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Message
Sometimes I find this board lacking in depth and new topics (warning-rant)
Posted on 5/16/13 at 5:18 pm
Posted on 5/16/13 at 5:18 pm
I blame myself as much as anyone else.
I really feel there is a lack of interesting topics and depth here. It might be because I spend so much time reading the threads, not sure. I wish we would share some other ways we passively make money. As much as I enjoy reading about a roth IRA for the 100th time or someone asking about the stock market, it just gets mundane.
Since I am the one bitching, I'll start.
Although RE is my biggest holding, it isn't my biggest passive income generator. I'm partial owner of an ice business that has been a success and just gets better every year. My initial investment of 15K has netted me about 30k a year that just gets rolled back into expanding the business.
High school kids lurking - mow some damn grass. If you aren't afraid to get dirty and have a push mower, you can easily make $200 a weekend. Imagine the beer and gas money that could get you.
In college I made a killing (relative) flipping stuff on craigslist. I would by just about anything I could get a deal on and resell it for a profit. There is no reason why some of you younger guys can't be doing this on a consistent basis. I made over 1k - 2k a month doing this. Averaged about an hour a day looking for deals and setting up meetings to buy and sell.
I've got a great paying job right now that I worked my arse off to get. But you know what? I work my arse off at my job every day. I don't know about you but I am not going to do this for 30 more years. If you want true wealth and freedom, it is important for you to start developing your own avenues of passive income.
So PLEASE PLEASE PLEASE, discuss some of your ideas here. Let's brainstorm, get some new topics and hopefully help each other reach some of our goals.
I really feel there is a lack of interesting topics and depth here. It might be because I spend so much time reading the threads, not sure. I wish we would share some other ways we passively make money. As much as I enjoy reading about a roth IRA for the 100th time or someone asking about the stock market, it just gets mundane.
Since I am the one bitching, I'll start.
Although RE is my biggest holding, it isn't my biggest passive income generator. I'm partial owner of an ice business that has been a success and just gets better every year. My initial investment of 15K has netted me about 30k a year that just gets rolled back into expanding the business.
High school kids lurking - mow some damn grass. If you aren't afraid to get dirty and have a push mower, you can easily make $200 a weekend. Imagine the beer and gas money that could get you.
In college I made a killing (relative) flipping stuff on craigslist. I would by just about anything I could get a deal on and resell it for a profit. There is no reason why some of you younger guys can't be doing this on a consistent basis. I made over 1k - 2k a month doing this. Averaged about an hour a day looking for deals and setting up meetings to buy and sell.
I've got a great paying job right now that I worked my arse off to get. But you know what? I work my arse off at my job every day. I don't know about you but I am not going to do this for 30 more years. If you want true wealth and freedom, it is important for you to start developing your own avenues of passive income.
So PLEASE PLEASE PLEASE, discuss some of your ideas here. Let's brainstorm, get some new topics and hopefully help each other reach some of our goals.
10
Posted on 5/16/13 at 5:24 pm to I Love Bama
Nice. Manual labor is great work for a hs/college guy.
I've thought about buying one of those ice machines before too. Have you talked about it on here before?
I've thought about buying one of those ice machines before too. Have you talked about it on here before?
Posted on 5/16/13 at 5:28 pm to jimbeam
Yea - almost didn't mention it because I enjoy my relative anonymity on here. But I figured if I want some of you guys to share I need to share as well. They aren't just plug and play but the amount of work I have to do with them isn't much. I hope to continue to expand that business while finding other revenue streams.
Posted on 5/16/13 at 5:32 pm to I Love Bama
I agree that things seem to be getting stale, maybe because I have been reading the board for a few years and there are only so many things that can be discussed (especially if you don't find bitcoins to be captivating).
Plus after the board helped me figure out the final pieces of my financial planning puzzle, my financial life has been on cruise control.
But I will also try to come up with some fresh and relevant discussion topics.
Plus after the board helped me figure out the final pieces of my financial planning puzzle, my financial life has been on cruise control.
But I will also try to come up with some fresh and relevant discussion topics.
Posted on 5/16/13 at 5:34 pm to Bayou Tiger
quote:
I agree that things seem to be getting stale, maybe because I have been reading the board for a few years and there are only so many things that can be discussed (especially if you don't find bitcoins to be captivating).
Since this is the money board, it can be useful to bring topics that involve the spending of money (like travel) topics here as one post did today. A lot better than what the OT will give you on the subject some times.
A lot of information about these topics are readily available outside this forum which is probably the main issue, so there probably needs to be more "personal" stories such as Bama's ice machines to generate more diverse topics.
I try to be open about my student debt load and how to effectively take advantage of the options available with that when the subject comes up. Also, I had a the experience of tapping my emergency fund that was within my Roth for a finger surgery this year. A topic and method that has been discussed here (with some healthy disagreement).
My big thing right now is maximizing credit card usage to get the best awards for doing what I do normally as seen in my posts under the Blue Sky Amex thread. I juggle a lot of shite.
This post was edited on 5/16/13 at 5:38 pm
Posted on 5/16/13 at 5:35 pm to Bayou Tiger
Maybe this board can start a beginners guide to topics that we discuss and sticky it with additional readings for more information
Explain what different type of technical terms and ideas are.
Then also, have a monthly stock update thread that discusses serious changes in stocks so we don't have a million of the same stock price changes.
Explain what different type of technical terms and ideas are.
Then also, have a monthly stock update thread that discusses serious changes in stocks so we don't have a million of the same stock price changes.
