How to: Become a Millonaire p.2

[DomainMaster]

Read "Rich Dad Poor Dad" by Robert Kiyosaki. Srs, I read that book when I was 13 and it changed my life.

Are you rich?

[L8N-W]

Yeah no ****, lots of people have had a millions ideas but idea mean jack chit in the real world. You think nobody thought of an music cell phone back then? Of course they had, the difference is that they had to invest hundreds of millions of dollars in research and development. All you did was day dream some sci fi **** that you had no real world practical knowledge of creating.

Relevant

[YrRndFit]

Relevant

Ari Gold always knows the right thing to say

[Come at me bro]

How to buy lite coin?

[Workout4ever]

in to read tomorrow, thought provoking posts

[Ashton117]

Create something of value=millionaire+

harder than it sounds

[Tzaddiq]

Create something of value=mountains of debt

Fixed.

In terms of importance, market comes first (pick a growing market with millions of customers), then marketing, then looks, then functionality (the great idea). Creating a valuable product is only the beginning of the road to success.

[cowmooolester93]

That feel when I want to work hard and play hard. Yet I have nothing going on atm, nothing I'm putting my effort/skills into. I have no direction, kind of sucks.

[Gmoney23]

In on this thread...my friend was telling me to invest in a Roth IRA. I was reading up on them and they sound like a good idea. Anyone have one or know anything about them?

Roth is great for a young investor. When it comes to building longterm wealth accumulation this is my feelings..

1) if your company offers you a 401k match, max out up to the match point
2) max out yearly contribution to roth
3) real estate and if entrepreneurial enough to want to rent properties out i would pop this up to number 1
4) 401k past matching point
5) retail brokerage account


6) interesting business ideas if your entrepreneurial or get a chance to invest in a business that you feel safe enough to be involved in

[Gmoney23]

Best way to start IRA??? Im 23 with a little over 6k in the bank. Whats my best bet?? Roth? Where can I make on at?? Please Help. Thanks!

Depends how liquid you want the investment, if you expect to need that 6k in the next few years dont do the Roth. But, for longterm investing the Roth is a phenomenal tool. Do you have a 401k at your job?

[jay197]

For those who wanna learn the basics
https://www.khanacademy.org/economic...tock-and-bonds

[Gmoney23]

Becoming a millionaire isn't easy. There is no one strategy and even with investing, if you don't know what you are doing, it takes a while to make money.

Easiest way? Get a job with a 401k. Put as much money into it monthly as you can so that your company will match (ie if they match up to 15%, put as much as it takes to get that). Put as much as possible into a Roth IRA every month (5k per year), and put the rest that you can afford into another IRA.

The best paying jobs that are attainable (not talking Hollywood, pro athlete, etc) are IT consultants (can easily pull 6 figures, especially if willing to travel) and investment bankers (80+ hour weeks, but pull in 7 figures if you're good). Lawyers can make a lot, too, but most don't make all that much. When you are working, do an absolutely awesome job; word spreads. Don't skimp on quality of your work.

Starting your own business is great and all, but riskier. If you think of a good mobile app, develop it. That is a lot lower risk since all it costs is time and the cost of development and to maintain (can do in your free time).

Also don't spend stupidly. Save as much as you can. You don't need a $50k car (just makes you a target) or a new phone every year.

Oh and be prepared to be stressed about work.

I am not a millionaire, but worth a lot more than most people my age (6 figure job, near 200k in retirement accounts at age 30). Plan is to retire at age 45, then travel the world without a care in the world.

Investing in bitcoins is risky, but if you wait until they are low again and buy a bunch, that may work. A solid, low-risk return stock of 10% per year is going to yield you more long-term, though.

Plus there is a big difference in becoming a millionaire vs making a million dollars annually.

In fact I would say most Americans in their 20s now better plan on getting at least a million dollars saved up for retirement or they will be pretty screwed. Hell even in 2013 a million dollars isnt that much to live off of in retirement. If you go by the standard 4% withdrawal rule of spending 4% per year of your retirement nest egg a million dollars is only 40,000 of annual income in retirement. 40k is pretty solid if you have your mortgage paid off, not much in other debts, and done paying for children, but those are huge ifs and even if you do have all those things paid off 40k still doesnt necessarily mean lifestyles of the rich and famous style retirement.

[bobypp]

In...

[Stevenface]

What are your opinions on real estate?

[YoJosh]

what are some items people have brought off aliexpress/alibaba??

I brought a few pairs of calvin klein underwear for like $3 a pair and easily sell them for $10+

[kamiz]

In!

[freelans]

in.

[thedarkmango]

In.

[Tzaddiq]

You shouldn't be aiming to be a millionaire. A million was a huge amount of money not too long ago, especially when compared to housing value. Today, it's more or less twice the value of your house and other assets; hardly high enough for any degree of prestige... Now everyone in the middle class can be a millionaire with safe, steady investment. Some day a millionaire will be below the poverty line. 50 years ago that same million was worth almost 10 times what it is today, 25 times in 1900. If you're going after the prestige of being rich, $10m should be the standard.

[standon23]

what are some items people have brought off aliexpress/alibaba??

I brought a few pairs of calvin klein underwear for like $3 a pair and easily sell them for $10+

not same quality bran

[poopman123]

what are some items people have brought off aliexpress/alibaba??

