I want financial freedom by the time I'm 21

ryan killa

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One thing to be aware of:

365 times 3.5 = 1278 days

1,000,000 divided by 1278 = 782.50

You need to make $782.50 per day.

Get cracking.
 

longwood

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let's just round that to an even $800 a day.


Does anyone have any experience with wholesaling properties, or flipping as others call it.? Would is your take on it.?
 

George Gordon

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Page,

Empty your Private Mailbox, or PM your email address.
 

Jvesti

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Here's your dose of real medicine. If you want to even come CLOSE to that even 6 figures.

Be prepared to have a tiny to non-existent social life, work every hour of the waking day, 7 days a week and as many hours out of the day humanly possible. Learn to be comfortable with 4-6 hours of sleep. Be prepared to fail and fail again until you get it right. Get talented at finding mistakes and errors and learn how to correct them. Just bein real here based on people who have actually pulled off great success in short periods of time.

The fact is the world is made up of plenty of dreamers, plenty of people with big ambitions but most of them wont go anywhere. I know many people in my personal life that say "ohhh i wanna be rich" "ooohh i wanna be a CEO" but they dont go much of anywhere (maybe when their 40 or 50 they'll see some success)

Because to bust through it takes an obsessional desire and TOP NOTCH discipline. You dont know obsessional desire until your willing to give up it all every nicety, social life, material liablities. Yeah be prepared to give up all your sports and extra curriculars. You dont know top notch discipline until your able to set down a definite plan for each day and follow it to a T exactly as you SAID you were going to follow it. To even have a chance to approach becoming a millionaire within 4 years you need to behave in that exact fashion no less.

So yeah with that said, its gonna be sacrifice its gonna be hell. Are you willing to pay a price of a million dollars worth of work in 4 years? That's up to you to answer. Above barely describes what a million dollars worth of work is.
 

Peace and Quiet

If you currently have too many women chasing you, calling you, harassing you, knocking on your door at 2 o'clock in the morning... then I have the simple solution for you.

Just read my free ebook 22 Rules for Massive Success With Women and do the opposite of what I recommend.

This will quickly drive all women away from you.

And you will be able to relax and to live your life in peace and quiet.

tristan22

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Not everyone has to go through all of the trouble you mention Jvesti to achieve wealth. I know plenty of people who have fell into good fortune and wealth--some of these individuals are even lazy!

Argue with me all you want, but timing and luck play a big part in achieving wealth.
 

cave dweller

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net worth?

longwood,

Want to raise your net worth?

Simple.............

Increase your income and cut your expenses.


cave dweller
 

Jvesti

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Originally posted by tristan22
Not everyone has to go through all of the trouble you mention Jvesti to achieve wealth. I know plenty of people who have fell into good fortune and wealth--some of these individuals are even lazy!

Argue with me all you want, but timing and luck play a big part in achieving wealth.
We're talkin about him being financially independent and in control of it. Don't give people excuses not to give that effort i mentioned above. The only reason a person WOULDNT give the effort i mentioned above is fear of failure, poverty, lack of control of their life etc. And we all clearly know that this kind of thing are the poisons that prevent people from achieving their goals.

The fact is he obviousely doesn't have rich family members that will hand him money, he's not gonna slip on the wet floor of goldman sachs. So the fact your mentioning people like that is not relevant. This is for people who have to make themselves and yes that's what it takes to make yourself. Just like this kid has to do. Right now he has a .00000002% chance of things like that happening to him as is now. What we wanna do is make it 50-100% and the ONLY way to come close to that is by what i've mentioned above. That's the medicine all self made individuals had to swallow. That's the medicine that most failures convinced themselves not to take because it might taste awful.

So yeah you can "kind-of work hard" and cross your fingers if need be. And excuse away not sacrificing that much because there are a lot of people born into wealth, or by chance became friends with someone who is what i described in my first post.

Dont make excuses or wishywashy so you dont have to sacrifice and give it every inch of being to attain what you want in life. Yeah it surely is difficult but its the price that ENSURE's the odds go in your favor especially in 3.5 years.

All successful people in history I know, all millionaires I know got there through what i mentioned above because that is the price to shoot up and become that. It's the way to become "luckiest".

