Financial post of the week : Julian Kelly [Archive]

julian_kelly

07-10-2003, 10:12 AM

sup Mark...slow motion on my end bro. Real estate is always a good investment. People often doze on buyin mortgages or carying back mortgages. They are good investments because they are backed buy real estate, plus you get payments coming to you every month for 30 years or as long as it takes to pay off the mortgage.

lil ray...Im still a firm believer that the best investment is your own business - whether part time or full time. it is something that you can control.

Tony...actually I havent been watchin the markets too much lately. I do dollar cost average into a few index funds and a few stocks every month; every now and then I'll do some option plays or long or short something, otherwise im not too hip to whats goin on.

peace
julian kelly

DeesKo

07-10-2003, 11:10 AM

What about for someone looking to invest, say, $100 to $300 a month into something on the side, easily managed, and post-tax ?

I've already got my 401k maxed but I'm about to pay my vehicle off, as well as my father's mortgage so I'll have some extra cash to throw into something for the long term... a little bit adds up.

Plus, I think there's a misconception that you need big cash to play the game, so any advice to those without the multiple zeros anyone ?

Peace!

Rob

liL Ray

07-10-2003, 11:20 AM

Originally posted by julian_kelly:

lil ray...Im still a firm believer that the best investment is your own business - whether part time or full time. it is something that you can control.
peace
julian kelly heah, julian, the wife and I are thinking about this, but maybe about 3 to 5 years away...what should we be doing(haha @ "we be doing) to prepare. Looking at maybe a franchise like Mail Boxes Etc./UPS store....also, where can I look for grants, private investments, private placements, etc., for this opportunity?

thanks in advance, julian...

mhd

07-10-2003, 11:45 AM

Julian, two questions, one public, one private:

in addition to Rich Dad Poor Dad; and The Millionaire Next Door, any books to recommend regarding personal financial philosophy,
also check your pms

ruse

07-10-2003, 11:45 AM

Originally posted by liL Ray:
<blockquote>quote:<hr />Originally posted by julian_kelly:

lil ray...Im still a firm believer that the best investment is your own business - whether part time or full time. it is something that you can control.
peace
julian kelly heah, julian, the wife and I are thinking about this, but maybe about 3 to 5 years away...what should we be doing(haha @ "we be doing) to prepare. Looking at maybe a franchise like Mail Boxes Etc./UPS store....also, where can I look for grants, private investments, private placements, etc., for this opportunity?

thanks in advance, julian... [/QUOTE]Hi Ray, if you are looking to franchise I would recommend that you avoid retail...
My uncle and i run an AlphaGraphics printshop (also a franchise) which is more focused on business-to-business transactions (alth we dont turn away retail). We did a survey before we opened up and about 9/10 owners were happy with the support they were receiving from the corporate center (which is based in Utah).
PM me if you want to know more about it. peace
Ruse

mhd

07-10-2003, 12:29 PM

ruse, one question if you don't mind answering it here, what city are you guys in?

julian_kelly

07-10-2003, 12:54 PM

The options are infinite. If you have tolerance for the market, look into puttin money every month into a S&P index fund. The S&P is the standard that everybody bases rates of return against.

Very simple stuff: http://www.spdrindex.com/ourfunds/
http://www.vanguard.com vanguard index 500
http://www.fidelity.com fidelity spartan market
http://www.dreyfus.com dreyfus basix S&P 500
http://www.transamericafunds.com Transamerica Premier Index

You cant intest in these funds on your own, but I would consult with a stock broker because they can elaborate on the subjet and be more detailed in terms of strategy and the picking of individual stocks if you choose to go that route. Make sure you find a broker that knows what theyre doing...interview several and ask how long theyve been in the business...ask for referals and also ask what their rates of return have been for each year that worked. Nevertheless, never let a broker handle your money blindly...always research along with them and keep them on their toes

You may also want to save up a few hundred or a few thousand and start a part time business. You can accumulate money faster in the short term (1 year or less) and the money you generate from your business in the short term can help you buy more assets for the long term.

Watching money grow with the buy and hold stragety in the stock market is like watching paint dry. Learn to make $ in the short term, invest it for the long term and the paint dries a whooole lot faster.

peace
julian kelly

Originally posted by DeesKo:
What about for someone looking to invest, say, $100 to $300 a month into something on the side, easily managed, and post-tax ?

