buncha nonsense get rich quick amway bullshit… increasing your income by half for 7 years starting at 20k ~= 300k. are you a neurosurgeon by any chance? a wall street broker? ceo of a start up?
saving money requires a job to begin with, excess money left over after expenses and an investment vehicle equipped with full air bags, a good motor and quick handling. in return, saving money means you’re not spending money which means companies aren’t making profits which means people lose jobs which means you lose your job and cant save money.
here’s an easier, equally good if not better 7 year program, at least in theory. get a credit card. then another. then another. and another. load up on cards, build up some 50k worth of available credit; 50 cards @ 1k each or whatever. cash it all out and open a roth ira. invest in a fund that averages better than 10%. subsequently cancel all your cards.
the ira will protect the money from garnishment or seizure. the cc companies will hound you for years, first directly then by selling off your debt to another agency. at or near the end of 7 years, the collection mail will start reducing the amount they’re willing to settle for. look for something like 70% off. note that late charges, overlimit charges, etc will accrue and pad the debt to a degree. at least until some company defined limit is reached.
in that time, your ira will have nearly doubled. withdraw the necessary amount to pay off the collections.
settle the debt at 70% and rebuild your credit right away; get a dept store cc, secured cc, whatever. in a year or two, the cc offers will start rolling back in and you repeat the process.
btw, 7 years is about the doubling time for 10% interest. you could start your kid’s retirement funds now by depositing 10k into a 10% account and add 1k to it every year. in 50 years, your kids will be ready to retire with their million.
DISCLAIMER
None of the information contained in “Crazy Money” constitutes a recommendation by Mr. drunkle, TheAvenue.com or iCNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. drunkle’s past results are not necessarily indicative of future performance. Neither Mr. drunkle, nor TheAvenue.com, nor iMBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial adviser or attorney.
