ways to make/save money?
so, i am 14 years old. my dream car is a 2001 corvette. i am willing to work blood sweat and tears for one. i already have a car-a 1995 mitsubishi eclipse. i am restoring it from junk to treasure and its 25% done currently. it will be done by the end of summer. actually, when baseball is over, (the 27th this month) dad and i can really get going on it. he said it will be done in 3-4 weeks once baseball is over. what im doing is i am painting it green with a black hood, blitz body kit, USB compatible radio, 2 TVS, a PS3, and a good sound system, when its all said and done, it will be worth $8,000-$12,000 (depending on how well we do) and i will learn how to drive from that. currently, my plan is to sell the eclipse for what its worth (not going below $8,000) and that will be a jump start.
i have allowance, i get $10 a week for back breaking work at home, i have a job at 7-11, but its only a part time job. i need more stuff to do. i have lots of spare time. can you think of anything else i can do to save money for this car?
(just to clarify, when i do get one, im NEVER adding aftermarket crap, no mods, not pro charging or supercharging, not putting weird exhaust on it, never changing it from stock. i would like a C5 white targa/T-top/convertible corvette. the way it came out of the box.) I am real passionate about this, and i have been for a couple months now. and once i get like this for this long its a real desire. its all i talk about. but do you have any creative ideas to save money for this car?
KBB says its worth $13,550 in good condition, and $14,500 in excellent condition. i have $1,345.82 total as of now.
to answer one guys questions, i am adding TVS because it is a show car. show cars like my ricer (mitsubishi) and these ricer show cars usually have thing out of the ordinary. they aren’t actually worth anything anyway. its hard to explain. it just makes it look cool. and it raises the value.the PS3 is there because i cant watch actual television shows on it. cant put cable in it LOL. so play games in it.
You get $10 a week for backbreaking work at home, yet you still have time on your hands?? Go around the neighborhood and offer some ‘backbreaking’ work at $10 an hour! Mow lawns, clean windows, clean out basements and garages, etc. You’ll think of something!
I need some clarification on a couple of things – you’re adding 2 TVS? To the Mitsubishi? Is that like TV as in Televisions? Why would it need a PS3? It’s not exactly a ‘family car’, I can understand the sound system. I don’t know much about cars. — oh, and is your dad or you paying for all the re-hab on it. If he is, will he require you to reimburse him???
All these wall street protesters are protesting what?
Global investors in a volatile minute by minute gain or loss are taxed at the IRS rate for their gains vs. the tax rates established under the IRS code by working for an employer earning a “fixed” wage.
Libs protesting wall street for what?
==>> That is the worst connect the dots mindset I’ve ever seen and only liberals do this.
Exactly what are the protesters protesting? Making money in a down economy where others are unemployed or underemployed?
Class warfare crap spun by liberals to liberals and Obama using Buffet to make a point is baseless and stupid. Buffet does not earn a paycheck…as all of his income derives from stock gains. He and others take the risks and libs bash this?
Isn’t amazing how those who protest other people ( top 10% of the richest ) who pay 75% of all collected taxes for the entire nation are bashed for not paying enough?
Trust me, I’m in the bottom 25%, but my poorness doesn’t cloud my clarity of facts. Why are libs having a hard time seeing through all the fog Obama and the dems put up for libs to see through?
@ Heather…..and to vent their unemployment status is at wall street? Sounds like going to a football game protesting a baseball team to me.
@ Cranky…..then stop consuming products made by and sold by those corporations. Squatting in a NY intersection does nothing, proves nothing and will get nothing.
They are protesting HAVING TO WORK for a living.
They are protesting NOT BEING HANDED EVERYTHING.
Utterly shameful. Continue marching east, OWS. Don’t mind the agua.
Is Barrack Obama going to CUT taxes? Or give everyone a TAX CREDIT?
Beacuse these two things ARE NOT the same.
The top 10 percent of income earners in this country pay 71 percent of federal income taxes, though they earn just 39 percent of the nation’s pretax income.
Thirty years of Republican tax policy have now completely eliminated federal income taxes on the poor and lower middle-income Americans, and almost eliminated them on middle America.