I've already got my 401k maxed but I'm about to pay my vehicle off, as well as my father's mortgage so I'll have some extra cash to throw into something for the long term... a little bit adds up.

Plus, I think there's a misconception that you need big cash to play the game, so any advice to those without the multiple zeros anyone ?

Peace!

Rob

liL Ray

07-10-2003, 01:00 PM

Originally posted by julian_kelly:

You may also want to save up a few hundred or a few thousand and start a part time business. You can accumulate money faster in the short term (1 year or less) and the money you generate from your business in the short term can help you buy more assets for the long term. peace
julian kelly

any examples...other than the car wash business you mentioned some months ago...that was a great concept by the way.

liL Ray

07-10-2003, 01:03 PM

Can we just get Mr. Kelly his own investment forum please....

also, julian, how profitable are those hot dog vendor stand and how/where can I get info on these?

...thanks julian, in advance.

imported_Gman

07-10-2003, 01:05 PM

Originally posted by julian_kelly:
The options are infinite. If you have tolerance for the market, look into puttin money every month into a S&P index fund. The S&P is the standard that everybody bases rates of return against.

Very simple stuff: http://www.spdrindex.com/ourfunds/
http://www.vanguard.com vanguard index 500
http://www.fidelity.com fidelity spartan market
http://www.dreyfus.com dreyfus basix S&P 500
http://www.transamericafunds.com Transamerica Premier Index

You cant intest in these funds on your own, but I would consult with a stock broker because they can elaborate on the subjet and be more detailed in terms of strategy and the picking of individual stocks if you choose to go that route. Make sure you find a broker that knows what theyre doing...interview several and ask how long theyve been in the business...ask for referals and also ask what their rates of return have been for each year that worked. Nevertheless, never let a broker handle your money blindly...always research along with them and keep them on their toes

You may also want to save up a few hundred or a few thousand and start a part time business. You can accumulate money faster in the short term (1 year or less) and the money you generate from your business in the short term can help you buy more assets for the long term.

Watching money grow with the buy and hold stragety in the stock market is like watching paint dry. Learn to make $ in the short term, invest it for the long term and the paint dries a whooole lot faster.

peace
julian kelly

<blockquote>quote:<hr />Originally posted by DeesKo:
What about for someone looking to invest, say, $100 to $300 a month into something on the side, easily managed, and post-tax ?

I've already got my 401k maxed but I'm about to pay my vehicle off, as well as my father's mortgage so I'll have some extra cash to throw into something for the long term... a little bit adds up.

Plus, I think there's a misconception that you need big cash to play the game, so any advice to those without the multiple zeros anyone ?

Peace!

Rob [/QUOTE]1. A great book to read is Mutual Funds for Dummies. Don't let the name fool ya.

2. If your 401K\403B is maxed out I would do a Index fund like Julian suggests but do it in a Roth IRA. This is aftertax money but the money will grow tax free and you can take it out upon retirement tax free. In fact its looking like one may want to max out a Roth IRA first and then do a 401K.

-Gerard

[ July 10, 2003, 02:06 PM: Message edited by: Gman ]

imported_Gman

07-10-2003, 01:16 PM

Maybe we should do a financial post of the week or something like that. graemlins/OLA.gif

julian_kelly

07-10-2003, 01:17 PM

Congrats on your and your wife's decision ray!

I'm not very familiar with fanchises, but I know there are tons of books and magazies on the market about franchises...check your local book store and library. Off the top of my head I know Entreprenuer magazine has alot on franchises

Some steps may be to:
1. Introduce yourself to owners of every franchise that you enter into. Pick their brain about the pros and cons of thier business.

2. Get your debt in check. If you havent already, analyze your personal debt and put together a strategy to get rid of as much of it as you can. Also, if you havent, develop and budget, because when doing business, times can get very lean.

3. Clean up your credit. Gman has posted some stuff on this

4. Study legal structures. Recognize the value (pros/cons) of a s-corp, c-copr, llc, etc.

5. Begin to establish credit for your business even if you havent started it. Get a business license/tax id #. Open a banking account and start to make credit card purchese with your business. That way when you start you will have at least some established credit.

6. Search the internet/books/library on basics on how to start a business.

7. Check with local colleges for information on starting businesses. Usually state colleges have business centers and give away free information and counseling on all the stages of starting a business.

