Nicely done. 600k outside of the 401k is an impressive amount for your age. What's your overall strategy for stock selection? Looks to be High Growth strategy

 

Anyone go into fast-food franchises?

 

These days I use the drive-thru.

You?

 

Gunfighter, what does “net leased” mean?

 

Tenant pays taxes, insurance and maintenance on net leased property. Google NNN lease for a more complete explaination. In a single occupancy building the math is simple. In a multiple tenant property the expenses are split, generally based on percentage of the property occupied by each tenant.

 

His wife passed away several years ago, didn’t she? Or am I thinking about someone else?

 

Did. He remarried in 2006 to Astrid Menks

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I thought maybe he remarried and that’s what you were talking about. I saw a documentary about him and remember his wife passing away but couldn’t remember if he remarried. A guy with his change could have scored a Victoria Secret model. 😀

 

For starters—I have been incredibly lucky. First major investment was circa 2009 with SBUX when it was hovering around $10 and nobody would ever buy a $5 latte again. I put pretty much 80% of every penny I had to my name into that stock. That gave me a six figure starting point two years later.

Once I sold SBUX I decided that was a combination of luck and skill. I decided at that point to buy a little company that was mailing discs out called Netflix, which also doubles as my biggest regret. To the guy in this thread who said “I love stories like these, when the taxi driver starts talking about how much money he makes....” screw that.

NFLX Paid $16.02 a share and sold for $42. Had 1,200 shares. Still a nice profit. Today had I held that, those 1,200 shares alone would be worth $605,000. I fell victim to reading internet message boards on finance, listening to people say “bears make money, bulls make money, pigs get slaughtered.” Lesson learned.

Since then I have had some luck with some biotechs. Other than that I look for emerging markets/sectors/companies. WKHS, RMG, PLUG, BLINK, FCEL being just that in the EV sector. These are going to be huge going forward. I also own RIDE which I bought in the SPAC phase when it was DPHC (actually a reverse merger concept with WKHS).

Opportunities are there if you read, know what you own and go from there. I’ve made some mistakes (NFLX, FB—again sold way too soon, etc.) but that is tuition. Outside of that I have had some pretty good success and once the ball gets rolling, it becomes easier and easier. So for someone with $10,000–once you hit $25,000 that’s a big deal. Then $100k happens and from there as long as you’re disciplined and willing to stick to a plan good things happen.

Have my parents to thank honestly for seed money. They had set money aside for college for me and ended up giving me a portion of it once I got a scholarship. Best of luck Deltoids, just like our day jobs there are a million ways to do it—just be smart about it.

 

I've run into a tremendous number of "lucky" millionaires. Most of them were prepared for opportunity and knew what it was when they saw it. I've caught some great opportunities, but also missed some great ones because I didn't see them. There are numerous people, who were presented with the same opportunity (SBUX, AMZN, NFLX, 2007-2012 real estate), with access to similar financial resources, but didn't know what they were looking at.

I actually lost a friendship after handing over one such opportunity. I didn't have the financial resources and bandwidth to take on two storage facilities simultaneously, so I took the largest one I could while handing over the second. The friend passed on the deal over a 5-10% price difference, then became increasingly bitter as it became apparent he had walked away from a 7 figure payday.

Luck is often found at the intersection of Opportunity and Preparation. If you stay on Preparation Road long enough, you will reach the Opportunity intersection. It's only a matter of time.