My financial goal, an assesment and some questions..

Sorry , yip I've got lots of questions again but am trying to limit them and am digging up as many answers as I can find for myself.

So I read a section of a Hawes and Baker book, where they mention aiming for $1mil in 10 years is an ideal goal. Well I gave it some thought and decided to I'l like to to give this a shot, but I'd be looking to extend the 10yrs out, maybe to 15...I've just started studying and feel it may consume some of the $$ I'd need to try and reach $1mil in years.

My current situation.....age is in the late 30's .I have credit card debt on approx 5 cards. I am a renter and have no savings, no assets, and aim to have my debt (other than my student loan) paid off by the end of next year. To do this I was thinking of stopping my kiwisaver contributions for the next 12 months and using the usual contribution to go toward my debt (credit card interest is higher than kiwisaver gains for sure)..any thoughts,opinions on this strategy ? any gaping holes in the idea ?

and finally....

I know I should be nailing my debt but someone has offered me a very small amount ($1k) in lieu of some work if I want to get into the sharemarket. I know it's only a speck and not much to invest but a part of me is really tempted to get in....but again I know the debt thing still lingers

Back to the $1mil in 10-15yrs , realistic ?

I'm biting my tongue!~~.. So great that you have a goal. First step is formulate a plan (make it acheivable) and then implement this by working your way through the various steps. Most goal setting works better if you set short, mid and long term goals. So for example your short term goal might be to cut up your credit cards:eek2:, mid term pay off all your debt (which will be costing you more in interest than you will probably gain in the share market.) These goals are acheivable and once you have achieved success in reaching goals its easier to plan through the following and more difficult task of making your million. I suppose its possible to make a million in 10 years but unfortunately you need money to make money and even if you were making 150,000 a year after tax it would be difficult to even save a million in 10 years. I suppose if you got incredibly lucky (like lotto lucky) you could turn your 1000 into a series of multi baggers and do it but I fear the odds are so tiny that it would be like going to the casino and expecting to come out ahead time after time after time etc. Think Big but bite off small achievable chunks and you might get there.

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Originally Posted by toast2success

Sorry , yip I've got lots of questions again but am trying to limit them and am digging up as many answers as I can find for myself.

So I read a section of a Hawes and Baker book, where they mention aiming for $1mil in 10 years is an ideal goal. Well I gave it some thought and decided to I'l like to to give this a shot, but I'd be looking to extend the 10yrs out, maybe to 15...I've just started studying and feel it may consume some of the $$ I'd need to try and reach $1mil in years.

My current situation.....age is in the late 30's .I have credit card debt on approx 5 cards. I am a renter and have no savings, no assets, and aim to have my debt (other than my student loan) paid off by the end of next year. To do this I was thinking of stopping my kiwisaver contributions for the next 12 months and using the usual contribution to go toward my debt (credit card interest is higher than kiwisaver gains for sure)..any thoughts,opinions on this strategy ? any gaping holes in the idea ?

and finally....

I know I should be nailing my debt but someone has offered me a very small amount ($1k) in lieu of some work if I want to get into the sharemarket. I know it's only a speck and not much to invest but a part of me is really tempted to get in....but again I know the debt thing still lingers

Back to the $1mil in 10-15yrs , realistic ?

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Agree with the above,

Cut up Credit cards
Pay off Credit card debt (stopping kiwisaver sounds sensible but think about paying a one of lump sum of ~$1k next June to get the govt contribution.)
Save some cash. $1k is not enough to invest in the sharemarket. It costs $30 to get in and $30 to get out so you are down 6% before you start! In another recent post by a newbie, I recommend 4 shares with a minimum $5k investment in each, ideally $10k. Resaon - to diversify and to minimise transaction costs. Find that post as there are some useful comments from others re starting out investing.
Re saving - ask yourself why you have no savings at the moment. You need to address this problem, whether it be income or expenses, before you even think of making $1m. Its all relative- If you live like Kim DotCom, how much money do you think you would need to earn a year to save $1m in 10 years - My guess you would need to earn at least $1m. So your out your income and your expenses, see how you can increase income and/or decrease expenses.

Toast.
Blunt answer NO! When was your book published. Have things changed since then ?
As has been suggested probably round $20,000 is minimum investment amount for
individual companies. Less if you invest in LIC's.

I think you would be best to spend the $1000 at your local gym.
As you can't live within your means ,you will never be able to retire,so you will have to make sure you are fit,so you can keep working until death.

