Barefoot Investor is Butt Naked
- Thread starter Ronnie 666
- Start date
Saying investing the equivalent of $50,000 of today's money spread over 10 years then waiting another 35 years and you'll have the equivalent of $235,000 doesn't sound as cool as getting 2.7 million
I'm pro early investing, long term returns etc. but I'm against selective representations and phrases like 'crack the time code'
There's real potential opportunity loss for that $50,000 between age 15-25 too that should be mentioned - such as using that money to travel and/or for education etc.
I'm pro early investing, long term returns etc. but I'm against selective representations and phrases like 'crack the time code'
There's real potential opportunity loss for that $50,000 between age 15-25 too that should be mentioned - such as using that money to travel and/or for education etc.
Revils said:
wrcmad said:Why?BuggedOut said:Take it easy people.
Lets try to keep the insults directed at the Barefoot Investor pls
Because he highlighted figures that don't support the mantra? :/
No because stocks now look fantastic - it's a buying opportunity
Article didn't say that.Ronnie 666 said:wrcmad said:Why?BuggedOut said:Take it easy people.
Lets try to keep the insults directed at the Barefoot Investor pls
Because he highlighted figures that don't support the mantra? :/
No because stocks now look fantastic - it's a buying opportunity
It said you should stick to watching kittens. :lol:
Well someone who calls himself "barefoot investor" who is a joke in the real investment community must appeal to you wrcmad. I am sure you have a lot in common.
You see I can also dish out personal attacks !!! You do not have sole mandate.
Kittens or no kittens, his advice is certainly worthy of avoidance.
You see I can also dish out personal attacks !!! You do not have sole mandate.
Kittens or no kittens, his advice is certainly worthy of avoidance.
I agree he shouldn't be taken seriously.Ronnie 666 said:
Don't know why you think he would appeal to me?
I don't even read any publication he appears in - MSM for those of average or less intellect.
I can understand why you read those publications, however, after seeing you failed to pick up the key-points of this article as written in layman's terms.
I've read him consistently over the last 18 months or so and his advice isn't much different to the views on SS. The difference being his belief in Stock market versus SS belief in Physical.
In essence his advice, with examples, seems to be:
- Save a $2000 cash buffer, have some cash on hand for a few months living expenses.
- Find the best deals around for loans, deposits etc.
- Don't trust financial planners or banks for advice.
- Don't drive a car that costs more than a percentage (I think it's 20%) of your annual wage.
- A house is a home so buy one if you want to and pay it down as fast as you can so it doesn't cost twice as much or more in interest.
- Minimise tax wherever possible
- Know the difference between good debt and bad debt.
- Buy into stocks for your future
Of course, most here would say, 'Buy into metals for your future', but even as a firm believer in 'real money', I think you're very shortsighted if you swallow any single line wholeheartedly (100% stocks, or 100% metals), but his basic advice is common sense.
This is his latest post. Gave me quite a giggle.
In essence his advice, with examples, seems to be:
- Save a $2000 cash buffer, have some cash on hand for a few months living expenses.
- Find the best deals around for loans, deposits etc.
- Don't trust financial planners or banks for advice.
- Don't drive a car that costs more than a percentage (I think it's 20%) of your annual wage.
- A house is a home so buy one if you want to and pay it down as fast as you can so it doesn't cost twice as much or more in interest.
- Minimise tax wherever possible
- Know the difference between good debt and bad debt.
- Buy into stocks for your future
Of course, most here would say, 'Buy into metals for your future', but even as a firm believer in 'real money', I think you're very shortsighted if you swallow any single line wholeheartedly (100% stocks, or 100% metals), but his basic advice is common sense.
This is his latest post. Gave me quite a giggle.
H
House
Guest
wrcmad said:
+7. Left a Big 4 FP totally embarrassed when I got her to admit not only did she not invest herself but that she was in debt and lived off credit cards. And that she also pushed the highest commission products regardless of who she was talking to
House said:wrcmad said:
+7. Left a Big 4 FP totally embarrassed when I got her to admit not only did she not invest herself but that she was in debt and lived off credit cards. And that she also pushed the highest commission products regardless of who she was talking to
LOL. Indeed!! A lesson I learned as well House.
or as the above Barefoot Investor Award goes:
I sold all my silver and gold a few weeks ago and invested it in the share market based on this advice. found a great Australian company and apparently I am about to receive a heap of money now my investment in Dick smith has gone in to receivership. Can anyone tell me where this boat is so I can receive my money?
got to love this stable share market vs crappy silver and gold. it doesn't even pay dividends!
got to love this stable share market vs crappy silver and gold. it doesn't even pay dividends!
wrcmad said:I paid for my first house using profits from the share market.serial said:
I have had to work like a slave to keep my head above water in PM's.
The boat has sailed for now - unless you are short.
Hey wrcmad how is that short position going ? Looking good ?? Or am I standing on my head. Boat must have capsized.
By the way I hear that stocks are a fantastic buying opportunity.
Brilliant, thanks.Ronnie 666 said:wrcmad said:I paid for my first house using profits from the share market.serial said:
I have had to work like a slave to keep my head above water in PM's.
The boat has sailed for now - unless you are short.
Hey wrcmad how is that short position going ? Looking good ?? Or am I standing on my head. Boat must have capsized.
By the way I hear that stocks are a fantastic buying opportunity.
Any numbskull could have shorted share indexes this week and made more returns than PM's have made in the last few years.
Don't listen to rumours - as you know, it doesn't pay.
wrcmad said:Any numbskull could have shorted share indexes this week and made more returns than PM's have made in the last few years.
Don't listen to rumours - as you know, it doesn't pay.
Seriously wrcmad that is so weak it needs crutches !!
You are the self professed self anointed guru - expert on all financial details. As you pointed out so often in your opinion I am the part-literate cretin.
However, without doubt or confusion you clearly said the stock market is the place to be; metals are done and the only play in metals is to short them. It must be working out well for you.
All good I hope - you couldn't have timed it better, posting it 1 day before the market sank. As you say its all about timing and boy did you time it to perfection.
Yep.Ronnie 666 said:
:lol:Ronnie 666 said:
Please point out where I clearly said that. :lol:
Really... I have read this thread over twice and can't find it. :/
Obviously you dream up more than your theories on PMs, or is that your cretinism coming out again?
Ya know what. Don't bother. 
I'm bored of the to-and-fro with you - you make it too easy.
I know you are still dirty because I publicly wiped my ass with your failed dig regarding backwardation, but honestly, now you are trying too hard to get one back on me.
Your day will come... You just need a little more education, and a little less make believe.
See ya!
I'm bored of the to-and-fro with you - you make it too easy.
I know you are still dirty because I publicly wiped my ass with your failed dig regarding backwardation, but honestly, now you are trying too hard to get one back on me.
Your day will come... You just need a little more education, and a little less make believe.
See ya!