I have $1,000, should I invest? Save? Buy hazmat suit?

[Kak]

Haha well we already were forced to pay for it, might as well use it :/

but yeah I like having my book collection!

Let me paint a picture here:

I want a specific book...

“I know let me patronize my public library!”

So I drive one of my 14 MPG 4wd SUVs down to a stale old government building before I “waste” $10.

“Sir you need to wear a mask”

Under my breath: “I hate you.” I put it on. I notice a picture of Joe Biden on the wall behind her.

“Oh crap, you don’t have it... Oh You’ll have it next week? Great!”

I come back next week.

“Sir, you need to wear a mask.”

I act like I didn’t hear the Bolshevik.

“SIR!!!! You NEED to WEAR a MASK!”

I guess I need to either act deaf or apologize now. Next time I’ll wear my AirPods.

Back to the truck to get my face diaper.

Back inside!

“Oh a fellow patron didn’t return it on time.”

Son of a bitch.

I come back the following week.

Defeated, I put my mask on with my nose out in silent defiance.

“Sir, you need to pull your mask over your nose.”

I look around for an easy way to kill myself. Nothing. Oh well. “Sure let me pull that right up for you.”

“Do you have this book?”

“What? I can’t hear you.”

“Yeah that’s because you insist on standing behind 3 layers of plexiglass and I’m wearing a face diaper.”

“What?”

I raise my voice... “DO YOU HAVE THIS (F*cking implied) BOOK?”

“Yes, right here!”

“Hooray you finally have it? Wait... What is this nasty slime on the cover? Let me go wash my hands and why don’t you wipe this thing down while I do that?”

Finally, I get it for free, I’m walking out... And I realize... It is a 600 page book and I have a week to read it or it isn’t free.

The next day I develop a severe illness, presumably the slime was the culprit. Is this covid? No! It’s meningitis. I am dead in 24 hours.

In her mourning, my wife goes to bring the book back several weeks later...

“Ma’am, you need to wear a mask”

“You’re very late on this return, that will be $11.”

F*ck. I look down from above wishing I could kill myself even though I’m already dead.

The alternative to dying inside and then literally dying:

 

[Kak]

Make 1000 more $1000s.

It isn’t enough money to fret over. Set it aside for personal advancement. If you are hell bent on investing it, do whatever you want. Once again, it is only $1000.

If I were in your shoes... Just starting out... I would use $100 to go buy some business books, after you read the quintessential Unscripted and MFL, move on to business books from great entrepreneurs, ones you respect. Learn and understand what they went through to make it. This should get you 6-8 books.

At that point hopefully you have fostered a love for learning. You will have a much clearer answer when you get there than you have today. Then revisit the other $900.

Just service your student debt. Don’t send them more money than required. The Bolshevik government will likely rob people like me, and purchasing power from employees to wipe it out for you.

The markets normally crash when everyone is super bullish, not when everyone is talking about a crash.

 

[MJ DeMarco]

It's not like, when you are faced with a difficult decision, you are going to look back at some $10 book you read and know what to do. People don't behave the way they do based on what they read in books, but based on experience.

Reading business books when you only have $1000 to your name is about as productive as watching Netflix. One of the biggest reasons people buy and read these books is because they aren't out there doing it - they are sitting at home reading about it (and fantasizing about it). Everyone likes to think that entrepreneurship can be learned and studied, etc. It can't. You either have it, or you don't.

Reading books to learn to become an entrepreneur or a more effective entrepreneur doesn't work. Someone isn't going to have a good idea or become good at sales because they read a book. They are going to have a good idea by being out there doing something and discovering something that could be done better. Or they are going to get better at sales by practicing and getting over whatever is preventing them from being good at it.

Thinking one can be a better entrepreneur from reading a book is like thinking one can be a better tennis player by reading a book.

Perhaps the most IGNORANT statement I've read on this forum in 10+ years.

Congratulations on such a remarkable achievement, especially on a forum dedicated to the philosophy originated in two books that have sold millions of copies worldwide.

I know I wouldn't be where I am today if it weren't for books, which is why I now write them as they've been instrumental in my life, and will be until the day I die.

