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Millionaire Challenge
Comments
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hi everyone, i havent disappeared, been manic...leaving house at 730am and getting home around this time....argh
will update and catch up asap....more good news but it comes after a struggle..... keep sending out positive energy & its slowly making its way back :-)
hope you are all welltrainee millionaire (aka not there yet!)0 -
I love money.
But I always qualify this statement by also conveying that I love health and family more. (e.g. money isn't everything...)
However my point is that (some) people in this country seem to have a negative attitude to money and people who do well.
I enjoy the positive attitude about making money in this thread and long may it continue.
This quote caught my attention recently. Its by a WWE Professional wrestler called Ryback who's just started to get very popular with the audience.
"I love money and want to make millions upon millions of dollars, and I'm going to".
It made me wonder how this statement would go down if it was made by a sportsman/entertainer in this country. But even though they don't say it, they want it just as bad!0 -
Money = Freedom0
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Morning I was looking into Zopa last night I think it's a great idea. My only concern is that they don't seem to be regulated by anything ie the FSA. Is there a chance you could lose money as well ? I think this is a great place to invest small amounts.
What are other peoples thoughts?0 -
gothrockchic1 wrote: »Morning I was looking into Zopa last night I think it's a great idea. My only concern is that they don't seem to be regulated by anything ie the FSA. Is there a chance you could lose money as well ? I think this is a great place to invest small amounts.
What are other peoples thoughts?
From a quick read up on it, my understanding is that it is not regulated and really just provides an interface between a lender and a borrower.
You could lose money if the person that you have lent to doesn't pay you back, so yes there is some risk there, but that is why the rates you can receive are higher than sticking the cash in a savings account.0 -
Yes this was my understanding too.
There is risk attached which is why I would only put aside small amounts that I could afford to "gamble" with. Just like share-trading I guess.
The completely risk free accounts pay such pitiful rates of interest that don't even keep pace with inflation. The average 2% return isn't going to make me my million:rotfl:
For me it's about spreading risk - not putting all my eggs in one basket. So the bulk of my money will be in property - because that is what I know and understand, maybe some bonds, and then some dribs and drabs will be stocks and shares and maybe . something like Zopa.
Jack - I agree with your thoughts, so many people are taught to have very negative thoughts about money ie "money is the root of all evil", that kind of thing. So many people seem to thing that people with money are by definition nasty and horrible and that they couldn't possible have made money by being decent and honest.
And yet - there are just as many nasty and vicious poor people out there as there are nasty and vicious rich people. Money isn't the be all and end all - it's just a tool. I think it's how you use it that counts.
Jack - you are so right - money cannot buy health and happiness. But - if you do get sick it can help provide better medical care, private nursing if required and the necessary equipment to make life more comfortable.
I would dearly love to bring my OH home but I would need a team of nurses and carers and I just don't have that kind of money.
I agree with McKeynes - I think that money gives you freedom and choice. That means a lot to me, I like freedom and choice.
A life on benefits or being a wage slave is not a life which has much freedom and choice.
Tink - good to hear from you. Glad that you are busy and things are going well.
I've been having a rough couple of weeks, both mum and OH have had major setbacks. I've been under enormous strain and am very tired.
I am having an "at home" day because I am awaiting a delivery of some furniture - so having a bit of catch up and a rest.
And it's snowing.......0 -
Cactus_Jack wrote: »However my point is that (some) people in this country seem to have a negative attitude to money and people who do well.
Unfortunately you're correct, and I think it's quite a big number. In a lot of cases though it's all about attitude, but it's easy to get into a rant about spongers and whiners and the "I'm entitled" generation here so I won't. Luckily if you do particularly well you can afford to insulate yourself from those people and surround yourself with people you do like, and who like you. And people who are good at managing your money, it never pays to alienate them apparently.
It's similar to the British trait of 'build them up to knock them down' I think, though I'm not entirely sure it's correct to call it British. The Americans don't seem to have this problem, but maybe if I read their equivalent of some of our tabloids I'd have a different view. From hearing successful people talk it seems it's a trait that's unique to the UK.
I too have been looking at P2P lending, I'm not sure what the piece on 'The One Show' is going to do for interest rates though.0 -
gothrockchic1 wrote: »Morning I was looking into Zopa last night I think it's a great idea. My only concern is that they don't seem to be regulated by anything ie the FSA. Is there a chance you could lose money as well ? I think this is a great place to invest small amounts.
What are other peoples thoughts?
Correct, there is no FSCS-style compensation scheme on these, but the various companies involved have different ways of trying to mitigate the risk. You basically have either the risk that the person you loan to does not pay it back, or the risk that the P2P company you use goes under.
There's a more detailed article here, I don't know if you've seen it: http://www.moneysavingexpert.com/savings/peer-to-peer-lending0 -
I think it is a risk worth taking. Interest rates are pitiful right now.
I am hoping to invest a small amount in and see how it goes.
Thanks guys.0 -
Good morning Millionaires in the making
I often pop by and read this thread with interest but don't often post, but after the recommendation of the book ; A pocket full of Holes and dreams, i purchased and read the whole book within a day and thoroughly enjoyed it, it was right up my street with the Market based theme, and an easy enjoyable read. So thank you for sharing
I have been hang out on another forum i found recently, some of you may find it helpful here's a link https://www.thewholesaleforums.co.uk
Its full of helpful people who run small and some larger businesses, most are really helpful and will offer advice and guidance.
Right i'm off to the Carboot sale to start on my first million :rotfl:
Looking forward to some updates soon, Bye for now.Build your own dreams ~ or someone will hire you to help build theirs
£10 a day = £335.99 Road Kill Rebel #50 =12P0
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