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To: DAX KIMPO who wrote (17096)3/11/2000 2:20:00 PM
From: Jarhead  Read Replies (2) | Respond to of 19700
 
OT

What does it take to be free and escape the rat race? I have asked alot of my friends, from low cost to high cost of living areas and the numbers range from .5M to 25M. I expect few of us are going to quit trying to make more regardless of the amount we personally set for our goal. Its almost a gambling addiction except you are allowed to count cards by looking at the companies financials.

The number used to be 1M, moved to 5M, and now is at 10M to be considered WEALTHY. D. Trump in his review of the Millionaire Mind stated it now took 1B to be considered WEALTHY. I know my dad made >50k yr and raised three kids in a nice neighborhood and never got close to 1M. The same $ today would not equate to the same std of living, even accounting for inflation. There is a big difference in being "city" rich and "country" rich. The long and the short of it is that I have this little demon that will never allow me to feel "safe" and "free" regardless of the $ in the bank. I suspect most of us feel the same.

I did opt to work on my own and LOVE the freedom having my own business creates, but fear injury and illness to the point I am almost a hypochondriac! (I don't work, the business goes under.) I highly recommend to anyone to start your own business. Just remember you pay at least an additional 7.5% in FICA taxes from day one! If that does not influence your voting habits there will be very little that will.

Finally, you have to sell, pay the taxes, and take the profit for it to have made money. Paper gains don't amount to a hill of beans. Cash talks. Ask your banker.

JARHEAD



To: DAX KIMPO who wrote (17096)3/12/2000 3:40:00 PM
From: mike machi  Respond to of 19700
 
~My bet is that most of us here can be "freed" anytime, what's holding up is that the system programmed our brains for so long that to survive one needs to work the 8-5 job. The what if's keeps staring at us and it takes guts (or accident) to cut the cord. JMO. ~

For me., Its (was) a father/son thing. `Old school` mentality.
So many of us are breaking away and so many that never will think of an investment as taking money from under the mattress and putting it into a CD (LIKE DAD). The curve is huge.

Mike