Dead Millionaires Tell No Tales...

[MJ DeMarco]

Saw this posted the other day. After reading, I had to pickup my mouth from the floor.

I took a screenshot.

Not sure what's more exciting, being a dead millionaire, or an 111 year old millionaire that still is living and breathing. Nonetheless, I have to wonder, are people this f*cking stupid? Are you so blinded by the prospect of having millions that you can't do simple math? How on earth can someone take this seriously?

And my analysis is also very forgiving -- I assume a 16 year old had $500 bucks to invest in 1919. More than likely he doesn't. So in reality, you're probably 121 years old.

 

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[Vigilante]

In a little cemetery in Bentonville, Arkansas rests the bones of one of the world's wealthiest men. If you ever have a chance to visit the birthplace of Wal-Mart, I recommend you make a quick trip to this out of the way speck on the map. Locals should be able to maybe direct you there. It's within a few miles of Wal-Mart's world headquarters. No security, no markings, nothing. Just a desolate headstone, faded with age and right next to all the others.

He won the game, and went to the grave exactly like everyone else did.

Unless you plan on building the next Wal-Mart and want to spend the next 50 years of your life working your a$$ off only to die in a simple grave, the answer is EXPLOSIVE INCOME. You need a short window of time in which you sock away a bunch of cash.

Your grave is going to look exactly like this guys does. Do you really want to sit and contemplate compound interest on meager savings while you forego cable television and buy a few more shares of Apple stock?

EXPLOSIVE INCOME. Don't believe the bullshit that everyone tells you about the way the world works. Blaze your own path.

Edited : This photo is not the correct photo. You can see the correct photo later in the thread. My apologies. My Google skills are lacking.

 

[MJ DeMarco]

same point.

Amazing how people skip the point and instead focus on potential "gotcha's", insignificant details that bear nothing on the point.

Thread: OMG look! It's a unicorn driving a Mercedes E350!
Response: Isn't that's a C250?

 

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[SYK]

Aka "There's no point being the richest man in the cemetery"

 

[Mike.B]

I think you'd of had a better chance of shoving a lump of coal up your behind and making diamonds ... wait, that might take more than 111 years.

 

[socaldude]

I can't even F*cken imagine taking $500 today, sticking it in a brokerage account and F*cken praying and hoping it hits $10 million dollars one day. You will probably end up with $375.34 10 years later. OMFG.

All the while you waste your life away in mediocrity and doing nothing.

LOL love the "Scam" tag in this thread.

 

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[rkmalo1]

Since I am a investor, I enjoy learning from Warren Buffett and it bothers me how he supported this ad. When it comes to Warren, and like many other investors/entrepreneurs, follow his actions not his words.

He's not only a great investor, he's a superstar entrepreneur. How he grew Berkshire is nothing short of incredible. Arguably one of the most brilliant "holding companies" in world.

This article in B.I. summed up how he really became wealthy:

Like most of the other people on the Forbes 400 list of wealthiest people, Buffett created wealth by creating his own company. He did not accumulate his wealth in anything that closely resembles what most of us do by opening brokerage accounts and allocating our savings into various assets.

The original Buffett Partners fund is particularly interesting due to Buffett’s recent berating of hedge fund performance and fees. Ironically Buffett Partnership charged 25 percent of profits exceeding 6 percent in the fund. This is a big part of how Buffett grew his wealth so quickly. He was running a hedge fund no different than today’s funds. And it wasn’t just some value fund. Buffett often used leverage and at times had his entire fund invested in just a few stocks. One famous position was his purchase of Dempster Mill in which Buffett actually pulled one of the first known activist hedge fund moves by installing his own management at the firm. Buffett, the activist hedge fund manager? That’s right. He was one of the first. His venture to purchase Berkshire Hathaway was quite similar.

Berkshire Hathaway isn’t just your average conglomerate. The brilliance behind Buffett’s construction of Berkshire is astounding. He effectively used (and uses) Berkshire as the world’s largest option writing house. The premiums and cash flow from his insurance businesses created dividends that he could invest in other businesses.

Berkshire essentially became a holding company that he could run this insurance-writing business through while using the cash flow to build a conglomerate. But Buffett wasn’t just buying Coca-Cola and Geico. Buffett was engaging in real investment in many cases by seeding capital and playing a much more active entrepreneurial role in the production process.

He was also placing some complex bets (short-term and long-term) in derivatives markets, options markets, and bond markets. The perception that Buffett is a pure stock picker, as many have come to believe, is a myth.

It’s also interesting to note that the portfolio of stocks he has become famous for is the equivalent of just about 28 percent of Berkshire’s enterprise value as of 2013. His most famous holdings (Coke, American Express & Moody’s Corporations) account for roughly 8 percent of the total market cap.