The latest data from the Congressional Budget Office and the Internal Revenue Service show that the lowest 40 percent of income earners as a group actually receive net payments from the federal income tax system. (They get 3.8 percent of total federal income tax revenues instead of paying any income taxes.) The middle 20 percent of income earners pay 4.4 percent of federal income taxes. Thus the bottom 60 percent of income earners together, on net, pay less than 1 percent of all federal income taxes.
Obama would end the Bush tax cuts and allow the top two tax rates to return to 36 and 39.6 percent. He also would allow personal exemptions and deductions to be phased out for those with income over $250,000. He would end the Social Security payroll tax cap for those over $250,000 in earnings. (The cap is currently set at $102,000.) These individuals will then face a tax rate of 15.65 percent from payroll taxes and the top income tax rate of 39.6 percent for a combined top rate of over 56 percent on each additional dollar earned.
And this doesn’t include state and local taxes!
What Obama is calling tax cuts for the middle class is really a slew of refundable federal income tax credits that would primarily go to those who are paying little or no federal income taxes now. Such credits would primarily not reduce tax liability, but instead be checks from the federal government for child care, education, housing, retirement, health care, even outright giveaways. These are not tax cuts. They are new federal spending programs hidden in the tax code. Who is going to pay for it? The Rich??
Not likely! At a 56% tax rate, I’m moving my money offshore!
Many individuals will attempt to transfer their compensation from wages to capital gains, since capital gains would only be taxed at 25 percent, or less than half of the top rate on wages. This would put a great deal of pressure on a company to do anything it could to make its stock quickly increase in value. Other individuals would try to incorporate so they could pay business taxes instead of having to pay taxes on their wages. Again, these resources would be diverted away from more productive uses and slow the economy.
High tax rates also encourage capital and income flight to lower-taxed areas. There is ample evidence in the United States of individuals and businesses moving to states such as Florida or Delaware to take advantage of their tax-friendly laws. A higher federal tax rate would encourage individuals to move assets abroad to take advantage of lower tax rates in countries such as Canada, France, and Great Britain.
I’ve read Obama’s tax plan on his site. There are NO TAX CUTS!! NO TAX RATES ARE LOWERED!! These are TAX CREDITS that someone has to pay for. We Conservatives call this “redistribution of wealth.”
Barack Obama wants to make the highest income earners in this country return to the 39% tax bracket. And the reason, according to Barack Obama, is because those people “can afford that.” In exchange, because he is such a nice guy, Obama says he is going to cut taxes for 95% of Americans … An act which he declares is not class warfare.
Two points: First, when Obama talks about raising taxes on the evil, disgusting, putrid, rancid, stinking rich because they can afford it, he’s merely going back to his Marxist roots. Remember “From each according to their ability, to each according to their needs?” Straight from the Communist Manifesto .. Just reworded slightly by The
Chosen One. Second; Let’s put this nonsense about tax cuts for 95% of Americans to rest. The bottom 50% of income earners don’t even pay income taxes, so how is Our Savior going to give them a tax break? What Obama is really talking about is tax credits. Here’s how his plan will work. He’ll come up with some fancy new tax credit to reward his minions for some type of acceptable behavior – like voting Democrat. Let’s say the tax credit is $2000. But … These people don’t owe any taxes! So what good is a tax credit to them? Well, this is a new type of credit called a “refundable” tax credit. If you’re eligible for the $2000 credit, and you don’t owe any income taxes, you just get a check form the federal government for $2000. Just a very simple wealth redistribution plan. Remember, Obama and the Democrats think that wealth in the United States is not earned, it’s distributed. It’s the government’s job to re-work that distribution to make it more “fair.”
Turn $1 Million into $100 Million?
I am wondering can I turn 1-2 Million dollars into 100 Million dollars, within a period of 10 years?
If I invest the money properly, diversify my portfolio, give loans to start up business, can I turn a mere 1-2 million into 100 million dollars?
This is the type of answer I am looking for:
10%: into stock market
10%: government bonds
45%: “good” start up business (entrepreneur)
10%: mutual funds
25%: Gold, Real Estate, FOREX
Info about me: 15 years old, Canadian(top of USA on the map), Love to make money, all my assets are worth more than what my teachers make in a year.