Posted on 5/16/13 at 5:44 pm to GenesChin
Great ideas
Posted on 5/16/13 at 5:49 pm to GenesChin
Since I am only a year out of college a lot of the retirement account info has been great.
Also HSA, insurance of any kind, loans, etc. info has been fantastic and I feel like I am know a lot more than I did this time last year so I consider that a success so thank you MB.
the next topics that I need to get more familiar with need to be taxes and diversifying outside of tax free accounts.
Also HSA, insurance of any kind, loans, etc. info has been fantastic and I feel like I am know a lot more than I did this time last year so I consider that a success so thank you MB.
the next topics that I need to get more familiar with need to be taxes and diversifying outside of tax free accounts.
Posted on 5/16/13 at 5:50 pm to I Love Bama
Seriously, great post.
However,
Let's see...
No.
However,
quote:
I work my arse off at my job every day.
Let's see...
quote:
26943 posts
No.
Posted on 5/16/13 at 5:53 pm to I Love Bama
Kind of feel the same way, but this board should probably be geared towards helping out the common man in personal finances. Bitcoins have gotten way out of control though.
Posted on 5/16/13 at 5:54 pm to I Love Bama
CFA is cutting in for a lot of us. Also, the best threads usually die, unfortunately. I thought this was the last great thread we had.
Posted on 5/17/13 at 1:24 am to I Love Bama
quote:
High school kids lurking - mow some damn grass. If you aren't afraid to get dirty and have a push mower, you can easily make $200 a weekend. Imagine the beer and gas money that could get you.
I cut grass just in my own subdivision and it maxes my Roth each year. Easy money.
Posted on 5/17/13 at 8:10 am to I Love Bama
What were you flipping on craigslist to make that kind of return each month?
Posted on 5/17/13 at 8:28 am to Venelar
quote:
I cut grass just in my own subdivision and it maxes my Roth each year. Easy money.
Do you have a regular group of yards? How many? What do you charge?
Posted on 5/17/13 at 8:47 am to Sigma
Yep. I have 8 in here I cut weekly. Depending on the trimming it's $35-40 a cut. I currently work for our small family business so I'm flexible with my time.. I generally get off at lunch on Friday and start cutting. Get them all in by dark. Doing it as a side job does suck though when it rains, having to catch them up on other days makes it tough. Still worth it though.
Posted on 5/17/13 at 9:03 am to Venelar
I think the board is relatively stale because there are very few outlier opinions. That is not necessarily a bad thing though. Every thread I go to I usually agree with the responses. It makes sense because most educated, trustworthy finance guys should give you relatively the same advice.
Just my $.02.
Just my $.02.
Posted on 5/17/13 at 9:40 am to I Love Bama
quote:
I really feel there is a lack of interesting topics and depth here. It might be because I spend so much time reading the threads, not sure. I wish we would share some other ways we passively make money. As much as I enjoy reading about a roth IRA for the 100th time or someone asking about the stock market, it just gets mundane.
I can work with this, as it somewhat emphasizes building a wiki, or another form of collaboration of common topics. With reference to this LINK, we have some interest intact for grouping common topics together so we can make room for new discussions. Oddly enough, the common topics that reappear from time to time are the ones that makes this board so important to my daily reading, as well as others. I know I can come to the MT and understand the discussion that I am reading, as it applicable to me, and it is welcoming to beginners and experts.
If you want to push forward on increasing the interesting topics, make it a point to start a new topic each week that deviates from what you have been reading. You may be tired of reading about Roth IRAs, but why don't you start a thread that doesn't focus on fund allocation, or how much to put into the retirement account, but more so, how to earn money to invest in retirement. You have pointed out two good ways:
quote:
mow some damn grass.
quote:
I made a killing (relative) flipping stuff on craigslist.
I think these two previous points deserve a thread of their own, to gather interest and inform the readers on the steps they must take to become successful at side jobs. Otherwise we will continue to talk about Roth IRAs and the stock market as most people will just scan the first page before going to a different site.
quote:
I'm partial owner of an ice business that has been a success and just gets better every year.
I find this extremely interesting, as I am at a point where I need to make my money work for me. Should I buy land and plant pines? Should I open up a personal investing account? Should I buy rentals? Please tell me more about your ice business experience. I would like to know how did you get in the ice business? Is there another business that you are interested in similar to this that you are planning to make the move to?
Posted on 5/17/13 at 10:00 am to I Love Bama
quote:
High school kids lurking - mow some damn grass. If you aren't afraid to get dirty and have a push mower, you can easily make $200 a weekend. Imagine the beer and gas money that could get you.
So high school kids should buy beer and drive?
Posted on 5/17/13 at 10:16 am to sneakytiger
quote:
What were you flipping on craigslist to make that kind of return each month?
Here in Nashville I was flipping music gear when I first moved here. Averaged about 2k month but actually had a 4k weekend once.
Posted on 5/17/13 at 10:49 am to I Love Bama
quote:
In college I made a killing (relative) flipping stuff on craigslist. I would by just about anything I could get a deal on and resell it for a profit. There is no reason why some of you younger guys can't be doing this on a consistent basis. I made over 1k - 2k a month doing this. Averaged about an hour a day looking for deals and setting up meetings to buy and sell.
If you're not embarrassed, dumbster diving at apts near a college campus at the end of the semester. You'd be surprised at the shite students throw away because they can't fit everything in their car (or they live out of state and go home for the summer). I've seen perfectly good furniture, electronics like computers and tvs, etc.
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