25 Grand and a handful of dreams

[sweetmoose 0]

Now I'm not actually going to do this cause I still want to live comfortably (nice house/apartment, big t.v., video games, traveling) but it would be a dream of mine if I wasn't such a pussy.

So anyways, in about 4 months, I'll have about 25 grand in my bank account and no bills to pay, my question is how long do you think I could skydive off that if I lived like a bum, like a trailer near the dz or something, and do work for the dz for supplementary income. Now keep in mind that I would still have to do AFF and either rent or buy some equipment. It would probably be cheaper in the long run of course to buy some used or new equimpent than have to rent it every day, but it would take a big chunck out of the 25 grand pretty quick. Peace.

We die only once, but for such a very long time.

I'll believe in ghosts when I catch one in my teeth.

[squirrel 0]

Why live like a bum...make the 25K work for you...after all, you worked for it. Well maybe, depends if it was just handed to you.

I sold a collector car I have restored for 35k, paid off school, (had 25 k left, no bills) and got into real estate...make it happen, or you will be broke and living in a tin box. But if that is ok, than carry on.

________________________________
Where is Darwin when you need him?

[Gene03 0]

Invest the 25g wisely, rollover the interest.
Keep your job and retire early and enjoy your retirement.
Fuck it, just have one big blow-out party. People will remember and love you for at least two-three weeks.

“The only fool bigger than the person who knows it all is the person who argues with him.

Stanislaw Jerzy Lec quotes (Polish writer, poet and satirist 1906-1966)

[DougH 270]

In 100 jumps with rental you would have paid for some nice used gear.


Edit: but I agree with these guys, invest the money.

"The restraining order says you're only allowed to touch me in freefall"
=P

[sweetmoose 0]

I did earn the money myself working in Saudi Arabia, but I don't really believe in long term savings or long term investments. I prefer to live somewhat in the moment, no one knows when their time will be and I'd kick my dead self in the ass if I died with a bunch of money in the bank.

As for retirement, I should be able to pretty much retire off what my parents leave me in about 30 or 40 years, people in my family usually don't live past 80 and my parents would be in their 80's and 90's by then and I'd be between 53 and 63, they aren't rich exactly, but my mom is one of those investment geniouses that holds on to her money, besides, who knows if I'll even live that long.

By the way, I said I wasn't going to do the whole live on the dz thing, just curious how long I could last for, probably less than a year would be my guess, still gotta eat and what not, but it would be a hell of a ride.

We die only once, but for such a very long time.

I'll believe in ghosts when I catch one in my teeth.

[squirrel 0]

Quote

I did earn the money myself working in Saudi Arabia, but I don't really believe in long term savings or long term investments. I prefer to live somewhat in the moment, no one knows when their time will be and I'd kick my dead self in the ass if I died with a bunch of money in the bank.

As for retirement, I should be able to pretty much retire off what my parents leave me in about 30 or 40 years, people in my family usually don't live past 80 and my parents would be in their 80's and 90's by then and I'd be between 53 and 63, they aren't rich exactly, but my mom is one of those investment geniouses that holds on to her money, besides, who knows if I'll even live that long.

By the way, I said I wasn't going to do the whole live on the dz thing, just curious how long I could last for, probably less than a year would be my guess, still gotta eat and what not, but it would be a hell of a ride.

Dude, ever heard of a long term terminal illness? The money your parents have now can be consumed by medical bills. If you are planning on your inheritance for retirement, you had better do some finacial planning with your parents, now. As in trust acounts, extreme medical insurance, general insurace (anybody can get sued and loose it all). I mention all this because it is exactly what my parents have done. They have done very well coming from depression era farming families. So, to insure that the government or the hospital does not consume all thier hard work they have started investment accounts in the trust just to handle the estimated inheritance taxes on thier investments. (you can shelter more in a trust) They have purchased insurance for home medical care, and supplemental insurance. Trust me, you need to plan for these expenditures.

To live in the moment takes cash flow. Purchase rentals, get positive return on your money, and equity growth. You can spend the positive cash flow like a paycheck, or save it. I feel that being able to live in the moment is the ability to direct your life, day to day, moment by moment. You will never, ever be able to do this....working for someone else.

just my 2 cents (which will be worth 3 cents tommorrow)

________________________________
Where is Darwin when you need him?

[Gene03 0]

And it is their money not yours. (sweetmoose)
Seen too many good relations ruined when the kids cannot forgive their parents for growing old and dying.
Not a judgement call on you just a personal observation on life in general.

“The only fool bigger than the person who knows it all is the person who argues with him.

Stanislaw Jerzy Lec quotes (Polish writer, poet and satirist 1906-1966)

[squirrel 0]

Quote

And it is their money not yours. (sweetmoose)
Seen too many good relations ruined when the kids cannot forgive their parents for growing old and dying.
Not a judgement call on you just a personal observation on life in general.

oh, no personal judgement taken. whatever they leave the kids, there are 8 of us, is a bonus. my parents are the type that dont like to spend over $4 for a dinner...I keep telling them to spend it, I dont need it. It i too easy to make money in the US. The have finally taken my urge, and are traveling, and setting up college funds for my siblings kids.

