Comments on: The Four Spending Tracks, Which One Are You On? http://www.johnchow.com/the-four-spending-tracks/ The Miscellaneous Ramblings of a Dot Com Mogul Sat, 22 Nov 2008 02:02:19 +0000 http://wordpress.org/?v=2.6.3 By: Austin http://www.johnchow.com/the-four-spending-tracks/#comment-150892 Austin Wed, 25 Jun 2008 05:11:45 +0000 http://www.johnchow.com/?p=4342#comment-150892 The thing is very very few can live off of just 10% but investing more than 10% is a good idea. The thing is very very few can live off of just 10% but investing more than 10% is a good idea.

]]> By: javi http://www.johnchow.com/the-four-spending-tracks/#comment-150663 javi Mon, 23 Jun 2008 16:20:46 +0000 http://www.johnchow.com/?p=4342#comment-150663 The amount doesn't matter, what's important is the habit and the thinking pattern. Don't think "I don't make a lot of money so I can't do this, it's only for Dot.com Mogules." That's the line of thinking that will keep you forever poor. Everyone can cut 10% on spending, it doesn't matter how little you make. You can start with 5% if 10 is too much, then move the percentage up as your income increases. The more you invest carefully the faster you get richer. I started making money online a few years ago while at the time I was in the red barely surviving off web development work. Although I was negative cashflow I started saving a very small amount to save, invest and donate. (about 4%) Now i have a small web company and live off about 15% of income and the other 85% is re-invested. By the way, I used to be on track 2 before I brainwashed myself with Rich dad material. The amount doesn’t matter, what’s important is the habit and the thinking pattern. Don’t think “I don’t make a lot of money so I can’t do this, it’s only for Dot.com Mogules.” That’s the line of thinking that will keep you forever poor.

Everyone can cut 10% on spending, it doesn’t matter how little you make. You can start with 5% if 10 is too much, then move the percentage up as your income increases. The more you invest carefully the faster you get richer.

I started making money online a few years ago while at the time I was in the red barely surviving off web development work. Although I was negative cashflow I started saving a very small amount to save, invest and donate. (about 4%) Now i have a small web company and live off about 15% of income and the other 85% is re-invested.

By the way, I used to be on track 2 before I brainwashed myself with Rich dad material.

]]> By: 4 vías de gastos http://www.johnchow.com/the-four-spending-tracks/#comment-150659 4 vías de gastos Mon, 23 Jun 2008 15:40:48 +0000 http://www.johnchow.com/?p=4342#comment-150659 [...] Este post de John Chow explica a la perfección uno de los principios que repito mucho en éste blog sobre la manera de hacerse rico y libre. Según Chow hay 4 vías o hábitos que la gente emplea en gastar su dinero: [...] [...] Este post de John Chow explica a la perfección uno de los principios que repito mucho en éste blog sobre la manera de hacerse rico y libre. Según Chow hay 4 vías o hábitos que la gente emplea en gastar su dinero: [...]

]]> By: Turn One Pound Into One Million http://www.johnchow.com/the-four-spending-tracks/#comment-150275 Turn One Pound Into One Million Fri, 20 Jun 2008 10:58:23 +0000 http://www.johnchow.com/?p=4342#comment-150275 The richest Man in Babylon states that you should save 10% of your earnings and pay of fyour debts with 20%. At the moment I am paying off y debts with about 60% and spending the rest. I hope that I can redress this balance as my earnings increase and my debts decrease. The richest Man in Babylon states that you should save 10% of your earnings and pay of fyour debts with 20%. At the moment I am paying off y debts with about 60% and spending the rest. I hope that I can redress this balance as my earnings increase and my debts decrease.

]]> By: » 4 pitfalls of living beyond your means|i was denied credit http://www.johnchow.com/the-four-spending-tracks/#comment-150049 » 4 pitfalls of living beyond your means|i was denied credit Thu, 19 Jun 2008 01:53:50 +0000 http://www.johnchow.com/?p=4342#comment-150049 [...] Chow listed out 4 spending habits that one could follow in response to a question about how much he spends. His answer sparked a lot [...] [...] Chow listed out 4 spending habits that one could follow in response to a question about how much he spends. His answer sparked a lot [...]

