small business owners take vacations for weeks, while their company rakes up millions and billions in profits.

Robert Kiyosaki and his breed of self-help get rich quick gurus may be right on anything but one thing: running a successful business takes 1) a lot of luck and 2) qualities only found in a tiny fraction of the general population: acumen and risk taking, perseverance in the face of failure, adaptiveness, and so on.

If one is a natural born businessman or salesman, then good for him: whether he chooses to get involved with real estate or toilet accessories or nanoscale semiconductors, he is bound to do well. For the majority of people out there, the chance of being successful in a non-diversified and personally/actively managed investment portfolio, or a business, are pretty slim.

The reason why many get so (over)excited about going solo and running a business which will project them to the cusp of personal/financial success is because of the glamorous success stories slapped on their faces all over the place on the web or conventional media. And even assuming that all those success stories were 100% true, they suffer from what Nassim Taleb (a trader and financial engineer turned popular author) calls the "survivor bias": we get to know - among much fanfare - the small fraction of successful people without knowing what percentage of the total they are, the total being those who try hard, try harder and hit the dust until exhaustion. It's a bit like idolising the Lady Gagas and Nicki Minaj and ignore the hundred of thousands of wannabe popstars who will continue to wait tables and flip burgers between penny gigs for the rest of eternity.

Sure, owners of (successful) businesses, large or small, can take vacations for weeks while their companies churn millions and billions for them and their lawyers play with their double Irish and triple Caymans to get them negative tax liabilities. Yet you have to take into account the years of instant noodles and office hammock sleeps, the headaches over failed fund raising exercises and creditors. The exclusive and almost obsessive dedication to their business which probably made their marriages and fatherhoods resounding failures. And, ultimately, the simple fact that for each one of them there are 99 or 999 who fail to break even within the first 5 years in business and have to shut shop amidst debt and frustration. The vast majority of them won't even get close to the stage of getting themselves out of the financial independence karmic cycle, let alone hire a team and make them work for him. Those myths perpetuated by self-help and investment gurus are little more than feel-good gimmicks to sell books and seminars, which coincidentally may well be the most part of their actual revenue streams.

The other important concept is the way we measure financial success: the correct measure is not the money the business owner or passive income god makes, but the money the generic dude can make times the probability of making it. A young actor could actually make it to stardom and rake up tens of millions every year, but what's the probability he will make it? 0.1% maybe? So, say, $50,000,000 a year * 0.1 * 0.01 = $50,000. Now take the average doctor, who has to work undeniably hard at med school and be lucky to worm his way out of the hospital system and become a consultant, or run a good private practice. He could be making a good couple of millions a year, and the chance of doing that is not 100%, but a lot higher than a good looking waiter taking acting classes becoming the next Brad Pitt. So say 30% chances, and we are at $2,000,000 * 0.3 = $600,000. Or he could be a modest doctor, still making his fair $250,000 a year with a 90% chance: $200,000.

True, those who work for someone else may not be as bold and risk-taking as the entrepreneurs and active investors, but all personal and professional skills being equal, they have - or at least used to have - a much higher chance to climb a few rungs of their respective career ladders and make their respectable $150,000 with a 90% chance, that's $135,000. Not bad, when you compare and contrast with the $50,000 for the actor, and not that bad compared to the hospital doctor, who will have endured an excruciating study path and a massive upfront investment in education.

Just keep on believing what you believe in.

If you have those beliefs that you just posted then that's exactly what your reality will be like.

The reason so many people fail in business is because many people who start business are "know it alls" and think they can do everything themselves.

A good business coach/advisor/mentor can help steer you in the right direction and help you avoid the pitfalls associated with many business start-ups.

Of all people, Donald Trump even has a business advisor and the President of the United States has advisors.

Which is why I get offended when people try to call me a "Know it All" I don't know it all, I do have some experience however.

I'd be happy to let others do it and I have, you have no idea how much I have actually worked on my cars, I always get somebody else to do it for very little in return but for recognition. That doesn't mean I don't know how, if you have worked on cars, you know two hands are better than four, so somebody gets to do the majority of the work and its usually not me.