________________________________
Where is Darwin when you need him?

[sweetmoose 0]

This got way off the topic of what I was originally asking, now we are talking about investments and inheritence, don't really care about that stuff anyways, besides, the way I live I'm not really planning on living to 80 or anything, I'd be happy with 60ish, and that's something no one can count on anyways.

And on the long term medical care stuff, I don't know for sure what kind of plans my parents have for that one, but I'm sure it's a good one and they've already planned on it, that's just how my mom is, I'm more like my dad and don't really worry about that stuff.

Anywho, thanks for all the advice, I'm sure it's all good stuff to think about, and maybe someday I will, or maybe I'll be like my dad and marry a woman who is a financial guru, we'll just have to wait and see how the crazy story works out.

We die only once, but for such a very long time.

I'll believe in ghosts when I catch one in my teeth.

[Faicon9493 114]

Quote

Now I'm not actually going to do this cause I still want to live comfortably (nice house/apartment, big t.v., video games, traveling) but it would be a dream of mine if I wasn't such a pussy.

So anyways, in about 4 months, I'll have about 25 grand in my bank account and no bills to pay, my question is how long do you think I could skydive off that if I lived like a bum, like a trailer near the dz or something, and do work for the dz for supplementary income. Now keep in mind that I would still have to do AFF and either rent or buy some equipment. It would probably be cheaper in the long run of course to buy some used or new equimpent than have to rent it every day, but it would take a big chunck out of the 25 grand pretty quick. Peace.

There is a better way of earning extra $$$ for skydiving. Take a look at www.mymonavie.com/mtanderson and PM me.

[SarahC07 0]

Find a good investment. Enjoy the money you'd get from interest. Keep working, add to your investment and watch it grow. Take some out to play once in awhile... but save it.

[squirrel 0]

Quote

This got way off the topic of what I was originally asking, now we are talking about investments and inheritence, don't really care about that stuff anyways, besides, the way I live I'm not really planning on living to 80 or anything, I'd be happy with 60ish, and that's something no one can count on anyways.

And on the long term medical care stuff, I don't know for sure what kind of plans my parents have for that one, but I'm sure it's a good one and they've already planned on it, that's just how my mom is, I'm more like my dad and don't really worry about that stuff.

Anywho, thanks for all the advice, I'm sure it's all good stuff to think about, and maybe someday I will, or maybe I'll be like my dad and marry a woman who is a financial guru, we'll just have to wait and see how the crazy story works out.

oh, there is nothing more boring or bland then discussing investing for the future. But he nomber one cause of bankruptcy in the US is medical bills. And, you keep saying that your not going to live till your 80, well so what are you going to do when you bust your ass skydiving, get in a car accident, or simply cant work. Will sitting in a tin box at the DZ be a life that you want. Not bashing on you, just trying to get you to think totally, and not incompletly.

But then again, I make money from renters who will never be able to stop paying rent because of thier lack of planning, so...carry on.

________________________________
Where is Darwin when you need him?

[Beerlight 0]

You haven't started AFF and your thinking of bailing on a job and living at a DZ.....

My suggestion is to finish AFF, put about 100 or more jumps under your belt......and then if you think it's worth it.....bail on a job, live however you wish and enjoy life...

[Gene03 0]

Ask your mom for advise. Sounds like she has her ducks in a row.
Plus she can be trusted.

“The only fool bigger than the person who knows it all is the person who argues with him.

Stanislaw Jerzy Lec quotes (Polish writer, poet and satirist 1906-1966)

[sweetmoose 0]

Maybe I should ask my mom for advice, but I probably wouldn't listen. Once again I'M NOT PLANNING ON ACTUALLY QUITTING MY JOB AND LIVING AT THE DZ. I just thought it would be interesting to see how long I could last on that much money (and I realize it's not a lot)

My actual plan is that I'm quitting this current job that I'm at cause I can't hardly stand Saudi Arabia any longer and moving back to the states where I will find a new job, before I came here I had two job offers in kind of electronic jobs that paid pretty good, so I'll look into doing something like that. The money I have now will not be invested, because I'll need a lot of it to buy a car, insurance, apartment, food, traveling to where my new job will be and all that jazz. Obviously I'm not gonna spend all of it, but once I've landed a job and started working I'm gonna start my AFF and start skydiving on weekend and that will take up a chunk of money too I'm sure.

A friend of mine I work with came up with an idea I actually like for investing my money, moving to the phillipeans with him and opening up a bar/pool hall in Angelas City, could be fun, and a great adventure, just got to check if there is a DZ in the phillipeans first, that would be the deal breaker. Damn I love not having any responsibilities!!!

We die only once, but for such a very long time.

I'll believe in ghosts when I catch one in my teeth.

[gofast_ER 0]

Quote

Quote

And it is their money not yours. (sweetmoose)
Seen too many good relations ruined when the kids cannot forgive their parents for growing old and dying.
Not a judgement call on you just a personal observation on life in general.

oh, no personal judgement taken. whatever they leave the kids, there are 8 of us, is a bonus. my parents are the type that dont like to spend over $4 for a dinner...I keep telling them to spend it, I dont need it. It i too easy to make money in the US. The have finally taken my urge, and are traveling, and setting up college funds for my siblings kids.

