Silver Stackers logo

Silver Stackers

Discussion forum for those
who love to stack precious metals

You are not logged in.

Announcement

Forum registration is closed. It will reopen on Monday.

#51 2012-12-16 07:26:38

mmm....shiney!
Silver Stacker
From: 昆士蘭
Registered: 2010-11-15
Posts: 15,893
Trades :   102 
Website

Re: Richest Man in Babylon

The most difficult part is getting to be a vendor in the first place. Before being a vendor you would probably have to be a debtor, or win lotto, saving alone is unlikely to get you there.


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

Offline

#52 2012-12-16 08:31:33

goldpelican
Administrator
From: Aust/USA
Registered: 2009-06-29
Posts: 17,984
Trades :   153 
Website

Re: Richest Man in Babylon

There seems to be a plethora of sites out there spruiking vendor financing as a wealth creation tool - but lots looking to charge for the knowledge. Seems to be a pretty straightforward formula of finding a buyer that will pay rent or instalments higher than the mortgage repayments that you as the seller are liable for - generating positive cash flow on a property. Rinse and repeat.


My posts on Silver Stackers are either personal opinion or acting in the capacity of site administrator. Opinions offered do not constitute professional or financial advice.

Offline

The following 2 users say thank you for this post: wrcmad, gcsun

#53 2012-12-17 09:56:54

nonrecourse
Member
From: Melbourne Australia
Registered: 2011-07-11
Posts: 1,628
Trades :   

Re: Richest Man in Babylon

goldpelican wrote:

There seems to be a plethora of sites out there spruiking vendor financing as a wealth creation tool - but lots looking to charge for the knowledge. Seems to be a pretty straightforward formula of finding a buyer that will pay rent or instalments higher than the mortgage repayments that you as the seller are liable for - generating positive cash flow on a property. Rinse and repeat.


Yep lottsa sheeple out there willing to pay big money to learn how to suck eggs. When it comes to investing its paralysis by over analysis. Borrowing or lending just terrifies them. As the Spannish say... No hay cojones roll

Kind Regards
non recourse

Offline

#54 2012-12-18 00:45:37

Stevo04
Member
From: United States
Registered: 2012-12-18
Posts: 10
Trades :   

Re: Richest Man in Babylon

New to forum and overall new to investing. Been in workforce for 2 yrs and as of now I've invested mostly in only agriculture. I have a little silver and gold but rdy to do as much stacking as I can. I have 2,000 a month to invest which is roughly 20% of paycheck. I've read a good bit and after reading this forum have a lot more reading to do. My question is how should I invest. Should I go all out in gold or silver. Or should I somehow split and try to get both. I'm buying to eventually sell, not stacking for end of days. Am though keeping some for eventual collapse of dollar. Will be more informed next time I post. Thnx all

Offline

#55 2012-12-18 02:30:56

nonrecourse
Member
From: Melbourne Australia
Registered: 2011-07-11
Posts: 1,628
Trades :   

Re: Richest Man in Babylon

Stevo04 wrote:

New to forum and overall new to investing. Been in workforce for 2 yrs and as of now I've invested mostly in only agriculture. I have a little silver and gold but rdy to do as much stacking as I can. I have 2,000 a month to invest which is roughly 20% of paycheck. I've read a good bit and after reading this forum have a lot more reading to do. My question is how should I invest. Should I go all out in gold or silver. Or should I somehow split and try to get both. I'm buying to eventually sell, not stacking for end of days. Am though keeping some for eventual collapse of dollar. Will be more informed next time I post. Thnx all


Before you do anything read this;

http://www.barnesandnoble.com/w/investi … 1100727436

Kind Regards
non recourse

Offline

#56 2016-01-14 06:13:38

Apis Mellifera
New Member
From: London
Registered: 2016-01-09
Posts: 9
Trades :   

Re: Richest Man in Babylon

I really like this book and has some great stacking tips smile

An audiobook is also on youtube at the moment and is superhandy during a commute.

https://youtu.be/qmYvw7wOUQI

Here is 'The Five Laws of Gold' (one chapter of this little book)


1. Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family.

In other words, a person should put away 10% of his or her income for the future as a bare minimum. This rule is so incredibly fundamental, yet only a small minority even bother to follow it.


2. Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.

If you invest your money well, your money will simply make more money. Again, a very simple and obvious rule, but one that many people never get to because they didn't follow the first rule.

3. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.

This rule encourages cautious investing, or at least encourages the investor to at least be informed.

4. Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those who are skilled in its keep.

This goes hand in hand with the third rule: if you invest in stuff you don't understand, you're likely to lose money. Don't buy the latest "hot stock" or "numismati" investigate and invest before you part you part your earning.

5. Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment

Offline

The following 2 users say thank you for this post: yennus, mmm....shiney!

#57 2016-01-14 06:35:16

wrcmad
Silver Stacker
From: Northern NSW
Registered: 2012-01-02
Posts: 6,100
Trades :   118 

Re: Richest Man in Babylon

nonrecourse wrote:

Its called vendor finance. It is neither illegal or difficult

No offense NC, I mean nothing personal in this.
Vendor finance - It's neither illegal or difficult to be a [email protected]


Anything is possible, but not everything is probable.  wink

Manipulation..... If you want to continually subscribe to this idea then get out of precious metals. Only a fool would play a game that is completely rigged. As you still are in the game, I would say that you are not completely convinced of the manipulation ...

Offline

#58 2016-01-14 08:07:15

plata
Silver Stacker
From: Melb.
Registered: 2011-04-16
Posts: 498
Trades :   67 

Re: Richest Man in Babylon

I say to the young people:
-save 20%, do not touch  for a long term (10years), this money does not exist for you until that time
-give 10%to 20% to your parents, not because they need it (some will), but as a token of appreciation, just being grateful
-you can live with 60-70%, do not be a spender.

some of them had done it, others couldn't be bother, once the money comes in their hand they evolved a bit to greedy.

Every one has different situations, but for the single guys is doable.
-


Plata is for Silver in Spanish

Offline

The following user says thank you for this post: mmm....shiney!

#59 2016-01-14 08:31:11

Revils
Silver Stacker
From: Australia
Registered: 2013-06-20
Posts: 844
Trades :   53 

Re: Richest Man in Babylon

I aim for rent under 20% of our dual Net income (currently about 18%)
Aim to save 80% of second income (paid roughly the same)
Basically try to live so that if one of us couldn't work it'd just mean no savings for that period (and not eat in to savings)

Offline

The following 2 users say thank you for this post: mmm....shiney!, renovator

#60 2016-01-14 10:24:45

errol43
Silver Stacker
From: Bundaberg
Registered: 2010-04-13
Posts: 6,324
Trades :   

Re: Richest Man in Babylon

Start off with $10 and double it 20 times...

Regards Errol 43

Offline

Board footer

Powered by FluxBB