ask a millionaire anything
before you ask: it's sitting in a pnc bank account because i recently liquidated a bunch of NFLX and i haven't decided where to move it from here. so ask a different question, fag
a grand isn't enough to really make any moves, unless you're going for some super small-cap penny stock. i think you're better off investing that grand in yourself - start up a small business.
this is a future thing. Currently entering senior year of college.
Big car guy, 95% sure ill be making 73k+ out of college. Those cars cost anywhere from 75-100k. Although they no longer depreciate, and in some cases appreciate. Thinking of buying in full or most if I save enough.
i actually never eat breakfast, but i don't recommend that for everyone. i have a deviated septum which messes up my sleeping, and for whatever reason, i never wake up hungry.
no drugs currently, but i did a fuckton of adderall when i was starting the company. lots of 24 hour workdays.
We're all poorfags. Cept Op
Give me some OP I can't even pay my bills
i never tell people how to spend their money, but here is what i would do if i were you:
73k is gross, which means you're taking home like 40k or so.
take that 40k, find a friend of yours who you can trust, but isn't currently working. pay him x per hour (x is variable depending what city you're in) and have him buy y cases of bottled water at costco for $3/30 pack. have him go to your city's common area, sell it for $1-$2/per in the summer.
repeat repeat repeat. buy two cars in a few years.
seen way too many of my talented friends become lazy fuckwits because they smoke up every day. i'm not against someone making the personal decision to use it, but in my experience, it makes you way too comfortable with sitting around doing nothing.
What do you do in your spare time and why isn't it traveling/ exploring the world. If I had even 1% of that I would be traveling as far and as wide as possible. Also how did you get into software engineering?
hmm. that's an interesting question. i don't know i'm *happier* per se, but i wasn't all that unhappy before. i will say that i worry less, and it's allowed me to have some travel-related experience i likely otherwise wouldn't.
How to survive with your first company during the first year which is the most difficult one? Taxes, price war, clients who are more experienced than you... And all that with keeping in mind I don't have any Jews in family. Also no one of them is rich and no one with a company.
i don't think so, but i guess others might disagree. i started this thread more to help people with some decisions they might have about their future, investing, or whatever - i'd rather answer questions about that than about myself or what i ate for lunch.
(i had a bbq brisket sandwich.)
How did you make it and how long did it take? I have maybe two or three years left to live. I want to leave something for my wife and her future. I want nothing else. I have lived thirty years unable to have a savings. I had an ex empty my bank account in 2009 with my life savings and she disappeared into Miami used the money to start art school and fucked my friends. My wife is an angel she has to help me wash my butthole and when I found out I was dying she told me she would follow. I have to protect her after I am gone and money or stocks would do that.
it actually is traveling, but i still work for the company that bought mine. don't have a ton of free time.
i was always a computer nerd, as was my dad, which made it easier. started programming in c at like 9 years old. math and cs have always been my thing.
if that's not you, but recognize that stem is the wave of the future, check out data science - easy path to huge salaries.
three ways to gain wealth: entrepreneurship (my path), real estate speculation, stock speculation. i guess inheritance also, but that shouldn't count.
tons of different ways to make money. i love arbitrage businesses in recession proof markets - my example of selling costco bottled water is a very easy way to net $300/day.
I was a math/econ guy in college and while I think data science is cool, I'm not sure it has the long-term staying power of a lot of other stem jobs. There's definitely an employees' market right now but those salaries will come down. And I get the feeling we'll be able to offload a good portion of their work to computers in the next 25 years.
Thanks for the reply & advice op. Also why are you still working? surely you have enough to travel and live well for the remainder of your days or is there something else you want?
well, i was somewhat lucky to get into a prominent accelerator program, which got me a bunch of good vc intros. from there, it was just about pitching them, selling a vision, and then closing the deal.
the biggest thing you have to be in the first 12 months is tenacious - you have to build like crazy, network like mad, and above all, sell people on your vision. if you can't sell it, you can't get people inspired to work for you for nothing or next to it, you can't get the vc pitch to work, etc.
Could I please get 10 bucks on my paypal? My ex-wife has ravaged me this month for allimony and I literally have enough for rent on the 15th but nothing for food until the 25th.
