What has been your best move financially speaking?

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CLKeenan

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I think mine was starting a retirement fund for myself 2 years ago when I was 17, adding $4000 (split between two funds) each year to a Roth IRA account. I think its been one of my best moves financially (other than not selling my website for $1000 3 years ago haha) because I definitely haven't missed that $8000 in the past two years and even if I just let that sit and not put anymore in, I would still be able to pull out a 6 figure number when I plan on retiring.

How about you? I'm hoping to see some insightful posts and learn a thing or two
 


When I got out of the Navy, I got a job at a yacht company in Tampa at a fairly decent salary (fairly decent meaning that I could scrape by). After about 6 months there, I got called into one of the VPs office and he gave me an unheard of promotion and switched me from a salary to an hourly wage. While that may seem like a demotion, keep in mind that all I did was drive yachts from Tampa to the Bahamas, Ft. Lauderdale, the Carolinas, New York, etc. so it was nothing for me to work an 80 hour week. Many times more. I really had no life.

I didn't squander the extra cash. I stashed it in a retirement fund run by a friend of mine that had JUST got a job with an investment firm straight out of college. I didn't know what I was doing and, hell, neither did he for all I know. But my cash has stayed right there doing well this whole time since then (~5 years) and I haven't touched a dime. Since I quit that job to go back to college I haven't put any in either, but I can safely say that I have over 50K of "rainy day" money whenever I need it.

That's what I call an umbrella. :smokin:
 
Buying a house.

Interest is deductible. I have caught three different good housing markets and made good money on each home I owned. Capital Gains if reinvested are not taxed. You can paint the walls whatever color you want... I now have about the same mortgage as I started with, but I have a much much much nicer home.


Worst financial decision....

Sold a business I had started on my 22nd birthday for mid 6 figures.
Thought I was rich! Business was sold less than 3 years later for mid 8 figures! OUCH!
 
I think this might be the wrong forum for you...
Warrior Forum is looking for new members though
 
Best decisions: Buying domains (over the last 4 years) and buying a house when I was 22. After selling that house 6 years later, I was already able to buy the house of my dreams. As to the advice of someone else who posted here, pick the 30 year fixed mortgage. Buying 6 months from now (winter) would be a great way for someone to build equity with falling house prices.

Worst: Not finding wickedfire until just recently. I realize now what all my domains are really worth. This site has allowed me to contact some great people and become good friends with a few of them. These friendships are already proving VERY valuable (for both sides ;). That's why I personally IMed Jon a while ago and thanked him for this forum!
 
engaged said:
my best move was never listening to diorex evarrrrr
Click to expand...

Hmmm, wasn't I the one who said to fire your CPA, diversify your income sources, and don't partner with Chris Lingle... Sorry for all the bad advice...

If I was engaged, I would not listen to me either....
 
Pumping the maximum amount (15%) into my and my wife's 401k for the past 5 years.

Buying a house in Miami, FL before the boom (i'll be a millionaire, just by selling my house in 20 years.)

And the latest, getting off my ass and getting into all arenas of making money online.
 
alistdirector said:
where were all your faults?
Click to expand...
Spending cash without investing it. Not motivating myself and getting a job, just sitting around doing nothing
 
For me it was investing in stocks and shares about 5 yeas ago. I havent become a millionaire or anything (i havent even doubled my money) but i do have a long term nest egg for my future.
Plus, I save enough each month so that I have a six month contingency fund should things go pear shaped.
 
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