The problem with doing blogs, podcast and videos are they don't make themselves. To get others to do it cost money to pay for their time and talent. I am not in that position and I am trying to find a solution to my blogs so all I have to do is add content. I don't want to work on placement of banners, code, java script, none of that stuff.

Fiverr looks like the solution there.

I should also mention that much of the content I have planned needs equipment to be made. Most small business fail due to lack of funding not people being know-it-alls. The know it all comes in when they try to do it all themselves and is embarrassed to ask for help. Its certainly not lack of ideas...

High School children should be taught how the SBA works and how to apply for loans if GOP loves to say that the biggest creator of new jobs is small businesses.

They don't want that because the elites want to give the keys to the Nation over to their children, not yours...

[publicduende]

Robert Kiyosaki has never advocated getting rich quickly, although, you CAN get rich quickly under the right circumstances.

Just keep on believing what you believe in.

If you have those beliefs that you just posted then that's exactly what your reality will be like.

The reason so many people fail in business is because many people who start business are "know it alls" and think they can do everything themselves.

A good business coach/advisor/mentor can help steer you in the right direction and help you avoid the pitfalls associated with many business start-ups.

Of all people, Donald Trump even has a business advisor and the President of the United States has advisors.

Not doing something because of fears is going to hold you back for the rest of your life.

As far as risks, it's usually the person who's risky, not the venture or investment, you have to learn how to manage risk.

Having fears of failing isn't natural.

Remember, successful people don't fear failure.

Advisors aren't a bad idea, provided they provide valuable advice for a reasonable fee. That's what consulting companies do all the time.

Results aren't guaranteed, though. The odd are still against you, no matter what, compared to the average corporate career.

I would rephrase that: successful people do fear failure, but they desire to get back on the driving seat and trying again, or trying differently, until successful. The reality still holds, though, that for each successful entrepreneur there are many more who die failing.

[SilverEnergy]

^^^
You can stay a wage slave, it doesn't matter to me what you do.

A good mentor CAN help you avoid critical mistakes in your business.

There is a reason why many businesses fail and it's some that CAN be fixed.

I'm not going to let other peoples' failure keep me from reaching my dreams or goals.

Business and investing is the way I'm going to go, with or without others' encouragement.

I refuse to let fear keep me from doing what I want to do.

[SilverEnergy]

Failure is one of the best things a person can go through.

For if they learn and grow from their mistakes, they will indeed be successful.

Making mistakes is great!

People who are afraid of failing and afraid of making mistakes are hardly successful.

I look forward to failing AND making lots of mistakes!

Then once I grow and learn from them, then I will be even stronger and smarter and that is what will propel me to succeed!

[publicduende]

^^^
You can stay a wage slave, it doesn't matter to me what you do.

A good mentor CAN help you avoid critical mistakes in your business.

There is a reason why many businesses fail and it's some that CAN be fixed.

I'm not going to let other peoples' failure keep me from reaching my dreams or goals.

Business and investing is the way I'm going to go, with or without others' encouragement.

I refuse to let fear keep me from doing what I want to do.

It's not about being a wage slave, it's about having the right combination of ideas, technologies, business models that will maximise your chances of success.

Don't get me wrong mate but...do you have world-class IP (intellectual property)? Do you have a few million dollars secured in seed funding? Do you have Wall Street advisors or Silicon Valley consultants? Do you have the next big thing in your mind and/or hands? You can be as optimistic as you want to be and that won't hurt at all, but you have to know that your chances or having a business that will break even, let alone be sustainable, let alone grow and create that kind of profit bonanza that will allow you to disconnect from the labouring world...those chances are slim. The odds are overwhelmingly against you. Full stop.

Wise advice and help can steer a business in a better direction, making it more successful and profitable than it would have otherwise been. Yet, that alone is not enough to beat the odds.

By the way, you say you have nothing else to learn on how to make money. Would you mind explaining exactly what your business and money-making ideas are about? I am curious.

[tre]

^^^
You can stay a wage slave, it doesn't matter to me what you do.

A good mentor CAN help you avoid critical mistakes in your business.