10 bucks will get me one of those whole chickens from Walmart
I'll transfer the money from the paypal to my checking.
started a company and sold it, probably four years front to back. sorry about your ex.
sounds like you want something relatively risk free - i'd buy a bunch of vanguard index funds.
i have not. my guess is that i'd think it's silly.
only one thing really determines whether or not you "grow rich": hard work
it's a facile way of looking at it, but it's true. people might look at zuckerberg and think, "man, that dude got so lucky" and they're right
but he was also an incredible programmer who seized an amazing opportunity, owned his vision completely and never accepted anything less than an amazing product from anyone who worked for him, he still to do this day works 70 hours per week
Did you have to acquire investors, How many people worked at this business on the reg) Did you have to get a loan, Did you build from 1 and grow up to more employees? What jobs did the first five people you hire have? Did you run into any legal trouble? did you get a good price for your business? all answers not expected. What next?
ha, a part from the aforementioned deviated septum, pretty normal.
i played soccer in college (and played a ton of sports growing up) so i have some shin and knee problems here and there. bummer.
if you have a specific skill, do that - taskrabbit, elance, that sort of thing. otherwise, find markets in which people don't know the true cost of things, or don't care because of external conditions..like paying $3 for bottled water on a hot day.
I mean I know that, but data scientists don't study a whole lot more than what I naturally did in a math track in uni. And they're like kinda finance, kinda econ or stats, but not quite.
we did have investors, mostly VCs that we met during the accelerator process. we got up to about 16 employees in total, first employees were almost all engineers.
legal trouble only popped up when we were selling the company, everyone wanted to try to get a little more out of the deal.
very good price; everyone was happy. will be happier when acquiring company goes ipo.
it depends on the business, but given that right now the macroeconomics are complete garbage, getting to profitability is the most important thing in any business. VCs won't subsidize growth any more, at least until their balance sheets look better, which will only happen once the ipo market looks better.
Did you personally have to seek and speak to investors or was that a service that you arranged?
It sounds like your employees ended up owning a share of the business?
Could that have been stopped if they were paid employees?
Did you initially Pay your first engineers?
i personally did it. VCs in the early stages only care about two things: how big your market is, and whether or not they think you're going to take their money to mexico. it has to be you, and you have to go in there with the most enthusiasm for your vision in the world.
my employees owned about 20% of the business. in the early stages when your guys are taking below market rate, you have to give them a shot at some upside.
I guess I can understand that, Thanks for the insight I think you have given me a bit more insight on how to go out develop my own ideas. ty
it also helps to have a hot girlfriend. she was with me before i sold the company, so i have to respect that she's ride or die.
with that said, i have noticed her having more expensive tastes these days..
i tell people all the time: when you start a company, even if you fail, your resume looks 200x better, because you look like an independent badass who is confident, talented, and driven.
if you like option trading, i'd be shorting the hell out of LNKD. it's trash. also DIS, espn is going to murder their balance sheet once they go over the top and they stop paying for live sports rights.
if you just want to do the ol' buy and sell game, i'd follow obvious trends: cord cutting, for example, means buy netflix and sell time warner.
answered this about a hundred times over. i don't have transfer fees on it, because it was a free college account i set up like a decade ago.
think selling a shit ton of stocks on friday will clear ACH over the weekend? dream on, friendo
hillary. i will always go with people who actually want to help over people who just want it for their ego.
hillary is far from perfect, but she's got a history of service and legitimately wanting to make things better. i dig bernie but he's got no chance, and his understand of economics is..not inspiring.
started a company, sold it.
honestly for a lot of my investments, i hand it over to my friends who work for activist, programmatic hedge funds and let them handle it. a few of them also own properties they rent out, which is massive business here in nyc, provided you put enough down and get certain tax abatements.
for the average dude, stick to index and spider funds and just grind out 5%+ per year.
currently 26, got hired somewhere nice 2 years ago. Making about 140k a year and maxing out my 401k. Doing that so i can also max out my roth IRA due to salary limitations. I have no children or wife. My question is, what should i do with all my spare money? I live on roughly 800$ a month and pull in about 5-6k a month after deductions depending on overtime...
everyone else in this thread, follow this man - maxing out your 401k as soon as possible is huge. HUGE. especially if your company matches! this dude is a boss right here, compounding returns are your friends.
i recommend travel, but that's me. go to places that are unlike any other place on earth: iceland, maldives, new zealand.
