You all are taking financial advice from people in the same financial boat as you!!!!!!!!
Seriously do some research!
Read Rich dad poor dad http://www.richdad.com/
Read about the real investors in this world, don't do the same as the middle class and the poor!
True investors have enough money they are not afraid of high risk investments, thats why they get richer and richer!
What if the house is worth half as much as it was when you got it? Don't automatically assume that something will go up in value!
While you have that house it costs you money every single month! In my book a house is a liability. I'm not saying don't buy a house. I'm saying know what is good for you. Only consider something an asset if its making you money every month. Now if you were to have a house that you rent out then you would have an asset if its making you money. Don't get liability confused with asset, and make sure you know there are other definitions of those words.
anything that brings you a negative cashflow is a liability. Anything that brings a positive cashflow is an asset. You people need to expand your definitions beyond that of banker's or accountant's. Yes its important to know what they call it, but its more important for you to know what it is to you. NOTE: Living expeses should not be confused with liabilities. Also there are good kinds of debt to have, and their definitions go hand in hand with assets(true assets, not what your banker calls an asset).
Also keep in mind that what the banker says you should do is not always what you should do and often they are in the same financial boat as you, DON'T TAKE ADVICE FROM PEOPLE IN THE SAME FINANCIAL SITUATION as you unless you want to be in their situation.
I completely agree, so many horribly mismanage their money (often to the point of bankruptcy. You have to make a choice: do you want to retire as early as possible or do you hope that you can retire by 65. I highly doubt that any of these people know what they are talking about when it comes to money. First there is no such thing as a "No risk investment" just get used to the idea that every investment has some kind of a risk. Know your investment don't just go asking "What should I invest in?". There are three classes of asset(true assets, not what the bank calls assets): Businesses, Passive assets(things that make you money every month), and paper assets. Paper assets -- stocks, bonds, mutual funds -- are the ones you have the least control over. Businesses and Passive Assets usually you have a lot more control over. Many people invest in the stock market thinking that they can only make money if the market is a bull market. The problem with savings accounts or CDs is that they don't keep up with inflation, so you can actually lose money. Not to mention they have such low interest rates that they're almost useless. Money in the bank only loses to inflation, money in a low interest account of any kind takes so long to accumulate any money that they're pretty much worthless. Mutual funds are based on the stock market, there are now more mutual funds than there are actual stocks. Mutual funds and 401k plans both will lose money very fast. The baby boomers retiring alone will be a huge hit to the market, because they are required by law to start selling when they retire. When they do retire and have to start selling their mutual funds and 401k plans. Basic economics says when there are more sellers than buyers that market will go down. Medicare and social security will bankrupt when this group of over 75 Million people start retiring expecting all that the government has promised them. My recommendation is that you learn how to be a real investor and take advice that the pros have already written entire books on. People like Warren Buffet, Robert Kiyosaki, and Dolf Deroos to name a few have already done it and they have all written books about what they did. Do some research, don't just blindly ask people for advice. Robert Kiyosaki's books are best sellers, "Rich Dad, Poor Dad" explains the real reasons why people are rich, middle class, or poor; whether they know it or not they chose to be there with their mindset. The middle class aims to live comfortably, which they do, the poor aim to survive, and the rich aim to win. Just read what some of the real investors did, and learn to avoid bad advice. Good rule of thumb on advice, only take it from those you want to be like (i.e. if you want to be rich don't listen to what the poor and middle class do with their money, but if you want to be poor or middle class listen to their advice). I'm sure most of the people on slashdot giving advice are poor or middle class. Would the people who are truely rich from their investments waste the time on a website, when they can go and invest in something or spend time with people that are important to them? Make a choice to either live comfortably or thrive. I aim to thrive, so I am reading about what the pros did and then doing it.
What everyone should do when they are investing is do the research themselves
Personally I think a lot of people are really stupid with their money because they actually trust all the sugar coated advice they hear, such as the stock market generally goes up. Anyone with any experience in economics will tell you that markets go up, down, and sideways. You need to be able to be smart enough with your own money that you can handle anything the market throws at you. Most importantly never stop learning, keep reading everything from everyone about investments. I would start by reading "Rich Dad Poor Dad" by Robert Kiyosaki
It seems microsoft has been pushing this for the last couple years.
A monthly subscription software as a service model won't work that well, especially if microsoft is dumb enough to actually charge their monthly(or yearly, whatever) fee for windows itself. I don't think microsft would ever be that stupid but, things can change. Either way I don't think it would fly well with consumers who already pay an arm and a leg for M$ Software(which is mostly crap anyway) to pay for it again and again. Anybody who does the math will disagree with this software as a service idea, unless they have cash lying around that they are willing to waste.
Do the math:
$250(this can be higher of course) now OR $20/Month (really low estimate)
$20 * 12 Months = 2*10 * 12 = $240 / year !!
if they charge $50/Month: 5*12*10 = $600/year !!
I think many will see this as a bad idea, and there will also be some willing to pay that much but as a model I think it will fail.
Slashdot Mirror
You all are taking financial advice from people in the same financial boat as you!!!!!!!! Seriously do some research! Read Rich dad poor dad http://www.richdad.com/ Read about the real investors in this world, don't do the same as the middle class and the poor! True investors have enough money they are not afraid of high risk investments, thats why they get richer and richer!
