Financial planning
MayorofMonkeytown
Regular
People here seem to have a very ad hoc financial planning situation and most advice seems to be centred around buying some sort of random item that will surely lead to you personally surviving the imminent collapse of society.
Except society hasnt collapsed yet and controlling assets is a great way to be on the fun side of things when the shit does hit the fan.
The biggest block that people have in my past experience is that they are not psychologically prepared to have money. They've never had it before. They dont like people who do have it. Money is the root of all evil.
If you think that; good luck.
If you realise money is a tool like any other and can be used in many ways to achieve various things; you dont need good luck - you'll do fine.
Theres not much scope to discuss complicated investment schemes, risk management or running businesses here so I thought i'd ask if anyone actually has a coohearant financial literacy and strategy?
The best thing to start from scratch with would be the "pay yourself first" concept; it outlines basic planning principles.
Except society hasnt collapsed yet and controlling assets is a great way to be on the fun side of things when the shit does hit the fan.
The biggest block that people have in my past experience is that they are not psychologically prepared to have money. They've never had it before. They dont like people who do have it. Money is the root of all evil.
If you think that; good luck.
If you realise money is a tool like any other and can be used in many ways to achieve various things; you dont need good luck - you'll do fine.
Theres not much scope to discuss complicated investment schemes, risk management or running businesses here so I thought i'd ask if anyone actually has a coohearant financial literacy and strategy?
The best thing to start from scratch with would be the "pay yourself first" concept; it outlines basic planning principles.
This discussion has been closed.
Comments
It is an instrument like any other and it can be used to help or hurt yourself and others.
Well its a big topic and there is no secret magical plan that suits all circumstances. I for one am not adverse to risk and I have some high growth (read: high risk) strategies - other people might have the balanced 25% wealth gameplan.
I offered some advice for beginners
But because the average age of this board is at least above 20 i figured that people would probably have some sort of a general concept around how they manage their business.
And then there is little financial strategy discussed at all. I'm not expecting anyone to drop their banking details but as a general financial planning thread nobody ever elaborates if they are starting from scratch or already own productive assets or whatever.
People talking about societal collapase and not being able to eat gold.
Great thread. 10/10.
Heres my advice, invest in shovels! Glorious dirt digging shovels! That way when we all go back to being peasants tilling the fields you wont have to use a rock tied to a stick!!
And I disagree; and such disparaging remarks should frankly earn yourself an infraction.
I dont doubt i wont be missed from money money money because it is a wasteland where any attempts to actually talk about money there unless its a 'derp i got none' thread dont seem to take off very well.
I've made stock market threads, tax minimisation threads and other attempts as well as this thread where I ask if anyone has a financial literacy and wealth planning strategy that fairly quickly derailed into exactly the sort of BUY SHOVELS, WW3 ANY DAY NOW failure I sadly anticipated.
and then this.
Are you trolling yourself? If you do have useful finical information please post it. I know for a fact that there are people here that are self employed and any advice or help would be great, and appreciated.
I trolled myself by thinking anyone on totse would be able to talk about money.
Im going back to the hot copper forums for that.
And useful financial information is what? Its a complicated topic. I opened this thread asking if people have any strategies or plans - including a link to a very basic (very popular) financial planning starting strategy.
Ten posts later and its the same doomsday bullshit.
Every week i'll change my holdings, without any sense of the portfolio weighting knowing what they are isnt even useful information for other people to be derived from that.
Im also paying far far less in trade transactions costs then most people will manage to get a deal on as well - if you tried to chase daily positions with standard retail investor brokerage you'd be fucked.
I've talked about tax; i've talked about setting up a bank account in singapore, gold, margin loans and all sorts of shit. I wont be wasting my time anymore, ya'll can DYOR.