Anybody found a good way to become wealthy working for yourself?

[Ohso-Phresh]

Super open ended question.

If you've got good self control you can try day trading, it's basically owning your own business. I've worked with guys that made half a million a day, and they came in the next day like nothing happened and did it again. It's great if you can master it. It'll challenge you psychologically so make sure you're in a good place mentally and financially before trying.

With trading one can achieve an extremely high velocity of money-making. The key is to explore the road less traveled and apply critical thinking through deduction.

The road most traveled is what would be defined as Conventional Wisdom. CW in the financial industry is designed for wealth transfer from the less-informed to the more-informed.

The market is controlled by the minority which can be proven by the majority of standing limits on the book going unfilled at market turning points. Whatever is happening now, smart money has already positioned itself and currently extracting profits.

In the light of this, one does have to start somewhere. A couple of beginner texts would include:
The little book of ______. A series of easily digestible strategies by Tuttle Press.
How to make Money in Stocks by the founder of IBD, WJON
How I made $1mil in the Stocks by Darvis

The promoted ROI of the S&P 500 benchmark is ~10-12% yoy. An advanced expert trader makes multiples of this intraday, day in day out.

The only way to achieve this is through direct observation, deductive critical thinking, applying Boolean math and doing drills to change perception.

Only a few have built their minds enough to have the capacity to actually ‘see’ the market.

 

[WitnessGR]

I don't recommend going the entrepreneurship route right away, at least full time. You need CASH, some sort of skill in something and probably a solid credit history and some experience, somewhere.

Having your own business sucks if you don't have cash or debt available to scale up quickly. The only type of business' that would really be worth it here are service based business' or ones that generate a lot of capital with almost no money: Youtube (rare), instathot, onlyfans, dropshipping, selling courses, etc.

What I recommend is learning a skill, one thats in demand and have people pay you money for that skill, then once you've accumulated resources then branch out and start your own business.

Protip: I would even recommend trading money for experience (ie. volunteering, internship, mentorship) early on, as there are lots of benefits going this route if you're motivated.

 

[jnMissouri]

Real estate. I own properties. But I'm also a part time realtor. The realtor thing has done nothing for me, you really have to be an attractive female for that. All the people I know who do well at it are HOT young girls or people with huge connections developed over time.

That said, if you're living at home at 25 and working part time at a gym, I don't think you have much drive to succeed at any of this stuff. Being a landlord is hard work even if part time. It's not as simple as working part time at a gym. I built my empire of rentals standing on my own two feet since 18...with every disadvantage you can imagine. I put myself through undergrad and grad school at the same time as paying my own rent. That's the kind of person that makes it. My friends who were all born here into rich white families were all ahead of me in life at that time. Now at 40 they are still subsidized by mommy and daddy and wonder why they never got anywhere. People living at home at 25 and working part time at a gym do not scream "billionaire in the making". They scream underachiever...

 

[jnMissouri]

I did go to college, graduated from University of Delaware with a degree in Behavioral Health & Nutrition, which I believe was a B.S., I did take a class of Python for programming and absolutely HATED it. I admit I have a better understanding NOW, but still. The idea I had with my major was going to be making money through personal trainer. Hated that, people flake, have really ridiculous hours to meet them, and generally see health and fitness as a luxury rather than a necessity.

What I'd really like to do is something where I can get paid to be in shape and be outgoing. That's why I wanted to model, and hopefully have that lead to acting in some capacity. I'm a pretty good dancer and have been in Halloween shows at this Atlantic City hotel to serve as eye candy. Like being a stripper would not be out of the question for me if it means making decent money.

I just really want to be able to live life. I want to go to Los Angeles or something and just be able to enjoy being around all these beautiful women I see all over Instagram instead of having to find those 1 or 2 cute girls hidden in the sea of dudes and cows at the bar.

Statistically you have very little chance of becoming a model or an actor. I have been to LA many times and used to go to the green room at the Jimmy Kimmel show all the time. Lot's of HOT aspiring models and actresses. They all gave up after a few years and moved back home. I chose the tried and true path myself. College, tech career, investments. Now at 37/38 life is made and I no longer have to work (but I still do because I'm trying to build more investments with W2 income).

I met a guy in Vegas last time I went (this time last year) who had moved there to try to get into performing, etc. I asked him how long he had been there....21 years he said. Waiting tables in his late 40's....some people are just dumb and bad at math, don't realize the statistical odds against them. Yeah you MIGHT make it big. But most likely you will end up old living in an apartment check to check at a crappy job wondering what you were thinking. I had a business idea when I was in my early 20's that I now see as an investor would have been glorious. But it wouldn't have done anything for me that what I'm doing now didn't. I chose the safe route at the time based on the numbers and am glad I did.

 

[RickTheToad]

Real Estate is good as long as you have some money to burn. In Bridgeport, there are a lot of money in multi-families. However, in the go areas, for a two or three unit, you're talking 500k +. Unless you'd house hack, you have to have 20% to avoid PMI. Of course, if your a female or a vet, you can put 5% down with no PMI. Fannie Mae also have a first time buyers program at 3% down, but you'd be subject to PMI. So, you still need some seed money. I just saved up and bought a house or two every few of years or so and run it as a side business. The rehabs are more fun though. The management is boring. You need a day job to keep life somewhat interesting.

