Author Topic: Race from $2M to $3M.....and beyond!  (Read 69840 times)

soccerluvof4

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Re: Race from $2M to $3M.....and beyond!
« Reply #550 on: November 22, 2018, 11:54:18 AM »
Congrats! Good luck on your journey.

Thanks Ysette9.  Sometimes I think it's easier to make money than to lose weight and be fitter.  Both are lifestyle choices based on a lifetime of micro-decisions. 

I see you have a husband, which generally means you're female.  I am also.  I'm curious...Are there other females on this thread?





There are many! Not sure what the ratio is but seems 50/50 maybe more on the Females side

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #551 on: November 22, 2018, 05:37:23 PM »
Isn't 2.5 million enough?

https://www.youtube.com/watch?v=eikbQPldhPY

Is this still valid advice?

ysette9

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Re: Race from $2M to $3M.....and beyond!
« Reply #552 on: November 22, 2018, 09:41:15 PM »
Congrats! Good luck on your journey.

Thanks Ysette9.  Sometimes I think it's easier to make money than to lose weight and be fitter.  Both are lifestyle choices based on a lifetime of micro-decisions. 

I see you have a husband, which generally means you're female.  I am also.  I'm curious...Are there other females on this thread?





There are many! Not sure what the ratio is but seems 50/50 maybe more on the Females side
Oh really? I had always thought that the forums were more heavily skewed to male, though I’m not sure where I picked up that impression.

soccerluvof4

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Re: Race from $2M to $3M.....and beyond!
« Reply #553 on: November 24, 2018, 05:19:56 AM »
Isn't 2.5 million enough?

https://www.youtube.com/watch?v=eikbQPldhPY

Is this still valid advice?



I'd say so , pretty much what I went by. Always love that video!

itchyfeet

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Re: Race from $2M to $3M.....and beyond!
« Reply #554 on: November 24, 2018, 07:32:50 AM »
Isn't 2.5 million enough?

https://www.youtube.com/watch?v=eikbQPldhPY

Is this still valid advice?



I'd say so , pretty much what I went by. Always love that video!

I hadnít seen that video before. 😆

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #555 on: November 24, 2018, 09:53:26 AM »
That video has become my go to when I have to tell myself to stop fretting over market pullbacks..

$2.5M.. Yes it really is a fortress of f,,,g solitude!!!..:)

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #556 on: November 24, 2018, 10:46:39 AM »
Isn't 2.5 million enough?

https://www.youtube.com/watch?v=eikbQPldhPY

Is this still valid advice?



I'd say so , pretty much what I went by. Always love that video!

I hadnít seen that video before. 😆
Me neither. Love, love, love it!

2Birds1Stone

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Re: Race from $2M to $3M.....and beyond!
« Reply #557 on: November 24, 2018, 11:00:53 AM »
Wow! It's better than the original.

ysette9

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Re: Race from $2M to $3M.....and beyond!
« Reply #558 on: November 24, 2018, 11:14:36 AM »
So good

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #559 on: November 24, 2018, 03:38:31 PM »
I watch both both versions at least once a month.  2.5 million is the goal.

EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #560 on: November 25, 2018, 03:54:34 AM »
Sadly though, as the video ends, it reminds me that America is going deeper into debt and even hitting the accelerator...  the majority will never learn.

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #561 on: November 25, 2018, 06:42:50 AM »
Sadly though, as the video ends, it reminds me that America is going deeper into debt and even hitting the accelerator...  the majority will never learn.

I had this scary thought as I read your comment.  Government is going crazy about borrowing money as they protect the very rich people and corporations from paying taxes. (among other reasons)  They are spending a lot of money they don't have.  This is increasing the money in circulation.  I've been taught a higher money supply is inflationary.

Right now 2-3 million dollars is plenty.  Can the excessive deficit spending reduce that amount and wipe out some of the hard work all the folks have done here to earn it?  As the video said we are f*&king it up.

