Boiler Room: The Official Stock Market Discussion

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KING WILL

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winb83 said:
The answer to that is universal. Living beneath your means. That's the most important financing lesson anyone can learn. Whatever you make live below your means. Everything else comes after that.

I feel like the 5 most important financial rules are:
  • Live beneath your means.
  • Save and invest most of the difference created by rule 1 as well as extra money you come into, bonuses and job raises.
  • Figure out the standard of living you're comfortable with and maintain that as long as possible. Avoid lifestyle creep.
  • Never use debt to buy anything that depreciates in value unless you have the cash to comfortably own it outright when you buy it.
  • Never pay interest on a credit card.

I learned all that stuff the hard way cause in my 20s I broke all those rules constantly and I was usually broke.
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:salute:


One of the better posts Ive read on any MB.
 
UltimateHustler

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winb83 said:
The answer to that is universal. Living beneath your means. That's the most important financing lesson anyone can learn. Whatever you make live below your means. Everything else comes after that.

I feel like the 5 most important financial rules are:
  • Live beneath your means.
  • Save and invest most of the difference created by rule 1 as well as extra money you come into, bonuses and job raises.
  • Figure out the standard of living you're comfortable with and maintain that as long as possible. Avoid lifestyle creep.
  • Never use debt to buy anything that depreciates in value unless you have the cash to comfortably own it outright when you buy it.
  • Never pay interest on a credit card.

I learned all that stuff the hard way cause in my 20s I broke all those rules constantly and I was usually broke.
Click to expand...
Great post- I fully agree and do all of the above.

That said occasionally I hear some creative wrinkles, strategies, or opportunities that I learn from so I try to stay curious.
 
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winb83

winb83

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KING WILL said:
:salute:


One of the better posts Ive read on any MB.
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It’s basically the modus operandi from the book the millionaire next door. Regular people becoming millionaires by capping their lifestyle and being smart / frugal with what they make until their wealth pushes them past the point of being millionaires.
 
UltimateHustler

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winb83 said:
It’s basically the modus operandi from the book the millionaire next door. Regular people becoming millionaires by capping their lifestyle and being smart / frugal with what they make until their wealth pushes them past the point of being millionaires.
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Yes sir. One of my favorite books all time along with Think & Grow Rich + Rich Dad Poor Dad
 
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KING WILL

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KING WILL said:
Will eventually be the backbone of most, if not all Nato
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The $PLTR x NATO deal today was a very, very big deal. The same countries that are part of NATO are some of the same countries (France, Germany, etc) that have not procured software from Palantir. Their reason? “We can build it ourselves.” Obviously, they can’t. They will fail miserably. Karp has publicly said many times that you can’t simply “replicate” what Palantir has built over 20+ years, especially in the bureaucracy that is the government. Well, now that NATO is using an ENTIRE AI OPERATING SYSTEM from Palantir for the battlefield…it begs the question: If Palantir is good enough for NATO, why is it not good enough for Germany & France? The S-curve of international growth will happen because Europe will have no choice. They either adapt or miss the entire AI revolution. Today, NATO chose to not miss the revolution.
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