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Posted on 5/23/19 at 3:39 pm to Rebel12
While millions is cool, you could easily make billions in just a few months with the right leveraged call options. I would focus on any tech stocks that are hot right now. Uber is down since it's IPO. Warren Buffett always says when everyone else is selling it's the time to buy.
Posted on 5/24/19 at 9:36 am to GenesChin
quote:
Why don't you just pay someone to make it their problem?
Yeah I don't get this either honestly. It seems like he has some easy plays and he can afford it to make his life a lot easier. I'm not in his shoes but it seems like there's some moves he has to make and he doesn't want to.
The dentist I go to has one full time and one old part time dentist, 8 chairs for patients though there never seems to be 8 hygienists working, and 2-3 ladies that work the front desk. Seems like working solo would by very risky if you got sick or hurt or something. And personally I'd never work for someone else after owning my own business and having enough money to retire. Worst case be a 51/49 partner even if the other guy makes more.
Hell I feel like you could find another dentist to work 3 days a week with you and both of you work 25-30 hours. Have a dentist on staff for 50 hours most weeks, take a shite time off, and only work 4-5 days a week the 5-6 weeks of the year that the other dentist was on vacation.
If you don't need to make doctor or dentist money, being a professional where the clients come to you is fairly easy to make $100k a year with low hours. You just have to think outside of the box and pay for the help to do it.
This post was edited on 5/24/19 at 9:38 am
Posted on 5/24/19 at 9:43 am to baldona
Here's some helpful advice OP. The real estate market is high right now, so I'm not necessarily saying this is a current play right now but it is certainly a possibility.
But you can get 5% returns on a vacation rental property you pay cash for. 4% certainly and possibly 7% with some patience and the right play. Buy somewhere you like to go in the off season and let it work for you when money can be made. Ski rental in Colorado, beach house somewhere, etc. You go skiing in April and early December, or to the beach in the winter for 2 months and lose no income, write off a trip or two, and diversify out of equities.
But you can get 5% returns on a vacation rental property you pay cash for. 4% certainly and possibly 7% with some patience and the right play. Buy somewhere you like to go in the off season and let it work for you when money can be made. Ski rental in Colorado, beach house somewhere, etc. You go skiing in April and early December, or to the beach in the winter for 2 months and lose no income, write off a trip or two, and diversify out of equities.
This post was edited on 5/24/19 at 9:43 am
Posted on 5/25/19 at 2:29 am to Rebel12
quote:
Frankly, I am just tired of fighting insurance and dealing with the daily issues of a dental office.
Billy Cannon's spot at Angola may still be open.
Posted on 5/27/19 at 11:21 am to Rebel12
I’m older, poorer, and burned out.
Guess I’ll work some more.
Guess I’ll work some more.
Posted on 5/27/19 at 7:15 pm to Rebel12
quote:
Top flight,
What are you saying never happened?
That you made $4 million.
If you had $4 million your arse wouldn't be on here looking for simplistic investing advice.
Posted on 5/27/19 at 7:25 pm to TopFlightSecurity
Top flight,
It really isn’t that hard to save 4 million if you have enough time and discipline. I asked for some advice here because there are several knowledgeable posters with good ideas. I have learned a lot of information from this thread. Since nobody here has any incentive to sell me something, I have learned about a wide array of different products. Go to your broker and you will only hear about what makes them money. I didn’t come here to brag or spread any lies. I simply was looking for good ideas.
It really isn’t that hard to save 4 million if you have enough time and discipline. I asked for some advice here because there are several knowledgeable posters with good ideas. I have learned a lot of information from this thread. Since nobody here has any incentive to sell me something, I have learned about a wide array of different products. Go to your broker and you will only hear about what makes them money. I didn’t come here to brag or spread any lies. I simply was looking for good ideas.
Posted on 5/27/19 at 10:01 pm to Rebel12
You saved 4 million in around 18 years. While raising two kids and paying off dental school debt. Not exactly easy for most unless you had a nice inheritance at some point. With no inheritance you would have to make what...400-500k a year? That would make you a 1%er I believe.