 

[biggoal]

Real estate. I own properties. But I'm also a part time realtor. The realtor thing has done nothing for me, you really have to be an attractive female for that. All the people I know who do well at it are HOT young girls or people with huge connections developed over time.

That said, if you're living at home at 25 and working part time at a gym, I don't think you have much drive to succeed at any of this stuff. Being a landlord is hard work even if part time. It's not as simple as working part time at a gym. I built my empire of rentals standing on my own two feet since 18...with every disadvantage you can imagine. I put myself through undergrad and grad school at the same time as paying my own rent. That's the kind of person that makes it. My friends who were all born here into rich white families were all ahead of me in life at that time. Now at 40 they are still subsidized by mommy and daddy and wonder why they never got anywhere. People living at home at 25 and working part time at a gym do not scream "billionaire in the making". They scream underachiever...

Or even if you're a woman in your 50s if you're the bubbly type, OR are a guy who can talk his head off. My realtor in St. Louis who sold our house was late 50s, chubby, BUT was a extrovert and pushed houses fast and hustled. Very extrovert and full of energy. If he were in physical shape and even had a semi chad body with that energy level and personality he'd clean up.

If you're an introvert then real estate not for you.

I think men go into more commercial real estate, larger ticket items. In my area the competition for real estate is so intense due to so many realtors. My realtor down here was a lady in her mid 50s, southerner from KY. Very extrovert and friendly. She said in my county it's a waste of time getting into but she's good at it. Then at my part time job we have a lady with the same identical personality, about the same age, and looks wise very similar and she's only sold one house.

What part of Missouri are you in btw? I'm from St. Louis originally and miss it. Maybe you know my realtor I used lol.

 

[jnMissouri]

Or even if you're a woman in your 50s if you're the bubbly type, OR are a guy who can talk his head off. My realtor in St. Louis who sold our house was late 50s, chubby, BUT was a extrovert and pushed houses fast and hustled. Very extrovert and full of energy. If he were in physical shape and even had a semi chad body with that energy level and personality he'd clean up.

If you're an introvert then real estate not for you.

I think men go into more commercial real estate, larger ticket items. In my area the competition for real estate is so intense due to so many realtors. My realtor down here was a lady in her mid 50s, southerner from KY. Very extrovert and friendly. She said in my county it's a waste of time getting into but she's good at it. Then at my part time job we have a lady with the same identical personality, about the same age, and looks wise very similar and she's only sold one house.

What part of Missouri are you in btw? I'm from St. Louis originally and miss it. Maybe you know my realtor I used lol.

I'm not in Missouri, it's just a username. As a realtor (part time) I can tell you it's more than just being bubbly. You have to get leads. Lot's of realtors prospect 4+ hours a day calling expired listings, etc. I do not because I have a high paying career already and got into it because MY realtor, a very attractive little woman makes 500K a year doing it. She and I both have the same degrees, although I went to a better school and I had a high income career before real estate and she didn't. We are both also investors. Yet she kills it because people will click her profile on Zillow instead of mine to go tour a house....

 

[biggoal]

I'm not in Missouri, it's just a username. As a realtor (part time) I can tell you it's more than just being bubbly. You have to get leads. Lot's of realtors prospect 4+ hours a day calling expired listings, etc. I do not because I have a high paying career already and got into it because MY realtor, a very attractive little woman makes 500K a year doing it. She and I both have the same degrees, although I went to a better school and I had a high income career before real estate and she didn't. We are both also investors. Yet she kills it because people will click her profile on Zillow instead of mine to go tour a house....

I'm the opposite. When it comes to high dollar transactions or anything important in general I'd rather have a MAN doing it rather than a peroxide looking bimbo blonde.

Granted my realtor down here was a woman and she was very good to deal with.

Just my life experiences women make more mistakes and can screw up a rubber ball. Men just get sh** done.

 

[jnMissouri]

I'm the opposite. When it comes to high dollar transactions or anything important in general I'd rather have a MAN doing it rather than a peroxide looking bimbo blonde.

Granted my realtor down here was a woman and she was very good to deal with.

Just my life experiences women make more mistakes and can screw up a rubber ball. Men just get sh** done.

Lol, I hear ya.

 

[Stephen89]

Computer programming, web development, software development, pen testing.

These are lucrative fields where you can get clients, projects through networking.

 

[Papa_smu]

Computer programming, web development, software development, pen testing.

These are lucrative fields where you can get clients, projects through networking.

There's money in it but the amount time you have to spend is deceiving. And the OP already stated he doesn't want to go down that path.

 

[7onriverI f]

1) Have all you want or 2) want all you have.

I'm in camp 2 atm.

 

[synergy1]

With trading one can achieve an extremely high velocity of money-making. The key is to explore the road less traveled and apply critical thinking through deduction.