8. Meet and talk with many bankers. They can give you strategies on how to establish credit and give you advice on how to get loans

9. Find a mentor. Find somebody who has what you want and find out how they did it. Also network to find big money people because they may want to partner with you or help fund what you do.

10. Read "Rich Dad Poor Dad" and "Cash Flow Quadrant" by Robert Kiyosaki if you havent already

julian kelly

Originally posted by liL Ray:
<blockquote>quote:<hr />Originally posted by julian_kelly:

lil ray...Im still a firm believer that the best investment is your own business - whether part time or full time. it is something that you can control.
peace
julian kelly heah, julian, the wife and I are thinking about this, but maybe about 3 to 5 years away...what should we be doing(haha @ "we be doing) to prepare. Looking at maybe a franchise like Mail Boxes Etc./UPS store....also, where can I look for grants, private investments, private placements, etc., for this opportunity?

thanks in advance, julian... [/QUOTE]

imported_Gman

07-10-2003, 01:20 PM

Originally posted by mhd:
Julian, two questions, one public, one private:

in addition to Rich Dad Poor Dad; and The Millionaire Next Door, any books to recommend regarding personal financial philosophy,
also check your pms Don't sleep on these books. Again don't let the name fool ya.

1) Personal Finance for Dummies

2) Mutual Funds for Dummies

3) Suze Orman - Nine Steps to Financial freedom. But don't buy the book just watch her show on CNBC saturday and sunday nights. Its an hour long show with people calling in with various finanial questions. This show is excellent.

imported_Gman

07-10-2003, 01:23 PM

Originally posted by mhd:
in addition to Rich Dad Poor Dad; and The Millionaire Next Door, any books to recommend regarding personal financial philosophy,
also check your pms I did buy the Millionare Next Door. I have only read a couple of chapters but it looks like its going to be good. I will go pick up Rich Dad Poor Dad.

-G

[ July 10, 2003, 02:24 PM: Message edited by: Gman ]

The Buddy Love Show

07-10-2003, 01:28 PM

damn ..thanks for the info

mhd

07-10-2003, 01:33 PM

Originally posted by Gman:
<blockquote>quote:<hr />Originally posted by mhd:
in addition to Rich Dad Poor Dad; and The Millionaire Next Door, any books to recommend regarding personal financial philosophy,
also check your pms I did buy the Millionare Next Door. I have only read a couple of chapters but it looks like its going to be good. I will go pick up Rich Dad Poor Dad.

-G [/QUOTE]you won't be disappointed, speaking of Orman, doesn't she have her own show now?

imported_Gman

07-10-2003, 01:42 PM

Originally posted by mhd:
<blockquote>quote:<hr />Originally posted by Gman:
<blockquote>quote:<hr />Originally posted by mhd:
in addition to Rich Dad Poor Dad; and The Millionaire Next Door, any books to recommend regarding personal financial philosophy,
also check your pms I did buy the Millionare Next Door. I have only read a couple of chapters but it looks like its going to be good. I will go pick up Rich Dad Poor Dad.

-G [/QUOTE]you won't be disappointed, speaking of Orman, doesn't she have her own show now? [/QUOTE]She has an show on CNBC every saturday and sunday night around 6 or 7pm. I record every show and view them when I have time. A lot of good financial info is on this show not just the basic stuff.

-G

julian_kelly

07-10-2003, 01:43 PM

Too many to name...but off the top of my head

Basic Concepts
"Cashflow Quadrant" Robert Kiyosaki
"Rich Dads Guide to Investing" Robert Kiyosaki
"Multiple Streams of Income" Robert Allen
"Think and Grow Rich" Napoleon Hill
"Think and Grow Rich: A Black Choice" Dennis Kimbro
"Conversations with Millionaires: What Millionaires Do to Get Rich, That You Never Learned About in School" Mike Litman, Jason Oman, Robert Allen
"The One Minute Millionaire: The Enlightened Way to Wealth" Mark Victor Hansen, Robert G. Allen

Real Estate
"Nothing Down for the 90's" Robert Allen
"101 Ways to buy real estate with no cash" Wade Cook
"The McGraw Hill 36 Hour Real Estate Investing Course"
"Building Wealth" Russ Whitney
Books by Peter Conti, William Bronick, Ron Legrand, Carlton Sheets