What if the house is worth half as much as it was when you got it? Don't automatically assume that something will go up in value!
While you have that house it costs you money every single month! In my book a house is a liability. I'm not saying don't buy a house. I'm saying know what is good for you. Only consider something an asset if its making you money every month. Now if you were to have a house that you rent out then you would have an asset if its making you money. Don't get liability confused with asset, and make sure you know there are other definitions of those words.
anything that brings you a negative cashflow is a liability. Anything that brings a positive cashflow is an asset. You people need to expand your definitions beyond that of banker's or accountant's. Yes its important to know what they call it, but its more important for you to know what it is to you. NOTE: Living expeses should not be confused with liabilities. Also there are good kinds of debt to have, and their definitions go hand in hand with assets(true assets, not what your banker calls an asset).
Also keep in mind that what the banker says you should do is not always what you should do and often they are in the same financial boat as you, DON'T TAKE ADVICE FROM PEOPLE IN THE SAME FINANCIAL SITUATION as you unless you want to be in their situation.
a house is only an asset to the bank, for you it's a liability. Learn the difference between an asset and a liability!
I completely agree, so many horribly mismanage their money (often to the point of bankruptcy. You have to make a choice: do you want
to retire as early as possible or do you hope that you can retire by 65. I highly doubt that any of these people know what they
are talking about when it comes to money. First there is no such thing as a "No risk investment" just get used to the idea that
every investment has some kind of a risk. Know your investment don't just go asking "What should I invest in?". There are three
classes of asset(true assets, not what the bank calls assets): Businesses, Passive assets(things that make you money every
month), and paper assets. Paper assets -- stocks, bonds, mutual funds -- are the ones you have the least control over.
Businesses and Passive Assets usually you have a lot more control over. Many people invest in the stock market thinking that
they can only make money if the market is a bull market. The problem with savings accounts or CDs is that they
don't keep up with inflation, so you can actually lose money. Not to mention they have such low interest rates that they're
almost useless. Money in the bank only loses to inflation, money in a low interest account of any kind takes so long to
accumulate any money that they're pretty much worthless. Mutual funds are based on the stock market, there are now more
mutual funds than there are actual stocks. Mutual funds and 401k plans both will lose money very fast. The baby boomers
retiring alone will be a huge hit to the market, because they are required by law to start selling when they retire. When
they do retire and have to start selling their mutual funds and 401k plans. Basic economics says when there are more sellers
than buyers that market will go down. Medicare and social security will bankrupt when this group of over 75 Million people
start retiring expecting all that the government has promised them. My recommendation is that you learn how to be a real
investor and take advice that the pros have already written entire books on. People like Warren Buffet, Robert Kiyosaki, and
Dolf Deroos to name a few have already done it and they have all written books about what they did. Do some research, don't
just blindly ask people for advice. Robert Kiyosaki's books are best sellers, "Rich Dad, Poor Dad" explains the real reasons
why people are rich, middle class, or poor; whether they know it or not they chose to be there with their mindset. The middle
class aims to live comfortably, which they do, the poor aim to survive, and the rich aim to win. Just read what some of the
real investors did, and learn to avoid bad advice. Good rule of thumb on advice, only take it from those you want to be like
(i.e. if you want to be rich don't listen to what the poor and middle class do with their money, but if you want to be poor
or middle class listen to their advice). I'm sure most of the people on slashdot giving advice are poor or middle class.
Would the people who are truely rich from their investments waste the time on a website, when they can go and invest in
something or spend time with people that are important to them? Make a choice to either live comfortably or thrive. I aim to
thrive, so I am reading about what the pros did and then doing it.
What everyone should do when they are investing is do the research themselves
Personally I think a lot of people are really stupid with their money because they actually trust all the sugar coated advice they
hear, such as the stock market generally goes up. Anyone with any experience in economics will tell you that markets go up, down, and
sideways. You need to be able to be smart enough with your own money that you can handle anything the market throws at you. Most
importantly never stop learning, keep reading everything from everyone about investments. I would start by reading "Rich Dad Poor Dad" by Robert Kiyosaki
What do you know they are that stupid....
Unfortunately I know people that will fall for this hook, line and sinker.
Guess they don't realize that it will cost them more in the long run.
It seems microsoft has been pushing this for the last couple years.
A monthly subscription software as a service model won't work that well, especially if microsoft is dumb enough to actually charge their monthly(or yearly, whatever) fee for windows itself. I don't think microsft would ever be that stupid but, things can change. Either way I don't think it would fly well with consumers who already pay an arm and a leg for M$ Software(which is mostly crap anyway) to pay for it again and again. Anybody who does the math will disagree with this software as a service idea, unless they have cash lying around that they are willing to waste.
Do the math:
$250(this can be higher of course) now OR $20/Month (really low estimate)
$20 * 12 Months = 2*10 * 12 = $240 / year !!
if they charge $50/Month: 5*12*10 = $600/year !!
I think many will see this as a bad idea, and there will also be some willing to pay that much but as a model I think it will fail.