There is a reason why many businesses fail and it's some that CAN be fixed.

I'm not going to let other peoples' failure keep me from reaching my dreams or goals.

Business and investing is the way I'm going to go, with or without others' encouragement.

I refuse to let fear keep me from doing what I want to do.

It's not about being a wage slave, it's about having the right combination of ideas, technologies, business models that will maximise your chances of success.

Don't get me wrong mate but...do you have world-class IP (intellectual property)? Do you have a few million dollars secured in seed funding? Do you have Wall Street advisors or Silicon Valley consultants? Do you have the next big thing in your mind and/or hands? You can be as optimistic as you want to be and that won't hurt at all, but you have to know that your chances or having a business that will break even, let alone be sustainable, let alone grow and create that kind of profit bonanza that will allow you to disconnect from the labouring world...those chances are slim. The odds are overwhelmingly against you. Full stop.

Wise advice and help can steer a business in a better direction, making it more successful and profitable than it would have otherwise been. Yet, that alone is not enough to beat the odds.

By the way, you say you have nothing else to learn on how to make money. Would you mind explaining exactly what your business and money-making ideas are about? I am curious.

^^^^This. I have already blown my life savings in a business venture. That was a mistake that will take years to correct. In business you either have to have the money saved or be a great bullshitter in order to get others to let you borrow theirs. After losing my money and 2 years of time to a bullshitter, I would not recommend trusting anyone with money or your time. I also have too much of a conscience to BS someone out of their money. I know what it feels like and I would never do that to another person.

I think a better route is to make your money through jobs (base income) while pursuing your own business ideas on the side. Sure, there are rich people that will tell you otherwise and that they would never recommend working for others. You simply don't have the money and/or business connections that they do. They don't understand the average man so why would I take advice from them? You need to be realistic. Where will your investment $$ come from? If you don't have that, you are dead in the water in many cases. You need to have a unique idea and then have financial backing for that idea. That is how the big bucks are made. You can make some money from Real Estate (many millionaires have), but that business is not what it used to be and will likely get worse. You'll likely lose $$ on any property you buy, which means you'll have to rent it out longer to break even. Add in the cost of property management and maintenance fees...it will take even longer. If your property sits empty for months (likely if you bought in the wrong area), then you are losing $$...not gaining.

Owning/Operating a business is NOT easy. Three out of four business start-ups fail miserably. I'm not saying that one should not try, but that they should be very realistic.

[Teal Lantern]

Warren Buffet isn't whining because he knows the rich are taxed less than everyone else. People who work hard to earn their income are taxed to death. Read some of Buffet's own writings. He keeps is salary, his active income very small, less than $100,000 per year, because that is taxed to death. The taxes on all other forms of income the rich have access to, that normal people don't, are taxed very little if at all.

True. Long-term capital gains taxes are a far different creature than income taxes.
Dividends paid to an individual are taxed higher than if a corp collects them, too.

Buffett also knows he can say whatever, without having to worry about much upstart competition.
Social and business rules have changed drastically, and there are people too dumb to understand that his secretary paying a higher rate of tax than him --- does not equal his secretary paying a higher amount of tax than him.

A Buffett or Trump-wannabe, today, has a much higher regulatory hill to climb.
Buffett started out buying 6-packs of coca~cola for 25¢ and selling them for 5¢ each. These days, almost everything is labeled "not for individual sale" and some jackass would rat you out, pronto.
Hell, you can't even have a lemonade stand without a doughnut-grazer shutting it down for lack of a "permit".

You can still stack cash, but not exactly like these guys did it (though their books are still worth reading, get 'em used. ).
The rules have been changed.

[Cornfed]

I really wonder whether it is still even possible to make it in small business any more. Most nominal small businessmen that are doing well that I know about are in fact effectively corporate middle management without the job security. Most likely a lot of rags to riches types are the illegitimate children of rich tossers who are secretly helped along or people the elite want to have money for other reasons. It seems to essentially be illegal to make it in business now if you are not one of the ruling class.