Networking/Building Relationships
"Success Runs in our Race" George Fraiser
"Dig Your Well Before youre Thirsty "Harvey Mackay
"How to Win Friends and Influence People" Dale Carnegie

Sales/Marketing
"How to master the art of selling" Tom Hopkins (anything by him)
Anything by Zig Ziglar, Jim Roan
"How I Raised Myself from Failure to Success in Selling" Frank Bettger
"Selling for Dummies" Tom Hopkins
Any books in the "Guerilla Marketing/Sales series" Levinson

Public Speaking
Great Speaking Hal Persons
"101 Secrets of Highly Effective Speakers" Krannich

General
"Art of the Comeback" Donald Trump
"What makes the great great" Dennis Kimbro
"31 Reasons People Dont Receive Their Financial Harvest" Mike Murdock
"The Richest Man in Babylon" George S. Clason
"Magic of Thinking Big" D.J. Schwartz

Will add more when I get home

julian kelly

Originally posted by mhd:
Julian, two questions, one public, one private:

in addition to Rich Dad Poor Dad; and The Millionaire Next Door, any books to recommend regarding personal financial philosophy,
also check your pms

Discogoddess

07-10-2003, 01:46 PM

This is great stuff...thank you so much for sharing it! smile.gif

Leslie

07-10-2003, 02:23 PM

Originally posted by Gman:
<blockquote>quote:<hr />Originally posted by mhd:
<blockquote>quote:<hr />Originally posted by Gman:
<blockquote>quote:<hr />Originally posted by mhd:
in addition to Rich Dad Poor Dad; and The Millionaire Next Door, any books to recommend regarding personal financial philosophy,
also check your pms I did buy the Millionare Next Door. I have only read a couple of chapters but it looks like its going to be good. I will go pick up Rich Dad Poor Dad.

-G [/QUOTE]you won't be disappointed, speaking of Orman, doesn't she have her own show now? [/QUOTE]She has an show on CNBC every saturday and sunday night around 6 or 7pm. I record every show and view them when I have time. A lot of good financial info is on this show not just the basic stuff.

-G [/QUOTE]She also has specials that appear on PBS. I went to see her speak on the Thursday before 9/11 at City College in NYC. In addition she has a system she sells on QVC that includes a will, types of insurance one needs, etc and pockets to keep everything together in one place when you need quick access to it. It's an excellent system with CD ROM's that fully explain everything in the system and how to use it. Suzy has products she hates (if you watch her show you know which ones they are ;) ) and she always gives you the straight dope.

Mack-Williams

07-10-2003, 02:31 PM

Nice tips. Hopefully if everything goes well I will be able to start my own business by next February.

julian_kelly

07-10-2003, 02:40 PM

Thats the million $ question. Some folk know the type of business they want...others have to search around til they find the right one.

There are basically four areas
1. A business you create from scratch. For example you come up with a cookie recipe, grow it out of the home, handle all facets, eventually get space, etc.

2. Partner with a company (that already has a concept) as an independent agent...receive training/support...get commission and build a business within a business.i.e., direct sales, network marketing, insurance agents, real estate agent, mortgage broker, etc.

3. Franchises that you purchase where you have training and support, i.e. mcdonalds, subway, etc.

4. Get involed in business by investing in a business financially or by being a partner. i.e., buying stock in a company, forming a partnership where you are just an investor.

Honestly I would do an analysis of your interests and read as many books/magazines/net articles as you can. Most business people get involved in several things before they find out what they really like...so dont feel bad if you skip from idea to idea. Put yourself in a position to learn about different business and the right idea will come your way.

julian kelly

Originally posted by liL Ray:
<blockquote>quote:<hr />Originally posted by julian_kelly:

You may also want to save up a few hundred or a few thousand and start a part time business. You can accumulate money faster in the short term (1 year or less) and the money you generate from your business in the short term can help you buy more assets for the long term. peace
julian kelly

any examples...other than the car wash business you mentioned some months ago...that was a great concept by the way. [/QUOTE]

[ July 10, 2003, 03:48 PM: Message edited by: julian_kelly ]

imported_Gman

07-10-2003, 02:43 PM

Originally posted by Leslie:
<blockquote>quote:<hr />Originally posted by Gman:
<blockquote>quote:<hr />Originally posted by mhd:
<blockquote>quote:<hr />Originally posted by Gman:
<blockquote>quote:<hr />Originally posted by mhd:
in addition to Rich Dad Poor Dad; and The Millionaire Next Door, any books to recommend regarding personal financial philosophy,
also check your pms I did buy the Millionare Next Door. I have only read a couple of chapters but it looks like its going to be good. I will go pick up Rich Dad Poor Dad.

