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The mkiv Supra Owners Club

How do you get rich?


Dave Haggas

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Not a bad package! I get no bonus, no health care, some sick leave (dunno how much) and my holiday went up to a stonking 21 days this year! So is the stress worth it for me I ask myself? Tricky.

 

No. Get the hell out of there Flip. My friend is going into PC tutoring locally, for the 'older' generations that want to browse the net, log into email, use Word etc. He's got a few customers lined up and is building a couple of websites too. He only quit his job at EDS 2 weeks ago. Just left that day as he had enough.

 

The stress is never worth it mate and at least with contracting you can take a more relaxed attitude as you'll probably never see the client again after the 6-9months is up! Bonus. ;)

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It is a very daunting proposition at first,but have a plan and learn as much as you can about the system.

I used to think when I was an employee about sick pay and holiday pay,but it really isnt a problem.

I must admit ,as long as you can apply yourself and stay motivated ,it can work.

Just stay focused.:)

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Yeah, I think I am going to have to get out, its doing me no good there. I'm tempted to start the MSCE and stay there whilst I do it in the evenings, that way at least I get bread on the table while I train, and if I'm sensible with the pennies (pffft - that'll happen) I can have a buffer zone in the bank for contract finding, etc....

 

... see, the plan is there, but as has been said... its the jump, scary.

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Property - scale up, remortgage and increase your portfolio every year. 20 properties is easily achievable within 5 years. Each should yeid aprox 200 quid on rental on top of mortgage - you can earn 4k per month on rental income alone

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My answer to this is be shrewd and completely unscrupulous. Only millionaire I know started off with his gratuity from the army he left at the age of 38 and his house half payed for. He left the army because he was bored having reached WO grade one in real short time about 26 I think he was and not wanting a commision in the catering trade. His mate was an emergency lock smith by trade but was struggling big time. He decided to come on board as the majority stockholder in the firm and in less than a year turned the firm around.

He used his gratuity some 30k and borrowed another 30-50k (he hasnt really disclosed how far he hocked himself to get started) against his house and spent the lot on yellow pages adverts. He had 4 or 5 mobiles and basically started to take all the lock smith jobs one by one in the entire area. He called up regularly all the other guys in the yellow pages and knew where and when to undercut them. After a year or so he commanded the entire areas locksmithing work.

He then consolidated his wealth by moving into a crappy property in a good area and making a small fortune dong it up using cheap labour and wise material buying. After he took command of his immediatte area he started offering the local lock smiths sub contract work only once. If they refused he basically put them out of business (I believe he made an example of the first guy to prove his point) after that most came on board and worked for him.

Some ten years later he runs a lock smithing school, and runs most of the countries lock smithing industry. He has a house down sandbanks with the footballers etc worth millions and is pretty much paid for cash. I have absolutly no doubts he had some heavy pressure from people when he got started as the locksmithing business makes alot of cash and people don't like to see that being muscled in on. Meeting the guy you know there is something about him you wouldn't mess with.

Lack of scruples, a strong business idea and the desire to work all the hours that is sent just to succeed is the right formula add a huge dash of luck and you'll get there

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Acutally when most people say they wanna get rich they acutally mean "I want to consume a lot". As an employee, consume and rich doesn't go well together. If you would be given £1k net more per month you would probably spend all of it (like most people would). And that is why some people will always have little to zero net value. So first you need to change your thinking and attitued towards consuming - which basically means a Supra is not financially justified if you are a low-mid income earner.

 

But to give you some points:

 

1. Don't be afraid to quit your job and move into a more well paid profession - it is usually the easiest way to increase your pay. Where I grew up it is the only way!

 

2. Don't spend more than you earn (sounds obvious but few ppl follow this rule).

 

3. Set-up a budget in excel - you will be surprised how much money you spend on sh1t.

 

but most important

 

4. If you want to be financially independant you need to start your own business, in the right sector and be good at what you do.

 

5. And for the love of god, if you start earning a decent amount of £££, do NOT tell you girl/wife how much you make, because then you can certainly kiss that consume discipline good bye - this is where I am now, so I am learning nr5 the hard way, lol. :fool:

 

There are professions that offer a good salary, some of them have been mentioned but as a normal employee it will be really tough to become wealthy. Moreover, with the east european states joining the EU you can be certain they will come to the UK and compete for low/mid-skilled jobs that are paying well.

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Making big bucks by being prepared to risk everything usually works. Most people won't step outside their comfort zone, so will not take the financial risk required to earn big money. Most people increase their spending when their income rises,which is fine until income drops. I am talking about running your own business, not working for someone else.

