Comments on: building wealth in an age of thieves http://www.bripblap.com/building-wealth-in-an-age-of-thieves/ thoughtful personal finance, career and health advice Sun, 05 Feb 2012 07:46:58 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: The Building Insurancer http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-27404 The Building Insurancer Thu, 12 Mar 2009 12:51:51 +0000 http://www.bripblap.com/?p=570#comment-27404 "Yet at the same time, the basic principles remain: invest in index funds. Live below your means. Save until you have an adequate emergency fund. Make sure your insurance (!!) is adequate and up-to-date. Eat, drink and be happy." - i should always keep this in mind. I'm living above my means and it's hurting my finances. “Yet at the same time, the basic principles remain: invest in index funds. Live below your means. Save until you have an adequate emergency fund. Make sure your insurance (!!) is adequate and up-to-date. Eat, drink and be happy.” – i should always keep this in mind. I'm living above my means and it's hurting my finances.

]]> By: Lucinda http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-26711 Lucinda Wed, 10 Dec 2008 23:41:58 +0000 http://www.bripblap.com/?p=570#comment-26711 I started buying antiques at house sales, reselling them for at least double what I paid, then reinvesting the profits in higher quality items. As long as I keep compounding my money, I'll surpass what my broker ever did for me. There's a guy in Northfield, Illinois - a dealer/collector of 45 years who will teach and help anyone who wants to learn. He's at <a href="http://www.31corp.com" rel="nofollow">http://www.31corp.com</a>. I started buying antiques at house sales, reselling them for at least double what I paid, then reinvesting the profits in higher quality items. As long as I keep compounding my money, I'll surpass what my broker ever did for me. There's a guy in Northfield, Illinois – a dealer/collector of 45 years who will teach and help anyone who wants to learn. He's at http://www.31corp.com.

]]> By: fathersez http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-25756 fathersez Tue, 23 Sep 2008 12:38:31 +0000 http://www.bripblap.com/?p=570#comment-25756 The age of thieves! Well said. Now only if these guys were treated as thieves, then maybe the next generation may not be that susceptible to thievery. The age of thieves! Well said. Now only if these guys were treated as thieves, then maybe the next generation may not be that susceptible to thievery.

]]> By: lisa http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-25749 lisa Tue, 23 Sep 2008 00:10:39 +0000 http://www.bripblap.com/?p=570#comment-25749 the AIG building also looks like it was made of cards.not very steady or strong. Wish I'd noticed that before! the AIG building also looks like it was made of cards.not very steady or strong. Wish I'd noticed that before!

]]> By: smartenup http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-25691 smartenup Thu, 18 Sep 2008 05:11:21 +0000 http://www.bripblap.com/?p=570#comment-25691 Surely, you must be crazy?<br><br>An insane person is someone who keeps doing the same thing (investing in the stock market) and expecting the same result (becoming wealthy) only it never works out that way. Yet, they keep right on doing it.<br><br>Wall Street is corrupt. Always was and always will be. No politician is going to change it. Not in 1987. Not in 2001 and not in 2008.<br><br>You'd be better off investing your money with drug dealers or art thieves.<br><br>Eventually one day, after you've lost your shirt, you'll get over it. Notice that the windows on the AIG building are mirrors?<br><br>Here's looking at you, kid. Surely, you must be crazy?

An insane person is someone who keeps doing the same thing (investing in the stock market) and expecting the same result (becoming wealthy) only it never works out that way. Yet, they keep right on doing it.

Wall Street is corrupt. Always was and always will be. No politician is going to change it. Not in 1987. Not in 2001 and not in 2008.

You'd be better off investing your money with drug dealers or art thieves.

Eventually one day, after you've lost your shirt, you'll get over it. Notice that the windows on the AIG building are mirrors?

Here's looking at you, kid.

]]> By: plonkee http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-25689 plonkee Wed, 17 Sep 2008 20:07:23 +0000 http://www.bripblap.com/?p=570#comment-25689 If you're close to retirement, and have all your money invested shouldn't you have moved much of it over to safer investments by now?<br><br>Part of the thing here is that I'm so far away from retirement now, that other than the basics (move to safer investments) I'm not sure that I've actually got a feel for how you manage your move into retirement. Hopefully that'll be something for the personal finance community of the future to talk about. If you're close to retirement, and have all your money invested shouldn't you have moved much of it over to safer investments by now?

Part of the thing here is that I'm so far away from retirement now, that other than the basics (move to safer investments) I'm not sure that I've actually got a feel for how you manage your move into retirement. Hopefully that'll be something for the personal finance community of the future to talk about.