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #562 on: November 26, 2018, 06:37:07 PM »
 Government deficit spending it is not necessarily a bad thing. When interest rates are extraordinarily low government deficit spending is actually what will help pick an economy up from the ground.
When there is deficit spending during peak economic growth then the deficit spending can crowd out private borrowing which can cause inflation and drive up interest rates. When interest rates go up thatís when businesses endure higher interest payments. Mortgages And borrowing gets too expensive, and housing and construction can suffer which can lead to a recession.

soccerluvof4

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Re: Race from $2M to $3M.....and beyond!
« Reply #563 on: November 27, 2018, 03:19:25 AM »
Government deficit spending it is not necessarily a bad thing. When interest rates are extraordinarily low government deficit spending is actually what will help pick an economy up from the ground.
When there is deficit spending during peak economic growth then the deficit spending can crowd out private borrowing which can cause inflation and drive up interest rates. When interest rates go up thatís when businesses endure higher interest payments. Mortgages And borrowing gets too expensive, and housing and construction can suffer which can lead to a recession.




^+1

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #564 on: November 27, 2018, 08:05:53 AM »
The national debt can grow at a rate that is sustainable, it's the debt to GDP ratio that's a better metric. If the nominal GDP grows 6% a year, the national debt can grow to that level as well.

EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #565 on: November 28, 2018, 06:06:30 AM »
The national debt can grow at a rate that is sustainable, it's the debt to GDP ratio that's a better metric. If the nominal GDP grows 6% a year, the national debt can grow to that level as well.

Good points in theory, but when the economy is humming along, it's typically a good time to start to balance the budget or at least stay below the historic average.  We are going in to the 10th year of GDP expansion (last contracted in 2009) and are voluntarily accelerating the spending deficit (by cutting taxes, increasing government spending, etc) since 2015.
 
https://en.wikipedia.org/wiki/United_States_federal_budget#/media/File:CBO_Deficits_pct_GDP_1968-2028.png

It doesn't take a genius to think about what will happen when GDP shrinks during a recession, government spending needs to increase to stimulate the economy, tax revenue is already low, and the heavy hitters like Medicare are increasing...  I guess Boomers should be thanking the next generations in advance for being willing to take cuts to our Medicare and Social Security benefits!

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #566 on: November 30, 2018, 08:37:49 PM »
The expanding deficit primarily occurred because of the business tax cuts, not because of increased government spending.

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #567 on: December 01, 2018, 07:39:28 AM »
The expanding deficit primarily occurred because of the business tax cuts, not because of increased government spending.

Were these tax cuts good or were they bad?  The government has to borrow more and so we end up paying the original cost + interest.  However, a couple days ago I talked to a small business owner and learned what an enormous tax small businessmen have to pay.

I don't believe in the Laffer curve.  I also don't believe in crippling business.

Too much tax will stop the 2-3 million dollar race.

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #568 on: December 01, 2018, 11:46:42 AM »
The expanding deficit primarily occurred because of the business tax cuts, not because of increased government spending.

Were these tax cuts good or were they bad?  The government has to borrow more and so we end up paying the original cost + interest.  However, a couple days ago I talked to a small business owner and learned what an enormous tax small businessmen have to pay.

I don't believe in the Laffer curve.  I also don't believe in crippling business.

Too much tax will stop the 2-3 million dollar race.

I really doubt the taxes are so enormous - sounded like a complainypants.

When you have a small business you get to deduct for just about everything you can think of, which lowers the business income.
If this person is making so much money that he's complaining that he doesn't have enough to buy a 3rd house and a 4th Mercedes then no I don't feel sorry for him.

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #569 on: December 01, 2018, 12:00:50 PM »
The expanding deficit primarily occurred because of the business tax cuts, not because of increased government spending.

Were these tax cuts good or were they bad?  The government has to borrow more and so we end up paying the original cost + interest.  However, a couple days ago I talked to a small business owner and learned what an enormous tax small businessmen have to pay.

I don't believe in the Laffer curve.  I also don't believe in crippling business.

Too much tax will stop the 2-3 million dollar race.

- SNIP -

When you have a small business you get to deduct for just about everything you can think of, which lowers the business income.
If this person is making so much money that he's complaining that he doesn't have enough to buy a 3rd house and a 4th Mercedes then no I don't feel sorry for him.


He's a Mississippi boy.  It would have been another pickup and not a Mercedes.

Car Jack

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Re: Race from $2M to $3M.....and beyond!
« Reply #570 on: December 02, 2018, 12:31:21 PM »
Mercedes pickup.....