Dear (Rich) Millennial

Today we tackle on of the simplest of all questions in the world of investing:  Which is more important in the pursuit of becoming “rich?”

a)  Having a big pile of money when young, or…

b)  Having a plan for modest returns over a very long timeframe?

If you can look up from texting for a moment, some things to think about…Along with a link to the Warren Buffett  live stream this morning…

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Comments

Dear (Rich) Millennial — 11 Comments

  1. What is going to drive the markets for that extended period noted in the scenario presented?

    The fed isnt printing like they were. Inflation is outrageous… More people to become unemployed and replaced by robots…so where are consumers going to get the cash to drive the economy to new much higher highs?

  2. This is the time right now to be thinking about winter what are you going to be doing in winter that’s what farmers do they figure out what they’re going to be able to put up for the winter but if you’re not a farmer and I’m not a farmer either but I have some land but anyway the idea is what are you going to do for winter with the money that you have coming in right now I mean you had some tax money refund what did you do with that okay what I’m going to tell you this it’s called a heater I have a 4000 Watt and a 1500 watt heater in one room so that room takes 5 minutes and Bam it’s warm warm enough to do whatever I want to do and these heaters of had for going on 2 years and I recommend them because I’ve had other heaters that don’t work so I’m going to give you the model number and stuff of the heaters and you can take that to the bank for some of you all you’re saying what why do I need a heater I have central air I have this or I have that because why would you want to heat your whole house up when all you have to heat is one room at a time I mean if you had a bathroom you can just go in and turn the heat on momentarily while you’re there how are you going to be there so it doesn’t need to be heated throughout the day neither does the bedroom neither does any other part of the house the only part that you want to eat is the part you’re living in and then we get to the point where all well I guess we can put on our thermals put on her clothes put on her jacket and if it gets real cold put on her big coat and I gloves NR hat right that’s how you save money on the electrical thing there are no urban survival is about living without the things that they provide you with and still feel uncomfortable that’s what that’s all about I mean you know if it does not mean you have to cut your electricity off it just means that you would custom yourself to a different type of living scale or a different type of you know how you feel about yourself do you just want to have a 24 hour thing where your temperature is just right and your pan beaucoup bucks for that or do you want to feel like hay I can survive even without the electricity because I have a sleeping bag that’s inside another sleeping bag that’s inside a big piece of plastic so I can go out into the Wilderness and survive 40 below zero that I want as my urban survival one of my techniques what’s in your bag and how do you practice what you preach

  3. The other one that you didn’t mention without p.m. I’ve used it a couple times and it works is when you use other people’s money when you have an idea another people want to invest in that idea because they’re going to make something from their money on your idea

    • OPM= other people’s money it may be the old man Rothschild himself is Lending it to you or it may be your relative or it may be someone in your neighborhood

  4. An excellent article.

    I didn’t learn that till after I had reached the tipping point.
    I was to busy trying to raise and support a family deluged by medical expenses and the ever rising cost of living and mediocre wages that put a wall on saving.

    What about age and total compounding periods?
    If there is an average between seven and ten compounding periods where your money doubles then as you age wouldn’t you have to increase your investment to meet goals?

  5. The urban survival bunker secretly hidden underneath the earthship will bring your sale price from $200,000.00 to $1,171,000.00.
    Contractors cannot keep with demand

  6. Hey Mr. Ure,

    Very interesting article! I would have never known to have a minimum 4% to even keep my purchasing power. Though it is awesome to see compounding interest at work! I hope to have millions set aside for retirement but how can i do this during the Greater Depression? So i can set up for retirement during this coming era?

    • The real trick is to have a program that saves money – month in and month out – all the time.
      Also, when you get to a Depression, remember you don’t have to MAKE money because during these intervals, having cash works great.

      Say you had 1000 in 1929. By 1933, that would have an amazing 30% more purchasing power because the general prices had fallen by 25%. To buy in 1933 what cost 1000 in 1929 was down to $753.50

      So when you get into a REAL depression, all you have to do is find a safe parking place and you have a leg up. Banks are likely to be risky, and that’s why we have a TreasuryDirect.gov account because even in the last Depression with some municipal bonds and such, the federal bonds were never called. though they paid little – that’s better than in a failing bank.

  7. George,
    Your chart said “did not flip to cash.” I remember when you went from short to cash. When did you go long? I’ve lost track and could not find it in the last few peoplenomics reports.
    Thanks,
    Dan

    • While I am generally guided by the Peoplenomics Oscillator (and it avoids overtrading my account) I still will drop to cash when there is a risk of a turn at what I think inflection points may be.
      This year, to date, I have completed 14 transactions in my “trading” account. This is 7 “round turns” YTD and of these 5 were money-makers, two were not.
      The reason I don’t post by entries and exits is that to do so would make it possible to claim I am offering financial advice rather than simply offering analysis of markets.
      That said, my latest long entry was May 1st.
      You can look at the daily Aggregate work which now shows the apparent new trend channel and I think you’ll see why I expect to remain in this position until we get up closer to S&P 2450, ort so. At which time, we’ll plug in the brainamp spreadsheet (in the Master Index for subscribers) and run out whether that’s all of Wave 5 or if what we are in is a larger 1 of V with lots more to go.
      Hope that explains it a bit… not financial advice…just theory of markets I’ve evolved.