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Originally Posted by toast2success

Sorry , yip I've got lots of questions again but am trying to limit them and am digging up as many answers as I can find for myself.

So I read a section of a Hawes and Baker book, where they mention aiming for $1mil in 10 years is an ideal goal. Well I gave it some thought and decided to I'l like to to give this a shot, but I'd be looking to extend the 10yrs out, maybe to 15...I've just started studying and feel it may consume some of the $$ I'd need to try and reach $1mil in years.

My current situation.....age is in the late 30's .I have credit card debt on approx 5 cards. I am a renter and have no savings, no assets, and aim to have my debt (other than my student loan) paid off by the end of next year. To do this I was thinking of stopping my kiwisaver contributions for the next 12 months and using the usual contribution to go toward my debt (credit card interest is higher than kiwisaver gains for sure)..any thoughts,opinions on this strategy ? any gaping holes in the idea ?

and finally....

I know I should be nailing my debt but someone has offered me a very small amount ($1k) in lieu of some work if I want to get into the sharemarket. I know it's only a speck and not much to invest but a part of me is really tempted to get in....but again I know the debt thing still lingers

Back to the $1mil in 10-15yrs , realistic ?

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no not realistic at all mate..

like many have said pay the credit debts off then if you really want to get to 1mill from 1k within 10yrs your going have to take some risks i.e CFD's leverage or if you really lucky i.e couple 10 bagger+ etc you would have a chance i.e 1k turns to 10k turns to 100k
but your'd be doing really good to get many 10 baggers without a few losses as you will be investing in the micro-jnr high risk/return sectors

I've been at it for near 10yrs and only had one 10 bagger ( sold out of a few doz too early) and I mostly invest in the micro-jnr sectors good years 100% p.a return in the good years ..... bad years 20-30% down......If I could get 1000% average over 10yrs I'd be stoked.

Simple... all you need is to find one trade you can double your money in each year and you can turn that $1k into a $1m in 10 years.... :D

(Disclosure: This is not advice. It never worked for me either.)

$1 million in 10 years is challenging. You need to understand the underlying math and logic.

If you are a world class investor perhaps you could earn 30% per annum after tax from a relatively small pool of capital (Consider you are Buffet or Lynch and concede you would struggle to earn these returns from a large pool of capital).

If you are able to save $22,000 per annum and inflate your savings by 3% per annum and only start earning your 30% after the money has been saved for a year (see image) then you'd hit your goal.

Attachment 4052

Consider that very few kiwis can save $22,000 per annum and fewer still would earn 30% returns after tax on a sustainable or long term average basis.

To achieve these sorts of returns you will need to take intelligent calculated risks (or lucky picks), incur infrequent losses and if in property you will need to maintain high levels of leverage and superior operating skills. A bull market wouldn't hurt either.

Because we are all saying it is too hard stick to it and prove us wrong! Goals likes this work a treat when combined with superior planning and execution and lots of hard work ...after all, if you only get to $600k, will you feel cheated?

P.S. I've both saved more than $22k per annum and earned more than 30% per annum in the last 10 years. ...partly because I was aiming for 50% to 100% returns and failed!

was just doing my rough number on my last 6 yrs of serious share trading my average to March 30th 2012 was 23% p.a pretty good really(even when I take of my running costs 5% p.a loaned funds,accounts) ....should have taken a holiday and sold up as of present because of some massive hit's i.e VIL-SSN I'm down round 40% so far this fin year
confident I can turn this round before March 2013....

overall anyone that can average 100% p.a is a complete bloody legend IMHO esp if where talking 100k+ invested
has been my goal going need some 10 baggers to get me back on track

If I bring all my investment from the last 10yrs i.e include property I'm sure it will be well over 30%p.a but unlikely to be more than 40%p.a average..

Wow awesome, thanks for all the responses so far, this has been an enlightening read.

I sliced the credit cards some time ago so they have gone, just not the debt. I'm definitely living more within my means these days and will be glad to see the debt go...

So I have gone back to the book I was reading last night and thought I'd post the info from it here .

Get rich stay rich by Martin Hawes and Joan Baker

pg 42
"...throughout the book as benchmarks to remind you of what you are aiming at:

$1 million (the amount you will need)
15 per cent (the performance you will need); and
10 years (the time you will take)

It goes on to say your net worth has to be at least $1 million in order to be finically free. It makes mention this is possible provided you don't have too much wealth tied up in your home and live a modest lifestyle.

