Science of Getting Rich

[justusranvier]

- Real estate is cheap because of the housing crash. (remember that saying, buy low, sell high?  Well now is the "buy low" period!)

Not by a long shot. House prices are still far too high.

"Low" for house prices means below the non-bubble prices, which for many decades meant the average house price in an area was no more than three times the average income in the area, with buyers expected to put 20% down and acceptable backend ratios.

[1713997353]

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[1713997353]

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[SgtSpike]

- Real estate is cheap because of the housing crash. (remember that saying, buy low, sell high?  Well now is the "buy low" period!)

Not by a long shot. House prices are still far too high.

"Low" for house prices means below the non-bubble prices, which for many decades meant the average house price in an area was no more than three times the average income in the area, with buyers expected to put 20% down and acceptable backend ratios.

At least in my area, we're getting close to that.  Average home price is $194k, average family salary is $49k, so just under 4x average salary.

Also, don't forget that land is a finite resource.  Land didn't used to be nearly as valuable as it is now, but cities are tightening up on the amount of land they allow to be used for residential and commercial usage.  I wouldn't expect us to ever dip back down to the 3x average income rate again, just because build-able land is becoming more and more scarce, and will only continue to do so absent some worldwide plague or nuclear war that reduces the world population significantly.

[Richy_T]

- Real estate is cheap because of the housing crash. (remember that saying, buy low, sell high?  Well now is the "buy low" period!)

Not by a long shot. House prices are still far too high.

"Low" for house prices means below the non-bubble prices, which for many decades meant the average house price in an area was no more than three times the average income in the area, with buyers expected to put 20% down and acceptable backend ratios.

+1.

[jojo69]

WARNING!!!

OP link JESUS ALERT!

[mobodick]

~ 1:20

"purpose of nature is the advancement and unfolding of life"
no

Since when is nature not about surviving and reproducing?
 

[Adrian-x]

- Real estate is cheap because of the housing crash. (remember that saying, buy low, sell high?  Well now is the "buy low" period!)

Not by a long shot. House prices are still far too high.

"Low" for house prices means below the non-bubble prices, which for many decades meant the average house price in an area was no more than three times the average income in the area, with buyers expected to put 20% down and acceptable backend ratios.

At least in my area, we're getting close to that.  Average home price is $194k, average family salary is $49k, so just under 4x average salary.

Also, don't forget that land is a finite resource.  Land didn't used to be nearly as valuable as it is now, but cities are tightening up on the amount of land they allow to be used for residential and commercial usage.  I wouldn't expect us to ever dip back down to the 3x average income rate again, just because build-able land is becoming more and more scarce, and will only continue to do so absent some worldwide plague or nuclear war that reduces the world population significantly.

http://www.crackshackormansion.com/

The average price of a house is around $1,000,000 in Vancouver and the average salary is around $45K, I think the problem is lack of innovation; one solution would be to sleep about 7 people per room.

Now I don't feel privileged any more . 

Yes the demand to rent is high and the property is finite so the average Vancouverite spends over 50% of their income on rent. In Vancouver anyway, there is no free market on land anymore, it is now an oligopoly (more practically a monopoly).  This is the antithesis of free, looks a little like voluntary slavery.
 
As for investments I will go with 30% rated dividend paying stocks including banking stocks.
The rest is invested in me as a struggling entrepreneur.
My savings are the Bitcoin my rigs produce; (while I see cryptocurrency just like Bitcoin as the solution) I can't intellectually invest more in Bitcoin because of the problems I see in its distribution, this is the ultimate adoption problem. ( it is all good and well me mining a bunch and will only sell when I make good return, but this action is the action that will prevent people from parting with their Bitcoin hence adoption will be slow.)     

[SgtSpike]

- Real estate is cheap because of the housing crash. (remember that saying, buy low, sell high?  Well now is the "buy low" period!)

Not by a long shot. House prices are still far too high.

