Thread: money
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Old 08-31-2008, 02:03 PM
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reverett123 reverett123 is offline
In Remembrance
 
Join Date: Aug 2006
Posts: 3,772
15 yr Member
reverett123 reverett123 is offline
In Remembrance
reverett123's Avatar
 
Join Date: Aug 2006
Posts: 3,772
15 yr Member
Default Great problem to have

Just some random thoughts-

"Own nothing. Control everything." - John D. Rockefeller
That is just a way of saying that debt is not necessarily bad so long as it is the right kind of debt. The right kind pays for itself and leaves something for you too.

"Rich Dad, Poor Dad" makes a similar point. If you want a new car, buy a lawnmower. That was the advice to a teenager. By mowing lawns he made the payments on the car, had a little left for gas, and when the car was paid for he still had the mower.

These are crazy times. The stock market is no place to be. Things like gold and wheat futures are better but only if you are trying to preserve wealth. You are going for income.

Here is my advice. Do in the order indicated:
1) Stockpile medication. This is our weak point. Asmuch as you can without it going bad. Mucuna too.
2) "Canned goods and shotgun shells." Not being entirely flippant there. Depends on where you are and your mindset.
3) Get rid of your credit card debt. Bad debt to a bunch of vampires.
4) The easy part is over. I would invest the rest in cheap rental property. Cheap is a relative term. I don't mean inner city nightmares. Think of where the blue collar renters in your area live. In my area that means trailers, but yours might be apartments or small houses or even duplexes. These entry-level shelters should be stable in most economies. Pay as little down as possible but be sure that it will pay for itself and leave some for you. To do that you will need some help. Get out the phone book and look for "Property Management" companies and make appointments with half a dozen. One of those is going to look after everything for you while you travel or whatever. In return, you get to pick their brains to learn as much as possible. If they act like they have no time for you, blow them off. If they go out of their way to help, make note.

Be aware of the economy of size. Ten mobile homes may not make the numbers work but twenty might. Figure on taking three months to learn. You can do it sooner, but don't rush it.

Also, you might want to read up on reverse mortgages.
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Born in 1953, 1st symptoms and misdiagnosed as essential tremor in 1992. Dx with PD in 2000.
Currently (2011) taking 200/50 Sinemet CR 8 times a day + 10/100 Sinemet 3 times a day. Functional 90% of waking day but fragile. Failure at exercise but still trying. Constantly experimenting. Beta blocker and ACE inhibitor at present. Currently (01/2013) taking ldopa/carbadopa 200/50 CR six times a day + 10/100 form 3 times daily. Functional 90% of day. Update 04/2013: L/C 200/50 8x; Beta Blocker; ACE Inhib; Ginger; Turmeric; Creatine; Magnesium; Potassium. Doing well.
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