Hottest city in the world

My boss?

I have been reading and researching how millionaires came to be. I saw that most of them are business owners with frugal instincts. You will never become a millionaire working for someone else. Neither will you become a millionaire if you spend beyond your means. I know people who have this and have that only because of their high paying job. But without that job they wont last a year on their minimal savings and expensive life style. Now you and me, who plan accordingly and are bargain hunters, can last a few years.
So now that I know that I need to become self employed, I looked into business' for sale. None but one stood out to me that I could afford with a loan. Too bad it was already under contract. I would have been that person making $74k a year. So I will continue on and keep checking for an opportunity.
Besides having high income, one needs to look at their own expected net worth and retirement plan. All those expensive things in your million dollar home will not raise your net worth. It will only decrease it since not much is saved after paying for those expensive things. When you retire, what will you have to live off of? You will look back at yourself and say "Gee, how foolish was I when I was making all that income". And what will you have? Hopefully a retirement account, retirement savings, investments, or pension plans.   
So keep on giving effort and remember to plan ahead. Its now what you are making now, but what you will do with it. Also read this book The Millionaire Next Door

Join up or shut up

So I haven't received any members considering my blog is still new. Feel free to comment, and ask questions about anything. I am here to help and also here other people's point of view. I hope the year has gone well for all of you, and next year only gets better.

What you Smokin' on?

know your rights!

There are many laws that protect you in any situation. You can remain silent, you can say you don't consent to searches, you can say you want a lawyer, or ask if you are free to go. Here is a helpful web page, there might be better ones out there but this is the one I found. www.flexyourrights.org
hooray for the 4th and 5th amendment.

Money Laundering

The tax man expects all of us to report our income. Most street pharmacists don't do this and end up getting caught like Al Capone. The PD didn't have enough evidence to convict him until they noticed he wasn't paying taxes on his unreported income. There are a few ways to work around this, which often require some extra effort. First of all, limit the amount you deposit at a time. More than 10k will be reported and they will try and find out where it is coming from (not an actual investigation). Even more than 1k will generate a report. This link explains a few ways of doing it.
http://www.wisebread.com/how-to-launder-money
This link explains deposits
http://www.bankingquestions.com/businessaccounts/q_depositreportedtoirs.html
The best thing and legal way to do is to just report your income on your taxes. Either claim self employment, or barter for goods and services. If you don't report your income and pay taxes, there will be penalties and a bigger chance of you being under investigation.
Another way that people are doing it is to be claimed as an employee of a business. You give them the cash while they give you the equal amount back in a check. Thus you are generating legitimate income. 

Need Versus Want

I know many of you love spending your money and smoking away all your profits. Do you really want to see your profit disappear like that? I know I sure don't. If you aren't making a little something for yourself then what are you doing this for? I know people who have been hustling for years and can't even afford to buy a car. What's the point in that. Focus on the main goal, to stack up lot's of cash and buy something worth saving for. Treating your friends to munchies and smoking all those blunts is taking away all your profit.
Before you decide to buy something in the store, think first if you need it or just want it. This helps me in all occasions and has saved me tons. I sometimes am a compulsive buyer and buy things because I can. Most of the time I regret buying the stupid junk and wanna return it. This is what I should be doing, and also all of you if you have already purchased an item. Don't let people tell you that you are cheap. Tell them you are just frugal. This means someone who likes use their money wisely and whether the item will last or if its worth it. They can't diss on you for that can they?Also check out this site for savings and investment strategies   http://genxfinance.com/the-top-5-ways-to-become-a-millionaire/   or   
http://moneywatch.bnet.com/saving-money/blog/devil-details/graduates-how-to-become-a-millionaire/2190/