09-15-2011, 09:50 PM
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Making $$$$ w/ ClickCash
Industry Role:
Join Date: May 2003
Location: USA
Posts: 18,037
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Quote:
Originally Posted by Rochard
(I can't believe I finally agree on something Paul said....)
This is exactly what the problem was.
My two good friends are perfect examples. They both had average jobs, her working as a cashier for Costco, him in construction. Combined they made $80k a year. They bought a rather average three bedroom house, and somewhere alone the line they were able to live like kings - three week vacations in Mexico, a $40k truck, a jeep, a new Harley, jet skis, atvs, and a boat. They were living way beyond their means.
The truth is their house nearly doubled in value, allowing them to take out money. They leveraged the perceived value of their house, refinanced, and used the money to buy them nice toys. At a certain point the value of their house dropped, and being as he was in construction he was the first to loose his job. They lost everything, and had to sell off all of their toys at a huge loss just to get by. The only thing they still have is their big truck.
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you reap what you sow. Too many people focus on blowing money and have to have everything NOW! Most people lost the principles of actually saving money or at the very least saving up money over month(s) and wait till you have it in cash then buy it vs buying it now and worrying about paying for it later. Very few people live with in their means. Even less actually scale back on all the fancy stuff, live modest and invest the extra money they make so it can grow and make them more money so they can actually retire one day and have their assets making them money while they kick back and enjoy live vs working till the day they die and living n1gger rich at best.
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ICQ: 86364801 Email: will [at] innovativeassets [dot] com
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