Interestingly, two of Buffett’s most famous purchases weren’t traditional value picks at all but distressed plays. His original purchases of American Express and Geico occurred when both companies were teetering on the edge of insolvency. These deals are more akin to what many modern-day distressed debt hedge funds do, not what most of us think of as traditional value investing.

Make no mistake – Buffett has the killer instinct prominent in many successful business leaders. Just look at the deal he struck with Goldman Sachs and GE in 2008. He practically stepped on their throats when they needed to raise capital in the depths of the financial crisis, demanded a five year warrant deal, and profited handsomely.

http://www.businessinsider.com/myth-you-too-can-become-warren-buffett-2014-7

 

[MisterBHZ]

Has anyone ever seen a 111 year old driving a Ferrari?

 

[RHL]

If this is what we can expect from the next book imma buy two copies. Made my night.

 

[Chazmania]

Absolute insanity.

I recently saw an article on Yahoo titled something like "Secrets of the Rich" or whatever, I can't remember.

I clicked on it, and the 2nd or 3rd paragraph started talking about 1st maxing out your 401k (yea I'm sure that's what all the rich people are doing!), 2nd converting your traditional IRA to a Roth, and then 3rd some other slow lane sucker shit. After that I just laughed to myself.

It's sad that people are taught this crap their entire life right along with believing in Santa Clause and Social Security.

Those steps guarantee that you'll be working until at least 65 since your money is held prisoner, and all the while providing liquidity to the markets so the real rich can sell their shares whenever they want!

Some scams are hidden in plain sight.

 

[MJ DeMarco]

The first sentence claims it's a "simple solution".

I never knew that accomplishing the feat of being classified as one of the oldest persons alive would be considered a "simple solution."

 

[GreedyBGoode]

Here's an idea... a coffee table book annotating and dissecting ads/sales letters like these. Would be a pretty entertaining read to say the least

 

[Mattie]

I'll just collect pennies until I'm dead. It amounts to the same conclusion.

 

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[MJ DeMarco]

You see when Warren Buffet makes mistakes, life goes on, nothing happens except a $1B loss in market cap.

When you make mistakes following Warren Buffet's advice, you need to file bankruptcy.

But these recent stumbles do show that cracks may be appearing in Buffett's "buy and hold forever" investment philosophy.

http://www.marketwatch.com/story/three-bets-going-sour-on-buffett-2014-11-04

 

[Mineralogic]

Here's what they won't tell you about Buffet. He invested in the companies of several unknown down low elite family businesses. He also takes lots of control vs a regular investor. And he has taken lots of bailout money or used politics to his advantage or Wall St's itself. Do not trust Uncle Warren

 

[MJ DeMarco]

Get a good laugh at this pipe-dream propaganda by another financial blowhard blowing bullshit up your noggin.

http://www.marketwatch.com/story/how-time-can-turn-3000-into-50-million-2015-12-02

Is this an onion joke? No, it's real, including the straight-faced lie that you can get 12% a year for 95 years.

 

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[jon.a]

5 million isn't what it used to be

 

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[Yeezy]

Maybe they'll dig you up and give you a $10 million coffin though, think positive.

 

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[Mineralogic]

In a little cemetery in Bentonville, Arkansas rests the bones of one of the world's wealthiest men. If you ever have a chance to visit the birthplace of Wal-Mart, I recommend you make a quick trip to this out of the way speck on the map. Locals should be able to maybe direct you there. It's within a few miles of Wal-Mart's world headquarters. No security, no markings, nothing. Just a desolate headstone, faded with age and right next to all the others.

He won the game, and went to the grave exactly like everyone else did.

Unless you plan on building the next Wal-Mart and want to spend the next 50 years of your life working your a$$ off only to die in a simple grave, the answer is EXPLOSIVE INCOME. You need a short window of time in which you sock away a bunch of cash.

Your grave is going to look exactly like this guys does. Do you really want to sit and contemplate compound interest on meager savings while you forego cable television and buy a few more shares of Apple stock?

EXPLOSIVE INCOME. Don't believe the bullshit that everyone tells you about the way the world works. Blaze your own path.

check out the freemason symbols on there! wow

 

[Hassen]

This is golden, LOL.

When it comes to Buffet though, I believe MJ mentioned it in the book too: those investing in hedge funds don't get rich, but those establishing hedge funds do.

 

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[Damage Inc.]

This is the correct one, just as modest and just as dead - same point.

 

[Jake]

One life to live. One life to enjoy or hate. I make bold decisions that seem irrational to most but there's a reason for that - that I don't need to dive into right now.

