Financial Security ---- Best strategies learned and shared ---- for Financial Freedom

[rcw1]

Believe nothing until you see it for yourself;
Loyalty, a strength of character and dignity conveyed in bad times;
Common sense; and
Show compassion.

Kind regards
rcw1

 

[farmerge]

LOL.
My Brother and I used to equate purchased items as in how many buckets of grapes we had to pick to buy them.

Lots and lots if being paid piece work

 

[farmerge]

Yeah even when seeing my GP I get reminded "time is money" lol says to me make another appointment/come back another time (so GP can 'milk medicare' as much as possible)

A cash cow that needs to tighened up significantly

 

[tech/a]

 

[qldfrog]

I would probably disagree on the ranking but not the items.
And ranking might vary ..well does vary along your progress/age

 

[tech/a]

A great deal of this rang true to me
Don’t think there needs to be a sequence
Just an understanding.

 

[farmerge]

No 1.
it seems that is how the bludgers want to live, then sponge of the long suffering tax payer.

 

[tech/a]

No 1.
it seems that is how the bludgers want to live, then sponge of the long suffering tax payer.

I see where your coming from
But I’m sure the intention is that working for an hourly wage restricts your financial earning capacity.
Something I learnt in my first job as a pump jockey ( gas station ) I made more from sales commission than my wage .

Working for myself gave me leverage on people projects and machinery giving me an earning capacity most can only dream of .

 

[farmerge]

I see where your coming from
But I’m sure the intention is that working for an hourly wage restricts your financial earning capacity.
Something I learnt in my first job as a pump jockey ( gas station ) I made more from sales commission than my wage .

Working for myself gave me leverage on people projects and machinery giving me an earning capacity most can only dream of .

@tech/a As a contractor I guess that I generally work on an hourly rate, somewhat variable though.
If the quoted job is completed quickly, without any hassles then it's surgeons' rates, if problems occur then street sweeper pickings.
Swings and round-a-bouts

 

[dyna]

And ranking might vary

No. 5 rang the first bell for me , a long time ago ,
As an apprentice builder .... meeting a financially literate tradie who talked me into joining the company 's staff superannuation scheme and to keep paying into it long after I'd moved to America for a spell . Probably not allowed to do that from o.s. , these days . So ,when any opportunities come along in life , grab 'em while you can .

That fortuitous encounter led naturally enough to R.E. and sharemarket investing .
Share investing required a fair bit of homework on my part while the other thing was really down to dumb luck and neg . gearing in the right place at the right time. Again , not sure that could be done in the Sydney market , these days .

Wandering off topic here , but I think a young person today would find it a lot harder to achieve financial independence in this country . I'd advise them to head for the biggest and greatest market in the world , in the land of the free .......and don't come back !

( You'll get to just love the gun culture , too . I know I did ..... Oops ! )

 

[qldfrog]

@tech/a As a contractor I guess that I generally work on an hourly rate, somewhat variable though.
If the quoted job is completed quickly, without any hassles then it's surgeons' rates, if problems occur then street sweeper pickings.
Swings and round-a-bouts

Step one: work for yourself more than someone else, per task if you can..
Step 2 have people working for you
I did not really complete that task as the startup ultimately failed with covid but a required step
And ultimately, do not work, let someone else/ your assets do the job..relatively passive.. current state

 

[qldfrog]

No. 5 rang the first bell for me , a long time ago ,
As an apprentice builder .... meeting a financially literate tradie who talked me into joining the company 's staff superannuation scheme and to keep paying into it long after I'd moved to America for a spell . Probably not allowed to do that from o.s. , these days . So ,when any opportunities come along in life , grab 'em while you can .

That fortuitous encounter lead naturally enough to R.E. and sharemarket investing .
Share investing required a fair bit of homework on my part while the other thing was really down to dumb luck and neg . gearing in the right place at the right time. Again , not sure that could be done in the Sydney market , these days .

Wandering off topic here , but I think a young person today would find it a lot harder to achieve financial independence in this country . I'd advise them to head for the biggest and greatest market in the world , the land of the free .......and don't come back !

( You'll get to just love the gun culture , too . I know I did ..... Oops ! )

When young, the company you keep is critical, for mentoring motivation.i lacked that due to circumstances.
Less important later on but still i would be better off with proper company: to join invest, to get aware of opportunities and to leverage owns edges with / to others

 

[tech/a]

@tech/a As a contractor I guess that I generally work on an hourly rate, somewhat variable though.
If the quoted job is completed quickly, without any hassles then it's surgeons' rates, if problems occur then street sweeper pickings.
Swings and round-a-bouts

@farmerge ---me too(contractor) just a little different. We are similar.
I leverage my employees' hourly rate with billable hours. If they are efficient, I win (from a Quote); if not, I don't win as much, but I have 4 crews and 24 people.
Then there is Leverage on equipment, Specifically Pendulum Drill Rigs on Excavators. We price these at 4-6 meters an hr and $275 an hr.
One site this morning is doing 15 meters an hour, which is around $800 an hour—now that's a great earn, and we have 9 of them.
We always get 4-6 often 10-12.

Not to mention product margins.

Thats what being self-employed is all about leveraging assets and your staff are huge assets.