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How to make your money grow?

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Shellfish
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How to make your money grow?

Postby Shellfish » Tue, 02 Jan 2007 3:09 pm

What are the Steps/Planning to make in making the full use of your money for a better future? What are your advice besides save save save !

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ksl
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Re: How to make your money grow?

Postby ksl » Tue, 02 Jan 2007 3:20 pm

Shellfish wrote:What are the Steps/Planning to make in making the full use of your money for a better future? What are your advice besides save save save !


Gain more assets and control your liabilities! How you do it, is up to you, however the goal post's are quite wide a part, just go for it, with a good sense of control.

The quickest way to lose it, is to get married! :D

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Re: How to make your money grow?

Postby renter » Fri, 05 Jan 2007 2:34 pm

Shellfish wrote:What are the Steps/Planning to make in making the full use of your money for a better future? What are your advice besides save save save !


if you believe me, and if you belong to the middle income working class, you already know your answer: save. It is not as fashionable as the word "invest", but it is still the way for majority of people.

You can directly ask your financial advisors who are trying to sell you all kinds of investment vehicles: how many millionaires out there became rich by investing their salaries?

ksl: actually marriage is also the fastest way to gain a lot of money.

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Re: How to make your money grow?

Postby ksl » Sat, 06 Jan 2007 3:11 am

renter wrote:
Shellfish wrote:What are the Steps/Planning to make in making the full use of your money for a better future? What are your advice besides save save save !


if you believe me, and if you belong to the middle income working class, you already know your answer: save. It is not as fashionable as the word "invest", but it is still the way for majority of people.

You can directly ask your financial advisors who are trying to sell you all kinds of investment vehicles: how many millionaires out there became rich by investing their salaries?

ksl: actually marriage is also the fastest way to gain a lot of money.


I'm glad you mentioned that! It's one thing i have been trying to explain to my son, why he, wastes his time on bimbo's with no other vision, than breeding like wild rabbits for the monthly hand out, i'll never know, he calls it love, i call it brains in the dick syndrome. utterly backward, and stupid(must be his mothers genes, certainly not mine) At least now he is hitched, with a degree holder, but that is not enough!

One must have self motivation to succeed, unfortunately I don't yet see that spark in my son, although i have not given up hope.

After my costly first marriage, i made a pact with myself, that i would never fall victim again, although I had the same syndrome has my son, when i was his age.

I never wanted to marry or get engaged, because i knew, that i would never look after them, I wasn't emotionally ready or financially willing.

Maybe i get flamed for being so frank, although i'm long past caring. I've been up and down the social ladder a couple of times in the UK, and even have friends in the lords & ladies circles of life and bums and winos from my working class background believe it or not.

I love both sides of my life, I have never hated my roots, far from it, I had a wonderful welsh mum, who broke her back giving me , my brother and sister a life, and an asshole of father, who was a womaniser and to put it bluntly a giglo.

He was in is 60's at the time and married a wealthy woman from UK with homes in the USA and Canada, although there where many previous females, He said to me many times, "why don't you go out to Florida, Miami, you wouldn't believe all the old dears with cash out there! All looking for a 35 yr old :oops:

Jesus, what an egoistic piece of shit he was, although it took me a long, long while to understand his mentality, and forgive him.
The bond between my mum and him, the love hate relationship, that thrived on arguments and fights was I believe the only thing they had.

What it was really all about was his infidelity, for over 20 years of my life, from the 50's. A bleak time i suppose after the war, although he did very well, neglecting his family all his life, and not having to support his kids.

I have lots of respect for women, and feel for those that struggle to get by day by day, it's not difficult for me to feel my eyes fill up.

Here in Singapore, I am often approached by charities on the street, and I decided only to give once or twice since being here, simply becuse I would really rather give to the old people here, that are selling the tissue paper, to earn a living,

I don't need all the tissue paper, although it often reminds me of my mothers hardship, and how I had to sell newspapers and wrags to the Mill and pick coal off the railwaylines for the fire, at 8 years old, so we wouldn't freeze through the winters, many a day the oilcloth on the bedroom floor was frozen and slippy.

I sincerely do hope locals read these threads, because even if one person learn's something, from other's experiences, then at least some good is passed on.

The importance of accumulating wealth is very real, if one starts a family, without an education it's a lability! So to get out of the gutter one must take the first steps to get some education, at night school, if one doesn't have education, you need other practical skills to survive.

Many so called career guys and their socialite circles actually fall with a bang, when they lose their jobs, it's a pitiful sight, with their top notch positions gone and the socialites, don't want to know your hard times, no friends, the bubble bursts and no skills to fall back on.

Although it's very different coming from the bottom up, the community is still there, and you are always welcomed, I did take a couple of aristocrats back to my area for a weekend, they specifically wanted to see what it was like in a working mens club, and to mix with all the low life.

These type of people born with a silver spoons in their mouths in UK are dwindling year by year, no family money left, to keep the estates going, so they open up to the public, to come and visit, see how the gentry live.