Well, there is nothing revolutionary about that. The VC's are just like every other client I guess. If you stand out, they'll choose you, not someone else.
I'm in construction business, so it's different than yours. Do you intend to be a VC?
it's worth it only if you go to a legitimately elite university, and major in a stem major. going to a state school to major to english? no.
i'm a big fan of microeducation - learn a valuable skill, like python, data science, and so on.
you know what else will always make a ton of money? plumbing. i'm 100% serious. our infrastructure in the states is garbage, and we're always going to need to shit.
she's swedish so yeah, she's pretty fucking white. she also at that time was visiting her family in california, so i guess she had a ton going. also that photo isn't color corrected at all.
i am 1/2 german, 1/2 italian. world war two would have been bad for me.
she's got a nice ass, but her tits are the better half. i'll dig through what i have, but it won't be as a nice.
(edit: can't find anything good, so here's her tits again.)
i would love to be a VC, but not for a few years. VCs are like teachers, they invest because they can't do it themselves.
also, i hate that quote, because it's super disrespectful of teachers. teachers should be given waaaay more respect.
I'm that 26 yr old that is maxing my 401k that doesn't know how to reply to specific posts lmao. Anyways, if i don't really enjoy traveling are there any other things i should do to ensure i have a solid retirement/future? Im a bit terrified about the economic state of the U.S. as well as the upcoming election if you haven't derived this already lmao. Just worried about my future. thats all
berkeley is. i can see arguments for SD and LA as well.
out there, you're better off at caltech or stanford if you can get it. CMS too.
stocks just won't get you the upside you want, unless you want to play the small cap penny stock game. options are where the real nut is. but again, look for trends - cord cutting is an obvious thing, so buy AMZN and NFLX, sell TWX, DIS, etc.
>build a mansion with hidden sex dungeon
>fund a world tour for a metal band, travel with them around Europe, America, Eastern Asia
>become a movie producer
>become a music producer
Oh, sorry, I forgot we're on 4chin. Buy a PS4 an fuckton of games and weed, DUUUUDE LMAO DAAAANK
she's very pretty, yes. also, free tip here: she's used to be on the heavier side (she's still a bit curvy, but i love that) before she got into yoga. anyway, bigger girls - they love to fuck. love it. i will guarantee you they want it more, are better at it, and are moving giving then average/skinny chicks.
i'm a boob man, so it's win win for me.
hmm. well, if you're super worried about the state of the economy, you can tie it up in risk-free investments like bonds and CDs. or you can short the country itself by buying gold or sell-side indexes.
i don't smoke weed. watched it ruin my father's life and now hes watching me succeed. the hidden sex dungeon does sound pretty sweet though lmao and my gf would probably be down for that although 140k is nowhere near enough to build a mansion. maybe ill build one with my retiremen. also, PC master race, get outta here with your PS$ bullshit
In the beginning did you attend any courses, read books? Are there any books I absolutely need to read or I'll get rekt? Are there any business/management courses I need, despite having common sense? No irony in this.
How many people were working in your company?
Has anyone ever quit your company because of your fault?
You're a faggot!
hmm. attend courses, i guess - i was a cs major.
i can't speak to all kinds of entrepreneurship, just the startup world. it's obvious, but you have to be three things: incredibly skilled, very determined, and have the ability to communicate your vision effectively. if you don't have that, maybe you're better being employee #10 or #100 than #1.
we got up to 16 before we sold.
we fired three, but no one quit. i'm very proud of that, actually.
sorry. i can obviously empathize because i was once poor as hell (my dad was a factory worker, believe it or not) and had to work my way through college just to eat shitty ramen. but for me i never asked anyone for anything because it made the statement that i didn't know how or didn't want to figure out a way to get those things on my own.
actually, story time: i wanted to get a car (the aforementioned saturn ion). so i did some design work for a friend, made $1000. took that $1000, bought the a/c units of all of the outgoing seniors who were graduating, and i stored it in the basement of a fraternity house on campus. sold them to incoming freshmen in the fall for 3x profit.
shrooms, when i was in sf. it was okay, wasn't my thing.
greatly enjoyed both e and coke, but have to be very, very careful with both. on the former, don't want to fry my brain and the latter, seen it fuck up too many people's lives.
