who is Rich here?

[escaleraroyal]

Like have at least 200K in your possession.

how did you do it?

I really wanna be rich but i don't know how to.

 

[Albatross953]

Whatever you make, spend less than that. EVERY WEEK by paying yourself first.

Own your home.

DIY as much as possible, learn.

Any financial decision, car, house, investing educate yourself. Understand no one is putting your interests first but you.

Don't marry, or marry a woman who makes more than you.

Use low cost index funds to invest your savings.

Be patient, time will grow your wealth if you do all of above.

 

[Dhoulmagus]

If you want to make a million dollars than you need to follow that the path. Instead of using most of your excess money on random ****, spend it on investments. Also, hanging around other rich people helps a lot. Most people just expect a random event to bring them a lot of money, but they aren't dirk wilthrop the third.

 

[OnePost]

I never posted here but have been reading a couple months. You guys have a lot of good points but being in my 40's not everything applies to me (I lol at the "mature" board for "25" and above).

Not sure how you define rich. I make about 500k / yr making phone games. Business is good, look around anywhere and people have their noses buried in their phones.

Some pointers for you young guys that I have learned the hard way.

- Move far away from your home state, that will allow you to focus on your career instead of going out with friends all the time

- Nothing ever works first time. You read stories and see on tv people that start a business and wake up the next day millionaires. That almost never happens in real life. You will fail thousands of times before you finally succeed. Persistence and never giving up is critical.

- No matter how much you make, you will always want to make more

- People will find out even if you don't tell them. By your hobbies, house, cars etc

- Just like you read about the lottery nightmares, people always want handouts. I never give handouts but if someone is in a bad way, I always have things I need help on. I give them the opportunity but usually only 10% or so take you up on it... the other 90% just want something without working for it.

- You will be amazed by the life experience you have by the time your in your 40's. Wisdom I guess you would call it. You can see things coming a mile away that would blindside you when you were in your 20's. I thought I had everything figured out back then... little did I know how much more I would learn.

- If you start a business make sure its something you enjoy doing. Doesn't have to be your favorite thing, its still work. Just don't get into a position where you dread waking up every morning because you hate your work or career.

- It will get easier with women. Not sure if its age or status, but they seem to "know"... even though there still fully capable of flaking out on your lol.

Thanks for all your other posts on this forum. Like I said before, being 20 years older not everything applies but I still learn a lot.

Hope this helps! Good luck and never give up!

 

[PipeDope]

I'm 22, came from a poor family. Worked hard every single day and eventually opportunities came for bettering myself. Started a business with a small loan and am making a lot because of the work I put in. No doubt I have connections and luck. I think that's one of the biggest parts of becoming wealthy but aspirations is key. I now own around 250,000$ In assets and by next year am looking at around 350,000$ net

 

[mangotot]

I don't have that kind of money. If I did online forums would be last place I'd visit.

 

[escaleraroyal]

I was going thru my posts and noticed this one.
I still dont know why i asked this question.

Just to give an update. I now have 600k. I worked really hard these few years and made multiple investments that paid off.

Live is good financially. But i lost focus in the PU area.

 

[Dingo]

Start saving and investing while young.

Live a long time.....

 

[El Payaso]

Invest.

 

[logicallefty]

I've tried my luck at investing and can't seem to catch the right wave. My retirement accounts are doing great but anytime I try to do anything beyond that I loose my azz. I think one of my issues is that I am so conservative that I am afraid to take the right risks to get the right gains. You gotta risk some to make some, right?

 

[taiyuu_otoko]

Like have at least 200K in your possession.

I had over 200K at one point. Absolute dumb luck. Ten years to get it, four to spend it. (But it was a pretty good four years)

But there a few basic paths, if you follow what worked for others.

1) Start early, work your azz off, live within your means, invest conservatively (read the millionaire next door).

2) Get really good at investing, meaning spend 30-60 min studying per day, take risks but cut losses short. Starting from scratch you'd make a million in 5-10 years, IF you have a stable income AND live within your means. And you are willing to take small gains and learn from your mistakes (Rothschild: "I never buy at the bottom and always sell too soon").

3) Start a business, and do really well, sell it, franchise it, whatever.

4) Invent something. Hit or miss but if you hit it big, you're set for life.

Any case, if you want more than seven figures, give it at least ten years of hard azz solid work and NOT spending ANY on ladies.

It's REALLY HARD (unless you get a job on wall street out of college) to chase money AND girls and do well in both.

If you're lucky, (right genes, right education, right social circle, etc) you can hook up early and have a mil in 10-15 years. One of they key attributes to the "Millionaire Next Door" is choosing the right spouse.

 

[wifehunter]

Like have at least 200K in your possession.

how did you do it?

I really wanna be rich but i don't know how to.

It easy, just sell your soul to the devil.

 

[BeExcellent]

Yes. Business.

 

[Urbanyst]

Do you want to get rich fast or slow? That makes a big difference.

The fastest way outside of pure luck is to get a job with a high income and put your money to work (invest). I want to be rich eventually too, but not right now. I'm happy to just have a high income. When I'm old is when I'll need a lot of money. I'll need it to stay healthy and comfortable while traveling and dating much younger women.

 

[Trump]

Like have at least 200K in your possession.

how did you do it?

I really wanna be rich but i don't know how to.

200K is rich?

Generally there no get rich quick schemes, otherwise everyone would do it. You can gamble/win the lottery but those are high risk/high reward. The best way is to get a well paying job/invest/start a business. It also takes a lot of time and years of hard work.

Everyone wants to get rich quick but in never works that way. Even if you get a windfall of 200K, is it going to change your life drastically? You are magically going to become a Player? Baller? Valuable person to society? I don't think so. Unless you are in dire straits, having a fancy car or expensive home without earning it or helping society along the way will make you even more depressed. .

Remember, life and women are a journey, not a destination.

 

[ChristopherColumbus]

The trickiest thing these days may turn out to be how to preserve wealth. Diversity in assets and currencies might be the key here.... and of course no debt.

 

[wifehunter]

It easy, just sell your soul to the devil.

Or.... Trade.

 

[Tenacity]

Like have at least 200K in your possession.

how did you do it?

I really wanna be rich but i don't know how to.

I have over $200k in assets and net worth, but that's not RICH.

Rich to me is defined as being a part of the 1%, I would say your net worth should be at least $700,000.

 

[dustmuffin]

Don't get married. Live on less than you earn. Pay yourself first and invest at least 10% of your earnings.

I have invested in realrstate. I had a nice stock portfolio until my ex wife got it in the divorce. ]l

 

[nismo-4]

It easy, just sell your soul to the devil.

Join the illuminati? Please, I can guarantee you that if a lot of poor folks could get rich by joining it, they would. Don't you know how many musicians want success there?