"Low" for house prices means below the non-bubble prices, which for many decades meant the average house price in an area was no more than three times the average income in the area, with buyers expected to put 20% down and acceptable backend ratios.

At least in my area, we're getting close to that.  Average home price is $194k, average family salary is $49k, so just under 4x average salary.

Also, don't forget that land is a finite resource.  Land didn't used to be nearly as valuable as it is now, but cities are tightening up on the amount of land they allow to be used for residential and commercial usage.  I wouldn't expect us to ever dip back down to the 3x average income rate again, just because build-able land is becoming more and more scarce, and will only continue to do so absent some worldwide plague or nuclear war that reduces the world population significantly.

http://www.crackshackormansion.com/

The average price of a house is around $1,000,000 in Vancouver and the average salary is around $45K, I think the problem is lack of innovation; one solution would be to sleep about 7 people per room.

Now I don't feel privileged any more . 

Yes the demand to rent is high and the property is finite so the average Vancouverite spends over 50% of their income on rent. In Vancouver anyway, there is no free market on land anymore, it is now an oligopoly (more practically a monopoly).  This is the antithesis of free, looks a little like voluntary slavery.
 
As for investments I will go with 30% rated dividend paying stocks including banking stocks.
The rest is invested in me as a struggling entrepreneur.
My savings are the Bitcoin my rigs produce; (while I see cryptocurrency just like Bitcoin as the solution) I can't intellectually invest more in Bitcoin because of the problems I see in its distribution, this is the ultimate adoption problem. ( it is all good and well me mining a bunch and will only sell when I make good return, but this action is the action that will prevent people from parting with their Bitcoin hence adoption will be slow.)     

Ah, yes, I've heard of the crazy housing prices in Vancouver, and can understand the reluctance to invest in the market there.  I should have asked where you live first. 

Regardless, is there anyplace in Canada that does not have such insane housing prices that you would feel comfortable investing in?  Or would it be possible for you to invest in real estate in the US?  I am uncertain regarding any regulations surrounding that.

I suppose my only other suggestion is putting some investment into the precious metals as a hedge, though I expect those won't do so well when economies begin the turn around.

[DoomDumas]

Want to get rich, invest in the market of purest graphite mine, those pure graphite mine will be so in demand soon, because the purest graphite is needed to make affordable GRAPHENE !

wath this : http://www.youtube.com/watch?v=SXmVnHgwOZs&feature=colike

[niko]

http://youtu.be/ub0Th1ewlws?t=58m
Bullshit.

My ears are bleeding. Yes, thank you God, you are so great.
This has been written in the early 1900s and published in 1910. Just a reminder.

~ 1:20

"purpose of nature is the advancement and unfolding of life"
no

"to be content with less is sinful"
Calvinism? I'm out.

Yes, and yes. Five minutes into it I couldn't stand the pathetic shallowness any more.

[#machinist]

Get Rich or Die Mining 

[Liquid]

I dont know if everything is true but its probably the fame of mind you have to be in if you want to get rich lol

[phelix]

~ 1:20

"purpose of nature is the advancement and unfolding of life"
no

Since when is nature not about surviving and reproducing?
 

people can say nature has this or that purpose but by itself it has none (that we know of). and btw: a tree does not want to survive. It simply does - or not. Evolution is mostly a passive process.

[mobodick]

~ 1:20

"purpose of nature is the advancement and unfolding of life"
no

Since when is nature not about surviving and reproducing?
 

people can say nature has this or that purpose but by itself it has none (that we know of). and btw: a tree does not want to survive. It simply does - or not. Evolution is mostly a passive process.

Even truer!

[Pteppic]

Robert Kiyosaki always struck me as the worst kind of false-hope peddler. He got rich by riding a boom in housing that isn't going to be repeated any time soon and then tells everyone else that they could do the same when they obviously can't. He also wants to become a billionaire in his lifetime. Really? Is there nothing he actually wants to do with all the money except accumulate more?

In case that sounds like sour grapes, there are other get-rich-quick books I have enjoyed (like The 4 hour Work Week), but Rich Dad Poor Dad really didn't impress me.

