Phil needs to talk to this guy

[Aman A.K.A. Ahamburger]

This is a great interview and a perfect place to put a couple of articles that I have... Great thread pat! Could also be a decent thread for anyone that wants to talk about things they are doing to accumulate a million dollars.. ;D

Gen Y's Troubles: You'll Never Guess Who's Really to Blame
www.dailyfinance.com/2012/04/17/gen-ys-troubles-youll-never-guess-whos-really-to-blame/

It's not hard to muster at least a little sympathy for Gen Y's situation... until you hear this alarming tidbit: The Times found that Generation Y believes that success comes through -- get this -- luck. Yes, luck, not hard work. It's an attitude that compelled that Times columnist to label them "Generation Why Bother.".....

.......However, as the article says, many believe this of Gen Y: "They're entitled ... They don't know what they want ... They don't know how good they have it."

But all this talk is useless and loses sight of the big picture. Sure, things may be tough. But Generation Y has it made. If they would only open their eyes to see the opportunities right in front of them.

The world is your oyster – pearl included!

Finger-pointing and complaining won't improve Generation Y's lot. What's sorely lacking is the work ethic that made America a successful, thriving nation at the center of the capitalist world.

Although it seems Generation Y has lost touch with the nation's history, this doesn't mean they can't change.

The reality is that it's easier than ever to save -- and make money -- thanks to the Internet:

• You can quickly compare prices, and save money, getting the best deals on sites like Amazon.com.
  
• You can easily locate old friends and colleagues to help you find a job through social networking sites like Facebook and LinkedIn.
  
• You can easily open an online brokerage account and invest in publicly traded stocks with low commissions -- an option that used to be affordable only for the wealthy.
  
• You can easily set up an online business selling virtually anything, investing in little more than a domain name and hosting provider.
  
• You see, with a little hustle, Generation Y has a better shot than their parents, grandparents, or any ancestors ever had of making money, saving money, and investing their money. That's the secret to building wealth – not luck.
  

Stop Whining Already

Generation Y: It's time to stop feeling sorry for yourself. Financial security is within reach.

Counterpoint: Why Generation X Shouldn't Panic About Retirement
www.dailyfinance.com/2012/04/25/counterpoint-why-generation-x-shouldnt-panic-about-retirement/

Millennials may fuel a "Great Bull Market of the 21st Century,” says Turner Investments commentary
www.businesswire.com/news/home/20120614005774/en/Millennials-fuel-Great-Bull-Market-21st-Century%E2%80%9D

[Aman A.K.A. Ahamburger]

Here is another one from a while back....

Why Gen Y Can't Get a Job: No Gumption, No Get Up and Go
www.dailyfinance.com/rtn/pr/why-gen-y-can-t-get-a-job-no-gumption-no-get-up-and-go/rfid547904515/?channel=pf

[blackliver]

The journey of a million miles begins with a single step.

[Aman A.K.A. Ahamburger]

Yep, and really isn't that what it's all about?

[2kids10horses]

I don't know what Municipal bonds are yielding right now, but they used to yield about 5%. Tax free. So, a million would get you about $50,000 in tax free income.

Interestingly, I have a Residential rental portfolio of about 7 rental houses, and I have sold 3 houses and taken back mortgages. All told, the value of the houses and principal on the mortgages adds up to about a Million. I net about $82,000 a year from these. (After RE taxes, insurance, and regular maintenance/turnover.) So, I get a little better than 8% return on the value of the investment. Of course, I manage these myself, so it's not entirely without effort on my part like collecting interest and dividends would be.

[Aman A.K.A. Ahamburger]

I'm not too familiar with muni bonds, we have provincial bonds, but that market is really just getting started up. I want to pick up some Govt of CDN bonds when rates eventually go back up I will most likely places those in an RRSP account(tax differed)

Have you acquired those property recently? 8% annually is nice income if your looking at 100% return over the next 15 yrs..