Clearly you're not here to advance the purpose of this forum or anyone's higher aspirations, but to troll and peacock your own ego. That's fine, but do it on your forum or your FB page.

My platform is not to advance your ignorance.

 

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[Johnny boy]

I think anyone investing anything less than 500k in the market needs to slap themselves in the face and use that money to grow a business.

 

[MJ DeMarco]

Thread is a HOT TOPIC, and for all the wrong reasons.

 

[The-J]

This thread has everything.

- Actual good advice
- Pedantry
- Arguments over pedantry
- Politics somehow (??? the F*ck)
- Memes
- Actual idiotic "advice"
- MJ himself calling out the idiocy
- Fly by night OP

I'm honestly impressed

 

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[BizyDad]

I have read about 70 books in the past 2 years since I began. I fully understand the only way to truly know the answers to these questions are to continue to learn and experience things for myself; I just have FOMO I guess that there is an "easy" route to make my little money grow.

Thanks for the response! Appreciate the wisdom

There will always be opportunities to grow your $$. As you expand your knowledge, you will learn to spot them.

I am a firm believer in having your just in case fund sitting in cash. 3-6 months of expenses before you put money at risk in the markets.

I would use $100 to go buy some business books

Just starting out, get a library card. Only buy the books if you need them sitting on a shelf for reference.

 

[Kak]

Just starting out, get a library card. Only buy the books if you need them sitting on a shelf for reference.

Public libraries are for communists.

Personal libraries are where it’s at.

 

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[Kak]

What to do with $1000 is settled then. DuPont is the new Brooks Brothers. Dress for success! A hazmat suit opens up a whole new world of opportunity.

 

[Kak]

Wow, I'm tempted to reopen that. Some great posts in there, despite the dumpster fires that surround it.

Do it. Anything’s better than the “feed my family to cannibal terrorists to send the right message” war thread.

But you know me, I’m always in favor of even the most diseased threads.

 

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[Tom H.]

I honestly can't believe you wrote this. I'm in shock. Reading books like "My Life and Work" by Henry Ford is as productive as watching Stranger Things? You must not have read any quality books in your lifetime.

Why do people believe this? You can learn how to become a Doctor by studying your textbooks but starting a business? Impossible! You either have it or you don't!

Nobody said to ONLY read books. Of course, you must take action along with the new ideas gained from the books.

Elon Musk, Warren Buffet, Mark Cuban and more are famous for reading a ton! Maybe you would have known that if you had read about it, but instead you just make things up to justify your point.

My Life And Work is one of my favorite books, I even have a quote from it tattooed on my leg.

I concede the point that taking action is now important than reading, which can become procrastination, fantasy or living vicariously. But books are also an essential part of gaining exposure to new ideas, opening your mind and imagination, making better decisions, finding role models and inspiration, and building foundational knowledge. Should we not be reading TMF ?

As far as investing $1000 in equities, it sounds like the stupidest idea possible. Unless your goal is to learn to trade stocks, then go somewhere dedicated to that. If you're goal is to be an entrepreneur, find a business project you can start for $500. You'll probably lose the money, but you'll gain valuable experience.

And yea, use $100 to buy a Kindle.

If you can't afford a book for $10 you need to stop being poor. If you can't figure out how to pirate books you need to stop being stupid. If you participate in communist b.s. then you deserve meningitis.

 

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[Johnny boy]

Let me paint a picture here:

I want a specific book...

“I know let me patronize my public library!”

So I drive one of my 14 MPG 4wd SUVs down to a stale old government building before I “waste” $10.

“Sir you need to wear a mask”

Under my breath: “I hate you.” I put it on.

“Oh crap you don’t have it... Oh You’ll have it next week... Got it”

I come back next week.

“Sir, you need to wear a mask.”

I act like I didn’t hear the bitch.

“SIR!!!! You NEED to WEAR a MASK!”

f*ck, I guess I need to either act deaf or apologize now. Next time I’ll wear my AirPods.

Back to the truck to get my face diaper.

Back inside!

“Oh a fellow patron didn’t return it on time.”

Son of a bitch.

I come back the following week.

Defeated, I put my mask on with my nose out in silent defiance.

