DHP Financial topic of the week: Success stories?

[julian_kelly]

Bob!

Hit me up on the email bro!

Originally posted by beemoe44:
Your question is a good one Julian. It sounds like the difference between somebody who is financially literate versus someone who isn`t.

[music]

that's true what don said. i don't truely know what i am worth because i am giving it away to my family on a monthly basis.

[ September 03, 2003, 09:18 PM: Message edited by: music ]

[music]

i know one thing i am not rich . give back to the lord what he gave you by giving to your family or others.

[ September 03, 2003, 09:11 PM: Message edited by: music ]

[julian_kelly]

One thing I've learned about risk and money is that the risk of losing money decreases with the more knowledge that you gain.

Knowledge can enable to you be successful financially, independent of the economy, low or high interest rates, recession, inflation, stock market crashes, war. etc. We always here "The rich get richer and the poor get poorer". Often the rich get richer due to knowledge.

music, youve already demonstrated your discipline by being able to have an extra $1,500 per month. Simply apply that same discipline to learinng a little more about financial matters and you'll be surprised how you can make safe and secure financial gains that are significantly higher than ira's, savings accounts and bonds. IRA, savings accounts and bonds have their place in financial planning, but there are also other alternatives worth considering.

Also, I admire you contributing financially to others..thats awesome! Imagine the possiblity of building more wealth and being able to give more financially to good causes? The world needs more giving people like you.

best of luck
julian kelly

Originally posted by music:
...i have thought about having too much money in savings but i also want little risk...

[music]

thank you, i come along way from being selfish. i learned the hard way. i do try listening to suze orman.

[ September 03, 2003, 10:05 PM: Message edited by: music ]

[imported_Gman]

Something I got out of Black Enterprise and posted on my refrigerator:

[music]

thanks g man , i will take this pledge.

[imported_Gman]

Originally posted by mhd:
gotta add something before the last line of the article above: first learn how to set financial goals "the millionaire next door" is a must read for doing that, along with "rich dad, poor dad"

the numbers really are relative to your situation, personally, i'm more interested in investing in the future of my children and my nieces and nephews, if i'm flush and they are broke and dumb then it was all a waste. if i have less but we are all progressing together - that is my ultimate goal

Mark, on the issue of investing in the future of children in the family I have been ignoring this point over the years but now my eyes are open.

Thanks -G

[mhd]

Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by mhd:
gotta add something before the last line of the article above: first learn how to set financial goals "the millionaire next door" is a must read for doing that, along with "rich dad, poor dad"

the numbers really are relative to your situation, personally, i'm more interested in investing in the future of my children and my nieces and nephews, if i'm flush and they are broke and dumb then it was all a waste. if i have less but we are all progressing together - that is my ultimate goal

Mark, on the issue of investing in the future of children in the family I have been ignoring this point over the years but now my eyes are open.

Thanks -G </font>[/QUOTE]glad to hear that G, its a beautiful thing

[music]

you are right g-man. our community is worth 12 billion dollars; that's more than 12 nation's annual budgets.

also g man, i know this thread is going to motivate people to do more in thier communities.

[ September 04, 2003, 12:10 PM: Message edited by: music ]

[imported_Gman]

Originally posted by mhd:
</font><blockquote>quote:</font><hr />Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by mhd:
gotta add something before the last line of the article above: first learn how to set financial goals "the millionaire next door" is a must read for doing that, along with "rich dad, poor dad"

the numbers really are relative to your situation, personally, i'm more interested in investing in the future of my children and my nieces and nephews, if i'm flush and they are broke and dumb then it was all a waste. if i have less but we are all progressing together - that is my ultimate goal

Mark, on the issue of investing in the future of children in the family I have been ignoring this point over the years but now my eyes are open.

Thanks -G </font>[/QUOTE]glad to hear that G, its a beautiful thing </font>[/QUOTE]Now my next question. What is the best way to gift money to family members ? Do you give them a lump sum and trust them to do the right thing or do you agree to pay for specific needs like food, clothing for the kids, tuition, a car (insurance and repairs), rent..etc to make sure the money gets used for what it should get used for?