My dad is the same way. Him and his brother. They have a freakin INSANE!!! amount of cash saved in savings accounts and stocks...junk like that. My dad is blind so he dosen't need a car. He eatsfor probably less than 3 dollars a day. My uncle finally just bought a honda civic after he put 240 thousand miles on a mazda 626 (1986 I think)
The guy can easily afford probably whatever the hell he wanted but he just wont. I keep trying to encourge my dad to have fun with his money. Go on vacations....spend a little. have fun. He keeps telling me he is saving for the future. But I ask him, "what future?" I know it sounds kinda harsh. But he is already in his mid 50s. As far as I can see he is at his future where he should be having fun with his savings. What good is money if all you do with it is save, save, save and save. Only to be able to afford a nice funeral for yourself in the end???

Oh and with that 25 grand this is what I would do if I were in your shoes. I would go through AFF and any other coaching you might want. Buy all your gear. Maybe a little extra. From what I have seen it is an expensive sport to get in to but once you have made it you can darn near keep up with it earning mc donalds wages (I know. I'm in the army and am still able to keep jumping.....well...when I'm not here that is)
I went through AFF back in 2000 at perris. I was Working monday-friday 40 hours a week living at home. I had almost no bills. I knew I wanted to do this and that I would have to fight to make it happen. It was hard but I made it. It got way easier once I had a license and my own gear. It has been a helluva lot of fun and I don't regret 1 dollar spent on skydiving.

I may not agree with what you have to say but i'll defend to the death your right to say it.

[Rainbo 0]

You need somwe real advice here:
DZ trailer $500.00
DZ food $0.00 (dumpsters and people grilling out keep costs down)
DZ clothes $0.00 (always keep an eye on the shower house and around the bonfire the next morning)
DZ ride $50.00 (sorry but even skydivers pay to have thier old rides hauled away)
Jumps $25.00 (at least until your rated then you will NEED to pay to jump again)
Personal hygene $0.00 (What, your a skydiver. if you really feel the need to be clean keep an eye on the showwer house again)

Throw the rest in a high interest money market and have fun, you'll never know when there isn't going to be a tomorrow. Hey it's how I got to be what I am today.

Rainbo
TheSpeedTriple - Speed is everything
"Blessed are those who can give without remembering, and take without forgetting."

[lurch 0]

Useful information:
1: Angeles city is within rock-throwing distance of the runways in what used to be Clark airbase and is now "Clark special economic zone." The local girls are spectacularly beautiful. Filipina Britney lookalikes on every corner.
2: there is no operational DZ. I stopped by Clark last year for some wingsuiting on my way to Subic and had to charter a private pilot to get altitude. Approximate cost for a rented cessna to take 1 jumper to altitude: 96$/jump. There is a small flight school, "omni aviation". There are still a few skydivers left in the area but no actual jumping activity. The people in the area are pretty cool and friendly.
3: Your friend's investment idea is a thoroughly developed well established elaborate trap. When visiting there I hear about retirees intending to live out the golden years running a bar full of girls on a constant basis. There is an entire sub-industry dedicated to parting expats from their investments in attempts to start pool halls/girlie clubs/bars. This industry can be observed in action on P.Burgos street in Manila where there are endless numbers of short-lived nightclubs whose names change with stunning frequency. It works like this:
You get offered a great deal on a fixer-upper and buy it. You do not know that the guy offering the deal is working for the guy who owns the bar next to yours, who in fact already owns the one you are considering buying.
As soon as you open your doors your neighbor uses the money he made selling you the bar next door to renovate his own bar to far higher standards than you can afford. The locals avoid your place like the plague. Foreigners are all attracted to the glitzy place next door.
When you go under he offers to take it off your hands for 1% of what you paid for it. He then sells it to the next guy and repeats the cycle.
You're just a food item. The bar scene there is a financial pitcher plant, fall in drown and get digested. Your role in the local economy is to provide capital and leave when you are broke. Think brooklyn bridge/undevelopable everglades property setup with a different wrapper. This one has been done to death... make a few friends who have been there for years and ask around. If the friends you make there are trustworthy they will probably tell you about all this. Mine did.

Live and learn... or die, and teach by example.

[NewGuy2005 51]

I'm being blunt:

1) You sound like my 12 year old daughters

2) You say you are into living in the moment, but I'm willing to bet that you are saying that now because you have money now. If you were broke, you would not sound so whimsical

3) There are hundreds of scenarios that could run their course in which you will inherit ZERO money. Only a few are listed above. If you don't listen to anything else that anyone is telling you, believe this. I've seen it happen countless times

4) Google "financial calculators" and find out what $20,000 will be worth, untouched, in 35 years at 12% interest. Once you do that, try it again with 15 years instead of 35 and see how big the difference is

5) Take $20,000, open an IRA and invest it in an aggressive mutual fund and forget that you have it

6) take the other $5,000, take AFF and buy some good used gear

7) Dying young and penniless at the end of a well lived life is fine, but a little prudence early on can insure that it will be well lived.