The way we are headed

Discussion in 'Current Events' started by DKSuddeth, Jan 13, 2004.

  1. DKSuddeth
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    DKSuddeth Senior Member

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    With the global market and economy headed in the obvious direction that it is, I have been wondering of late what it is that I, and most others, must do to improve our personal financial situations and not only survive (which is hard enough to do nowadays) but to thrive.

    With manufacturing still hemorhaging jobs and the service sector flying to other countries, it is increasingly difficult to find employment at or near the same salary one was used to making. I base this on my own experience, as well as some close friends and family, but also on alot of the reports in the news. So what is there to do?

    Stock Market and Investments. I believe that this is where wealth is going to be accumulated. The big problem with this is that it seems to be something of a 'good ole boys' club. What I mean by that is if you don't have the money to begin with, you're not going to be able to participate in it to the degree you need to in order to 'thrive'.

    So how does one go about overcoming that obstacle? Its easy to say you have to build it a little at a time, but lets be realistic folks. That approach is not going to benefit us in this lifetime. It might do good for your grandkids, but only so long as your kids don't blow it.

    Does anyone else see a different path that the economy is going to take or am I going to be lambasted with snide remarks? Also, if you DO have good ideas, post them. I'd like to hear them.
     
  2. rtwngAvngr
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    rtwngAvngr Guest

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    DK,
    Despite the late night ads, real estate is a good way to make money. The most conservative investors only buy real estate. I haven't bought anything, but I plan on it. Slumlord, a bold new dream!
     
  3. rtwngAvngr
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    rtwngAvngr Guest

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    plastics?

    If real estate or plastics doesn't work for you, then there's really no other choice than fullscale communist revolution against the owners of the means of production!
     
  4. 5stringJeff
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    5stringJeff Senior Member

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    DK,

    This might not seem like a hot tip, but the single most important thing you can do is live beneath your means. In other words, be a "penny-pincher." Opt for the less expensive options in life when buying something, instead of splurging on more expensive or luxurious items.

    That may or may not sound like good advice (in fact, some people I know would take real offense to it), but it has worked for me.
     
  5. DKSuddeth
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    DKSuddeth Senior Member

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    Jeff, at this point in time I don't have an option but to do that. As it stands now, I don't own a home, can't rent, down to one vehicle, and the new job I have has benefits that take up 1/3 of my income and thats the bare minimums on benefits.

    My salary from my last job to this job has decreased by 1/3 as well. With an ill wife, I'd say my means are extremely limited.
     

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