[tre]

My little brother owns his own small business. He does corporate refrigeration, electrical work (electrician) and Solar. He is very successful and has 2 employees currently. He works around 70-80 hours per week and has more work that he could ever take on. His biggest problem now is that he can't find good employees. He'd rather turn down work than hire employees that are lousy. He's had to fire many of them for drug use. He's had to fire many of them for not taking/passing the required written tests for certification(which my brother pays for). Since he doesn't want to work more than 70-80 hours per week and he can't find enough good employees, he has purposely stopped growth where it is at currently. If the government becomes any more restrictive and regulatory, he may have to cut his employees. Any increased risk from hiring employees (health care law, etc.) and he'll cut all employees, cut some of the jobs he takes on and do all the work himself.

My brother has created a successful business but it is NOT easy. It is hard work. It took him many, many years to build it up. His expertise at his craft and his work ethic are what has made it possible. The US Government makes it very hard to be successful in small business these days. If the government pushes any more restrictions/regulations, small business will become smaller or go out of business completely.

[The_Adventurer]

The problem with some of thinking here is that it assumes it has to be Steve Jobs or bust. Or Tom Cruise or bust! I used t live across the street from Warner Bros. My building was full of actors who were $300 a day players. They could pay their rent, buy food and live a normal life. Just look at the sheer number of productions going on at any given time.

I know too many directors who are not Michael Bay, but can make a living doing what they love. They make a normal middle class living.

Do you know the number of writers who are now able to make $2000 per month or so creating their own work? It doesn't have to be Harry Potter or complete failure. Anyone can make a decent, simple living without working for someone else, and maybe even doing something they love. And anyone can build up a couple grand per month passive income with a decent strategy and a willingness to put in the time. Even if that is all you ever achieve, I still consider it better than working for someone else because there, at least, always remains the possibility that your efforts can grow into something huge. Working for someone else you always know what you salary is, until it is time to go and beg master for more.

Interestingly, I saw a video once where they interviewed ten businessmen on what they would do if they failed, lost everything and had to start over. Not one said they would go out and get a job.

[publicduende]

The problem with some of thinking here is that it assumes it has to be Steve Jobs or bust. Or Tom Cruise or bust! I used t live across the street from Warner Bros. My building was full of actors who were $300 a day players. They could pay their rent, buy food and live a normal life. Just look at the sheer number of productions going on at any given time.

I know too many directors who are not Michael Bay, but can make a living doing what they love. They make a normal middle class living.

Do you know the number of writers who are now able to make $2000 per month or so creating their own work? It doesn't have to be Harry Potter or complete failure. Anyone can make a decent, simple living without working for someone else, and maybe even doing something they love. And anyone can build up a couple grand per month passive income with a decent strategy and a willingness to put in the time. Even if that is all you ever achieve, I still consider it better than working for someone else because there, at least, always remains the possibility that your efforts can grow into something huge. Working for someone else you always know what you salary is, until it is time to go and beg master for more.

Interestingly, I saw a video once where they interviewed ten businessmen on what they would do if they failed, lost everything and had to start over. Not one said they would go out and get a job.

I agree, but it remains to be said that the proverbial $2000 a month from a mildly successful blog, online writing or part-time acting isn't much to live by in most tier 1 countries. Yes, living off that money on a mountain in Paraguay or a beach in Thailand will earn you some much-coveted freedom from the daily grind of corporate labouring and, most importantly, the time to engage in intellectually stimulating activities like reading and meeting interesting people. This is a form of economic arbitrage, and is possible if you're a young, single and relatively skilled individual with no other responsibility than your own happiness.

The moment the same individual grows up and happens (or wants) to acquire more responsibilities, a wife and kids for instance, or sick parents to take care of, or simply some financial security for the future, the "live free on $2K a month" heaven starts showing some serious cracks. Also, with the humongous amount of money printing certain tier 1 countries have been running for some time, it won't be long before inflation materialises and those cushy $2000 won't buy you much in Colombia, Thailand or the Philippines anymore.

Of course, you will say, everyone has to start somewhere. True. Yet, I suspect 99% of the people who get to two or three grands a month will probably realise that's the upper threshold they will ever be able to achieve, without summoning a few people from Wall Street, big government or both.