I brought a few pairs of calvin klein underwear for like $3 a pair and easily sell them for $10+

would people buy underwear? Isnt there a minimum you need to buy? Ex: 1000 watches minimum order at $4 a piece?

What are some good items you think will sell??

[poopman123]

Was thinking of flashdrives. Can go to school and sell them

[Zerafian]

easy to make a thread saying its easy...but in reality its NOT easy to become a millionaire. Its takes years, talking double digits, even with the right ideas implemented correctly. Unless your lucky enough to have made the right friends and know the right people to get the proper exposure.

[wjb316]

Did you guys know New Jersey officially legalized online gambling? About a dozen online casinos are scheduled to go live next week. There are opportunities here - especially as the trend towards legalizing continues to pick up steam.

I'm just going to give it all away here since nobody really chases these kinds of things very hard. Been in the internet marketing game for a long time and have made hundreds of thousands over the past 10ish years (which isn't all that much per year but sounds better). Had to start over from scratch basically and am working on a new gambling affiliate site. I'm going to go after the New Jersey market. It carries some time-wasting risk though because I have no idea if these new casinos will even have affiliate programs.

Here's what I have going on right now:

http://www.gamblingforreal.com/sites/new-jersey/

I know, it's ugly. I'm not investing a dollar in design until the site starts getting legitimate traffic.

Do have a question though. I've been on the business side for so long that I kind of forget what it's like to be a brand new or casual gambler. Let's say you lived in New Jersey. What would you like to know about online gambling and poker? What kind of information would you see and make you think "damn, I need to share this with my buddies"?

[caso81]

ive seen quite a few people in this thread and the last ask about import/export and suppliers and where to start. ive been doing it since the beginning of the year with pretty good success. i dont want to make it out to be more than it is, but i make a few extra hundred dollars a week. the good news is, i keep it growing and growing. its not hard, very simple in fact. if i can do it anyone can srs. this guide helped me tremendously: http://www.startupbros.com/how-you-c...-of-my-empire/

there is another part related to the article called step by step how to find a profitable product to sell. both articles helped a lot. im not an expert, but i will certainly answer any questions i can. im working on another project, a dropshipping site, that im pretty excited about as well. i plan to be ceo'n and retire by 35.

I'm looking for good drop shippers if you don't mind sharing

hey man, ive seen you ask questions in this thread and the last and everything you ask seems really vague, unless i am missing something. what are you trying to dropship? do you have suppliers in mind? are you going to pitch from a website, ebay, amazon, locally or everything? do you have a business registered and a reseller's license?

[AlmostMirin]

Guise, got Millionaire Fastlane, how soon can I expect my bugatti veyron?

This, not srs.


But srs it was delivered today, time to get reading it.

[CCAurora]

This is how you should think

Fuark, right in the feels... it still blows my mind sometimes just to have my own apartment and all the basic **** that people don't even think about... people think I'm high all the time when I'm not... guess I am

[YrRndFit]

ive seen quite a few people in this thread and the last ask about import/export and suppliers and where to start. ive been doing it since the beginning of the year with pretty good success. i dont want to make it out to be more than it is, but i make a few extra hundred dollars a week. the good news is, i keep it growing and growing. its not hard, very simple in fact. if i can do it anyone can srs. this guide helped me tremendously: http://www.startupbros.com/how-you-c...-of-my-empire/

there is another part related to the article called step by step how to find a profitable product to sell. both articles helped a lot. im not an expert, but i will certainly answer any questions i can. im working on another project, a dropshipping site, that im pretty excited about as well. i plan to be ceo'n and retire by 35.




hey man, ive seen you ask questions in this thread and the last and everything you ask seems really vague, unless i am missing something. what are you trying to dropship? do you have suppliers in mind? are you going to pitch from a website, ebay, amazon, locally or everything? do you have a business registered and a reseller's license?

Sweet, haven't heard of that website. Looks legit. GL with your future endeavors

[Deltoidbrah]

Did you guys know New Jersey officially legalized online gambling? About a dozen online casinos are scheduled to go live next week. There are opportunities here - especially as the trend towards legalizing continues to pick up steam.

I'm just going to give it all away here since nobody really chases these kinds of things very hard. Been in the internet marketing game for a long time and have made hundreds of thousands over the past 10ish years (which isn't all that much per year but sounds better). Had to start over from scratch basically and am working on a new gambling affiliate site. I'm going to go after the New Jersey market. It carries some time-wasting risk though because I have no idea if these new casinos will even have affiliate programs.

Here's what I have going on right now:

http://www.gamblingforreal.com/sites/new-jersey/

I know, it's ugly. I'm not investing a dollar in design until the site starts getting legitimate traffic.

Do have a question though. I've been on the business side for so long that I kind of forget what it's like to be a brand new or casual gambler. Let's say you lived in New Jersey. What would you like to know about online gambling and poker? What kind of information would you see and make you think "damn, I need to share this with my buddies"?

wait, online poker is legal again in the US?

[datniche]

Also check out the eBay flipping thread. Tons of info on Ali and dealing with customers. I've done the whole Craigslist/eBay/Ali thing for a while now. It's a great intro to entrepreneurship.

I've been working on a more serious endeavor, an actual legit business/website. Should launch within about a month!


Ultra pro-tip, read or listen to this:




edit: got fuarked being last on page. lulz sorry