John Durham is thinking....

9 replies
Now that I have a partner strong and wise enough to invest our money, rightly... I'd better find it in my ass to create that killer team one more time...

You see my friends, money's purpose is to create more money on its own.

INVEST YOUR MONEY!!!

Wish I'd have known that when I was younger and more fiery...

You weren't designed to create money 24 / 7 for all of your years...You were designed to have creative bursts that (if you are smart) create money, which in turn creates more money on it's own.

Make that million dollars, but dont spend it.

Invest it, and make a couple hundred grand a year for the rest of your life on it's interest, and then peacefully create more for the rest of your life ,without pressure, fueled by the peace of mind that it presents...

I could be making a quarter of a million dollars per year on auto pilot right now, for all the money I've wasted...

Thats my love to you. From a senior Warrior, to an aspiring one.

-JD
#durham #john #thinking
  • Profile picture of the author nmwf
    Why does your name sound so familiar?
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  • Profile picture of the author nmwf
    LOL - I just "found" you via Google. So congrats.
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  • Profile picture of the author Oziboomer
    Originally Posted by John Durham View Post

    You see my friends, money's purpose is to create more money on its own.

    INVEST YOUR MONEY!!!

    Wish I'd have known that when I was younger and more fiery...
    Thanks John,

    One moment in my life that changed the way I thought about investment was an intensive weekend with a now obscure information marketer and retired accountant Damien Parker.

    That discussion about why a person that quits smoking should have $10K after 10 years or the person who always ate generic brands should have saved $67.44 every week...

    ...but fast forward ten years and where's the money???

    Back in the nineties....ok old talk here...

    I learned that you only made a saving if you could quantify that saving and invest it somewhere.

    Damien taught me to negotiate savings and then invest them as if you never made them in the first place.

    Simple...

    No?

    Save $10 and then put it somewhere.

    It is a shame that most people that know these things are not young.

    The advantage of youth and time to invest is a big malaise that inflicts pain on everyone who didn't listen when they should have.

    Your advice should be heeded because the times of "free money" and "easy credit" are ending.

    If you have some spare cash...and are young...observe the cycles....

    ...opportunity awaits.
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    • Profile picture of the author sandalwood
      Originally Posted by Oziboomer View Post

      Thanks John,

      ...but fast forward ten years and where's the money???
      Where did you plan it to be? That's one of the X factors in this thing called investing. Most people don't have a plan. They say they do but they don't.

      But then again not having a plan is a plan, right?

      BTW I'm knee deep in this thing called investing so I can bore you to tears with stories, make that excuses, of why people don't manage their money. Good advice John but the ears of far too many are deaf.
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  • Profile picture of the author Jonwebb
    Yes, we all should invest, even if it's just 100 a month, cash that is invested today, can sustain you for tomorrow.

    I always ask this question, if you had a near fatal stroke, you would recover but working is no longer an option... how would you generate an income??

    My girlfriend, is currently generating about 60 usd annually. Next year that will be about 120ish, year after that about 600. In 5 years from now she will be generating a part time jobs work of income just by waking up in the morning.

    People ask how to get out of the rat race... how about trading in a full time job by the time you are 40?
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  • Profile picture of the author Peter Lessard
    Sometimes I think that those that are self employed and rely on creativity and can greatly influence their income based on their creativity are generally the ones that suffer most from NOT engaging in long term investments or long term planning.

    For me personally doing something like paying off a house in 20 years is completely contrary to how I think. The thought of needing 20 years to actually accomplish something would make me suicidal lol I can't even imagine not being bored to tears after living in the same house for more than 3 years.

    If I get focused on wanting something specific, it doesn't matter what the price tag is my brain just goes into how do I accomplish that goal in a maximum of 6 months.

    Thankfully with the influence of my wife and some good advisers the roller coaster has been smoothed to some hills and valleys ;-)
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  • Profile picture of the author tryinhere
    One of the best books to read and understand is the richest man in Babylon it may take several reads to fully grasp it, even though it is written in a non complicated way.

    Further to reading the book is more so then the application of what you read over a longer term.

    In many ways it is tightly related to what Peter Lessard wrote the other day in will this business model make me money http://www.warriorforum.com/offline-...ou-charge.html in that if people understood that as you travel along in life if you are able to structure how you save / invest your money, the less stress you have on how do I make more, you are then less stressed and able to relax and make better decisions into what comes next.

    all sounds easy, but it is not and probably why so many people battling end up here buying shiny nuggets of hope, the sad thing is if they do find a little rainbow, it usually dissipates into thin air without some solid backing or thought into a little investment, and so like a march fly the life cycle of life starts again.

    The Richest Man in Babylon is mostly a free download these days in PDF format or can be purchased as a hard cover in stores.
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  • Profile picture of the author bizgrower
    I was in the home mortgage business for a while.

    I can think of two prospects or clients who were not spending almost all of their income.
    It did not matter how much they made. Employed or self employed.

    I noted that people are financially naïve but like to think they know what they are doing.
    A little knowledge about getting a good credit score is dangerous.

    The worst example I recall is a self-employed software engineer who bragged about how well
    he can mange money. Yes, he did have a good credit score and income, but his banks still
    owned 90% of his home, cars, and other toys like ATVs. He had no savings whatsoever
    and a couple of teenagers heading to college.

    One of his banks talked him into putting his new Suburban on a third mortgage for the
    mortgage interest tax deduction. (Which, I believe, is not a valid use of that tax break.
    Bank loan officers get - or did then - commissions or bonuses for selling loans.)
    He could have had a 0%, or maybe 2.99%, loan from GM for five years. Instead, he took
    the approximate 1/4% tax deduction to put the Suburban on a 15 year note.

    So, I'd say most people need to admit they don't know what they are doing and just go
    get with a great financial advisor.

    I also think that parents and schools can do a much better at teaching people how to use
    money as the tool it can be.

    Dan
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    "If you think you're the smartest person in the room, then you're probably in the wrong room."

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    • Profile picture of the author Oziboomer
      Originally Posted by bizgrower View Post

      I also think that parents and schools can do a much better at teaching people how to use money as the tool it can be.
      Reminded me about playing Robert Kyosaki's Cashflow game with my kids when they were all little.

      My youngest at the time was six and she had read every card from the game.

      She was playing the game as a nurse if I remember rightly (17 years ago)...

      A few rounds in and she drew a card where she fell pregnant...

      She adamantly said she didn't want to play anymore....

      When questioned on her reasoning she said...

      "I can't win"

      When asked why?

      "The baby is going to need braces in 14 years time"

      She had already foreseen her future from one choice made.

      Now...she went on to getting a part time job at 14 and a half...the youngest age you could legally work here.

      Saving $6K by her 15th birthday.

      Investing in a retirement fund when the Government here was matching dollar for dollar as a co contribution up to $1000.

      Buying a car six months before she was legally able to even start learning...

      ...but renting that car out to her older brother so it was an investment not a liability.

      Now qualified as a medical engineer and still ahead of the game.
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