That guy that wants to be a rock star up above. Needs to realize that his chances are slim to nil unless he's working harder than 99.99999% of the rockers out there it is at least has an excellent talent for it.

And if you develope work ethic like that you are sure to optimize your "luck" as they call it and keep your fortune. Simply because you are putting yourself out there and in situations where opportunity is.

No one should fool themselves into thinking things are going to jump on their lap or make excuses not to do what i've said. Or as "chances would have it" their gonna find themselves VERY dissappointed.

I know this stuff because im in the thick of it, i've met so many entreprneeurs and entre-wannabes that it would make ur head spin. I see why certain people dont break their mold and get nothing but whiney dreams.

The only ones achieving "self made" success are the ones working their asses of in the fashion i described above.

So get to work.

And people like that you mention are irrelevant in this discussion.
 

longwood

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I agree with Jvesti, it's definitely going to take alot of work to become a millionaire in less than 4 years, that i agree with you 100%, but i dont think its gonna be hell, its gonna be fun, hard and stressful at times, but also fun.
 

Jvesti

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Originally posted by longwood
I agree with Jvesti, it's definitely going to take alot of work to become a millionaire in less than 4 years, that i agree with you 100%, but i dont think its gonna be hell, its gonna be fun, hard and stressful at times, but also fun.
yeah i didn't mean hell like that, I mean hell as in what one would go through the first week of football season, you get battered, bruised, sore, you feel pain, you suffer but to a football player is all worth it because the equivalent they sacrificed is the equivalent strength, endurance, mental toughness , discipline they got out of it. This is what i mean.

It'll have you doing things that you fear and are completely uncomfortable with and smashing through that. You also might feel pain your might feel hurt. But you learn to get thicker skin, tougher, more positive, you learn to let bad things just roll off your back or you'll be stopped dead in your tracks. Just a week ago some nutcase threatened to sue me (he had no case). This obviousely bothered me, i talked to my lawyer and he told me he has no case. Now my skin has thickened, i learned better through pain, and know better not to have it happen again.

Its like in the story of hercules. "The Choice of Hercules" where he is approached by a woman called "vice" and a woman called "virtue"
http://www.mainlesson.com/display.php?author=olcott&book=holidays&story=hercules

What made hercules, hercules was the choice he made here. Between Vice and virtue. Which is a choice that all of us can choose to make and remains the same 3000 years later.
 

STR8UP

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The only ones achieving "self made" success are the ones working their asses of in the fashion i described above.
You are on the rigt track, but I think you are missing the fact that fast wealth is made by working smarter, not harder.

Most people (myself included) have to go throught the "harder" stage before they realize that wealth is a product of the creative use of money. It really has little to do with sacrifice when you know how to play the game.

Let me ask you this. How "hard" is it to borrow money? If you have good credit all it takes is a signature. Even if your credit is shaky there is ALWAYS a way to borrow money, and it doesn't require long hours of work and sacrifice.

When you learn how to borrow money, you can then learn how to use it to multiply your own net worth. This is what separates the people who spin their wheels from the people who become wealthy. It's a LONG, HARD road trying to become wealthy by saving a few dollars that only earn you 10%.
 

Page

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Originally posted by STR8UP
You are on the rigt track, but I think you are missing the fact that fast wealth is made by working smarter, not harder.

Most people (myself included) have to go throught the "harder" stage before they realize that wealth is a product of the creative use of money. It really has little to do with sacrifice when you know how to play the game.

Let me ask you this. How "hard" is it to borrow money? If you have good credit all it takes is a signature. Even if your credit is shaky there is ALWAYS a way to borrow money, and it doesn't require long hours of work and sacrifice.

When you learn how to borrow money, you can then learn how to use it to multiply your own net worth. This is what separates the people who spin their wheels from the people who become wealthy. It's a LONG, HARD road trying to become wealthy by saving a few dollars that only earn you 10%.
Very true. I am working on building my credit, and I'm preparing to do the passbook loan juggling act that you advised me on in the other thread. That is what I had in mind when I said earlier in this thread that I am building the foundations for wealth right now.