So I guess wealth creating assists are strong on this equation ??

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Originally Posted by toast2success

Back to the $1mil in 10-15yrs , realistic ?

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Definitely is. I am 35 and achieved that goal (from a zero base) 2 years ago.

I now have a mortgage free house and a substantial investment portfolio and no debt.

Made the most money from micro-cap investing (sub $10m m/c) and building positions when no one else was interested in them. I am happy to take big risks and average down where possible, because (and this will sound arrogant) I back myself as having done more research and have better skills and market knowledge than the average investor.

Have had countless multi-baggers and a few 20/30/40 baggers, which obviously have a massive impact on your portfolio...there have been many disasters as well, but you put that behind you and get on with the next opportunity.

The key for me now is position sizing - I start small with high risk option/micro-cap investments and then as the company de-risks the market value of my investment will increase or I will convert options and then end up with a meaningful size holding in a lower risk company.

You also need to have a handle on the broader dynamics of the market. For example at the moment you don't want to be stuck with a whole lot of resources investments (with junior explorers at a 3 year low). So over the last couple of years I have been leveraging wins from resources plays into investments in other sectors.

There are always opportunities, you just got to be across all the various sectors and industries, try and follow as many companies as you can, do your research, then pounce when the opportunity presents itself.

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Originally Posted by toast2success

So I have gone back to the book I was reading last night and thought I'd post the info from it here .

Get rich stay rich by Martin Hawes and Joan Baker

pg 42
"...throughout the book as benchmarks to remind you of what you are aiming at:

$1 million (the amount you will need)
15 per cent (the performance you will need); and
10 years (the time you will take)

It goes on to say your net worth has to be at least $1 million in order to be finically free. It makes mention this is possible provided you don't have too much wealth tied up in your home and live a modest lifestyle.

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It might be just taking this out of context, but to get to $1m in 10 years with 15%pa (after tax) is either going to take $50k per year in savings or starting with a $250k inheritance.

And then you can start saving for the house.

Maybe have a play with the calculators at sorted.org.nz and see what works for you.

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Originally Posted by steve fleming

Definitely is. I am 35 and achieved that goal (from a zero base) 2 years ago.

I now have a mortgage free house and a substantial investment portfolio and no debt.

Made the most money from micro-cap investing (sub $10m m/c) and building positions when no one else was interested in them. I am happy to take big risks and average down where possible, because (and this will sound arrogant) I back myself as having done more research and have better skills and market knowledge than the average investor.

Have had countless multi-baggers and a few 20/30/40 baggers, which obviously have a massive impact on your portfolio...there have been many disasters as well, but you put that behind you and get on with the next opportunity.

The key for me now is position sizing - I start small with high risk option/micro-cap investments and then as the company de-risks the market value of my investment will increase or I will convert options and then end up with a meaningful size holding in a lower risk company.

You also need to have a handle on the broader dynamics of the market. For example at the moment you don't want to be stuck with a whole lot of resources investments (with junior explorers at a 3 year low). So over the last couple of years I have been leveraging wins from resources plays into investments in other sectors.

There are always opportunities, you just got to be across all the various sectors and industries, try and follow as many companies as you can, do your research, then pounce when the opportunity presents itself.

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PS - you should also read Peter Proska's story in Matthew Kidman's "Bulls, Bears and a Croupier:The Insider's Guide to Profiting from the Australian Stockmarket" as inspiration.

I'm with you Liz, the math of 15% and $1m assumes an improbable rate of saving for the average kiwi or a heck of a lot of leverage (and therefore probably no corrections either). My calculator kind of gets me there at a saving rate of $15,000 per annum and 80% leverage but it's a bit rich to expect property or leverage to produce sustainable returns likes that.

Firstly, I believe it is very possible to create a million dollar net worth in 10 years. Frankly, I did my first in a lot less than that.

However, you haven't provided the two crucial bits of data

(a) What is your annual income?

(b) Do you have a wife and/or kids?

The truth is, you're not gonna get there by putting $1000 a time on a whole lot of penny dreadfuls.

The best things you can do involve saving (the vast bulk of your annual income, and, as your income goes up, never increase your expenses), genuine frugality, really long hours and other tough choices - investment returns are just a hopefully big cherry on the top.

