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A place for Get Rich Slowly readers to ask questions
and exchange ideas
It is currently Thu May 05, 2016 6:44 pm



Viewing profile - kombat

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kombat
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Joined: Tue Mar 11, 2008 12:19 pm
Last visited: Thu May 05, 2016 11:36 am
Total posts: 1930
[2.18% of all posts / 0.65 posts per day]
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Most active forum: Personal Finance
[ 1326 Posts / 68.70% of user’s posts ]
Most active topic: ObamaCare (+Tangents Evolution, Religion, & Global Warming)
[ 33 Posts / 1.71% of user’s posts ]

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Location: Ottawa, Canada
Occupation: Computer programmer
Interests: Photography, finance
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kombat Posts

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 Forum: Tips, Tricks, Links, Pointers   Topic: How to buy the house of your dreams

Posted: Thu May 05, 2016 9:44 am 

Replies: 6
Views: 17


Lots of problems with this idea. #1: You're forced to pack everything up and move every 2 years. #2: It ignores increases in the values of the homes. You may buy for $50k, but when you go to sell 2 years later, it may have increased in value to $60k, meaning a bigger down payment for the next house....

 Forum: Tips, Tricks, Links, Pointers   Topic: Ever use the Rule of 72?

Posted: Thu May 05, 2016 6:31 am 

Replies: 8
Views: 9387


You don’t help a friend by giving them charity or a hand out. I would much rather teach them financial security and sit down going over finances (credit, expenses, etc) and help their future. So you would prefer a relationship where you play the role of the wise mentor, and your "friend" ...

 Forum: Personal Finance   Topic: Pay Off Car Loan vs Savings vs Investing

Posted: Wed May 04, 2016 10:31 am 

Replies: 17
Views: 1771


I know my parents would lend me money, if I asked, because they love me.

They know I would never ask, no matter what, because I love them.

Grownups don't rely on the goodwill of others as a substitute for their own financial responsibility.

 Forum: Personal Finance   Topic: Pay Off Car Loan vs Savings vs Investing

Posted: Wed May 04, 2016 7:44 am 

Replies: 17
Views: 1771


Gifting is one thing - loans are another thing entirely. I would have no problem gifting money to a friend/relative who was truly in need, but there would be no expectation of it ever being paid back. Indeed, we would refuse a payback. We would make it clear that it is a gift. Loans, however, poison...

 Forum: Tips, Tricks, Links, Pointers   Topic: Ever use the Rule of 72?

Posted: Wed May 04, 2016 7:40 am 

Replies: 8
Views: 9387


It helps me determine if I take an interest rate at 5% from the bank for an investment venture, put money in a savings account (0.1-1%), how much to lend money to a friend (8-15%) I would never lend money to a friend. What do you do if they miss a payment? Complain about the interest rate? Lose the...

 Forum: Personal Finance   Topic: Pay Off Car Loan vs Savings vs Investing

Posted: Wed May 04, 2016 6:18 am 

Replies: 17
Views: 1771


Borrowing money from friends and family is an absolutely terrible, terrible idea. It drives a wedge between relationships. I also agree with Vintek: Grown ups stand on their own feet and don't rely on Mommy and Daddy to bail them out into adulthood. Mommy and Daddy made their own way - you should too.

 Forum: Fiscal Fitness Journals   Topic: My journal and the long way to financial freedom

Posted: Wed May 04, 2016 4:25 am 

Replies: 7
Views: 487


This is exactly why I push back against those who claim that investing in real estate is strictly superior to investing in the equities markets. They point to the potential for higher return on investment, but ignore the increased risks (interest rate risk, bad tenant risk, lack of diversification r...

 Forum: Personal Finance   Topic: Student Loan / Mortgage Question

Posted: Thu Mar 31, 2016 11:00 am 

Replies: 5
Views: 1199


It sounds like you've already done it, but I would have recommended that you not do this. As mentioned, you're converting unsecured debt into secured debt. Meaning if you get into trouble, you could potentially lose your home. Also, that's a tremendous amount of debt. What are your degrees in? Why d...

 Forum: Personal Finance   Topic: Should I Invest Long Term or Short Term?

Posted: Tue Mar 29, 2016 4:37 am 

Replies: 8
Views: 3254


I agree that most short term investments end up being a scam or not that great but day trading for example can be very profitable Or you could lose everything. Too risky for most people, too complicated for all but experts. If you're good, and lucky, you might make some money, for a while. But even...

 Forum: General Discussion   Topic: New To The Internet Marketing Business

Posted: Tue Mar 29, 2016 4:36 am 

Replies: 1
Views: 2343


db4l2977 wrote:
If anybody knows of any good training programs with video tutorials on how could put an extra $200 a day in my pocket, please let me know.


So, an extra $73,000/year? That's all you're looking for?

 Forum: Personal Finance   Topic: Should I Invest Long Term or Short Term?

Posted: Wed Mar 23, 2016 4:19 am 

Replies: 8
Views: 3254


If it seems too good to be true, it is.

It's a scam. Your friends are suckers at best, or snakes trying to take advantage of your naiveté at worst.

 Forum: Personal Finance   Topic: How Magic the Gathering has made me more wealthy

Posted: Wed Mar 16, 2016 4:17 am 

Replies: 24
Views: 16391


Which, surprisingly, isn't hard. Most players surprisingly dense. First of all, it only takes one player to figure out how to "break" a card. Second of all, the most valuable cards are not ones that are surprisingly good - they're the ones that are painfully obviously good. Like Black Lot...

 Forum: Personal Finance   Topic: How Magic the Gathering has made me more wealthy

Posted: Tue Mar 15, 2016 10:49 am 

Replies: 24
Views: 16391


And all you have to do is recognize game-breaking cards before everyone else. Sounds pretty foolproof.

 Forum: Personal Finance   Topic: Where to Begin

 Post subject: Re: Where to Begin
Posted: Wed Feb 24, 2016 6:48 am 

Replies: 18
Views: 2693


Tomorrow I’m going out of town to visit my 31 year old best friend, her 57 year old husband and their 11 month old healthy baby boy. She’s 6 months pregnant with her 2nd child, a girl (yes, they planned it that way, just like they planned their first one when he was conceived right after their hone...
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