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Thread: Millionaire Stripper

  1. #1
    Senior Member Polo Girl's Avatar
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    Default Millionaire Stripper

    Hey guys I was just wondering do any of you guys invest in anything? So far I have heard of girls that invest in gold, real estate and stocks...

    I used to live in California during the Dot Com days and my mom and grandmother were making $100,000. Well they moved to Georgia and now my grandmother is retired and my mom doesnt make even a quarter of that. And we live in a big house so now I have to pay $300 rent... Anyway I started a IRA when I was 18, I was devestated that they were making all that money and didnt invest it so thats why I have started investing early.

    I work at a fast food place and make $830 a month. But I pay for cell, insurance, credit card and thats it. 88' Honda is payed off. I dont have that much to pay for but w/ stripping the way I see it is if you play it right and spend conservatively or only on what you need too you could easily become a millionaire by time you are 40 or even earlier... Right now I live by the 48 hour rule. If you are spending $100 take 48 hours to think about it.

    I see Suze Orman all the time on CNN and she says stuff like just investing $4 a day can make a difference... NOW just imagine if you were a stripper....

    Well anyway do any of you guys invest in anything? And how is it going and do you plan on retiring or expanding. Like into buying Real Estate or starting a lucrative business.
    Last edited by Polo Girl; 09-05-2005 at 08:31 PM.

  2. #2
    God/dess
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    Default Re: Millionaire Stripper

    I have met a handful of dancers over the years who became wealthy stripping. I am working on several things at the moment that hopefully will replace my stripping income without having to work a traditional job.

  3. #3
    Crissychan
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    Default Re: Millionaire Stripper

    I have a 401k through my day job but can afford to max my contributions thanks to my second job.

    We're looking at buying a condo and that would be our investment.

  4. #4
    Senior Member Polo Girl's Avatar
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    Default Re: Millionaire Stripper

    Thanx guys... Keep the posts coming.

    xoxoxo

    Polo Girl

  5. #5
    God/dess Bella21's Avatar
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    Default Re: Millionaire Stripper

    Investing in gold is just a way to freeze your money. No bank fee's. But, it doesn't grow since gold is basically stable. I've had investments since before I was born, thanks to my parents. But, school's my big investment right now... and my car's ALMOST paid off! A few more months! WWWOOOOOO HOOOOOOO!!!!!
    If you think school is hard, try being stupid.

  6. #6
    God/dess Emily's Avatar
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    Default Re: Millionaire Stripper

    I'm not going to post what my investments are worth, but I'm definitely on my way to becoming a millionaire stripper!

    And gold is not stable!!!

  7. #7
    God/dess Bella21's Avatar
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    Default Re: Millionaire Stripper

    ... Really? My bad. Hehehe, I can't wait to tell a certain someone that...
    If you think school is hard, try being stupid.

  8. #8
    Senior Member Polo Girl's Avatar
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    Default Re: Millionaire Stripper

    LOL... I though having gold bricks would be cool like "The Italian Job" movie. No gold bricks for me....

    xoxoxo

    Polo Girl

  9. #9
    Banned Melonie's Avatar
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    Default Re: Millionaire Stripper

    I'm not going to post what my investments are worth
    Yup, especially not here on SW - where public postings of wealth/income involving an industry which has traditionally been 'less than 100% compliant' with income tax laws could undoubtedly attract 'official' attention.

    And gold is not stable!!!
    Agreed. I started buying 1oz gold bars when the price was under $300, and the price has now risen to the mid-$400's. IMHO gold is a long term hedge against declines in the worldwide value of the US$ (i.e. inflation), and it represents REAL and stable value in times of catastrophe (i.e. there are some regional gulf coast banks right now that are not allowing cash withdrawls), and it represents the stability of US T-Bills with none of the currency risk.