[C hristian]

survived over 1 year of mostly unemployment.

stole groceries for the family for over a year without getting caught.


chances are, your situation , therefor, your reality is different from mine , right now.
but we all gotta do what we all gotta do.

Got $1000 credit from the electric company by working the system.

cut back on a lot of relatively needless habits that cost $.

i feel employment in my future...

[mhd]

Originally posted by C hristian:
survived over 1 year of mostly unemployment.

stole groceries for the family for over a year without getting caught.


chances are, your situation , therefor, your reality is different from mine , right now.
but we all gotta do what we all gotta do.

Got $1000 credit from the electric company by working the system.

cut back on a lot of relatively needless habits that cost $.

i feel employment in my future...

i hope you have found an easier way to eat, i can't see you surviving in jail

[C hristian]

i'm getting there. talked to the public defender's office yesterday, coincidently enough.

633 indiana ave

[mhd]

Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by mhd:
</font><blockquote>quote:</font><hr />Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by mhd:
gotta add something before the last line of the article above: first learn how to set financial goals "the millionaire next door" is a must read for doing that, along with "rich dad, poor dad"

the numbers really are relative to your situation, personally, i'm more interested in investing in the future of my children and my nieces and nephews, if i'm flush and they are broke and dumb then it was all a waste. if i have less but we are all progressing together - that is my ultimate goal

Mark, on the issue of investing in the future of children in the family I have been ignoring this point over the years but now my eyes are open.

Thanks -G </font>[/QUOTE]glad to hear that G, its a beautiful thing </font>[/QUOTE]Now my next question. What is the best way to gift money to family members ? Do you give them a lump sum and trust them to do the right thing or do you agree to pay for specific needs like food, clothing for the kids, tuition, a car (insurance and repairs), rent..etc to make sure the money gets used for what it should get used for? </font>[/QUOTE]i've done all of the above, including having as many as three teenage college students living in my house off and on for the last five years. last summer i hired four interns in my office.

but, the two best ways, imo, is to buy specific items like computers or books or clothes, the other is to spend the time with them, that is really valuable to help people see different possibilities than their own reality and to learn some of your financial strategies

the millionaire next door has a really good explanation about how to (not) help family members. my thing is the younger you start with a kid the more they will listen to you. that way they will be more into reaching the goals that you set together than the other 100 dangers/temptations they meet everyday, or at least you have a fighting chance. if they make it to college, then i will do anything to help them make it through. but they have to make it through high school and that means reading and preparation for the SAT/ACT

[C hristian]

the 1 minute millionaire....any good? got it from my dad last xmass. no time yet to read.

[mhd]

Originally posted by C hristian:
i'm getting there. talked to the public defender's office yesterday, coincidently enough.

633 indiana ave

who did you talk to? i still have some friends there

[DeesKo]

Originally posted by mhd:
the other is to spend the time with them, that is really valuable to help people see different possibilities than their own reality and to learn some of your financial strategies

the millionaire next door has a really good explanation about how to (not) help family members. my thing is the younger you start with a kid the more they will listen to you. that way they will be more into reaching the goals that you set together than the other 100 dangers/temptations they meet everyday, or at least you have a fighting chance.

AMEN!

We (our B-Boy crew) used to do annual fundraiser events that started out helping fund after-school programs at Birney Elementary School in SE DC. The first year we made enough cash to help buy various supplies that helped keep the program running but by the 3rd year we were producing enough cash to actually send groups of kids to summer camps outside of the city and it was a great feeling to see/hear these kids having the opportunity to experience something they'd never even thought about before. Its truly magical to see a young person's eyes light up when they stumble upon a new version of reality.

a little off topic, but your comment hit home for me in a lot of ways.

Peace

[music]

certain bills from my brothers and sisters i will pay like my twin brother's life insurance and rent in a housing project and his food bill.

when money was short for college,my twin was very supportive through my b.a. and m.s. degrees.

my sister's daughter(14 years-old) school clothes, sister's life insurance ,carfare and lunch money, culture events, discount movie tickets and weekly allowance for her daughter's school supplies. no man is present in the house-hold.

two nephews who are locked up due to illegal behavior. that monthly(40.00) money for each one.

thier girlfriends don't work to send them money.

i pay the bills personally because they are not responsible. i hate admitting the true because they are my family.