I also used to feast on duck & orange at a Mansion on the road between Stockbridge and Winchester in the UK and mix with the higher echelons at barn dances and hunts, shooting every weekend, it's a life one can enjoy without a doubt, although another world, and another kind of English too.

So yes, one must decide where one wants to go in life, aim for the stars, and you may fall just below.

Setting goals,with ones life is a very important need on the Maslow's pyramid, although one does have to understand how to achieve these needs, and know how and when to go after them.

Networking and socialising go hand in hand, although those at the bottom of the pit, have yet to wake up, the only tools one requires is the confidence to move on, respect, honesty and the motivation to learn, never give up learning and never believe you are a Master, even though it may well be on your papers.

Words are just words and are worthless, if you cannot do a good job!

A little advice before taking the plunge getting married, take a look in the mirror and ask yourselves, who is looking after who, and who is going to suffer financially if it doesn't work out.

believe me I did my time locked in a 6ft by 4ft cell, when I fell behind with the alimony, becuase of unemployment, and actually why I hate the fcuking UK system, is because they sent me down after I had just gained employment, to set and example to other guys, that travel the world.

So yes marry into money, and you will most likely avoid all the pitfalls, if your a man that is.

There are women that do actually go hunting for suckers, especially in the lower ranks of UK, I know some of them personally, although my respect for them dwindles, everytime i'm within earshot.

Which reminds me of the University professor who was in the papers not long ago! Well he also learnt the hard way! or did he learn anything at all, I mean he's a professor, who obviously doesn't have much common sense. Is he an Expert I wonder?


Well done Renter!

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Postby jpatokal » Sat, 06 Jan 2007 3:08 pm

Here's my surefire method of making your money grow. For this, you will need some small bills in your currency of choice (no plastic bills, so new $2 bills are right out), a paper shredder, a shovel and a tree sapling.

1) Dig the hole as deep as the sapling's rootball and twice as wide.
2) Feed bills into shredder. Mix with half the soil from the hole.
3) Place the sapling in the hole, making sure the soil is at the same level on the tree as when the tree grew in the garden center.
4) Fill in around the rootball with money-soil mix and pack the soil with your hands and feet to make sure that there are no air pockets.
5) Make a little dam around the base of the tree as wide as the hole with left over soil or grass clumps to hold in the water.
6) Give your new tree a good soaking of water to help settle it into its new home.

Yield of investment varies considerably depending on your sapling, but annual growth rates can be measured in hundreds of percent in the initial phases. For faster results, do not shred the bills before planting them, just PM me the coordinates of your tree and I'll take care of the rest.

DISCLAIMER:
This material has been compiled by Jpatokal Deep-Rooted Growth and Investment Fund (a business brand name under which Jpatokal Agglomerated Conglomerates and its subsidiaries trade) from sources believed to be reliable, but no representation or warranty, express or implied, is made by Jpatokal Deep-Rooted Growth and Investment Fund, its affiliates or any other person as to its accuracy, completeness or correctness. Nothing in this material constitutes legal, accounting or tax advice or individually tailored investment advice. This material is prepared for general circulation to clients and prospective clients and has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Neither the information provided nor any opinion expressed constitute an offer to sell or a solicitation of an offer to buy any securities or to take any deposits or provide any financing. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Every province in Canada, every state in the U.S., and most countries throughout the world have their own laws regulating the types of securities and other investment products which may be offered to their residents, as well as the process for doing so. As a result, the products and services discussed in this material may not be eligible for sale or otherwise in some jurisdictions. This material is not, and under no circumstances should be construed as, a solicitation to act as securities broker or dealer or otherwise in any jurisdiction by any person or company that is not legally permitted to carry on the business of a securities broker or dealer or otherwise in that jurisdiction. To the full extent permitted by law neither Jpatokal Deep-Rooted Growth and Investment Fund nor any of its affiliates, nor any other person, accepts any liability whatsoever for any direct or consequential loss arising from any use of this material or the information contained herein. No matter contained in this document may be reproduced or copied by any means without the prior consent of Jpatokal Deep-Rooted Growth and Investment Fund.
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chinsh
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Postby chinsh » Wed, 17 Jan 2007 6:22 pm

You can thru investment other than savings. If you new, consider unit trust. I have gained some from there.

Of course, must have some in savings and must put in something give you high yield, say > 3%.

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Know The Three Type Of Income : Maximise them

Postby seantoh » Wed, 17 Jan 2007 7:00 pm

Saving is just one way of growing your money. Educate yourself on the three different types of income and create mutilple streams of incomes from the three different types of income. Creating money takes time. Some people do it faster because they expand their mindsets to learn even more on how to make more money from other means that are not known to most people. Others do it slowly but steadily with reliable less risky instrutments.

Please do you advertising in the Classified section of this site. It's Free.

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Postby sundaymorningstaple » Wed, 17 Jan 2007 10:29 pm

chinsh wrote:You can thru investment other than savings. If you new, consider unit trust. I have gained some from there.

Of course, must have some in savings and must put in something give you high yield, say > 3%.


High yield? I can get 4% guaranteed virtually no risk at all by just putting it in the Special Account in CPF.