Anyway - Bon Jovi rocked Bangkok tonight and this song always strikes a chord with me.

This ain't a song for the broken-hearted
No silent prayer for the faith-departed
I ain't gonna be just a face in the crowd
You're gonna hear my voice
When I shout it out loud

[Chorus:]
It's my life
It's now or never
I ain't gonna live forever
I just want to live while I'm alive
(It's my life)
My heart is like an open highway
Like Frankie said
I did it my way
I just wanna live while I'm alive
It's my life

This is for the ones who stood their ground
For Tommy and Gina who never backed down
Tomorrow's getting harder make no mistake
Luck ain't even lucky
Got to make your own breaks

[Chorus:]
It's my life
And it's now or never
I ain't gonna live forever
I just want to live while I'm alive
(It's my life)
My heart is like an open highway
Like Frankie said
I did it my way
I just want to live while I'm alive
'Cause it's my life

Better stand tall when they're calling you out
Don't bend, don't break, baby, don't back down

[Chorus:]
It's my life
And it's now or never
'Cause I ain't gonna live forever
I just want to live while I'm alive
(It's my life)
My heart is like an open highway
Like Frankie said
I did it my way
I just want to live while I'm alive

[Chorus:]

It's my life
And it's now or never
'Cause I ain't gonna live forever
I just want to live while I'm alive
(It's my life)
My heart is like an open highway
Like Frankie said
I did it my way
I just want to live while I'm alive
'Cause it's my life!

...........

Live while you're alive!

 

[Vigilante]

This is the correct one, just as modest and just as dead - same point.

Not even worth it for the richest family in America to garden it. A few wild flowers in the background, and some weed killer sprayed around the edges of the headstone.

btw Hey Damage. She died in 2007. This isn't even current.

 

[Damage Inc.]

"At the end of his life at age 95, Brendon's annual retirement withdrawals would total about $1.83 million, and his account would be worth about $1.84 million."

I hope this guy's next article is about how Brandon made it to 95.

 

[mws87]

Get a good laugh at this pipe-dream propaganda by another financial blowhard blowing bullshit up your noggin.

http://www.marketwatch.com/story/how-time-can-turn-3000-into-50-million-2015-12-02

Is this an onion joke? No, it's real, including the straight-faced lie that you can get 12% a year for 95 years.

From the beginning of the article:

"I can't say that I have done it, but I'm going to show how you could."

[HASHTAG]#shadowyguy[/HASHTAG]

 

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[Mattie]

Nope...I've helped them walk around with a walker, or wheel chair, but frankly they don't have the energy to move their body and get in a car alone drive one. Usually you have to put them in the car and drive for them. If they're not screaming at you they don't like the light during the day time. You can just tell them they're driving one and they'll be fine with it in their reality.

I know because: once there was a whale in the toilet. I never saw it, but they did! lol

 

[Mattie]

I decided if you drive on twitter lane you'll go mad promoting your business. You'll be brain dead and there goes all the pennies I've saved. Twitter madness repetitive brain dead relationship advice that has no value and hey I'm making friends because I have all the answers for zombies on twitter. Just because people understood close the old book and open a new book with relationships that is so simple. lol And than there was some that have gangsta mentality that still didn't get it. Ha ha! I need to write like a zombie for them to comprehend. Zombie language. No wonder I don't socially engage on a regular bases. On regular hash tags the negativity roars. Glad I'm not zombie. Social media marketing, hmm...do I have too!

 

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[bane]

your running commentary made me lol. thanks. my day just +1'd

 

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[Vigilante]

The dates for both Sam and Helen are incorrect. The birth and death dates are both wrong...also, it was "Helen R.", not "Helen F or E" as shown....so what am I looking at??

Looks like the wrong photo. Dead is dead.

Welcome to the forum! Stop on by the new member area and introduce yourself.

https://www.thefastlaneforum.com/community/forums/introductions-networking.16/

 

[Mattie]

This very sad. Also motivation. You can be in this situation by listening to bad advice, being stuck in side walk, and not waking up to the reality that you must take personal responsibility for your life. I just knew someone this just happen too in another state a few months ago. A good person, did everything right as a person, loved tons of children, mentored them, and when hardship came it was to late for this person to change life around and hit illness afterwards. I was close to this person at one time and it was painful seeing such an awesome person be in this position.

I think we don't have a clue at times in how many ways there is a cause and effect on our lives and others financially. It was interesting to see the burden on families with funeral expenses, or the state taking over things if you don't have the money. I know it's a little grim, but it motivates you to pay attention, stay focused, and make the right choices and take the right actions.

 

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