[phelix]

~ 1:20

"purpose of nature is the advancement and unfolding of life"
no

Since when is nature not about surviving and reproducing?
 

people can say nature has this or that purpose but by itself it has none (that we know of). and btw: a tree does not want to survive. It simply does - or not. Evolution is mostly a passive process.

Even truer!

[DreDri]

The link is dead and I couldn't find a mention in the thread - could someone tell me who the author/orator in the OP is?

Dankss

[Flowz]

The link is dead and I couldn't find a mention in the thread - could someone tell me who the author/orator in the OP is?

Dankss

Here is the digitaly written copy:
http://images.thesecret.tv/The-Science-of-Getting-Rich.pdf

Flowz

[DreDri]

Thanks Flowz, I remember this now. Six years later, maybe I should look over it again because I'm still not rich..

[meebs]

http://www.youtube.com/watch?v=ub0Th1ewlws

Just listened to the whole thing really interesting if you have time i do recommend it 

In order to become rich all you need is a pen and a paper.

If you can write good books, movies, etc you can become rich.
If you can play soccer, run or box you can become rich.
If you can sing like a star, you can become rich.
If you can entertain with your humor, you can become rich.
If you can paint.

All of these are things you can learn or do for free.

It is a matter of being good at something.. making a product/service that people want and then convincing lots of people to give you money.

Its just the last part is the tough one....

[Crypt_Current]

http://www.youtube.com/watch?v=ub0Th1ewlws

Just listened to the whole thing really interesting if you have time i do recommend it 

In order to become rich all you need is a pen and a paper.

If you can write good books, movies, etc you can become rich.
If you can play soccer, run or box you can become rich.
If you can sing like a star, you can become rich.
If you can entertain with your humor, you can become rich.
If you can paint.

All of these are things you can learn or do for free.

It is a matter of being good at something.. making a product/service that people want and then convincing lots of people to give you money.

Its just the last part is the tough one....

This is part of the impetus behind better education for young people (teaching them alternatives such as the Austrian School) and more socialization in general.  Getting to know each other better, so that the transactions between us become of a higher quality.  Conversing honestly, responsibly, diplomatically and logically correct.  Using our words and language (this awesome forum for communications we know as the interwebs... Is THIS really true???  consider this:  Only 20 years ago, when we answered our phones, most of the time we had NO CLUE who was going to be on the other end.  Now:  We have electronic forums, catered and specialized to whatever interest we fancy to google up, and instant access to highly knowledgeable people that we converse with just as the person sitting next to me on the couch, yet we have no clue who each other is.  We have no clue who we are, STILL, but we are learning and even creating who we are) --
One method boiling down to sales tactics:  A good salesperson has to know the customer well enough to know precisely their demands; the more detail, the more chance of a sale.  And the product is you, and me; well, our labor and products/services. But this time, our products/services will NECESSARILY HAVE TO BE what WE personally choose for ourselves -- this will be the only way to be compatible with the coming new aeon (or whatever - there's huge change coming; if you can't smell it, you have no nose).
 Bottom line:  Decentralization and individual direct ownership and management of our own labor, labor that we choose based on our preferences and not imposed upon us by external pressures to pay ever-increasing interest on loans just for basic amenities of life... That decentralization and individual ownership is imminent, and it will be a direct product of technology that will by that time be past the point of no return, and NOT any political agenda and certainly no religious / national decree or government legislation.  The change will be worldwide and profoundly personal, in the sense that when we prepare for our work, when we get ourselves pumped/stoked/psyched for our day, there will be a personal process of introspection that will be absolutely fundamental to successful sales of an individual's product of his/her/its chosen profession.  <-- This, as opposed to the grim depersonalization involved in the pumping/stoking/psyching process most of us are familiar with, just to cater to something would not have chosen had it not been for those imposed artificial externalities.
We will finally be free to be ourselves.  Hell, we ARE.  What a ramble.