herofan":24fy3qoy said:
I wasn't aware, however, that it wasn't real profit unless you spent it on your neighbor. Heck, I'd actually been spending it on my own family. I guess I'll just have to let people think I'm heartless and deplorable.
I think you misunderstood me. I do spend money on family but I'm not going to spoil them. My son once said, "Dad, we are rich aren't we!", I told him "No, WE are not rich, your momma and I are rich and you are poor as be nice and don't even have your high school diploma or any job prospects". As for myself I don't need much and try to keep my spending to the level I grew accustomed to when I was starting out. True, I could buy about anything I want and my money manager keeps telling me I should retire and enjoy life but she doesn't understand this isn't about me but my children and grandchildren.
When I started there was hardly any profit but I had a plan even though I was constantly told my plan would never work. Whenever you start any venture there is a mountain of debt you have to overcome to reach your goal and this is like climbing a sand dune where each step forward only brings you a half a step back. However, when you get to the top and begin going forward each step forward has gravity working for you. Gravity can be seen as the interest on your money or being debt free. So its only understandable when someone is in expansion mode their profit is invested back into the operation so they can grow. How much you grow and how fast you grow is important because the IRS doesn't like you to lose money every year and the intent of the tax policy is to encourage growth and expansion through deductions so at some point you both sides benefit.
Some never intend to show a profit. Some continue to expand and some simply justify all sorts of deductions based on their WANTS and not NEEDS and many of these WANTS are depreciable assets which are hardly justified if you truly intend to make a profit. I just don't spend it all on me because its not about me but my family. I view myself as merely the caretaker of my children's inheritance so they don't have to start at the bottom of the sand dune and live in a barn like I did when I started. I don't want them to HAVE to grow a garden to eat or have their highlight of their week after working three jobs to sit in the barn with a six pack of cheap beer tallying the mice they killed in their traps. BTW, 16 was my record. I hope my children will see their inheritance as a blessing and I hope they are not so selfish they don't appreciate the sacrifices it took to acquire it and I hope they don't pi$$ it away when they get it but as is often the case, one generation makes it, the next generation holds on to it and the third generation pi$$es it away.
As for helping others, I don't give money to everyone with their hands out. I don't tithe to to the church but what I do is do my homework find those who are deserving and who by no fault of their own deserves help and help them. I have little to know pity for those who complain about their plight in life because I know from experience that in most cases you make your own reality and you can choose to either be the victor or the victim. Its just whether or not you choose to put forth the effort or complain that life isn't fair because its not and never will be.