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Kasz216 on 04 September 2012
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richardhutnik said:
Kasz216 said:
richardhutnik said:
Kasz216 said:

Or they could hire an investment guy. 

That's what I do.  Though instead of using that extra money from not drinking and smoking to invest, i mostly use it to work less hours.

You just get some investment or index funds, there is a bit of a rush to high yield invetment funds lately granted.  There is plenty of oppurtunity to make some good money though and get yourself to a good middleground/ get some assets.

Of course the issue with that is, it really wouldn't work for someone like you right now, since people on government assitance would end up shooting over top their "wealth limits" pretty quickly to get goverment assistance.

I don't qualify for a lot of stuff I might otherwise due to having investments.

Then you can worry about getting rich from there if your worried about such a thing.  It's not like anyone thinks people go from poor to bill gates within a month.

What kind of investment guy is going to work with someone who has, at most, $200 TOPS a month, to play with?  That small amount of money isn't hiring anyone, and they won't get anyone but a sales type who will pitch this or that mutual fund.  When you are on the bottom end, you get the office the shelf variety.

In my case, even if I get working again (as of now, I am on handouts so there is no investing), it would be best I pay down my credit card at this point.  I also need to keep my car on the road.  Best long-term thing isn't paper investments, but develop IP that can sell.  

Paper assets pay so poorly on a return now, whether it be dividends or interest paid (bonds) it just isn't worth it on the lower end.  People on lower end are best acquiring skills and trying to do business stuff, as in entrepreneur.  Trying to play appreciation game with paper assets is a huge risk at this point.

The high index mutual funds aren't too bad.  I mean you gotta keep in kind mind most mutual funds don't really make money unless you do.

Again, we are talking about the poor and working poor here, and what the woman said.  Individuals living paycheck to paycheck, aren't going to have much of anything to put into things like mutual funds and so on.  Unless the individual can end up turning it around, they will maybe hit middle class, if they are lucky.  And middle class isn't even to the place of being wealthy either.  Idea is to become independently wealthy so you don't need to work.  In short, retire.  A poor person MAYBE gets there if they have the right breaks.  But to just tell them to stop smoking and drinking, work longer hours, and invest and create jobs, is pushing it.  This isn't happening with the average poor person, no matter how much one thinks they need to work harder.  MAYBE if they are like the Golden Voice, and get a break, then it can be different.  But not for the average poor person.  Pretty much, get a break at the right time, and end up spinning off that.  And if they work, they face challenges:

http://www.dol.gov/oasam/programs/history/herman/reports/futurework/conference/workingpoor/workingpoor_toc.htm

They certainly aren't going to get rich going to some financial planner who pitches mutual funds.  Maybe they can end up knowing how to do some real estate and end up owning rental property.  But go and create jobs?  Sorry, I can't take seriously a woman who inherited a bunch of money to tell people who are poor how to lift themselves up by their boot straps. Sorry, the Lucky Sperm Club (Wayne Root term) member isn't in a place to tell people what to do.  Have a rich father isn't a method for everyone...

 


Again... that's why I said it was a first step.

It won't make you a ton of money, but it sure will get you to the point of where you have a good amount of it for later investments.