>140k is nowhere near enough to build a mansion
Depends on a country. You can move to some place in Europe and live like a king.
>i don't smoke weed
>PC master race
Sorry for underestimating you, I got lost when you said you don't know what to do with your money.
Well, most scientists are underpaid. This is true, but I lucked out and went into nuclear. Making well over 6 figures with a bachelors. Debt free, Paid off my student loans in the first year of employment. Although, it is significantly easier to find a job in the STEM field.
okay, op here, going to end it on that. thanks for the questions, everyone. no idea if that burner email will allow me to send or reply or whatever, but there it is.
this was fun. i'll do it again soon.
I meant courses outside your profession, but ok.
Did you suffer any health issues because of your work?
Would you do anything differently, i.e. spent less time on something?
Any major mistakes you made?
Hey op, you're a faggot. You come here wanting to give advice rather then money. We don't give a shit for advice, we get it all the fucking time. What the fuck makes you any different from the last millionaire that was on /b/ giving advice rather then money? You wanna be a hero, give us some money or get the fuck out.
I expect him to be more responsible with his finances. It's very insulting to people who are without to see someone handle their money so carelessly. Talk about new money, the fact that he's not investing half of it into a portfolio implies a lack of understanding on his part
he has more then that, he doesn't care what happens to that. Which is why rich people are annoying. Don't even get butthurt over it, nothing you can do cept get jealous over it
OP, I'm 26 years old and currently launching my own small business this summer (it's a guaranteed bread earner, vintage gourmet ice cream push-cart/stall)
I on't jsut want my salary to be my only income, and thanks to Investipedia, I'm now aware of the basic principle of putting your money to work for you through investment, but how would you suggest I go about this?
My salary is going to be about £20,000 a year.
Are there any learning resources you can recommend, or your own strategy ideas you'd recommend on what I do with my money to invest it?
Stocks/shares? Bonds? Land/property? Pls halp OP. the more specific you can be, the better! Thanks in advance.
It makes no sense to get jealous it's his money, but his wastefulness is saddening. It's like seeing a cute woman become a crack whore, it's such a waste of potential. He needs to invest and he needs to transfer his money to a proper bank
but he is not investing correctly otherwise he'd have 4x that amount. Like I said it's like seeing a kid who is really good in college football, but goes out and gets into a car wreck while drunk, injuring himself, costing himself the pros. Just be wise and avoid future failure
> Implying its virtuous to not ask for advice/help
H'okay, pal. How the fuck are you meant to learn anything if you don't have the humility to ask practical questions to people who demonstrate knowledge in an area you want to improve in?
I'm not lacking in motivation, because I'm working harder than you could imagine to realise my dreams. if you'd have said I needed more"initiative" instead, then I'd see your point.
I agree its a lazy mind frame to ask for a specific plan, but It would be a good resource to take inspiration from.
and i told you read the thread, you're assuming that he only has that much.
you can learn without asking, i do it all the time. If you don't know how to do research without asking questions, i fear for you.
Ya know I used to have Wells Fargo before I moved to Pittsburgh. Theres not a Wells Fargo bank 100+ miles from here so I had to get a PNC account. I haven't had any problems with them and they waive my atm fees, which is tits.
If he has more than he needs to invest that as well, but first he must not move it to PNC, that bank is nigger tier. As benjamin franklin said "a fool is quickly departed from his money"
Why would you assume the only learning I do comes exclusively from asking questions?
Nothing I wrote would give a rational minded person that impression. I even referenced some of my research (investipedia), so you had no reason to assume that. What an utter Gobshite.
What kind of advice do you have for a 19 year old living in switzerland,?Do you think the way of making money is different in the world? Where do you start earning good money e.g where did you earn your first good income?
Holy shit OP you're so rich!
You've got half of what it costs to maintain my plane yearly!
Well, presuming I continue flying 350 hours.
If I fly less you might be comparatively less poor! Good on you buddy.
what are you righting from if your phone is 5% ?
You said you've been poor and did the whole Ramen diet.
However, do you think there's more constructive ways of saving money and also keeping a good diet that won't make you sick to your stomach after a month?
I'm currently 19 and have only now figured out the value of saving money but I really love good food. Was able to stash $900 in 2 months. Nice food is my fucking downfall. Also, what kind of porn you beat your dick to?