How did user become rich? How does one become wealthy starting from nothing? General Financial Advice Thread, US Edition
>Get a Job All of us wageslaves will never become rich, stop kidding yourselves >Invest in the Stock Market Great, so I'll invest my meager life savings and earn max 11% return. Woo, I just made 5,500 per year. Time to retire boys! >Invest in Bitcoin So I can watch it to drop to $200? Also, how does one convert crypto currency into actual USD? Great, I have 1 mil in virtual bucks. Time to retire and buy the house I've always wanted, oh wait. >Become a Doctor 6 years post grad minimum plus $300k+ in debt upon graduation, work becomes your life, 60+ hour weeks, 12 hour shifts, nights and weekends. Not worth the time, hassle, money, stress, and intense social requirements. >Real Estate Investment Okay, I'll just buy this $300k+ single family home in the midwest to get started as a rental property ($800k+ in major cities). Oh wait, I need $60k + closing costs/HOA fees/taxes/insurance/etc IN CASH ($160k+ in major cities) to get started? Oh, and you're telling me I might only make up to $300 per month passive income on that, and I still won't be able to pay it off for 30 years? Who's going to loan me another $240k ($640k in cities) for the next one to start my real estate empire? And the next one? I'll be so far in debt after the first house they'll laugh me out of the bank. >Work for Google, Facebook, Apple, other Fortune 500 I'll get back to you when I'm alpha enough to even be considered for a $250k starting salary plus stock options position. This path is simply unreliable, and the job security is shit. >Work in IT/Programming, make the next big App App popularity is finicky and almost impossible to crack into the market unless you're one of the above big companies. Also there's millions of them out there. Competition is fierce if you're not the best. Like winning the Lotto. >Win the lottery Odds 1 in 292,201,338. I won't hold my breath.
tl;dr I'm not looking forward to the prospect of working 40+ years for the chance of retirement. How does one become rich without starting with millions?
Also, feel free to ask general career advice or financial questions.
Caleb Lopez
bump
Tyler Howard
Everyone else a poorfag too?
What's user scheming so they won't have to work again?
Leo Cook
I was considering drug dealing. Psychedelics sell for a LOT and you can literally make 600-800% profit easily if you're a good businessman. Just need a few customers to start with.
However its likely you get thrown in prison after a few years. Happens to the best of drug dealers.
Julian Jenkins
Well, what worked for me, and what I would suggest doing is be born into a rich family. Shit's like magic! I don't know why everyone doesn't do this! Buncha idiots.
Bentley Campbell
>I'm not looking forward to the prospect of working 40+ years Tough luck fucker.
Unless you find a cure for superAIDS and monetize it properly you are prone to stay poor for the rest of your life.
Also, getting rich is about monetizing things, not solely about working hard.
You might break your back those 40 years but you are not going shit anywhere if you spent those years being a fucking wageslave.
Really bad idea, the prospect of gettin jail is what say how horrible this would be. It would be time you can't earn money.
Carter Reed
My gf racks in good dosh from camming, its crazy how much money horny dudes sometimes throw out
Just accept your fatem find a halfway decent job, shove money away into your 401k, live below your means. Get married, have kids, and hope they get killed in a traffic accident where a commercial company is at fault. Collect a few million and all the widower pity-pussy you can handle
Justin Kelly
Where I live people buy condos on the beach and rent them out for 1300 a week. More during certain seasons or events. But the condo is around 200-300k
Gavin Green
How can you monetize things without a means of production?
The only way to obtain value seems to be four things: 1) Make a product to sell 2) Provide a service to sell 3) Own land/property and rent it 3) Gamble digitally and create money out of thin air (ie stock market investments)
1, 3, and 4 are out because we don't have access to an initial large capital sum to make anything, own anything, or invest in anything (hence starting out with nothing). Which leaves us with 2, being a wageslave. What am I missing?
Joshua Williams
Jewtube is essentially the lottery. You have to have an attractive personality to win, most Sup Forumstards are lacking in this key aspect. Next.
Anthony Kelly
You become a wageslave for a couple months and get tools for the things you are best at. Then you give it a shot as a side source of money.
Most people remain wageslave because it's easier.
Most bussiness creators are a stucked up asshole because they usually built their empires with blood and sweat. But, they played smart.
If a big company offers to buy you it means you are good, but not that good. Competing against big companies while being a little bussiness will be suicidal. Get a fair price and nope the fuck outta there.
Adam Gutierrez
Fair point. Business creation seems the common theme. Generally that takes a lot of capital to start up, especially in my field where "a couple of months to save up for tools" would take me my entire lifetime just to purchase the equipment, and it is highly regulated by the government.
Ryder Cox
you can certainly earn more than 11% on the market, and that shit grows quicker than you'd think, also 5500/12 and you've got 450 a month of supplemental income (not factoring in taxes), if you aren't reinvesting, that's a pretty fucking good start. Unless you're living in the city, then that's chump change
Lincoln Parker
Seems to me most of the super wealthy are old money who exploited people, markets and/or conditions to get where they got.
A combination of timing, markets that had not yet evolved (ie. got in when the gettin' was good), and a host of other conditions that are no longer in play.
We are currently in the information age, to that I say find something to do with that information. People need it, find out where you can make some moves.
Andrew Robinson
Concentrated high-risk day-trading with other people's money you dumb bitch
Anthony Phillips
Still gotta pass series 7 and 66 to deal in securities no? Hard to pass from what I understand.
Sell for BTC/ETH. Sometimes daytrade alt coins. Get in on ICOs
Gabriel Long
This
Eli Wright
Nice, especially if you don't have start up capital to rely on
Charles Cooper
I'm 31 and can retire if I want. Didn't go to college.
Literally buy real estate. Buy ASSETS (things that make you money: real estate) not liabilities (things that take money from you: cars, expenses , etc.)
Start small and read books on buying real estate. Remember, you don't need your own money. You use bank money. Learn how to get banks to loan you money which is really easy.
Start a side business. Social media marketing, flip real estate, blogging, etc.
Don't be lazy.
Henry Rivera
Congratulations user. You've realized capitalism is a scam.
James Nelson
Scamming a scam = win
Robert Mitchell
But how do you use bank money? If they see you're broke will they lend you the money? Does it work in Europe?
Carter Long
Incorporate yourself many times over. I’ve got 4 LLC’s under my name which basically covers anything that I do to make money. 95% of everything I buy is a write off. Your LLC doesn’t have to be in the black to be beneficial to you.
