Subject: millionaire in the making Thu 05 Nov 2009, 12:31 am
I found this intriguing. It's basically about a 14 year old who has a stock porfolio.
I found this video very relevant to the hip hop culture because we spend so much on getting the right gear, why don't we own a piece of the company we give so much money to?
Guest Guest
Subject: Re: millionaire in the making Thu 05 Nov 2009, 11:14 am
No one teaches us that and no one leads by example to pave the way for that in the poor/lowermiddleclass sections.
TheHazardous Smells Like Roses...
Posts : 3500 Join date : 2009-05-28 Age : 42 Location : Bankhead SHAWTY and we'll take yo COOKIE!
Subject: Re: millionaire in the making Thu 05 Nov 2009, 1:43 pm
You learn your spending habits from your parents and your peers so teach your children well.
Guest Guest
Subject: Re: millionaire in the making Thu 05 Nov 2009, 4:42 pm
poor people have no money to invest
TheHazardous Smells Like Roses...
Posts : 3500 Join date : 2009-05-28 Age : 42 Location : Bankhead SHAWTY and we'll take yo COOKIE!
Subject: Re: millionaire in the making Thu 05 Nov 2009, 5:34 pm
That's not totally true Jeru. It's how they prioritize their funds. A lot of people are poor because they're living beyond their means creating unnecessary debt. The first thing anyone must do is budget. How much do you need to take of your bills. If the answer is if you're not making enough then you need another job or to trim the fat. If you have cable and you're in the red then your priorities are backwards.
I see folks everyday with a bunch of children and pregnant with baby daddy's that don't pay for shit but they still fucking them. Why because they make decisions based off emotion instead of cognitive preparation.
If the dog bit the first time then why go back? My conclusion you must be slow or like being bit. No one gets to betray twice.
People need reassess their priorities so they can prosper and eliminate self-destructive habits to be successful.
Guest Guest
Subject: Re: millionaire in the making Thu 05 Nov 2009, 6:28 pm
I understand all that - but I see some teenage kid who somehow has enough disposable income to dress fashionably and invest in a stock portfolio.
That's just not the situation for the truly disadvantaged and for the most part even if they did prioritise the would be breaking even just about.
I mean it'd be great if they could set aside for college and retirement and healthcare, etc. etc. etc. - but you can't budget what you don't have.
TheHazardous Smells Like Roses...
Posts : 3500 Join date : 2009-05-28 Age : 42 Location : Bankhead SHAWTY and we'll take yo COOKIE!
Subject: Re: millionaire in the making Fri 06 Nov 2009, 12:37 pm
On that note, I would again say that the best determining factor on this is your parents. Lil Dude mother said she was in dire straits before she taught herself how to invest.
"you can't budget what you don't have." This is true. But if you don't have it then you should be asking yourself how do you get it? You either spend less or figure out how to get more. I think people get comfortable in their state of being and forget they can have more. It is easier to do what you are used to.
If you don't know how to do something then seek out someone who is willing to show you how. There is almost always someone willing somewhere.
Guest Guest
Subject: Re: millionaire in the making Fri 06 Nov 2009, 11:30 pm
TheHazardous wrote:
On that note, I would again say that the best determining factor on this is your parents. Lil Dude mother said she was in dire straits before she taught herself how to invest.
"you can't budget what you don't have." This is true. But if you don't have it then you should be asking yourself how do you get it? You either spend less or figure out how to get more. I think people get comfortable in their state of being and forget they can have more. It is easier to do what you are used to.
If you don't know how to do something then seek out someone who is willing to show you how. There is almost always someone willing somewhere.
Cosign. Btw, a share of Nike goes for around $64.00 these days. Instead of spending that on a pair of $175.00 Jordans, how about taking that money and putting it into a stock. Over time, you can dress how you like and live how you want. That video inspired me to look into some stock options in the brands that a lot of us shop for. Why not own some stock in Timberland, Nike, Coach or whatever brand we like to buy?
Dang! Trotter Banned From Amazon
Posts : 2589 Join date : 2009-05-06 Location : Between a rock and hard place
Subject: Re: millionaire in the making Sat 07 Nov 2009, 7:58 pm
Someone said the spending power of Blacks in this country alone equals the 14th wealthiest country in the world. Poor and underclass in this country differs in other countries. I admit, when Blacks were ass-poor back in the right-after-slavery days our morals and spending habits were far better.
Me,Im the type to spend all my money on a trip to Brazil (Like I did in2007) . I might comeback broke but fuck it, I had fun and got pictures.
TheHazardous Smells Like Roses...
Posts : 3500 Join date : 2009-05-28 Age : 42 Location : Bankhead SHAWTY and we'll take yo COOKIE!
Subject: Re: millionaire in the making Sat 07 Nov 2009, 9:46 pm
You have to break the habit. Why not do both?
Find out in advance where you are going and search for deals.
Crazy deal I got regarding travel, a round trip would be like $400, found a deal for $300 plus a car rental. The $300 included the car rental. How the fuck did that math work? I'm baffled to this day on how I paid less and got a car in the process for my trip. DITC doesn't just apply to records & CDs people.
Shaun I'm Ghetto Platinum
Posts : 10096 Join date : 2009-05-06 Age : 33 Location : Eardrum>>>>>>>>>>>>>>>>Quality
Subject: Re: millionaire in the making Sat 07 Nov 2009, 10:07 pm
"DITC doesn't just apply to records & CDs people."
Statement of the year.
Guest Guest
Subject: Re: millionaire in the making Mon 09 Nov 2009, 6:28 am
Shaun wrote:
"DITC doesn't just apply to records & CDs people."
Statement of the year.
Cosign Shaun. How do you find good deals on travel packages Hazardous? The last trip I went on cost me about the $400.00, but I had to DRIVE across the country. Plus it was stressful being that it was for a funeral. The money was mainly for gas, and the hotel was about $156.00 (or something like that). I want to focus on having fun instead of stressing about making sure I could get back home in the time allotted from my job.
D.Powell NYC's Finest
Posts : 7631 Join date : 2009-05-11 Age : 104 Location : the back of a barn
Subject: Re: millionaire in the making Mon 09 Nov 2009, 9:35 am
TheHazardous wrote:
You learn your spending habits from your parents and your peers so teach your children well.
CO-SIGN...this is where "poverty" starts at..right in your own home and mentality...you truly do learn EVERYTHING from your parents and genetic code..lol..real talk!