I'm happy to write up a long post if you're actually interested, but most of my advice will involve things like "find a friend and live in their garage until you have your first million", "how to stay awake for a 30 hour shift" and "100 little ways to save money and annoy all your now ex-friends".

The truth is, most people will roll their eyes and if you have a wife and kids, they won't let you do any of it anyway.

I'm not saying you've left it too late, but you're definitely at an age where you should have done the hard part when you were young, had limitless energy, and the alternative to getting rich was drinking beer and talking rubbish.

Great to see more awesome advice and thoughts coming through. Much appreciated.


I realise $1k is nothing in terms of launching myself into the market so will direct it to my debt.

Steve Fleming, thanks for the reading tip, I'll try and find that book.
Stranger Danger, your pretty much bang on re me taking the alternative path (beers and talking rubbish).

So I guess my next step after paying the debt should be either looking at saving enough to enter the market (maybe a $5k parcel) or perhaps a emergency fund ? How many people operate with an emergency fund ? A lot of my reading inficates to have anywhere from 3 months to 1 year of expenses saved?

I'd love for this thread to keep rolling , so keep on feeding it with info. It's helping me a lot so I like to think it may help/inspire another person that checks it out.

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Originally Posted by steve fleming

Definitely is. I am 35 and achieved that goal (from a zero base) 2 years ago.
You also need to have a handle on the broader dynamics of the market. For example at the moment you don't want to be stuck with a whole lot of resources investments (with junior explorers at a 3 year low). So over the last couple of years I have been leveraging wins from resources plays into investments in other sectors.

There are always opportunities, you just got to be across all the various sectors and industries, try and follow as many companies as you can, do your research, then pounce when the opportunity presents itself.

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That is inspirational Steve. How much time did/do you spend a week reading and researching. Just to get an idea of the kind of committment required. I may not have the intelligence or the balls to succeed even if I did make the effort but still interested to know. Also do you have a fulltime job as well?

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Originally Posted by Aaron

That is inspirational Steve. How much time did/do you spend a week reading and researching. Just to get an idea of the kind of committment required. I may not have the intelligence or the balls to succeed even if I did make the effort but still interested to know. Also do you have a fulltime job as well?

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Yeah great question...I'd be keen to hear these answers as well....

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Originally Posted by toast2success

Yeah great question...I'd be keen to hear these answers as well....

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Since we are being checky, how much capital did you put in to start and how much capital have you introduced over time (or has it all been from portfolio growth).

Oh and another question for all...I have to pay tax this year and have the money sitting aside...I was thinking I'd be better off with it in a term deposit until the time to pay it rolls around...is this quite a common practice ?

Toast2success A kiwibank notice saver account might be a better bet unless your tax bill is well over 10grand

Toast: in your bid for more capital backing and savings, you might like to consider the idea of running your own business. This also has a long timeline of 10 years or so before best results, but you never know, you might be able to employ others to do the work you're doing now, and you will have the added thrill of paying a lot more tax (hopefully) every three months or so.

However, instead of observing a business from the outside (seeing only what they want you to see usually), you will be a big part of one, something NZ needs a lot more of. It's very possible that if you get past the first 5 years you'll be doing better than most sharetraders, although I admit it would be nice to be able to profit in both enterprises..

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Originally Posted by Aaron

That is inspirational Steve. How much time did/do you spend a week reading and researching. Just to get an idea of the kind of committment required. I may not have the intelligence or the balls to succeed even if I did make the effort but still interested to know. Also do you have a fulltime job as well?

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Hi Aaron, I would usually spend two to three hours a night reading ASX announcements and doing other research and corresponding with company management.

I’m very lucky that I have a day job that also keeps me very close to the market and I am often dealing with ASX companies during the day. I also have access during the day to good research tools like CapitalIQ, Bloomberg, Thomson Reuters which allows me to access broker reports / forecasts and most importantly broker trading activity which I find invaluable.

This I guess gives me a relative advantage over many in the market, but the market is ruthless and you have to maximise any advantage you can.

In hindsight I made the right decision to buy large amounts of options during the middle of the GFC ( see this thread http://www.sharetrader.co.nz/showthr...t=options+long )

I doubt I will ever see the combinations of those factors occur again for many many years, but it certainly was a life changing (from a wealth perspective) time for me. But I backed myself, took calculated and well researched risks and it paid off.

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Originally Posted by CJ

Since we are being checky, how much capital did you put in to start and how much capital have you introduced over time (or has it all been from portfolio growth).