-G [/QUOTE]you won't be disappointed, speaking of Orman, doesn't she have her own show now? [/QUOTE]She has an show on CNBC every saturday and sunday night around 6 or 7pm. I record every show and view them when I have time. A lot of good financial info is on this show not just the basic stuff.

-G [/QUOTE]She also has specials that appear on PBS. I went to see her speak on the Thursday before 9/11 at City College in NYC. In addition she has a system she sells on QVC that includes a will, types of insurance one needs, etc and pockets to keep everything together in one place when you need quick access to it. It's an excellent system with CD ROM's that fully explain everything in the system and how to use it. Suzy has products she hates (if you watch her show you know which ones they are ;) ) and she always gives you the straight dope. [/QUOTE]I do like the way she approaches some money issues from an emotional point of view. That the money problem is just a symptom of something else gone wrong in our relationships or lives.

-G

ruse

07-10-2003, 02:55 PM

Originally posted by mhd:
ruse, one question if you don't mind answering it here, what city are you guys in? hi Mark, we are in Wayne, NJ, an area that is heavily populated with businesses and schools...about 1 hr away from NYC.

mhd

07-10-2003, 02:59 PM

Originally posted by Mack-Williams:
Nice tips. Hopefully if everything goes well I will be able to start my own business by next February. glad you are reading, i started this thread after meeting you and Dolemite and asking myself what i could do to help a young brother with heart

mhd

07-10-2003, 03:02 PM

Originally posted by julian_kelly:
Thats the million $ question. Some folk know the type of business they want...others have to search around til they find the right one.

There are basically four areas
1. A business you create from scratch. For example you come up with a cookie recipe, grow it out of the home, handle all facets, eventually get space, etc.

2. Partner with a company (that already has a concept) as an independent agent...receive training/support...get commission and build a business within a business.i.e., direct sales, network marketing, insurance agents, real estate agent, mortgage broker, etc.

3. Franchises that you purchase where you have training and support, i.e. mcdonalds, subway, etc.

4. Get involed in business by investing in a business financially or by being a partner. i.e., buying stock in a company, forming a partnership where you are just an investor.

Honestly I would do an analysis of your interests and read as many books/magazines/net articles as you can. Most business people get involved in several things before they find out what they really like...so dont feel bad if you skip from idea to idea. Put yourself in a position to learn about different business and the right idea will come your way.

julian kelly

<blockquote>quote:<hr />Originally posted by liL Ray:
<blockquote>quote:<hr />Originally posted by julian_kelly:

You may also want to save up a few hundred or a few thousand and start a part time business. You can accumulate money faster in the short term (1 year or less) and the money you generate from your business in the short term can help you buy more assets for the long term. peace
julian kelly

any examples...other than the car wash business you mentioned some months ago...that was a great concept by the way. [/QUOTE][/QUOTE]that was like a mini-mba course right there

mhd

07-10-2003, 04:09 PM

Originally posted by ruse:
<blockquote>quote:<hr />Originally posted by mhd:
ruse, one question if you don't mind answering it here, what city are you guys in? hi Mark, we are in Wayne, NJ, an area that is heavily populated with businesses and schools...about 1 hr away from NYC. [/QUOTE]thanks, sounds like a great location, good luck. one point though, as hard as it is to start a business, and as hard as it is to make it profitable at some point when you are successful you have to consider what to do with the cash flow and the profits, expansion, diversification, something to protect the gains accrued

Dolemite73

07-10-2003, 04:21 PM

Originally posted by mhd:
<blockquote>quote:<hr />Originally posted by Mack-Williams:
Nice tips. Hopefully if everything goes well I will be able to start my own business by next February. glad you are reading, i started this thread after meeting you and Dolemite and asking myself what i could do to help a young brother with heart [/QUOTE]Thanks Mark. And trust me, I got my eyes on this thread! I got three kids to put through college.

liL Ray

07-10-2003, 09:40 PM

thanks ruse for the info...

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