]]> By: deepali http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-25688 deepali Wed, 17 Sep 2008 16:21:10 +0000 http://www.bripblap.com/?p=570#comment-25688 I'm going for that last line. There is no stock market where I'm moving to. :) I'm going for that last line. There is no stock market where I'm moving to. :)

]]> By: Craig Kessler http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-25687 Craig Kessler Wed, 17 Sep 2008 16:05:08 +0000 http://www.bripblap.com/?p=570#comment-25687 Sadly it seems that there is little we can do. A lot of these stable institutions are losing money and taking because of it a lot of investing confidence is being taken away. <br /><br />Craig<br /><a href="https://www.budgetpulse.com/" rel="nofollow">www.budgetpulse.com</a> Sadly it seems that there is little we can do. A lot of these stable institutions are losing money and taking because of it a lot of investing confidence is being taken away.

Craig
http://www.budgetpulse.com

]]> By: bripblap http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-25685 bripblap Wed, 17 Sep 2008 15:31:11 +0000 http://www.bripblap.com/?p=570#comment-25685 Plonkee, I guess I'd say that index funds at least broaden your risk across multiple industries and (in my case, investing in a lot of international index funds) across countries. Investing in an individual stock concentrates your risk dramatically.<br><br>I think everything SHOULD be fine long term but it's hardly assured. I can be sanguine since I'm still at least a few years away from retirement, but I feel bad for someone here in the US who has no pension and was counting on cashing in their IRA/401(k)s to retire in the next year or two. We'll see, I guess... Plonkee, I guess I'd say that index funds at least broaden your risk across multiple industries and (in my case, investing in a lot of international index funds) across countries. Investing in an individual stock concentrates your risk dramatically.

I think everything SHOULD be fine long term but it's hardly assured. I can be sanguine since I'm still at least a few years away from retirement, but I feel bad for someone here in the US who has no pension and was counting on cashing in their IRA/401(k)s to retire in the next year or two. We'll see, I guess…

]]> By: Moneymonk http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-25684 Moneymonk Wed, 17 Sep 2008 14:07:18 +0000 http://www.bripblap.com/?p=570#comment-25684 The last statement will never change. Stick to it.<br /><br />Stop chasing high returns<br /><br />Be the Tortuise and not the hare The last statement will never change. Stick to it.

Stop chasing high returns

Be the Tortuise and not the hare

]]> By: Chad @ Sentient Money http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-25681 Chad @ Sentient Money Wed, 17 Sep 2008 11:49:07 +0000 http://www.bripblap.com/?p=570#comment-25681 Unfortunately, it is tantamunt to theivery. All these bailouts are prolonging this downturn.<br /><br />@Emily<br />We can continually contact our congressmen and vote for slightly smarter people...just a little might be enough. Unfortunately, it is tantamunt to theivery. All these bailouts are prolonging this downturn.

@Emily
We can continually contact our congressmen and vote for slightly smarter people…just a little might be enough.

]]> By: Emily http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-25680 Emily Wed, 17 Sep 2008 11:31:39 +0000 http://www.bripblap.com/?p=570#comment-25680 That last paragraph sums it all up. At the end of the day, what more can you do? That last paragraph sums it all up. At the end of the day, what more can you do?

]]> By: plonkee http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-25679 plonkee Wed, 17 Sep 2008 10:17:04 +0000 http://www.bripblap.com/?p=570#comment-25679 You can't have it both ways. Index funds are invested in shares. It's either a good idea to do that, or it's not.<br><br>The problem with both real estate and a business is that they have a lot of risk attached - on a small scale, they aren't normally diversified.<br><br>In the long run, everything will be fine. I mean at least the US economy is relatively diverse, the British economy is strongly weighted towards financial services so we're scuppered. You can't have it both ways. Index funds are invested in shares. It's either a good idea to do that, or it's not.

The problem with both real estate and a business is that they have a lot of risk attached – on a small scale, they aren't normally diversified.

In the long run, everything will be fine. I mean at least the US economy is relatively diverse, the British economy is strongly weighted towards financial services so we're scuppered.

]]> By: Curmudgeon http://www.bripblap.com/building-wealth-in-an-age-of-thieves/comment-page-1/#comment-25678 Curmudgeon Wed, 17 Sep 2008 10:17:00 +0000 http://www.bripblap.com/?p=570#comment-25678 >>the old paradigm of “just invest in the market and ride the ups and downs” may not be applicable anymore . . .<br><br>Sadly, you may be right, Steve. >>the old paradigm of “just invest in the market and ride the ups and downs” may not be applicable anymore . . .

Sadly, you may be right, Steve.

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