“Sir, you need to pull your mask over your nose.”

I wish I had an easy way to kill myself. Oh well. “Sure let me pull that right up for you.”

“Do you have (the name of the damn book)?”

“Yes, right here!”

“Hooray you finally have it? Wait... What is this nasty slime on the cover? Let me go wash my hands and why don’t you wipe this thing down while I do that?”

Finally, I get it for free, I’m walking out... And I realize... It is a 600 page book and I have a week to read it or it isn’t free.

The next day I develop a severe illness, presumably the slime was the culprit. Is this covid? No! It’s meningitis. I am dead in 24 hours.

In her mourning, my wife goes to bring the book back several weeks later...

“Maam, you need to wear a mask”

“You’re very late on this return, that will be $11.”

f*ck

The alternative to dying inside and then literally dying:


View attachment 36928

This is my favorite reply that I've seen on this entire site in the past 6 months!

 

[Kak]

Calling a hypothetical librarian a bitch for doing her job, I respect that a lot less.

So let me get this straight. I offended a real person with a hypothetical and satirical trip to the library wherein the obvious caricature representing me merely had the thought that someone, also a caricature, was a bitch?

For crying out loud, learn to laugh @BizyDad.

 

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[lewj24]

If you're making less than $1 million per year you don't need to read anything or follow anyone.

Then, once your bank account reaches a certain amount of zeros, and only then are books worth it.

The logic.

 

[CareCPA]

Well, this was quite the rollercoaster! From Stonks to Hazmat suits, I've learned a ton today (namely, if I go to the library, I will without a doubt contract meningitis).

Actual advice for the OP:
Somewhere around here is a thread or two on hustling and flipping via FB Marketplace/Craigslist. I would give those threads a read.
Maybe someone who is better at searching can even find them and link them in here.

 

[MJ DeMarco]

This threads already way off topic so I’ll ask here.

What happened to the rep bank @MJ DeMarco?

I used to like transferring money to people who made really good posts.

It went away when the forum software was updated. It's removal was not really my choice and I would love to bring it back, or better, have it tied to a crypto coin.

 

[Mathuin]

It went away when the forum software was updated. It's removal was not really my choice and I would love to bring it back, or better, have it tied to a crypto coin.

I’m apeing into DeMarco Dollar upon its release

 

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[lewj24]

Reading business books when you have $1000 to your name is a waste of time

and learn the minimum bits and pieces you need to execute.

He should learn, but not through books. Only an idiot would pay $10 for a successful person's lifetime worth of knowledge am I right?

 

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[BizyDad]

Did I accidentally open Facebook? IS this a reddit subthread?

This is supposed to be a conversation about what to do with $1000.

How much value are your comments adding to that discussion? Do we really have to turn the thread into a politically charged cross cultural rant thread?

I was honestly suggesting the young guy get library books downloaded to kindle to save some cash and now we're arguing ABOUT SEAT BELTS?!?!

@thechosen1 @j0elsuf How many times am I going to read you guys apologize for getting into yet another pointless battle? Stop action faking and get to it.
@Kak Sorry I didn't stroke your ego as much as Johnnyboy did. But I do expect a teensy bit more of you for many reasons. We can take that to PM if it matters, but we don't need to. I love you like family. I do have laugh emojis at the comments I found funny, so maybe you're taking things too seriously? Suffice to say, if you had kept your rant to the rant thread, I probably wouldn't have said anything. There's a time and place and imo this thread wasn't it.

Now, can we all just drop the attitudes and platitudes, stop threadjacking and get back to helping someone figure out their shizz?

This is supposed to be a conversation about what to do with $1000.

 

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[Kak]

 

[Guest-5ty5s4]

This thread has everything.

- Actual good advice
- Pedantry
- Arguments over pedantry
- Politics somehow (??? the f*ck)
- Memes
- Actual idiotic "advice"
- MJ himself calling out the idiocy
- Fly by night OP

I'm honestly impressed

You're welcome.

 

[Johnny boy]

Even if you’re trying to find a place to put taxes from independent contract work that grows it instead of letting it sit in a savings account? Maybe investing that kind of stuff is too lucky but with the right moves it grows plenty in the next year before they’re due and pocket the profit.