This post was edited on 5/27/19 at 10:25 pm
Posted on 5/28/19 at 7:17 am to Eric Nies Grind Time
Eric,
As I said earlier, I firmly believe most people can save a lot more than they have by keeping their overhead low. I have never had a net income over 350k, but I never got caught up in the race to keep up with others. I was very fortunate to marry a woman who also doesn’t care about trying to impress people with material things. What most people don’t understand is that huge houses and luxury cars have unbelievable annual costs that really impede your ability to save. Also, I did not receive any type of inheritance.
I have orthopedic friends who make twice what I do, but they have a fourth of what I have in the bank. You can probably guess what type of house they have and what types of cars they have. One doctor friend recently bought his 16 yr old daughter a 100k Range Rover. Those type of decisions lead to low cash on hand.
As I said earlier, I firmly believe most people can save a lot more than they have by keeping their overhead low. I have never had a net income over 350k, but I never got caught up in the race to keep up with others. I was very fortunate to marry a woman who also doesn’t care about trying to impress people with material things. What most people don’t understand is that huge houses and luxury cars have unbelievable annual costs that really impede your ability to save. Also, I did not receive any type of inheritance.
I have orthopedic friends who make twice what I do, but they have a fourth of what I have in the bank. You can probably guess what type of house they have and what types of cars they have. One doctor friend recently bought his 16 yr old daughter a 100k Range Rover. Those type of decisions lead to low cash on hand.
Posted on 5/30/19 at 5:55 am to Rebel12
quote:
Top flight,
It really isn’t that hard to save 4 million if you have enough time and discipline. I asked for some advice here because there are several knowledgeable posters with good ideas. I have learned a lot of information from this thread. Since nobody here has any incentive to sell me something, I have learned about a wide array of different products. Go to your broker and you will only hear about what makes them money. I didn’t come here to brag or spread any lies. I simply was looking for good ideas
Rebel - You seem sincere, I will take off my OT jaded glasses and wish you nothing but the best. Congrats on the incredible discipline it took to accumulate that type of wealth.
My wife is a nurse and it always amazed me how many Doctors she knew living paycheck to paycheck. The Benzes and big houses add up quick.
Posted on 5/30/19 at 3:33 pm to TopFlightSecurity
quote:
The Benzes and big houses add up quick.
It's ok to have the Benz and the big home. It's the ex-wife's spending habits, followed by alimony, followed by new wife's spending habits that gets the guys in such a bind. Both my CPA and my investment adviser have told me that they've had to have "come to Jesus" meetings with Docs and their wives regarding money. Well, really with the wives as the Docs sat and said nothing.
Posted on 5/31/19 at 8:28 am to Rebel12
build you a 4 million dollar munibond portfolio, work a 4 more years buy you a nice house on a lake somewhere and live off the tax exempt interest. Maybe a buy you a boat and you can guide fishing trips once a week or something.
This post was edited on 5/31/19 at 8:31 am
Posted on 5/31/19 at 12:41 pm to Rebel12
quote:
Frankly, I am just tired of fighting insurance and dealing with the daily issues of a dental office.
Stop taking insurance then. Your clientele will shift.
Posted on 5/31/19 at 2:45 pm to TheBoo
quote:
Stop taking insurance then. Your clientele will shift.
Absolutely this.
I bet if a dentist in a even moderate sized municipality offered "cash payment only" services with actual Posted rates their business would be more than enough.
My dentist has a plan that's something like $380/ year cash only. Its two cleanings and xrays a year, plus 10% off any "major" work, and a couple of other minor things.
The bullshite thing about it though is he has had it for two years and I pay cash and its like $280/ year. So he makes over $100/ year extra to "self insure" people for the additional work.
Posted on 6/2/19 at 9:31 am to Rebel12
quote:
suggestions regarding a steady 5% return with low risk. Finally, no I am not full of shiite, I was just looking for any ideas.
I'm buying timberland. But only if at a good price. Patiently buying up when I can here and there. Is it going to produce stellar returns? No. It can, but those are few and far between around here. Need a good timber manager to help guide you. Wouldn't go all in on it, but definitely worth a chunk. And if you enjoy the outdoors, you can get additional recreational enjoyment from it. Unfortunately, you can't just buy when you want. Have to be patient and get a good price and be in a position to cut when prices are up instead of having to cut to pay bills.
I'm no expert and would enjoy additional input/advice from those more experience in timber investing/land management.
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