    However, gold is not a 'speculative' investment. Unless the sky falls on the US/world economy, you are not going to triple your money in a year with gold. On the other hand, you are not going to see your investment in gold fall in value by a 3:1 margin either. Gold has a role to play as a bullet-proof 'core investment' in any portfolio, but other types of investments have their own roles to play as well.

    Well anyway do any of you guys invest in anything? And how is it going and do you plan on retiring or expanding. Like into buying Real Estate or starting a lucrative business.
    I've been in and out of Chinese stocks (now definitely out). Recently I've been long on stocks of industrial commodity companies (particularly FAL copper) and oil companies (particularly an oil exploration company DO ). I've also been in and out of energy royalty companies ( particularly SJT and BPT ) based on their dividends (now definitely in).

    As to real estate, I have stated in other threads here that IMHO the real estate market has passed its 'prime' and now stands to face price corrections. Also, given the current real estate tax picture, energy costs, and early signs of a US economic slowdown, I would never consider investing in rental or investment property. However, owning the home that you intend to live in for many years is an entirely different story.

    As to 'hot topic' investments, I am seriously considering buying put options on a couple of the major property insurance / reinsurance companies, who will undoubtedly be absolutely hammered once insurance claims for Katrina damage start being paid out. I'm also considering buying some SPX put options this week in advance of the Fed Beige Book release.

    As to IRA's/401k's etc. I have stated in other threads that I question the wisdom of a person in their 20's making retirement accounts a huge priority at the expense of more 'conventional' investments. My concerns are based on the introduction of a future 'means test' for government retirement benefits, which could very well mean that every dollar a person contributes to their IRA/401k now means a dollar in lost gov't retirement benefits later. I'm also not very comfortable with the idea that massive early withdrawl penalties basically lock away IRA/401k assets until retirement, while at the same time the gov't is free to change future tax, benefit and eligibility rules. Granted that if you can participate in a 401k program with an employer 'match' to your contributions, this is too good of a deal to turn down. However if you are self employed (as I am), and if you are in your 20's (as I am not LOL), I would consider limiting my retirement investments to a ROTH IRA and not exceeding 25% of my total investment cash (putting the other 75% in more conventional investments).

    There are many in-depth discussions re investing in the Dollar Den ...
    ~
    Last edited by Melonie; 09-05-2005 at 09:03 PM.

  10. #10
    Senior Member Polo Girl's Avatar
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    Default Re: Millionaire Stripper

    I revised my post of how much I have invested....

    xoxoxo

    Polo Girl

  11. #11
    Senior Member SW Siren's Avatar
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    Default Re: Millionaire Stripper

    I am a believer in Real Estate investing

    becareful right now though with the whole housing bubble thing going on

  12. #12
    God/dess Bunny's Avatar
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    Default Re: Millionaire Stripper

    I know a guy who has made tons of money in real estate BUT he has invested very wisely and has put a lot of research into what he has bought over the years. He owns little strip malls and land in key places that are very in demand and got in early before the areas got into demand and now makes a killing with his real estate. On the other hand I watched my parents purchase rental apartments years ago and have a tough time making much off of them because there is so much upkeep and then they go unrented and you have to re-rent them. And now with the hurricane they may not even have a place to rent.

  13. #13
    Senior Member SW Siren's Avatar
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    Default Re: Millionaire Stripper

    with real estate it is location , location , location

    and good timing doesn't hurt either

  14. #14
    God/dess twisterinAZ's Avatar
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    Default Re: Millionaire Stripper

    Real estate,Real estate ,real estate!!!!!!

  15. #15
    God/dess Miss Jessica's Avatar
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    Default Re: Millionaire Stripper

    I second that! (real estate) But only if you know what you're doing. Real estate courses are a great way to educate yourself so you make wise personal investments.
    "We all must suffer from one of two pains: the pain of discipline or the pain of regret. The difference is discipline weighs ounces while regret weighs tons. In order to achieve what others don't, you have to do what others won't."


