Comments for The $7 Million 7 Years Wealth System

Comment on KLE 75: These Will Make You Wealthy by Jeff97

Jeff97 — Wed, 07 Aug 2013 01:49:21 +0000

This is where I will not only need to take massive action but also be very creative.

Comment on KLE 44: That Little Pup Called Inflation by Jeff97

Jeff97 — Sat, 15 Jun 2013 02:13:15 +0000

Bring it on, I’m ready.

Comment on KLE 29: The death of the mighty 401k by Jeff97

Jeff97 — Tue, 04 Jun 2013 23:14:24 +0000

Makes sense. In fact I don’t add anything to my Roth IRA (don’t have a 401k as I’m self employed) I pay my self twice into my personal savings account.

Comment on The $550,000 A Year Lifestyle by AJC

AJC — Sun, 26 May 2013 13:09:55 +0000

Great question Jeff. The answer is, since you are ‘retired’ (at least, you will be at the time that these calculations will kick in), you should assume no rent or mortgage (since you have no real income to support either), so you should add the value of the house (i.e. fully paid off) to your Big Ticket Items (KLE14) … but, don’t forget to include house ‘running costs’ (eg cleaning, maintenance, utilities, insurance, etc.) here.

Comment on The $250,000 A Year Lifestyle by AJC

AJC — Sun, 26 May 2013 13:05:31 +0000

No. CGT in the US is 15% and in Australia either 24.5% or 49%.

Comment on The $550,000 A Year Lifestyle by Jeff97

Jeff97 — Fri, 24 May 2013 17:11:38 +0000

So do we include the housing rent or not? This is what I’m confused about.
Also, if a house is rented I wouldn’t have to absorb the maintenance costs, the owner would.

Comment on The $250,000 A Year Lifestyle by Jeff97

Jeff97 — Fri, 24 May 2013 16:41:39 +0000

Are capital gains taxed the same as revenue from your own business?

Comment on KLE 2: My $7 million dollar journey … by AJC

AJC — Thu, 23 May 2013 03:40:18 +0000

@ Jeff – I can’t recall, but I think it was around $250k, plus $500k in rehab costs (that I convinced a bank to lease over 5 years).

Comment on KLE 2: My $7 million dollar journey … by Jeff97

Jeff97 — Sat, 27 Apr 2013 15:45:02 +0000

Good story line AJC, I liked how you created the time line putting everything in chronological order. It helped me see the bigger picture.

Now I just need to start learning about investing in stocks & real estate.

AJC, how much of down payment did you put on the bldg you bought for 1.25 million in 2001?

Comment on KLE 4: Wax On, Wax Off by rehler

rehler — Mon, 25 Feb 2013 03:11:36 +0000

This is what I have been missing most my life. I have been approached by different people in different aspects in my life about my potential to be great. This post opened my mind of why I feel I have never reached my potential. I refused to wax on wax off. I always wanted to skip as many steps as possible to get to the next level, whatever that meant at the time. My natural talent would carry me most of the way and then crash. I would be missing the foundation needed to improve. So time after time, I get about 80% of the way and fizzle. Its time to stop and smell the roses and wax on, wax off!