My number is 10 Million by Jan 1st 2019.
As part of my growth engine to get me there, I will be using individual stocks. I first came across Phil Town's Book "Rule #1" about a year and a half ago (have I been reading Adrian's posts for that long?) on Adrian's 7million7years.com web site. I read it quickly, bought my first stock (Garmin) according the book's valuation principles and then promptly let everything fall by the wayside without bothering to actually implement the part of the strategy…
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Added by Jeff on November 8, 2009 at 10:34pm —
2 Comments
As many of you know I have been trying to start up a greeting card company. The first test drive
will be happening just in time for Christmas. What kind of cards you might ask? Well Dah....Christmas
cards you silly thing.
The line will be simple hand drawn sketches from my limited artistic skills. I'll test the market here
in the mid west with those friends and family who will be willing to humor me as I seek to discover
if this'll fly or not.
I'll start with a set of eight different 5"X7" Chr…
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Added by Lee Martin on October 23, 2009 at 10:00pm —
3 Comments
We use Ning to host this community site and one of the cool new features that they've added is "give a gift".
To try it, just click on a member's profile and select the 'give a gift' link.
I've looked at it, but haven't tried sending one (most of them look a little hokey to me ... and not terribly relevant to a personal finance web-site) ...
... but, hey, don't let that stop you: a gift might be a great way to recognize a fellow member's contribution.
If you try it, be sure to let us know wh…
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Added by Adrian on October 20, 2009 at 8:59pm —
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I had an idea recently to improve an existing product. It would take something that's already on the market and sells well (for years...) and make it more modern and hopefully, better.
You can't just invent it yourself because someone else already invented the primary product, right? This is literally a slight improvement and using the existing item but then adding on or modifying it to make it a bit better.
Would I have to contact the original creator to see if their interested in the idea? A…
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Added by Debbie on October 7, 2009 at 1:11pm —
7 Comments
... particularly, if you are interested in property development (as a speculative/business activity) I have posted a spreadsheet that I developed to help me decide to go ahead with a recent land acquisition (a multi-story) residential property development site) on a new group that I have created for real-estate junkies on this forum:
http://shareyournumber.ning.com…
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Added by Adrian on September 10, 2009 at 8:39am —
1 Comment
On 7million7years.com today, I posted about a question from a new reader who is in dire financial straits; you can read her comment here:
http://7million7years.com/2009/08/31/i-think-were-screwed/
I'm seeing some pretty good comments from the 7m7y reader community, but I thought that I would share my private thoughts here; it's simple and straight to the point: if you ever find yourself in a situation like…
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Added by Adrian on September 1, 2009 at 7:30am —
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Here is a quick update:
Just when I think I got things figured out, life throws me a twist. You see I'm trying to establish a small business in the form of a greet card company. I attempted to contact several potential sketch artists who might be interested in being on the ground floor of this exciting business. Out of five different people I contacted only one showed any interest. (I am still looking for interested sketch artists)
I was excited and made some basic plans but progress is pretty…
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Added by Lee Martin on August 17, 2009 at 7:45pm —
9 Comments
... not fun, but it happens :)
So, after receiving
up / down reports on my blog - and, experiencing it myself on a couple of occasions (i.e. a "page not found" error message) - I hassled GoDaddy's tech. services team who have not yet managed to solve my problem.
That they immediately knew what the issue was indicates that this issue is not isolated to me, so I figure they must be busy fixing it.
Anyhow, this…
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Added by Adrian on August 17, 2009 at 6:46pm —
1 Comment
I'm fascinated by how people move around, and in particular how they migrate to a different town, city or even country that offers the best opportunities for what they want or need to do.
My own experience has been one of almost constant moving, but I know I'm far from unique.
I wonder how many other people (members of this site in particular) have moved themselves and their families to different places out of necessity and/or because of opportunity - and how well things turned out.
Hence the…
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Added by John Doe Jr on August 15, 2009 at 7:49pm —
15 Comments
During these school holidays, our teenage daughter asked if there were any books we’d like her to read.
Before you fall off your chair in amazement, there’s some important background to this otherwise extraordinary request.