]]> By: Timon Weller of Buyers Web http://www.johnchow.com/the-four-spending-tracks/#comment-149670 Timon Weller of Buyers Web Tue, 17 Jun 2008 02:06:42 +0000 http://www.johnchow.com/?p=4342#comment-149670 I'm surprised by how much people spend on there online business going by these comments... I make a fulltime living off online and i only spend about 10% of my earnings back into the business... I’m surprised by how much people spend on there online business going by these comments… I make a fulltime living off online and i only spend about 10% of my earnings back into the business…

]]> By: Affiliate Confession http://www.johnchow.com/the-four-spending-tracks/#comment-149658 Affiliate Confession Tue, 17 Jun 2008 01:41:25 +0000 http://www.johnchow.com/?p=4342#comment-149658 At one point while doing the 9 to 5 thing I was able to double my income in about 3 years by switching careers and found it absolutely fascinating that there were people making $50,000 per year (5 years ago) living pay check to pay check. That's a poor way to spend money. At one point while doing the 9 to 5 thing I was able to double my income in about 3 years by switching careers and found it absolutely fascinating that there were people making $50,000 per year (5 years ago) living pay check to pay check. That’s a poor way to spend money.

]]> By: Craig Grant http://www.johnchow.com/the-four-spending-tracks/#comment-149555 Craig Grant Mon, 16 Jun 2008 13:09:47 +0000 http://www.johnchow.com/?p=4342#comment-149555 I have been working full time online since 1999. From 2000 to 2003 I spent about 80% on the biz and I earned millions. But with so much $$ my life got very interesting and allot gained allot more frinds and responsibilites that had nothing to do with my internet busuniess. As time went I spent less $$ on the biz.. and eventually it all fell apart and I had to start from scratch. Now I spend $5000 a month on Internet ads (about 50%) but after reading this post I wil strive to spend more as my monthly income grows. Craig I have been working full time online since 1999. From 2000 to 2003 I spent about 80% on the biz and I earned millions. But with so much $$ my life got very interesting and allot gained allot more frinds and responsibilites that had nothing to do with my internet busuniess. As time went I spent less $$ on the biz.. and eventually it all fell apart and I had to start from scratch. Now I spend $5000 a month on Internet ads (about 50%) but after reading this post I wil strive to spend more as my monthly income grows.
Craig

]]> By: Steve McGrath http://www.johnchow.com/the-four-spending-tracks/#comment-149552 Steve McGrath Mon, 16 Jun 2008 11:53:02 +0000 http://www.johnchow.com/?p=4342#comment-149552 I would disagree on the urgency. 1. The sooner you start the better for you. The compound interest will work wonders for you. I saw many examples over the time and those that started much later had to put the a lot of money and still did not have near the same amount that someone that starter earlier. The example I partly remember more was this: Person 1: 22-32 years a person invested $1000 and stop. Person 2: 55-65 years a person invested $1000 and stop. At 65, Person 1 had a lot more money than person 2. I don't have to final number but the difference was a big. It's the principal that I made more of an impact. 2. Call me pessimist but I don't expect much from CPP or OAS later on. With the population getting older, the ratio of workers paying for CPP/OAS is declining. Unless Canada start to accept a lot more workers from immigration and we have more babies for on the longer term(practice does not count :lol: ) , I'm investing more in my RSSP. At least, it's mine. ;) CPP/OAS will just be a bonus IF I get any. Don't depend on the gov too much for that. Play safe. :wink: I would disagree on the urgency.

1. The sooner you start the better for you. The compound interest will work wonders for you. I saw many examples over the time and those that started much later had to put the a lot of money and still did not have near the same amount that someone that starter earlier.

The example I partly remember more was this:
Person 1: 22-32 years a person invested $1000 and stop.
Person 2: 55-65 years a person invested $1000 and stop.
At 65, Person 1 had a lot more money than person 2. I don’t have to final number but the difference was a big. It’s the principal that I made more of an impact.

2. Call me pessimist but I don’t expect much from CPP or OAS later on. With the population getting older, the ratio of workers paying for CPP/OAS is declining. Unless Canada start to accept a lot more workers from immigration and we have more babies for on the longer term(practice does not count :lol: ) , I’m investing more in my RSSP. At least, it’s mine. ;) CPP/OAS will just be a bonus IF I get any. Don’t depend on the gov too much for that. Play safe. :wink:

]]> By: stock http://www.johnchow.com/the-four-spending-tracks/#comment-149523 stock Mon, 16 Jun 2008 03:49:54 +0000 http://www.johnchow.com/?p=4342#comment-149523 Invest 90%, spend 10% Ideally, yup that is the ratio.. Investing wisely by doing research is what seperates the men from the boys. John, you've got a great leg up with the monthly income that you can pile away after taxes. It opens up alot more investing opportunities then alot of people can look it... Invest 90%, spend 10%
Ideally, yup that is the ratio..
Investing wisely by doing research is what seperates the men from the boys. John, you’ve got a great leg up with the monthly income that you can pile away after taxes. It opens up alot more investing opportunities then alot of people can look it…

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