MONK traders

Quote from marketsurfer:




100% correct. it seems the more 'stuff' i acquire, the less real friends i seem to have. there is a mistaken notion that if you are succesful trading, it is easy, not deserved money. when i had a full time corporate job, and was also earning decent $ trading/ business on the side, i bought a new benz with some profits--- i was HATED by people who i thought were my friends. one guy almost hauled off and hit me in a jealous rage of some sort. fortunately, i was able to quit the corporate world soon after. no one tells you about this, untill you experience it for yourself. envy is a MAJOR MAJOR factor in human relations. excellent points , thanks for posting !

surfer:)
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Had the exact same experiance Surfer! I made a big hit in my mid twenties and bought a BMW. Paid cash. Greatest feeling there was, cause I didn't even own a car at the time. Literally the second night I had the car I was at the wedding of a good friend from high school. Perhaps I was looking a bit too cocky cause a fellow alum, a tough guy who had gotton great grades and had a good job, came up to me all wasted. He started asking me who the fuck I think I am, and he had to be restrained from seperating me from my teeth. Really freaked me out. Guess that was the first time I realized that class warfare is alive and well, albeit in the eye of the beholder. I'm sure that guy had to really chuckle that I burned through all that money by the time I was 30!
 
"It would be great to be able to finance some worthwhile charitable projects close to my heart now while I'm alive and after I'm gone. Make a difference in the world. Leave my mark. That, and a nice beach house to retire in."
To make some very long stories short these are the organizations I participate in:
http://www.911rape.org/contact/index.html. Every city has one. Imagine the trauma of a ten year old that's been brutally raped, the twisted life from that moment on.
http://childrenofthenight.org/site/team.html. Mostly runaway kids, usually abused by the parents, or just not wanted.
http://www.aprendamos1.org/ People aren't going to stop comming into the U.S. just because it's illegal. It's important to create learning facilities and opportunities for the children. What they carry forward is what the country will become. We have to "out market", so to speak ,the gangs and other influences that are in competition for their lives and by their very numbers are altering ours. It can be truly rewarding to put in a little time,a demonstration of caring can negate a lot of non caring. A few hours a week away from the tube and spent improving another who still has a chance can make us aware of the power we have and help us better focus it. The tax deductions for outright gifts to worthy orgs. are a nice aside. Nobody's going to take care of this country but us. That's the mark of a worthy citizen, not this punk bitching that goes on. But then again, it does take effort to actually participate.
Banjo
 
Quote from marketsurfer:




100% correct. it seems the more 'stuff' i acquire, the less real friends i seem to have. there is a mistaken notion that if you are succesful trading, it is easy, not deserved money. when i had a full time corporate job, and was also earning decent $ trading/ business on the side, i bought a new benz with some profits--- i was HATED by people who i thought were my friends. one guy almost hauled off and hit me in a jealous rage of some sort. fortunately, i was able to quit the corporate world soon after. no one tells you about this, untill you experience it for yourself. envy is a MAJOR MAJOR factor in human relations. excellent points , thanks for posting !

surfer:)
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Found this out the hard way too. It was very painful at first.:(
 
For those who want to donate or even start their own charity, please consider the third world. Your dollars will go to an incredible length there. For example, my old high school just finished donating $7000 to a village in Honduras which will be used to build a rather large elementary school.
 
>>.............................., could you expand on the “don't tell your kids that you've got a couple of bucks to your name” part too? How is it possible you not tell them. If you do not, probably you spouse will. How can you keep it a secret from your kids ? <<

And, if you decide to say give a property to your children so as to help them along, do you give it to them exclusively or do you put it in both your daugher's (or son's) name AND their spouse ?

If you put a property solely in your daughter's name, chances are that your son in law's nose gets out of joint. It may cause feelings in him of being left out, it may cause friction and, highly likely, arguments between the couple.

Never mind the fact that your daughter and your son in law suddenly have an additional income stream coming in before they even open their eyes in the morning. All of that is completely overshadowed by the feelings in your son in law of having been left out, feeling hurt, being a second class person.

Perhaps the son in law may be upset by the possibility that his wife (and your daughter) is now financially independent (and he can no longer lord it over her) who knows ?

What about it if you gave a property away even before you yourself were actually properly financially set up and if the property was put into two names (say daughter and son in law), and their marriage broke up.

Half of the property which you actually weren't quite ready to give away as yet will fly away. Nice feeling isn't it ?

What if you have a daughter and the property goes into two names, the marriage is O.K. but unfortunately your daughter falls ill and passes away. The husband becomes the sole owner of the property, marries again, then your ex-son in law dies and the property goes off in the direction of his second wife and your grandchildren finish up with nothing. Nice feeling ?

I am bringing this up because giving something away is one thing. The possible consequences of what happens after is something else.

THINK and THINK AGAIN before you actually do anything.

freealways
 
I want it all...nice house, nice car, nice lifestyle, travel to exotic locales...happy friends, parents that are taken care of, and a partner that feels financially safe...charitable contributions, patron of the symphony, time to give to others...time to myself, time to exercise, getting debt-free, the feeling of success that comes from running and minding your own business, the conquering of an incredibly difficult intellectual task, and the security of truly understanding your edge.

I want to be the fattest, richest, most philanthropic and sexy monk there is...

But right now, I am starting small...a nice condo, a reliable car, fairly content friends, tipping decently at restaurants, and I try to go to the symphony when I can afford it. :)

Balance, you know? And how you handle things as they are...
 
You guys/gals have created one of the most motivating threads I have ever read! I hope all my friends hate me some day....because right now they love my ass for being poor as a church mouse. :D

Congratulations if you have made it.....and never give up if you havent!

C.
 
Quote from AAAintheBeltway:

They say that golf reveals character but so does money.
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You hit it there bros.

As far as not telling your kids about wealth, take a lesson from some of the older folks around. They grew up in a time when humility was key. Think of how often you may have heard of an elderly person who has squirreld away cash, and no one was the wiser. Live far below your means, don't flaunt it - that goes a long way. Teach your children and their children the responsability of money. We have been lured into the notion that conspicous consumption is the only way to handle financial reward. If one does not reinforce the idea that "we got bucks to blow", and thus proactivally intercede in the financial education of our families, rather than allowing societal programming of instant gratification- the chances would appear slim that one would need worry about their children squandering finances. Certainly, an interesting topic, and one that concerns me looking to the future.

I would be very interested to here any of your thoughts in terms of spouses. Being single, and knowing what I want, the compatible lady for such a life is rare. How do/did you all balance your trading with wives and girlfriends? How did you meet them, and introduce them to your financial pursuits? This is quite a challenge for a young guy like me, just trying to get established. Certainly, others have similar thoughts.

gordo
 
Quote from gordo:



I would be very interested to here any of your thoughts in terms of spouses. Being single, and knowing what I want, the compatible lady for such a life is rare. How do/did you all balance your trading with wives and girlfriends? How did you meet them, and introduce them to your financial pursuits? This is quite a challenge for a young guy like me, just trying to get established. Certainly, others have similar thoughts.

gordo
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Gordo.....she will love you for yourself. Women are like that. Don't get bogged down in the details. Go out and find her.
Cathy
 
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