I've carried the thread for most of the time so far, but its now my turn to get some answers, maybe you could advise me here:

One thing I am having trouble deciding: should I try to start now (even though I am not yet out of college, have a rather scattered and sporatic income, and have no steady reliable proof of income to show lenders)and finish college concurrently or should I finish college and get my career started first as a sort of contingency plan?

Also, A friend of mine says that lenders look for proof of steady income when they issue loans (which seems logical enough b/c they want to know that you will be able to make the payments). His advice is usually good, so I give him a considable ammount of credibility, but I must have this confirmed or refuted by you before I will accept it fully. I already know from reading Whitney that a lender's opinion of you and your plans are the number one factor in loan approval, but does this other thing factor into it as much?
 

skeeloo

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IM JUST OUTTA COLLEGE AND YES YOU NEED A STEADY INCOME TO GET A LOAN, EVEN THOUGH MY PARENTS USED TO GIVE ME MONEY DURING COLLEGE THAT STILL DID NOT MAKE THEM GIVE SOME ME A LOAN, YOU NEED AN INCOME. I EVEN USED MY PROPERTY TO GET A LOAN AND WAS TILL REJECTED. **** IF I COULD FIND OTHERWAYS TO GET A LOAN ID IGNORE THE BANKS BECAUSE EVEN THE SMALLEST OF BILLS YOU HAVNT PAID CAN AFFECT YOUR CREDIT. AND WHEN YOU ARE YOUNG PPL DONT TAKE YOU SERIOUS IM PISSED OFF.
 

Jvesti

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Originally posted by STR8UP
You are on the rigt track, but I think you are missing the fact that fast wealth is made by working smarter, not harder.

Most people (myself included) have to go throught the "harder" stage before they realize that wealth is a product of the creative use of money. It really has little to do with sacrifice when you know how to play the game.

Let me ask you this. How "hard" is it to borrow money? If you have good credit all it takes is a signature. Even if your credit is shaky there is ALWAYS a way to borrow money, and it doesn't require long hours of work and sacrifice.

When you learn how to borrow money, you can then learn how to use it to multiply your own net worth. This is what separates the people who spin their wheels from the people who become wealthy. It's a LONG, HARD road trying to become wealthy by saving a few dollars that only earn you 10%.
I think this is semantics here. When I talk about working harder I'm not talking about working in a field like a slave nor do i mean putting in extra hours at that cubicle job. But when one person sets lofty goals for themselves. The next step is to creatively plan how to attain those goals. The execution of that plan involves extreme discipline, hardwork, 6-7 day a week effort 16 hour day generally if the goal is very high. It also involves constant analysis, education as a sidebar to this plan to sharpen the axe. Such as becoming a millionaire with 7-10 years let alone 3.5. There's no question in my mind this person to achieve the desired goal has to put all into growing and executing out that plan. Working intelligently putting in those said hours for 3.5 years to reach that goal?

So yeah working smarter 16 hours a day instead of 8. Its basic mathematical principle that one who "works smarter" 16 hours a day will arrive twice as fast to a destination as one who "works smarter" 8 hours a day.

Yes leveraging OPM and OPT is a surefire way to maximize efforts. With that in toe To do extraordinary things such as become a millionaire in 3.5 years takes one to squeeze out everything they possibly can to make the goal in addition to that. Plenty of companies have been made successful by executive teams who didn't even take a salary during the companies most difficult times it needed to face and of course they knew plenty about finance, getting money, and were well connected.

The reason i say the long hours, sacrifice, hard work in regards to most people on this forum is because like a space ship needs the most thrust when its on the ground, people are fighting against gravity with no momentum to start out with.

Remember the time when you pulled away from "the flow" that your environment was trying to push you in. It takes a whole lot of sacrifice, iron will, mental toughness to do it. I know it did for me to see every single person around me going one way and I the other. Am I right? Was it not at the time appear a great sacrifice, struggle, strain? (obviousely it doesn't now but at one time it did). I know for me I can start businesses and put all the cards on the table without hesitation wheras when i was conquering myself it took strain, struggle, perseverence, the building of discipline.