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Postby MoTokyo » Fri, 19 Jan 2007 12:59 am

2% yield rates? 4%???

Save... save... save. Pfft... Save yourself a spot in the poor house !

Invest your money in the market. Forget savings accounts, inflation burns money faster than a bank can replenish it. 2%... Learn your way around the big funds and you'll discover just how manipulative a small investor can be with the right amount of education and instinct. Too much education is never a good thing so stick to the most successful writers in any particular industry.

Plan, but don't plan too far ahead. Worst case scenarios stop maybe 99.9% of all people from ever accomplishing anything worthwhile. Some people never stop planning. Read these books and get back to me for more once you've finished :


- The World As Will And Representation - Arthur Schopenhauer --- Volume 1 is good enough, volume 2 is full of rehashed information from volume 1 but still worth the read if you have time.

- How We Think - John Dewey

- A Random Walk Down Wall Street - Burton G. Malkiel

- The Intelligent Investor - Benjamin Graham

- One Up On Wall Street - Peter Lynch

- Getting Things Done, The Art Of Stress Free Productivity - David Allen


These books will set you well on your way to accumulating and generating more wealth, faster. And if you've got the balls and guts for it, start a business. Pick anything that could be improved and do just that. Improve on it. Be too stupid to quit and don't lose your nerve if shit hits the fan. If you want a cosy paycheck and "benefits" continue along the corporate line and you'll risk little by doing so. You will gain little as well.

"There are no short cuts to anywhere worth going."

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Postby Bafana » Fri, 19 Jan 2007 9:43 am

Put it in the cupboard and use spot lights and plenty of hydroponics water :cool: (wathc out for thieving flat mates though)
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Postby provenearning » Fri, 19 Jan 2007 11:23 pm

Invest would be my answer... figure out what your risk appetite is and find the appropriate product for your needs (both long term, medium term and short term.)

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Postby numptie » Thu, 25 Jan 2007 7:13 am

Online poker. It worked for me. There is some luck involved but in the long run the good players will always beat the bad.

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Postby LetThereBeLight » Thu, 25 Jan 2007 11:22 pm

There's this book called "Rich Dad, Poor Dad". Talking about how to grow your wealth.

Basically, everyone spends most of their income especially when they have just started working in their first job. The only difference is, some people spend everything on liabilities (bills, food, transport), whereas others, put aside a percentage to buy assets (investments, endowments, savings).

In the far future, the results will just naturally show who are the ones who's been sowing seeds in the right ground. Having said that, my insurance adviser has also put much emphasis, that a car is a liability, NOT an asset. Because if I accidentally die, my family has to find a way to pay the loan. :shock:

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Postby provenearning » Fri, 26 Jan 2007 6:36 am

the "Millionaire Mind" is also a very good read!

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ksl
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Postby ksl » Fri, 26 Jan 2007 5:42 pm

Having said that, my insurance adviser has also put much emphasis, that a car is a liability, NOT an asset. Because if I accidentally die, my family has to find a way to pay the loan.


Cars are never assets, unless you are into certain collectors cars. I little knowlege helps. For example I purchased a 1970 Opal Two seater GT, for 500 pounds in Denmark, although the import duty had risen to 3,000 pounds, which I refused to pay, the car needed lots of work, although a new floor had been welded in, and flaired wheel arches and spoiler added, the engine needed stripping nad rebuilding.

I kept it in my garage for 5 years, and decided to take it to UK, tax free and duty free, placed it on ebay, and it was sold to the first bidder from the opal club UK, for 3.500.

New cars I'm afraid no matter what the retail cost, are liabilities, depreciating 25% or more in the first year in many cases.

Another coup, was when i went back to UK for a months holiday, I purchased a 1990 Mercedes diesel immaculate condition, red with white leather interior, with full Mercedes service history, another asset at 800 pound, which was sold on ebay at 1,800. There is a skill to making money, and it's all knowledge based.

A fantastic book for me, was the Halifax guide to investing, Coming from a working class background, I had never even considered stock markets!

Although socialising in the right circles, did plant the seed, after i read the book several times, my first little flutter, was a big disaster, because i let my emotions get involved, with loyalties.

Marconi, I was 100% sure it wouldn't be allowed to go under, it was really dirt cheap and a big gamble, and I lost! The banks sold the investers out and rewarded, the CEO for doing it.

But from then on, it was down to what products I had knowledge about, high tech stocks, high volatility, day trading, was easy, using T/A, and undersatnding the seasonal swings, and taking advantage of the effects of world disasters was a walk in the park, and I can live off the business quite easy, but it does need balls of steel to throw 3 grand away, if one gets stuck in, opportunity loss must be considered and a quick decision made, at times.

I've never looked back, managing my own finances and I can certainly make much more than any bank or investment company can return me. After almost 7 years of investing and discussion, with my broker and analyst's,

I feel comfortable saying that stock investment trading, was the best move i ever made in my life. combined, with my business studies, and interest in current world affairs and a well balanced risk assesment of myself, Investment will remain my prime hobby until i pass away!


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