  16. #16
    madmaxine
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    Default Re: Millionaire Stripper

    I recommend the Anna Nicole Smith method...LOL

  17. #17
    Veteran Member TJAndDani's Avatar
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    Default Re: Millionaire Stripper

    ^ She got all her money taken away by a judge.

    I recommend maxxing out your IRA each year($2000), then put some into the S&P its a fairly safe it puts out decent returns each year, and if your young you can try some other stuff to invest in. There are millions of books on it. I would only say do real estate if you're going to live in the house. Mortgages are one of the few tax "shelters" left.

    To answer your question, yes its possible. But you have to becareful with your money and very disciplined.

  18. #18
    Senior Member Underestimated's Avatar
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    Default Re: Millionaire Stripper

    Me? Stocks, minerals, silver, real estate, savings accounts, etc. This is in the middle of my medical drama, so I do what I can. Spread your money around a little. Buy a couple books on investing. It's lame, yes, but I read 'Personal Finance for Dummies' and it did help. Call investment firms in your area and see what the minimum is. If you can find a CPA to help you, utilize them! Find a financial planner. Get advice from anyone and everyone in that field. It's amazing how many people are willing to give up free tips to a pretty girl without her top on. Education in any facet is important. Learn, learn, learn, then put it to use.

  19. #19
    God/dess NinaDaisy's Avatar
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    Default Re: Millionaire Stripper

    Quote Originally Posted by TJAndDani
    ^ She got all her money taken away by a judge.

    I recommend maxxing out your IRA each year($2000), then put some into the S&P its a fairly safe it puts out decent returns each year, and if your young you can try some other stuff to invest in. There are millions of books on it. I would only say do real estate if you're going to live in the house. Mortgages are one of the few tax "shelters" left.

    To answer your question, yes its possible. But you have to becareful with your money and very disciplined.
    The maximum IRA contribution for 2005 was $4000. I believe it goes up to $5000 next year. If you have a bank account (and I'm stunned at how many dancers don't) it's possible to arrange for automatic monthly or weekly withdrawals to make it less painful. I just wrote a fat check before tax day, but I'd start setting the funds aside in January to be prepared. That's mostly what I've been doing. I'm skittish about the stock market but I've been doing a lot more research. Kiplinger's is a great magazine with tons of information about good mutual funds. The minimum investment for a lot of mutual funds is about $1000 which should be easy to manage for lots of dancers.

    The stock market's been shaky in recent years, but since its inception, its average return has been a steady 12% a year. It doesn't sound like much, until you factor in the magic of compound interest. If you plan to retire off stocks, you need to be in it for the long haul and then live off the interest, not the principal.

    If a dancer doesn't go shopping too much, buy a flashy car or have a drug habit or man that leeches off of her, she should be able to build a good nest egg.

    I traveled a lot when I danced. That was my big indulgence. I saved, but it could have been more, admittedly.
    "She has written so well, and marvellously well, that I was completely ashamed of myself as a writer...But this girl, who is to my knowledge very unpleasant and we might even say a high-grade bitch, can write rings around all of us who consider ourselves as writers"

    Ernest Hemingway on writer, aviation pioneer and horse trainer Beryl Markham


  20. #20
    Veteran Member TJAndDani's Avatar
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    Default Re: Millionaire Stripper

    ^ whoah I must be reading old books then. This just goes to show a CPA is an excellent investment.

  21. #21
    God/dess NinaDaisy's Avatar
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    Default Re: Millionaire Stripper

    I have a CPA as well as a financial advisor from American Express. My FA knew I was a dancer, didn't have a problem with it.

    My CPA was very good and cost about $300 to prepare my taxes. But he saved me about 10x that in taxes. He informed me about deductions I didn't even know about!
    "She has written so well, and marvellously well, that I was completely ashamed of myself as a writer...But this girl, who is to my knowledge very unpleasant and we might even say a high-grade bitch, can write rings around all of us who consider ourselves as writers"

    Ernest Hemingway on writer, aviation pioneer and horse trainer Beryl Markham


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