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I built up a portfolio of NZ stocks of about 20k when I was a uni student paid for by my student loan. Then I moved to Aus and saw moreopportunities so sold my NZ portfolio and invested in Oz stocks. For the first few years I re-invested net salary savings into my portfolio. However over the last few years, as my portfolio has got larger, my wife (who is risk averse) has made me put my netsalary savings into non-sharemarket more conservative investments so for the last 5 or so years there have been no extra contributions – just dividends and realised/unrealised capital gains/losses

Thanks for that Steve. 2 to 3 hours a night reading, impressive. I guess thats what you need to do to succeed.

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Originally Posted by Aaron

Thanks for that Steve. 2 to 3 hours a night reading, impressive. I guess thats what you need to do to succeed.

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just don't watch any TV!

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Originally Posted by Corporate

just don't watch any TV!

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I can multi-task, just do it in front of TV on the ipad once the kids are asleep, while at the same time pretending to listen to my wife!

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Originally Posted by steve fleming

I can multi-task, just do it in front of TV on the ipad once the kids are asleep, while at the same time pretending to listen to my wife!

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Ah ha i've been thinking of getting an ipad and wondered what the were like for research?

So true though. My partner goes to sleep at 10ish and I've got the rest of the night to research.

Thanks for sharing your insights Steve.

New plan, going to speak to Kiwisaver provider and see if I can qualify under 'financial hardship' to withdraw enough to pay off my hideous debts. Hopefully they'll view the situation favourbly given I don't want to take the lot out....

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Originally Posted by toast2success

New plan, going to speak to Kiwisaver provider and see if I can qualify under 'financial hardship' to withdraw enough to pay off my hideous debts. Hopefully they'll view the situation favourbly given I don't want to take the lot out....

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Or you could have 2-3+ hours a night for more enjoying relaxing activities and live a real life i.e. talk to your wife, watch crap tv, eat takeaways, drink beers, throw money at your kids and/or holidays. As well as weight on your shoulders from holding risky investments. There is another post going around here from some other youngster who seems a year or two down the track you are heading on, and now feels constantly stressed, can’t sleep and seems overall not happy.

You might only come out with $250k in 10 years’ time, however I think you would have lived a much more enjoyable life and feel relatively more wealthy than a lot of others.

Do you see any posts on this board from people who attempted this and lost a lot if not it all? On average most attempting these kinds of returns would end up down that route.

Invest in yourself, and your career. It’s a much safer and worthwhile investment which provides the capital to underpin any other investment.

You need to keep in mind the real meaning of wealth, I know some $15 an hr slave type workers who are more wealthy than multi-millionaires. Extra money means nothing to them as what they want in life is very little, whilst the millionaires can’t stop wanting more.

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Originally Posted by buns

Or you could have 2-3+ hours a night for more enjoying relaxing activities and live a real life i.e. talk to your wife, watch crap tv, eat takeaways, drink beers, throw money at your kids and/or holidays

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I've tried some of these things and don't care much for them ...crap t.v , takeaways (I'm a sucker for a Tulsi pie though:)) drinking beers...

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Originally Posted by buns

Do you see any posts on this board from people who attempted this and lost a lot if not it all? On average most attempting these kinds of returns would end up down that route.

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Thanks, I hadn't actually thought to seek these kind of posts out, I'll get on to that.

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Originally Posted by buns

Invest in yourself, and your career. It’s a much safer and worthwhile investment which provides the capital to underpin any other investment.

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Cool, I'm onto this one, I'm currently studying part-time as I work full time, though within the next 1.5yrs I intend on studying full time

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Originally Posted by buns

You need to keep in mind the real meaning of wealth, I know some $15 an hr slave type workers who are more wealthy than multi-millionaires. Extra money means nothing to them as what they want in life is very little, whilst the millionaires can’t stop wanting more.

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this is a great and valid point, and one I have given considerable thought. I realise how we view wealth is an individual thing. Money itself isn't such an interesting thing, after all its just coloured paper or just little round metal type objects....but to me the life it'd allow me to live is of more interest.....and I'll admit I'm not much of a 'wants' person but I do have a burning desire for one 'toy':t_up:

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Originally Posted by steve fleming

Hi Aaron, I would usually spend two to three hours a night reading ASX announcements and doing other research and corresponding with company management.

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On this topic , how much time on average would you guys invest in analyzing a stock before yaying or naying it ?

KW - well down. How much savings have you put in and how much is from investment returns.