The road most traveled is what would be defined as Conventional Wisdom. CW in the financial industry is designed for wealth transfer from the less-informed to the more-informed.

The market is controlled by the minority which can be proven by the majority of standing limits on the book going unfilled at market turning points. Whatever is happening now, smart money has already positioned itself and currently extracting profits.

In the light of this, one does have to start somewhere. A couple of beginner texts would include:
The little book of ______. A series of easily digestible strategies by Tuttle Press.
How to make Money in Stocks by the founder of IBD, WJON
How I made $1mil in the Stocks by Darvis

The promoted ROI of the S&P 500 benchmark is ~10-12% yoy. An advanced expert trader makes multiples of this intraday, day in day out.

How to make money in stocks is a fantastic book. Of all the books on the subject I have read, this one is the most comprehensive and it shows the process in action. I think things have changed since electronic trading have come into the picture, but it seems the patterns explained in the books still work. Other good books include Mark Minnervini's books which cover the same method, but go over aspects such as positioning and risk management.

I am in the process of making my trading profitable using said techniques and I will say this; it takes a lot of time to be able to not only read the market, but ensure you don't trade w/ the biases that kill most investors.

 

[DietrichVan]

25 years old, currently living at home working part-time at my local fitness center to pay the bills.

I got down to really stringent body measurements to do modeling...my agency hasn't found me any gigs and I'm almost halfway through my contract.

I started a business to sell Facebook Ad Clickfunnel services to small local business...they don't see the value and think I'm overpriced.

I started trying to learn dropshipping since I already understood Facebook Ads...coronavirus hits China and disrupts AliExpress and Silkroad orders.

I don't really want to work the typical careers everybody surrenders to. I want to end up living somewhere warm with pretty women; somewhere like Florida, California, Arizona...anything that isn't Delaware really.

Anybody happen to find a good formula for this?

I didn’t read all the replies but, if you are in the shape you claim to be

Start a private training/fitness business. This is extremely evergreen and tough to fail at. Especially considering gyms are closing/closed.

Im involved in digital marketing as well, don’t do ClickFunnels for them, apply it to your own biz.

+ the reason they think your overpriced is because of messaging or they’re broke.

 

[zzzabini]

Thinking of that issue, I always recall all the bloggers. There are so many of those now. TikTok, Instagram, Youtube - there is advertisement everywhere, and that's how all those people make money. but for me, that is so fake and useless.
And yup, they buy new appartments, trabel a lot, they have cars and golden retrievers, whatever. But I ceratin;y wouldn't want to immerse myself in that kind of working for myself.

Dealing with drop shipping or a decent online commerce is another thing, and it looks more relevant for me.
Well, of course, that's just my views. Everybody can decide for themselves

 

[7onriverI f]

I found a good way to be Wealthy.

Have all your want.

I found a even better way to be Wealthy.

Want all you have.

 

[Bandolero]

If you are not a 15/10, or have famous parents then I wouldn't consider "modeling "as a full-time job. If I am being honest, you sound like the typical 18-25 Year Old women who wants to make it in life without making sacrifices.

 

[christie]

I feel seduced by a youtuber that I predict will become wealthy working for himself.
'Xiaomanyc', a youtuber that films his nervous energy at approaching vendors and other strangers to practice his recently learned languages.
One video I watched he learned wolof for a couple of weeks then went to a Senegalese section of New York to practice it.
Another video, he went to Tulum, Mexico to speak Mayan to vendors and strangers.
Another video, he went to Flushing, New York to practice Chinese on vendors and acquaintances with his buddy.

I have admiration for this guy because of his skill and enthusiasm and courage!

As women love to predict future wealth in men, I can see what he's doing as a way to become potentially wealthy. Language learning skills and having the b*lls to approach people can be big moneymaking skills in so many ways.
2 times the native speakers encouraged him to get a wife from that culture, he was that good. So that to me means that if he showed interest, they would probably help matchmake him with a potential wife candidate as he got to know them better.

Very cool.

 

[DEEZEDBRAH]

25 years old, currently living at home working part-time at my local fitness center to pay the bills.

I got down to really stringent body measurements to do modeling...my agency hasn't found me any gigs and I'm almost halfway through my contract.

I started a business to sell Facebook Ad Clickfunnel services to small local business...they don't see the value and think I'm overpriced.

I started trying to learn dropshipping since I already understood Facebook Ads...coronavirus hits China and disrupts AliExpress and Silkroad orders.

I don't really want to work the typical careers everybody surrenders to. I want to end up living somewhere warm with pretty women; somewhere like Florida, California, Arizona...anything that isn't Delaware really.

Anybody happen to find a good formula for this?

I don't suggest the drop shipping route. At 25, you have time. Stay in your lane of gifts and talents. What about your interest in digital marketing? As for the issues of price, DEMONSTRATE your experience, portfolio, and ROI of your business.

 

[DEEZEDBRAH]

The trick is to start your own small biz. Robert Kysaki rich dad poor dad talk about the time (employee, small/big business, and investor). if you can side hustle and be profit, you can scale up after. Most importantly, you take advantage of the tax laws and write off a bunch of expenses.