[ September 04, 2003, 05:25 PM: Message edited by: music ]

[music]

hey deesko, that's one of the reasons why i stick by my family. a child's eyes light up. and they remember you.

p.s. my older brothers and sisters made a way out of no way when my parents didn't have the money. they gave my parents thier paper route money and mop floors to help my parents. it was ten of us. it seems like we made more to do w/ little than with alot.

the more money the more some people waste.

[ September 04, 2003, 05:32 PM: Message edited by: music ]

[imported_Gman]

Originally posted by mhd:
</font><blockquote>quote:</font><hr />Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by mhd:
</font><blockquote>quote:</font><hr />Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by mhd:
gotta add something before the last line of the article above: first learn how to set financial goals "the millionaire next door" is a must read for doing that, along with "rich dad, poor dad"

the numbers really are relative to your situation, personally, i'm more interested in investing in the future of my children and my nieces and nephews, if i'm flush and they are broke and dumb then it was all a waste. if i have less but we are all progressing together - that is my ultimate goal

Mark, on the issue of investing in the future of children in the family I have been ignoring this point over the years but now my eyes are open.

Thanks -G </font>[/QUOTE]glad to hear that G, its a beautiful thing </font>[/QUOTE]Now my next question. What is the best way to gift money to family members ? Do you give them a lump sum and trust them to do the right thing or do you agree to pay for specific needs like food, clothing for the kids, tuition, a car (insurance and repairs), rent..etc to make sure the money gets used for what it should get used for? </font>[/QUOTE]i've done all of the above, including having as many as three teenage college students living in my house off and on for the last five years. last summer i hired four interns in my office.

but, the two best ways, imo, is to buy specific items like computers or books or clothes, the other is to spend the time with them, that is really valuable to help people see different possibilities than their own reality and to learn some of your financial strategies

the millionaire next door has a really good explanation about how to (not) help family members. my thing is the younger you start with a kid the more they will listen to you. that way they will be more into reaching the goals that you set together than the other 100 dangers/temptations they meet everyday, or at least you have a fighting chance. if they make it to college, then i will do anything to help them make it through. but they have to make it through high school and that means reading and preparation for the SAT/ACT </font>[/QUOTE]I think I am going to take your advice and suggest to Linda that we pay for specific items rather than the lump sum. I did bring up the point to Linda that we spend more time helping kids that are not related to us than we do investing in our own families.

-G

[DeesKo]

Originally posted by Gman:
I did bring up the point to Linda that we spend more time helping kids that are not related to us than we do investing in our own families.

-G

For your information Gman, most of us on here are grown adults, not kids. [img]smile.gif[/img]

[imported_Gman]

Originally posted by DeesKo:
</font><blockquote>quote:</font><hr />Originally posted by Gman:
I did bring up the point to Linda that we spend more time helping kids that are not related to us than we do investing in our own families.

-G

For your information Gman, most of us on here are grown adults, not kids. [img]smile.gif[/img] </font>[/QUOTE]

[imported_Gman]

Originally posted by music:
certain bills from my brothers and sisters i will pay like my twin brother's life insurance and rent in a housing project and his food bill.

when money was short for college,my twin was very supportive through my b.a. and m.s. degrees.

my sister's daughter(14 years-old) school clothes, sister's life insurance ,carfare and lunch money, culture events, discount movie tickets and weekly allowance for her daughter's school supplies. no man is present in the house-hold.

two nephews who are locked up due to illegal behavior. that monthly(40.00) money for each one.

thier girlfriends don't work to send them money.

i pay the bills personally because they are not responsible. i hate admitting the true because they are my family.

Thanks for sharing. I have a older brother who was there for us when things were bad. For the few times he has needed to borrow money he doesn't understand why I tell him that he doesn't have to pay it back and that I still owe him.

-G

[C hristian]

i'll call you mark