Agreed, I have mistyped the title a little. I would love to read any type of stories, from unprofitable to profitable etc.
Share your Rags to Riches stories
- Thread starter iamnewuser911
- Start date
Years ago I began my investing career with $25/mo into Templeton Growth Fund.
Today, thanks the the Fed, I've got $25/mo income which I cannot possibly outlive. Can't beat that!!
Today, thanks the the Fed, I've got $25/mo income which I cannot possibly outlive. Can't beat that!!
Do u make the bulk of your living from trading or from "communicating about the markets"? Is the communication business some sort of tipsheet?
I take it you progressed from regular fund deposits to managing your own investments and subsequently progressed to shorter term trading?
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LOL. That's actually true in my case. In fact, this is my hometown: http://www.cnn.com/2013/10/29/opinion/sutter-lake-providence-income-inequality/
Every-time we share any stories people attack us, what's the use? To be respectful to the OP, its very hard to open up when there are people here who will attack honest members telling you the truth. Why is that, are they jealous that there are some people like MS who can make money consistently or just angry? If you can answer that, many more will open up stories for you, I can tell you one about my good friend, it's a rags to riches story(Not Donald Trump rich, if Mr. Romney is not rich, who is?).
In the very late 1980s and early 1990s a company sent out a flier to anyone that requested information about their stock, a paid adverstisement in the back of Individual Investor and Smart Money magazine. David liked what he read, he had no idea what their technology did but thought it was the future and started buying stock using Lombard Brokerage each month he added to his company's stock(they gave a 10% discount and matched you dollar for dollar up to a certain threshold). mutual funds and bought more stock. This went on for years and after investing $50,000 of his and his wife's money their stock got bought out by Lucent. When Lucent(JD Uniphase, oops) bought out their stock, they got professional tax advice that allowed them to create a way to smooth out these capital gains. Can you guess which stock they bought and how much money they made? He worked at a store, she worked as a dental hygienist and after they became rich they got a divorce, she kept her cash in Lucent while he decided to invest in old cars. Having no kids, they went their separate ways.
Strange thing about money, money never changed him but his wife turned from a sweet women to a real hag! She left him after taking her share of stock after Lucent bought out this tech company, he sold out "because it was not the same local friendly company that sent out newsletters about itself and their technology." Growing up dirt poor, getting free school lunches and breakfasts helps give them a better perspective than people who grew up rich. He literally lived in rags, section:8 housing, food stamps and flees and cockroach apartments run by slum lords paying off government officials to look the other way.
When Costco paid their $5 per share dividend early this year, his dividend was over $250,000 easily. I saw his 401k plan he's been saving since employees were able to buy stock from the Price-Club.
Extra points if you can tell what stock got bought out by (Not Lucent, it wasJD Uniphase, he instant messaged me I had the wrong company) and made this husband-wife couple break-up and go their own ways.
In the very late 1980s and early 1990s a company sent out a flier to anyone that requested information about their stock, a paid adverstisement in the back of Individual Investor and Smart Money magazine. David liked what he read, he had no idea what their technology did but thought it was the future and started buying stock using Lombard Brokerage each month he added to his company's stock(they gave a 10% discount and matched you dollar for dollar up to a certain threshold). mutual funds and bought more stock. This went on for years and after investing $50,000 of his and his wife's money their stock got bought out by Lucent. When Lucent(JD Uniphase, oops) bought out their stock, they got professional tax advice that allowed them to create a way to smooth out these capital gains. Can you guess which stock they bought and how much money they made? He worked at a store, she worked as a dental hygienist and after they became rich they got a divorce, she kept her cash in Lucent while he decided to invest in old cars. Having no kids, they went their separate ways.
Strange thing about money, money never changed him but his wife turned from a sweet women to a real hag! She left him after taking her share of stock after Lucent bought out this tech company, he sold out "because it was not the same local friendly company that sent out newsletters about itself and their technology." Growing up dirt poor, getting free school lunches and breakfasts helps give them a better perspective than people who grew up rich. He literally lived in rags, section:8 housing, food stamps and flees and cockroach apartments run by slum lords paying off government officials to look the other way.
When Costco paid their $5 per share dividend early this year, his dividend was over $250,000 easily. I saw his 401k plan he's been saving since employees were able to buy stock from the Price-Club.
Extra points if you can tell what stock got bought out by (Not Lucent, it wasJD Uniphase, he instant messaged me I had the wrong company) and made this husband-wife couple break-up and go their own ways.
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It's a combination. I have found active trading to be feast or famine depending on the market regime at the particular time-- my experience with numerous other traders and investors has shown that this up and down pattern to be quite common--- however, no one really likes to admit it. It is smart to have other sources of income particularly if you have responsibilities and don't have $50 million banked.
No, I ghost write for financial folks who need their ideas simplified so the average guy can understand what is being explained-- among other projects. I enjoy it and i can travel while earning coin. I am also in the hedge fund business in several capacities.
peace--surf
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I'll admit I'm relatively new to this 'game'...
I didn't come from the kind family that dabbles or invests in the markets.
...If it wasn't for the for Housing boom/Market collapse of 2008/2009 ...which was making major news headlines everyday of stocks rising and falling 10%+...I would have never been here right now.
I was thinking to myself back then...Damn, my bank pays me shit...if I could capture one of those waves...in just One day, vs what it would take me years and years and years with the savings rate.
I don't trade stocks no more; I trade options now.
Enough...never seems to be...enough. ... -- you keep on going
...successful people never rests....it's the lazy/dumb people...that tell themselves...if i only make this one big score -- i'll be set for life, and retire on the beach.
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