ALSO I dont have 1-2 million dollars, not yet at least (in the future)
Also when I mentioned “good start up business” I mean something like this.
I gave my friend a loan of $10,000 and in 1 year he turned that into $25,000, and hopefully within 2 years we can turn that into almost $100,000.
So yea please give me any info u have to offer thanks.
I agree, If u can afford bullion bars than you should buy them.
Me and my friend have 1KG Bullion Gold bar. (99.999%)
And several silver bars.
And I have invested about 15K into gold also.
So yes gold/silver is a good Investment, especially to protect your money from inflation, which is inevitable especially with the large sums of money the american treasury printed out (>1 trillion dollars american) last 2 years.
And also the Chinese government is also encouraging its citizens to buy silver.
So yes precious metals are a good investment, in the long term it will give you good returns.
Thanks for you answer.
No, I currently dont have million dollars.
But I hope to make that up before I turn 20,
I am currently valued at 55K (liquid) and other 40K not easily liquid.
And I am not looking into investing gold as much, I just want to diversity my profotilio, so I can take any loss from the venture capital that I do.
Apple is a good company and is doing good, but I am sure this is the peak for apple, it will eventually come down.
What ever goes up must come down, and when it comes down that when you buy.
Look at history, any company that has done well eventually comes down.
And also Baidu is a good company, and now it doesnt have competion with google, so I expect that company to grow.
I appreciated your compliment.
Yea, I intially got the money from some jobs I got, and I saved up for almost 2 years, I took a loan from my parents of 5K, and I than made more money (investing), and when I finally had 20K I paid my parents back, and I have since than invested in several things.
For example, I gave my friend 10K, and he has a business where he buys cars and fixes them up and sells them for much more, and we split the profits.
So yea, after 3.5 years of hard work I have brought the amount up to almost 100K.
And hopefully over a million by the time I turn 20.
It is encouraging to hear somebody like you (young) to have attained large wealth, espically at a young age.
you can contact me at my email:
You would have to sustain a 58.5% rate of return over those ten years in order to turn $1 million into $100 million. Very unlikely to actually happen. Investors like Buffet and Thorp are happy if they can sustain 20% to 25% per year and the market in general has averaged 6% to 8%. You would have to do a lot more than general proportioning of your portfolio, basically you will need to be able to evaluate a company’s prospects far better than the market in general and to be able to do so consistently.
When you’re chasing such high returns, the danger is excessive leverage. You really have to be spot on with your money management and consider the fat tails. This means that you have to assume a utility of wealth that is ruin averse such as the log utility of wealth and proportion your investments accordingly. This means you’ll have to not only be able to estimate the probabilities reliably but to also consider a causality model to prune the probability distribution. This means that you have to be able to itemize as many plausible scenarios as possible.
It’s good that you’re starting out at such a young age and have had some successes early on, that makes it a lot easier but you need to learn about risk, how to manage risk and decision theory.
why do americans feel they need an enormous military to feel safe?
The United States spends 46.5% of the total global distribution of military expenditures. Yes, that’s global, as in the entire world!
***My question is, does that enormous military budget make you feel safe? Does that protect your freedoms?***
Did you know that the US ranks 13th on the list that measures the quality of life for each country in 2005. Countries that ranked above the US include, Switzerland, Norway, Sweden, Australia, Italy, Denmark, and Singapore. These countries spend a fraction of what the US spends on defense and they are just as safe as we are. They also have the same freedoms we do as well.
In terms of education the US is becoming a laughing stock. The US ranks 33rd in terms of reading, 27th in terms of math, and 22nd in terms of science. We used to dominate these categories in the past.
If the US cut 1/4 of the military budget and put that towards education we might be able to crack the top 10 sometime in the near future.
***Does it bother you that the US spends so much money on defense when it could be used in much more useful areas?***
BTW I am an American
I’m Australian so I’m happy my country ranked better then the USA o/
Maybe it will make Americans learn their country isn’t the capital of the world.
Probably not though.
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