Jane (not her real name) has an unusually broad background in business and investment philosophies having grown up around my wife and me as we grappled with how to get ahead financially. Add to that the fact that my wife is an accountant and I’m a lawyer and an economist by…
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Added by John Doe Jr on August 9, 2009 at 8:30pm —
11 Comments
I just updated my net worth profile over at Networthiq. It's been a good 30 days between real estate and the stock market.
My net worth jumped 7% to $719K. That's my first time over $700,000.
As a recap, I need to average ~ 30% compounded annually to get to my number (~2.5% per month). Since January 09 my net worth has risen a full 41% keeping me ahead of my minimum pace. :-)
I know the rapid growth won't last and It'll c…
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Added by Jeff on August 7, 2009 at 10:00pm —
1 Comment
The
KC-inspired discussion on Rule # 1 Investing (thanks, KC!) has prompted me to create a new group right here, on Share Your Number, devoted to all-things-Phil-Town - well, at least to
his book: Rule # 1 Investing.
To kick things off, I am sharing some resources (including my ver…
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Added by Adrian on August 6, 2009 at 9:00am —
2 Comments
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Further to a comment I made on Diane's Comment Wall, I thought I'd broaden the number of people who could become aware of the idea through this blog-post.
Essentially this is what I said:
I especially like the way you took up the "4 hour workweek" idea that it might be quite possible to have a millionaire lifestyle when you have far less money - in the book he checked the prices and found it was quite possible if you went and visited Argentina, as a for instance.
You might be interest…
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Added by KC on August 1, 2009 at 11:00am —
2 Comments
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It's been mentioned a few times on here that people who want to become more familiar with trading stocks should consider opening a free account on a virtual stock exchange that uses real stock quotes but with pretend-money. This is often called…
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Added by KC on July 31, 2009 at 7:18pm —
1 Comment
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The "I will teach you to be rich" guy Ramit tells how to get a grip on your personal finances, where he guest-blogs on the "Four Hour Workweek" blog of Timothy Ferriss.
Automate a bulletproof personal finance system
Have any questions? Write it here to get an answer from the blog-poster.…
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Added by KC on July 30, 2009 at 2:32pm —
2 Comments
I'm not sure if you are following the discussion going on at the
forum of the Millionaires ... In Training! section of this site ... but, you should drop in from time to time as many 'tools' to help you find then reach Your Number will be found there.
For example, because I can't work out how to attach files here (but, for some reason the capability exists over there) I have attached a Sample Business Pl…
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Added by Adrian on July 25, 2009 at 10:00pm —
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The vehicle selected for my journey to 9 million in seven years is to start and manage a business, this selection is appropriate for the compounded annual growth rate necessary to achieve 9 million in seven years. The business I plan to start is essantialy a money managing business also know as a hedge fund (In the past several decades the title "hedge fund" has become more of a blanket title then an acurate description of how money is managed in most "hedge funds", because usually very little "…
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Added by Josh on July 25, 2009 at 11:20am —
8 Comments
Recently you may have noticed a short pause in the written activity of our "Share Your Number" blogs, there are some obvious reasons and some undetermined reasons for this. I'm not sure anyone has all the answers but let me tell you my take on what going on. All seven of us involved in…
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Added by Lee Martin on July 24, 2009 at 10:00pm —
2 Comments
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Michael Covel travels worldwide to ask finance professionals, and ordinary people, how the Credit Crunch has affected them, and why it occured.
Broke: the movie webpage…
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Added by KC on July 22, 2009 at 7:00am —
2 Comments
After some to'ing and fro'ing, I have finally decided that this IS going to be the new home of the Millionaires ... In Training! 'grand experiment'!
A couple of reasons:
1. This is a really important and powerful Community concept, so I want to nurture it and - with your help - grow it to its full potential as THE place on the web where like-minded people can help each other on their financial (and, Life Purpose) journey, and
2. A selfish - yet practical - reason: I'm finding it hard to maint…
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Added by Adrian on July 18, 2009 at 11:00am —
3 Comments
Rule #1 Investing - The First 30 Days of Reving the Growth Engine
First set of greeting cards ready just in time for Christmas.
Give a member a gift?
What do you do with ideas to improve existing products?
Why do you live where you do?
Millionaire lifestyle for less.
The Right Vehicle
