Disqus - Latest Comments for Danny at Money Socket

Re: Britney Spears: Doing Nothing With a Six-Figure Monthly Income

Danny at Money Socket — Tue, 06 Nov 2007 13:45:50 -0000

I saw this article and I thought to myself, this is a great example of lifestyle inflation to the extreme. It goes to show that making money does not solve anything. Financial literacy, which leads to keeping and growing your money is what's important. I wouldn't say celebrities are overpaid as there is a reason they get paid so much and not everyone can do it. Look at some stars who go out and re-invest, start businesses and become moguls. The Olsen twins are an example of that. Granted it could just be the advisers around them who are building their wealth.

I think I heard that Lebron met with Warren Buffet and they had a meeting about growing his wealth. I guess at every level of income, there is a relative level of frugality and financial responsibility. I would even dare say that some stars who spend $1M a year are actually being frugal, compared to others who make the same amount of money.

Unfortunately Britney might end up in a situation like Michael Jackson, where the money is getting dry..

Re: Black Friday and Your Spending Habits

Danny at Money Socket — Mon, 22 Oct 2007 13:16:01 -0000

I personally had a OK experience with black friday last year, which was my first one. I got 2 20in flat panel TVs for $150 each. This worked out great because I've been meaning to get a TV for my parents and my little sister. Now they have a cool looking tv mounted on the wall. I do find it silly however that people are camping out and waiting in long lines in the freezing cold just to spend tons of money. I saw almost every single shopping cart with a flat panel tv like it was free or something lol. I'm sure 30% of those people didn't even need a TV. Black friday is made into an event that everyone looks forward to, the retailers benefit. and cyber monday? give me a break.

Re: Homeowners Out of Touch With Reality

Danny at Money Socket — Tue, 26 Jun 2007 14:16:18 -0000

This is human nature at work. If you own the home you're living in, you won't admit that property values are going down the drain. Not to mention this was a poll, and homeowners don't want to scare potential buyers more than the media already has, causing more problems for future sellers. The reality is in most places sellers are in trouble, including myself. I wrote a post about my last investment property, which I stand to lose about 50K when I sell it in a few months. Thats the reality.

Re: Equity harvesting

Danny at Money Socket — Sat, 21 Jul 2007 13:10:38 -0000

I agree, personally I don't think its worth the risk as well as anxiety just to make a higher return. The only time I would ever consider taking out cash to invest is if rates are extremely low and the principle amount is also relatively low.

Also I would be less hesitant to do this on an investment property as well. If I can take out some cash and reinvest it, while the rental income still covers the monthly expenses I'd definitely do it. But when it comes to the home of my future family, its not worth the sleepless nights.

Re: 6 ways to retire poor

Danny at Money Socket — Wed, 22 Aug 2007 23:26:23 -0000

I got a kick out of this post, especially the day trading part. Its funny that the real estate mentality for a lot of home owners here in the San Francisco bay area is just like that. Owners have gotten lucky all this time so they think its going to keep going up to infinity.

Re: second big book giveaway!

Danny at Money Socket — Tue, 28 Aug 2007 01:20:02 -0000

Hey BB,
I always wanted to read that book, since I will be living with my girlfriend when I move. You are now on my blogroll, sorry it should have been there earlier it totally slipped my mind.

Re: Contest winner

Danny at Money Socket — Fri, 31 Aug 2007 03:24:42 -0000

You mean to tell me I actually have to go and buy this book? : ) Oh well, I'll use my amazon gift certificate once I accumulate enough points on the ol rewards card. Have a good weekend BB and congrats to the winner.

Re: ah, the linklings… smells like victory edition

Danny at Money Socket — Sat, 29 Sep 2007 16:30:29 -0000

Hey BB, thanks for the link. Have a great weekend.

Re: how to become a billionaire

Danny at Money Socket — Thu, 11 Oct 2007 17:22:03 -0000

Great post, good insight and very motivating. After all, these guys put their pants on the same way we all do right? I think there are plenty of opportunity in up and coming economies and cultures. Imagine introducing just something simple, which we take for granted, to an up and coming country. The possibilities are endless.

Money Socket's last blog post..Incraese Productivity By Batching Related Tasks

Re: weekly linklings, october 24, 2007

Danny at Money Socket — Wed, 24 Oct 2007 14:23:50 -0000

Thanks for the link BB. It's great that you and your wife go out from time to time. I would definitely spend on a nice night out. I'll make all the sacrifices needed for the sake of frugality but one thing I would never do is neglect the relationship with my wife for the sake of saving. I'm sure those nights out are very nice and you get husband points :)

Re: I want it. You buy it. Any questions?

Danny at Money Socket — Thu, 25 Oct 2007 17:52:06 -0000

I like the piggy bank one, I would definitely wear that lol. I always toyed with the idea of making shirts and selling them on money socket. I wanted to do one that said "I *heart* ROI". or "Kiss me I'm frugal." How about, "I spend all my money on my 401K"... "I spend less than you" "Brip Blap Rules". Just some thoughts :)

Re: my hump

Danny at Money Socket — Fri, 26 Oct 2007 13:15:40 -0000

Definitely product placement I think. I noticed in hip hop, brands in songs were simply rappers boasting about how extravagant and glamorous their lives are. This was evident in hip hop ever since day one. Then companies caught on and realized this was a huge market. When Nelly's "air force ones" dominated the charts, Nike's air force ones were nearly sold out in stores, selling record numbers. The fact is hip hop is a huge market. It does hurt society as a whole and I think its media and culture such as this that is adding to our consumer/debt based society. Stars have nice cars so people my age has to drive brand new convertibles to school. Stars have seven jeans so every other girl on campus has them as well. I'm a fan of hip hop, or rather any music that sounds good. But I admit with hip hop nowadays, its more about loving the beat of the music rather than the actual lyrics like in other genres. Anyway, I'm need to bring my hump to my girlfriend's house and pick her up before she gets upset. Ciao!

Re: 67 ways to outlive 106 billion people

Danny at Money Socket — Tue, 06 Nov 2007 13:52:30 -0000

Whoa, great list! I'm going down the list saying "I do this, need to work on that, can't do that" haha. Awesome.

Re: the stone in the shoe

Danny at Money Socket — Thu, 15 Nov 2007 12:57:29 -0000

Awesome story. Sometimes pride gets in the way especially with passionate people. I've been known for that sometimes when a startup business doesn't go as planned. I think this story applies to a lot of people who purchased real estate during the past 2 years as an investment. A lot of people are upside down on their loans and still having to pay up every month. Maybe its time to re-evaluate and figure out what to do with that stone.

Re: how to breathe

Danny at Money Socket — Tue, 11 Dec 2007 02:02:29 -0000

So simple yet so effective! Awesome post my girlfriend just walked in on me and gave me the funniest look lol. It really works!