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Acutally when most people say they wanna get rich they acutally mean "I want to consume a lot". As an employee, consume and rich doesn't go well together. If you would be given £1k net more per month you would probably spend all of it (like most people would). And that is why some people will always have little to zero net value. So first you need to change your thinking and attitued towards consuming - which basically means a Supra is not financially justified if you are a low-mid income earner.

 

But to give you some points:

 

1. Don't be afraid to quit your job and move into a more well paid profession - it is usually the easiest way to increase your pay. Where I grew up it is the only way!

 

2. Don't spend more than you earn (sounds obvious but few ppl follow this rule).

 

3. Set-up a budget in excel - you will be surprised how much money you spend on sh1t.

 

but most important

 

4. If you want to be financially independant you need to start your own business, in the right sector and be good at what you do.

 

5. And for the love of god, if you start earning a decent amount of £££, do NOT tell you girl/wife how much you make, because then you can certainly kiss that consume discipline good bye - this is where I am now, so I am learning nr5 the hard way, lol. :fool:

 

There are professions that offer a good salary, some of them have been mentioned but as a normal employee it will be really tough to become wealthy. Moreover, with the east european states joining the EU you can be certain they will come to the UK and compete for low/mid-skilled jobs that are paying well.

 

Money isnt so important to me, following your dreams (what you want to do in life) and achieving is.

 

If you can make money by following your dreams, thats a nice situation to be in. But its only part of the bigger picture. :zen:

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i was thinking about shipping a UK ice cream van over to the USA and sell 99`ers,

the ice cream vans in the USA are just like poor quality trucks with "ices" on the side and dont even play "popeye the sailor man" as there driving down the road ;)

I can help you with that. http://www.whitbymorrison.co.uk make most of the vans on the road. We host them and did the website.

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Money isnt so important to me, following your dreams (what you want to do in life) and achieving is.

 

If you can make money by following your dreams, thats a nice situation to be in. But its only part of the bigger picture. :zen:

 

I agree, following my dreams has been great, but I'll never be rich. Ho hum

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Actually, it's "The love of money" that is said to be the root of evil, not money itself.

 

 

/bible lesson

 

I thought it was women that are root of all evil???

 

I'll prove it:

 

Everyone knows Women are Time and Money

 

Women = Time x Money

 

Everyone knows Time IS Money

 

Time = Money

 

Therefore:

Women = Money x Money (or money squared)

 

Everyone knows Money is the root of all evil

 

Money = Square root of all Evil = (all Evil)^0.5

 

Therefore:

Women = The square of the square root of {all evil}

 

Women = ((all Evil)^0.5)2

 

The square of the square root of anything is simply equal to itself....

 

Therefore Women = all Evil

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I think property is still one of the easiest ways to make money. Property and luck. My bro is an accountant, worked very hard for it too, I can make more money by moving house every 2 years than his salary.

 

With hindsight I would have bought several properties, instead I stretched myself each time whilst lowering the mortgage whereever possible. My current home is valued at 400-450k whilst I only owe 55k, only been in the property 'game' for 6 years so not bad.

 

I know someone who's just started as a property developer and is making good money already, 4 months in, just takes drive and determination.

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I think property is still one of the easiest ways to make money. Property and luck. My bro is an accountant, worked very hard for it too, I can make more money by moving house every 2 years than his salary.

 

With hindsight I would have bought several properties, instead I stretched myself each time whilst lowering the mortgage whereever possible. My current home is valued at 400-450k whilst I only owe 55k, only been in the property 'game' for 6 years so not bad.

 

I know someone who's just started as a property developer and is making good money already, 4 months in, just takes drive and determination.

 

Thats how its done, well done.

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I think property is still one of the easiest ways to make money. Property and luck. My bro is an accountant, worked very hard for it too, I can make more money by moving house every 2 years than his salary.

 

With hindsight I would have bought several properties, instead I stretched myself each time whilst lowering the mortgage whereever possible. My current home is valued at 400-450k whilst I only owe 55k, only been in the property 'game' for 6 years so not bad.

 

I know someone who's just started as a property developer and is making good money already, 4 months in, just takes drive and determination.

 

How old are you Ozz??

 

H.

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I think property is still one of the easiest ways to make money. Property and luck. My bro is an accountant, worked very hard for it too, I can make more money by moving house every 2 years than his salary.

 

With hindsight I would have bought several properties, instead I stretched myself each time whilst lowering the mortgage whereever possible. My current home is valued at 400-450k whilst I only owe 55k, only been in the property 'game' for 6 years so not bad.

 

I know someone who's just started as a property developer and is making good money already, 4 months in, just takes drive and determination.

 

Right up until the property bubble bursts then anyone trying to start now ie not already having huge equity could come a real cropper.

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