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Added for You - How I made $122,000 and lost $132,000 - A lesson in Assets vs Liabilities
As people know, Google Adsense has been a craze everywhere around the Internet. When you look around a website and see some ads of different colors and styles, those are usually Google Adsense, stated with an 'ads by Google' sentence.Yet, there are just too many people who fail registering for a Google Adse
This means that we have made around $122,000 on our original investment in the house and lost $10,000 on the car. It's actually worse than that. By buying the car instead of the neighbouring house we have forgone a possible $122,000
Before we actually look at what is commonly regarded as the 4 stages of team growth, it's worth spending some time understanding the team dynamics when, for exampleThe team gets together for the first time Someone leaves and someone joins an established team The team leader is
Just over 3 years ago I found myself with $75,000 to spend or invest. My wife and I needed a new car as the old one was 8 years old and not as reliable as it used to be, so we spent $40,000 on buying the latest model.
Our $75,000 was now reduced to $35,000.
We now made the wisest financial decision we have ever made (apart from buying our own home) and used the remaining $35,000 as a deposit on an investment property to help provide for our eventual retirement. The investment property cost a total of $178,000 including mortgage, conveyancing, and stamp duty costs.
Three years have gone by and this is what has happened.
The car has dropped in value by at least $10,000 and possibly more, but is providing good reliable transport.
The owner of the neighbouring property to our investment has put his identical property on the market for $319,000 which compares favorably with other properties in the area. As a conservative guess I would expect it to achieve a sale price of $300,000 or thereabouts.
This means that we have made around $122,000 on our original investment in the house and lost $10,000 on the car. It's actually worse than that. By buying the car instead of the neighbouring house we have forgone a possible $122,000 p
ON my quest to find a decent way to quit my day job and make money online. I came across a program called ultimate wealth package. While at the website, the first thing I noticed was the very first sentence on the page. It looked a little unprofessional, which made me a little skepticle from the get go.Afte
Our $75,000 was now reduced to $35,000.
We now made the wisest financial decision we have ever made (apart from buying our own home) and used the remaining $35,000 as a deposit on an investment property to help provide for our eventual retirement. The investment property cost a total of $178,000 including mortgage, conveyancing, and stamp duty costs.
Three years have gone by and this is what has happened.
The car has dropped in value by at least $10,000 and possibly more, but is providing good reliable transport.
The owner of the neighbouring property to our investment has put his identical property on the market for $319,000 which compares favorably with other properties in the area. As a conservative guess I would expect it to achieve a sale price of $300,000 or thereabouts.
This means that we have made around $122,000 on our original investment in the house and lost $10,000 on the car. It's actually worse than that. By buying the car instead of the neighbouring house we have forgone a possible $122,000
For most of us, our mortgage is our biggest expense and we have been conditioned to believe we just pay it and there is not much we can do about it. However, that is very untrue. With a mortgage acceleration program, you will be shown how to pay off your mortgage in 8-10 years without making any lifestyle change
Three years have gone by and this is what has happened.
The car has dropped in value by at least $10,000 and possibly more, but is providing good reliable transport.
The owner of the neighbouring property to our investment has put his identical property on the market for $319,000 which compares favorably with other properties in the area. As a conservative guess I would expect it to achieve a sale price of $300,000 or thereabouts.
This means that we have made around $122,000 on our original investment in the house and lost $10,000 on the car. It's actually worse than that. By buying the car instead of the neighbouring house we have forgone a possible $122,000
Many individuals have had trouble making a payment to a creditor from time to time. If you have had a prolonged history of making late payments, or skipping payments altogether, you may have developed what is known as a bad credit history, and perhaps you think that means you will be unable to get a credit card?
The owner of the neighbouring property to our investment has put his identical property on the market for $319,000 which compares favorably with other properties in the area. As a conservative guess I would expect it to achieve a sale price of $300,000 or thereabouts.
This means that we have made around $122,000 on our original investment in the house and lost $10,000 on the car. It's actually worse than that. By buying the car instead of the neighbouring house we have forgone a possible $122,000
There are so many old websites on the Internet where people no longer bother to upgrade them, yet if they were to be making money off these sites with AdSense or Click Ads then they might wish to continually upgrade them. Many believe that these older websites are littering the Internet with old information and ar
This means that we have made around $122,000 on our original investment in the house and lost $10,000 on the car. It's actually worse than that. By buying the car instead of the neighbouring house we have forgone a possible $122,000 profit, so the car has has actually cost us $162,000! The old car is still running and in daily use.
The end result is that we have a paper profit of $122,000 on the house and a technical loss of $132,000 on the new car ($162k - $30k residual value).
The moral of this story is to put your money into things that increase in value (assets), and NOT into things that decrease in value (liabilities). You may not have a large sum of money to invest in real estate but there are other asset classes like art, antiques, coins or stamps where there are plenty of smaller investing opportunities.
If you can remember this story of buying a house versus buying a vehicle next time you make a major purchase, you can evaluate how the purchase is going to affect your future wealth. Do you really need a new vehicle or a wide-screen TV? Would a low-mileage second-hand car, and keeping the existing TV be sufficient? Making the right decision now will have a huge bearing on your retirement.
Learning to distinguish between wants and needs, and investing in assets is the key to wealth creation a
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