Most people on this forum also want to become rich all but fast. In order to become wealthy or accomplish a goal like that fast takes the sacrifice i mentioned in the first post. The sad fact is that most people with big dreams wont EVER work more than 10 mins - 3 weeks on acting on those dreams. Why because their not willing to sacrifice and struggle to stand up for themselves against the way their parents, friends, family, girlfriend, teachers, employers, have planned for them.

agree?
 

cave dweller

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longwood,

You need to build a plan.....

I turned 34 bucks into a 100 grand, but, it took me 10 years to do it.

cave dweller
 

STR8UP

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Originally posted by Page
One thing I am having trouble deciding: should I try to start now (even though I am not yet out of college, have a rather scattered and sporatic income, and have no steady reliable proof of income to show lenders)and finish college concurrently or should I finish college and get my career started first as a sort of contingency plan?
That's the kind of question only YOU can answer. It's kind of like asking, "How exactly do I get rich?" When it comes down to it only YOU can decide what is right for you at any given point in time. There are too many variables.

Also, A friend of mine says that lenders look for proof of steady income when they issue loans (which seems logical enough b/c they want to know that you will be able to make the payments). His advice is usually good, so I give him a considable ammount of credibility, but I must have this confirmed or refuted by you before I will accept it fully. I already know from reading Whitney that a lender's opinion of you and your plans are the number one factor in loan approval, but does this other thing factor into it as much?
Your friend is correct, to a point. Lenders do like to see proof of income, BUT where there is a will there is always a way. The problem with thinking this way is that even if you land a six figure job you will likely be capped out by the bank at one or two investment properties.

If you learn how to get creative you can always find someone willing to lend you money on the right deal. Nowadays there are no income verification loans, hard money lenders, private investors, etc. that will gladly loan you money for a solid deal.

At this point I could use my credit card lines to buy real estate free and clear. Granted it takes time to build credit card limits in the hundreds of thousands of dollars, and there are drawbacks to doing this (I won't get into that here), but it just goes to show you that there is ALWAYS money available regardless of your income. You just have to know where to find it.

Long story short- I recommend that you do not pursue employment income as a means to be able to borrow money. Even if you manage to land a high salary position you will still be limited to what the bank says you should be buying. Look for other sources. It's always good to have options even if you CAN qualify conventionally.
 

STR8UP

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Originally posted by Jvesti
So yeah working smarter 16 hours a day instead of 8. Its basic mathematical principle that one who "works smarter" 16 hours a day will arrive twice as fast to a destination as one who "works smarter" 8 hours a day.
I disagree. Wealth isn't obtained through more hours of hard work, it is obtained through more wise decisions. All the hours in a day can't compete with doing the right things in the right way. Measure twice, cut once. If you have an hour to chop down a tree, spend 45 minutes sharpening your axe. It's all about wise planning and exectution, not "hour in, dollar out".

The reason i say the long hours, sacrifice, hard work in regards to most people on this forum is because like a space ship needs the most thrust when its on the ground, people are fighting against gravity with no momentum to start out with.
I do agree with you on this. The thing is, most people DO start out working long hours to obtain wealth. If they become a millionaire in 10 years they might have spent 9 years spiining their wheels before they realize that they were off on the wrong track. They started out traveling at a steady 10mph, the as soon as they realized that they were doing things the hard way, they adjusted their course and reached 100mph in no time.

The thing I have an issue with is that you are basically saying that hard work is the way to wealth. Hard work is usually the first step most people take, but it isn't the hard work that gets them where they want to be.
 

longwood

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I definitely have a plan cave. I set goals every week to get me closer to my dream of financial freedom by age 21. All written down. i'm on my way. i wont be stopped.
 

backbreaker

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When I was 19, I decided that me and a business associate from high school (we had a knack for making money together since we were both 15) decided to start an online comptuer company.

The idea came about when we noticed that there were no compaines that really let you FULLY customize a pc, and the ones that did to some extent made it so complex that only the true computer geeks could build a pc with it actually working.

So the backbone of our company and business model was a three pronged customization system that had a beginner, itermediate and advanced catgory of customization. When I was working at Best Buy as a comptuer Tech in my teens, you don't know how many times I had people come up to me say ing "I need a pc with a DVD Burner that's fast" or "I want to play games and I know I need this video card". Well, we had the ONLY system to date that can let you literarly start with the video card and build your computer from there. And the beauty of it was, that it was 100% foolproof (thanks to our friends from india ), the computer was guaranteed to work.

