I’m going to become a millionaire. Tips? education?
Well I moved here from Russia and as a kid I would never have expected myself to become so ambitious. It all started when i was 14. I started learning obsessivly about the stock market now 6 years later i have a good grasp that this is what i will do to make my millions. I trade stocks. Eventually Ill pursue real estate and stock investing. small business etc..I’m worried about my education though,. Im going to a community college. Grant it I’m maintaining straight As and am on the Phi Tetta Kappa honors society. I plan on transferring to univesrity. I know hoever that i will not get into an ivy league. Although Its probably probable that i will end up in a top 40 undergrad right? From there i can get my MFE or MSF etc from an ivy league right?
IF YOU BELIEVE IT, YOU CAN ACHIEVE IT.
Should I go into Business with my soon to be Mother in law?
Heres the situation I am dealing with at the moment. What would you do? I have been with my now Fiance for over 5 years and we are getting married next summer. We are both 23 years old and we opened a restaurant almost 4 months ago. Things were slow at first but now things have picked up and customers love our food and come back for more. I am at a breakeven point but the thing is that I have an opportunity to let my soon to be mother in law partner up with us. She wants 30% profit which is fine but the way I look at it is that I don’t want to be bossed around because I am done with that!
A couple of years ago I used to work at her Dental office which she owns with her brother. I have spent about 15k cash and 15k in credit opening but I am down to about 4k in cash capital. The way it would benefit us is that she is willing to buy new tables, decorate the restaurant better and add boba tea machine, blenders and equipment for our “smoothie” side of the business. I don’t know what to do! Im growing desperate for no reason. Did I mention she is Asian so I don’t want to hurt her feelings. In a way in might be good for me personally because I am a bit tired of working 6 days a week 12 hours a day and I would like to focus on my passion which is real estate investing. What would you do? If you have any business experience, what are things to watch out for? Dips and falls? Any tips are greatly appreciated Thanks!
I could think of about 50 reasons why this is probably a bad idea. And you don’t say how much money she’s talking agout putting in, and whether she’ll be working there also.
And if she’s just putting money in to redecorate, etc, how does that free up your time? It doesn’t.
Is it ever too early to start accumulating property (real estate)?
I am going to be graduating from college soon, and i would like to buy an apartment. My parents are willing to invest couple of tens of thousands of dollars, redirecting college money that they did not have to pay because of scholarships i earned. i will rent out the apartment, live at my parents’ place, and use my small salary to pay for the apartment fees (don’t have any other expenditures). i would like to have an apartment in a good location and that will give me a return if i ever sell it, so naturally it will be expensive.
I do not have a developed credit, and i am pretty much clueless when it comes to this kind of financial stuff.
Is this a good way to go about attaining my own place? what kind of things should i watch out for in embarking in my new financial life? Will it be co signed to my parents if they pay for part of it? Should i wait a bit before looking for apartments?
Any general tips for financial investment and growth for a clueless to be college graduate?
It depends on what you’re trying to go for. Is it capital gain? Or Income generating?
A capital gain deal is one that doesn’t generate a lot of income, but could effectively make you a lot of money on selling. This is the deal you want if you’re low on cash.
E.g. A house is worth $100,000 but the owner wants out now and is selling for $75,000. If you buy that house and sell it next day for its true price: $100,000, you just made $25,000 in a day!
An income generating deal is one that, as it is obvious, generates income. You want to go for that deal if you have lots and lots of cash on hand.
E.g. A house is being sold for $100,000 and that’s exactly what it’s worth. But the house is near to a college and students are always looking to rent. You didn’t immediately make money, but you just increased your monthly income by $2000 (returning %24 ROI (return on investment per year) on the original 100000 you paid. Anything from %20-%40 is concidered a good deal while over %40 is concidered perfect. The ROI is what you’re supposed to calculate.) and chances are you’ll be able to sell that property for a higher price after a while. Of course you won’t want to sell the deal if your ROI is high enough driving its price even higher 🙂
It’s never too early to go for capital gain deals since this is where anyone should start making money (appart from getting a job of course). It COULD be too early hoever to go for income generating deals because you won’t have the money for lots of opportunities that could get you some cash (unless if the ROI is at an unpassable %60 offer).
It should be the small investor’s goal to increase his cash on hand through capital gain to ultimately go for income gain.
This is my mentor talking, word for word, and I will go for it once I hit 21 🙂
Hope this information helps!
No Down Payment?
I am in the process of gathering information, since my husband and i are tired of renting and want to buy our first home, I found a pretty informative website that is supposed to guide you through the steps of investing in real estate. has anyone ever used the Carlton Sheets “No Down Payment” method to buy a home or invest in any real estate?
If not could you give me some tips on where to start? we are completely clueless when it comes to the steps in buying a home.
any input would be greatly appreciated. thank you in advance.
Get yourself a copy of and read Home Buying for Dummies.
With the current credit situation, you are unlike to get a mortgage with zero down payment. FHA loans are available with as little as 3% down.
Start investing and make passive income? (I’m 16)?
I read Rich Dad Poor Dad, and though it seems like its a little skeptical what he tells, he has some great tips on how to be financially successful. I won’t want to become a real estate person (Can’t think of the name) like him, but be something else. What would be the best way to make the most passive income?
I’ve began to read and learn a lot about stocks and bonds but i’m still hazy on the subject. I want to make a lot of money when I get older! And don’t tell me to pick a career I want.
It sounds like i’m greedy, which you can say to a point I am. But i’m not a cheapskate greedy teen. I loan out money and such and don’t wish for everything. But when I become an adult I would like to have money work for me, so I won’t have to.
So how investing in products be in a few years? And what types of investing should I do?
PS what are some great books about ways to improve my Financial Literacy and about stocks and investing. I also want to be my own boss for when I become older.
Any information would be helpful.
I started investing at age eight. You’re not that greedy necessarily. If you have a job and earned income, then you will want to open Roth IRAs so you don’t pay tax on earnings. When you get more than $25,000 saved and may trade actively, then you could open an account at Interactive Brokers which charges $1 per 200 shares traded and minimum $10 per month even if you have no trades.
I would suggest that you start with ETFs such as XLU, which is a utility ETF. You also could research DRIPs.
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