Appreciate the straightforward talk though, someone has to say it

Put the money towards not being a damn independent contractor anymore.

If independent contracting can't scale then you should be using it as a stepping stone to something that does.

(work + investing your savings in the stock market) x 50 years = slowlane

(bust your a$$ + reinvest all profits into scalable business) x 5 years = fastlane

 

[Kak]

I have read about 70 books in the past 2 years since I began. I fully understand the only way to truly know the answers to these questions are to continue to learn and experience things for myself; I just have FOMO I guess that there is an "easy" route to make my little money grow.

Thanks for the response! Appreciate the wisdom

You are very welcome.

To answer that question... No.

If there was an easy way to make a little money grow, there would be an easy way to make a medium or large amount of money grow. There is a reason why hedge fund managers have historically not done much better than just the S&P. There is a reason why low risk money is so expensive. There aren’t shortcuts.

Sometimes there are temporary bets that pay off... That is what you are seeing with the robinhood crowd. The dumb money is always, eventually, the group left holding the bag on some of the miserable choices they flippantly make.

 

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[Kak]

An alternative picture:

I want a book with a list price of $60 (I'd say that's a more fair price for a 600pg in my experience). Some textbooks are hundreds of dollars.

I check the book availability on my phone. If they don't have it I request it from that or another library in the system. I wait a few days and am notified when it's come in.

I drive my 14MPG SUV to the stale government building (which if it were more modern or fancier, some would complain their taxes were wasted on making the building nicer!).

I put on the cloth mask I bought from Amazon for $10, which is reusable, way softer, more breathable and comfortable than the disposable ones. Regardless of my views on the effectiveness of masks or my thoughts of the risks of COVID, I put it on anyway as a pro-social gesture to those who absolutely are scared or uncomfortable being around unmasked people, without casting judgement on them.

I get my book. While I'm there I have a chance to skim through many other related books. Perhaps I find one or more others that have information I need. A human being at the front desk helps me check out. The books are probably sanitized on their way in and out of the library.

If I'm not finished with my book I extend my loan from my phone.

---

If I'm fairly certain about the book and it seems like it's on hold indefinitely or not at the library, I'll buy it.
If I like the book enough that I need more time with it after a week, I'll probably end up buying.
If I find the book valuable enough that I want it always as a reference, I'll buy it.

My 2c.

But how do you avoid meningitis?

 

[Kak]

If your a man of culture like me

LOL

 

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[j0elsuf]

Every law is a threat to your liberty.

Some of those laws are totally justified.

If you don’t comply with the law, you will be punished.

If you don’t obey the punishment, it escalates.

It can escalate all the way to imprisonment or violence. That’s just how it works.

As a "Big L" Libertarian, I'm gonna argue that it DOES escalate to imprisonment and violence. And quite often.

Just check out Adam Kokesh's channel. Dude has been documenting this kind of stuff for close to a decade now.

Cops point a gun to your head in the US whenever they catch you without a seatbelt? As f*cked up as your country is, I doubt that.

Yes. Police can literally shoot you for no reason and completely get away with it here in the US. We're more of a poor man's North Korea than you'd ever expect.

Was pulled over for literally no reason a couple years ago and had a gun to my head. But no one bats an eye at this kind of thing.

If I want to be stupid enough to not wear a face cover or seat belt, I shouldn't need to get fined or beaten or shot because of it.

We're taught to fear law enforcers here in the US. Is that a good thing?

You tell me.

 

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[Kak]

Thread is a HOT TOPIC, and for all the wrong reasons.

Mark it GOLD MJ!

This thread is the new Game Stop.

 

[Kak]

Ah... The only thing we are missing now is JScott to tell us all that “in fact” none of this is funny.

 

[Raoul Duke]

This thread has everything.

- Actual good advice
- Pedantry
- Arguments over pedantry
- Politics somehow (??? the f*ck)
- Memes
- Actual idiotic "advice"
- MJ himself calling out the idiocy
- Fly by night OP

I'm honestly impressed

It is missing only one thing.

The Well Defined Man.

 

[Ernest P.]

Long live Robinhood

$GME to the moon