To make a long story short, we started with $800 dollars in 2002, and in late march, I sold my part of the company for well in the mid 6 figures, and it would have been more if I would have held out longer for another potential buyer. A large computer company, who I won't name, offered us, the two owners 4 Million a peice for our patten on our customization option around my B-Day last year... Of course I didn't, or better yet, we didn't accecpt it, not so much because we didn't like the money, but for our hatred of that company that grew while we learned more on how they did business.

We grossed well over $1,000,000 in revenue last year, and when I resigned in March, we were on pace to break 7 Million. And our profit margin after SG&A was 17.5%, we ran a tight ship, were extremely effiecent and always had cash.


The business aspect of business is suprisingly easy, if you are dealing with something you know about. There wasn't much I didn't know about computers or building them. I would say the hardest part of the whole thing is the disipline it takes to be successful. I mean, It's YOUR company. There isn't much you CAN'T do and not get away with.

But back to the disipline. When we first were getting rolling, I worked 7 days a week, 14-18 hours a day. Now, once we got on track, I cut back to 5 days a week... I had the key to the office so I had to open the building, so I had to be there no later than 7:45, and I usually got off work at 4:00. I didn't take a lunch break and I usually didn't take phone calls. (I hate people who pride themselves on working 12-14 hour days, but they piss most of it away by being unproductive). On Friday's, assuming nothing major was going on, and all of the payroll was done and we had no standing issues with our banks, I would be out the door at 1:30 and let my business partner lock up. I had saturdays off, and on Sunday morning, me and my business partner would get together for an hour or so and go over the goals for the next week.

The only day I had off in my entire tenure there was the day I turned 21. And I really didn't even have that day off, I went to work and my business partner gave me a B-day present, and the 5 minutes later I got a call from this apartment place I was tr ying to move into and they told me if I wanted the apartment I had to move in that day.. in the 100 degree heat. I had already known I would have to take off early because my mom wanted to take me out to eat.

Luckliey I didn't have much furniture so I didn't take longer than 3 hours to get in, but I had to call in that day, even though I was already at work.

It's hard, espically being 20, 21, seeing all your friends going to parties or whatnot and you have to "work" but something I learned is that I was investing my time, most people spend it. And When I started to actually have a life again, when I turned 21, you are talking about FUN... because you know that unlike most people there, you are doing somet hing with your life, this enviorment isn't your life.

A couple of things I learned at my young age:

* There is absolutley nothing you CAN'T DO. I don't care what anyone says, they don't know what you are capable of. I sold my company for 2 reasons... 1, I didn't particualy like my business partner and 2) I had another love, even stronger than computers, and it's horse racing, and has been my entire life. One night I was sitting down and decided I was going to follow my dreams and decided to quit and get in the horse racing business full time. To make a long story very short, I have made more money in the last 4 months then I did in the last 3 years doing what I was doing, and it's not even about the money, I am just happy becuase I have loved horse racing since i was 7. I recently bought a couple of yearlings and I want to get involved in that side of it as well.

* The japanese have a motto that served me well " What can be done tomorrow can be done today"... It's a good way to think about things. Don't put off what can be done today until tomorrow.

* Be careful who your business partner is. I was the CFO and Co Chairman (my decision because I am very comfortable with budgets, numbers and banks) but because my business partner was.....wired is the best way to describe it, I was pretty much the CEO as well... our business contacts didn't want to deal with him, employees came to me if they had a problem and to top it all off, he ahd a bad habit of spending the companies money, and he got paid around $100,000 a year, with perks (didn't have to pay rent or utilities, just buy his own food), iplus dividends, in one of the cheapest places to live in the entire US.

* Learn as much about other compaines in your sector as possible.

* Treat employees like you want to be treated and you will be suprised at how efficent your company can be.

* Most important is when you do start to see a little success, don't get greedy. Aesop's Fables says that Greed can make you loose everything, and that's so, so true.


If you want some more detailed advice, feel free to PM me, and i have some resourses and tips I will be happy to
 
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