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Originally Posted by KW

I do bugger all research - I know what I'm looking for and simple stock screening tools provide it. Comsec provides the financial analysis for me. I take the value approach (a la Ben Graham, Intelligent Investing) and always reinvest my dividends and all excess cash I have on hand. I live simply and dont spend a lot - except on things I really enjoy like top restaurants and overseas holidays.

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KW if you don't mind my asking, What are you looking for when you are selecting companies to invest in? I am guessing you are looking for companies selling at a discount to their book value providing a decent dividend.

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Originally Posted by Corporate

Ah ha i've been thinking of getting an ipad and wondered what the were like for research?

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They are just like any other low powered, slow computer, but without the redeeming feature of a decent keyboard.

An interesting series of posts...one thing I noticed was that the success stories seem to slide over the fact that in order to make the successfull outcomes possible....there was a singular ability to do the following:
(a) make debt go away first
(b) reliance on an "above average" income stream to finance the investing and also cover living expenses
(c) ability to keep up the flow of funds to pay for more share positions
therefore I would hazard a guess that the single most important factor in building your million plus portfolio is ....pause for dramatic effect.....a well paying job...Jees who would have thought. Maybe these "young" punters should be pumping their extra funds into improving their education/skills/training FIRST before ploughing every last cent into trying for the "fastest" way. I would hazard a guess that One in a thousand gets rich fast but many more get rich slow by getting a good job, saving, cutting expenses and not taking any big risks. Certainly not as "sexy" as the breathless excitement of hearing about someones countless "multi baggers" but may be eminently more achievable for us mortal plonkers.

Thanks KW sounds easier than Steve Fleming's approach and probably less scary although obviously the pay off is much bigger when it goes well for Steve.

Ok, just out of curiosity what do you consider a "a well paid job"? In your post earlier you say ..
"My first 5 year plan was $250k in assets - from a negative position (having had bank, credit card and student loan debt). Took one year to pay off all the debt, then another 4 years to hit the $250k in shares derived from putting all money saved straight into the share market.." So by my understanding you went from $0 to 250,000 in 4 years...by putting all money saved....I'm curious how can you consider that as being funded by a normal pay? Lets be generous and assume 20% gain compounding every year with annual 40,000 funding..this comes out to approx 250,000. So being able to put 40,000 in per year after expenses and living makes your income "above average" (80,000?) to me and most people I would imagine. I'm happy for you but am I missing something? If thats right then its a usefull benchmark for others to say well if I can do this and also achieve a compounding 20% then I can do it too. Big ask in my humble opinion but I'm JOe NO-Risk :)

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Originally Posted by KW

Agreed. But not necessarily an above normal well paying job. I took the Rich Dad Poor Dad advice to heart - which is first cut debt completely, be considered about what you spend money on (needs not wants), pay yourself first (ie. put as much away in savings first up then live off the budgeted amount you have left), decide what kind of investor you want to be (business, stock market, property etc), educate yourself in that area, then invest. The power of a constant supply of money into an investment plus compounding takes care of the rest.

The first bit is the most important -as once you focus on cutting your debt and paying it off as fast as possible, once its paid off those regular payments then goes straight into your savings, and you don't even miss it.

$30,000 in cash injections over 7 years does not require a well paid job, just self discipline. To turn it into $123,000 - that requires education.

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Originally Posted by KW

No, in that respect its more the Buffett twist on Graham - which is not looking for fair companies at cheap prices, but great companies at fair prices. I stock screen on the following - must pay a dividend, have a low-average P/E ratio (under 15), and must have ROE and ROC greater than 10%. Then I look for 3 years of increasing earnings and dividends. Bonus points if there is little or no debt, strong cashflows, and healthy margins. All this information can be obtained from Comsec. Then I cross to a technical analysis - the stock must not be in a downtrend. Three companies that I recently bought that met this criteria are SIV, CDD and FXL. Shares I own that meet this criteria is AMM, MTU, LGD, IIN.

Its really so simple any idiot could do it. Its when you try to be smarter than the average bear by straying from the rules that you end up losing a lot of money - you have to remind yourself that slow and steady wins the race, and there really are not 10 baggers around every corner :-)

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Enjoy your posts KW, and thanks for sharing.

Criteria is very similar to Jim Slater/Zulu Principle.

at a quick guess I'd say the average hourly rate is $20 give or take..?? making a 40 hr week $800 gross?? Again, only a guess.