So how much $$$$ are you going after?

these "things" aren't available on any shelf so no amount of cash could buy them

 

You aren't talking about the Charlie Sheen drug are you?

these "things" aren't available on any shelf so no amount of cash could buy them

 

You aren't talking about the Charlie Sheen drug are you?

 

No I am not because they are available on some shelf

No I am not because they are available on some shelf

 

all this talk of making 100k a month. how many of you are actually making that much? and how can i make that much without busting my back all day long. im close to making 100k a year. i want to get where some of you are. i know it hasnt been handed to any of you, but any advise will be great. thanks!

Once I leave college I'm joining the Air Force. My goal is to be a Colonel and being that their pay is $108,000/yr, I'm perfectly fine with that. As long as I can comfortably afford a German Shepherd, a GT500, and a good sized house (not a 25,000sq/ft mansion).

all this talk of making 100k a month. how many of you are actually making that much? and how can i make that much without busting my back all day long. im close to making 100k a year. i want to get where some of you are. i know it hasnt been handed to any of you, but any advise will be great. thanks!

 

Sorry, we don't allow questions from anyone making under 250k

 

RAWR

 

The lottery is an average person's best chance at becoming a millionaire. Now take a super intelligent, extremely hard working, out of the box thinking millionaire, and his chances of becoming a billionaire are about the same as that average persons chance at winning the lottery.

Well it IS a long way to go, that's a thousand millions. But it's not so hard to take a mil and turn it into 10 though. I do honestly believe personally though, if I ever reached a hundo........a B wouldn't be a tough stretch. But that's because I know that what I do; once it generates wealth to that magnitude, it's then a collision course, a machine cause it's already set-up to do nothing but keep multiplying.

 

Well I intend to prove you guys wrong, or die trying anyway

Good Luck, even if you just get close, you're doing fine.. Just make sure that's not your ONLY motivation.

 

all this talk of making 100k a month. how many of you are actually making that much? and how can i make that much without busting my back all day long. im close to making 100k a year. i want to get where some of you are. i know it hasnt been handed to any of you, but any advise will be great. thanks!

Bro there's some guys on here that make that in a week. And a couple that if you added another zero to that number they'd show you that in a monthly check. Making $100k a year isnt anything to sneeze at, though.... That's GOOD money, man!

 

The issue of growing from there is always a consistent pattern. As far as I've seen, unless you work for a start-up company that ends up becoming a worldwide juggernaught, you have to be in business for yourself. You have to create something that is unique to whats out there, and be the BEST at it. You have to know how to sell-it, market-it and serve-it. You have to know how to grow and develop it. You have to know how to adjust and learn and fight for it when industry issues threaten it. And you have to be willing to yes, put in the time required to get it there and stay there. You may have days, weeks, years of busting your back before you see any tangible success, but you must stay committed to this thing you've started, and you will see your downtime starting to out-weight your ass-busting time.

 

And above all, the ONLY thing that is going to keep you doing all of those things in the midst of uncertainty and risk of complete and total financial, social, personal and familial ruin............You must LOVE what it is. You can never just do it to "get rich" because then "ok maybe not so rich" starts to set in at the slightest hint of adversity. Honestly making "a lot" of money, is a by product of being good and successful in doing what you love to do.

Sorry, we don't allow questions from anyone making under 250k

Or lions, so you zip it too.

RAWR

 

 

Well it IS a long way to go, that's a thousand millions. But it's not so hard to take a mil and turn it into 10 though. I do honestly believe personally though, if I ever reached a hundo........a B wouldn't be a tough stretch. But that's because I know that what I do; once it generates wealth to that magnitude, it's then a collision course, a machine cause it's already set-up to do nothing but keep multiplying.

 

 

Good Luck, even if you just get close, you're doing fine.. Just make sure that's not your ONLY motivation.

 

 

Bro there's some guys on here that make that in a week. And a couple that if you added another zero to that number they'd show you that in a monthly check. Making $100k a year isnt anything to sneeze at, though.... That's GOOD money, man!

 

The issue of growing from there is always a consistent pattern. As far as I've seen, unless you work for a start-up company that ends up becoming a worldwide juggernaught, you have to be in business for yourself. You have to create something that is unique to whats out there, and be the BEST at it. You have to know how to sell-it, market-it and serve-it. You have to know how to grow and develop it. You have to know how to adjust and learn and fight for it when industry issues threaten it. And you have to be willing to yes, put in the time required to get it there and stay there. You may have days, weeks, years of busting your back before you see any tangible success, but you must stay committed to this thing you've started, and you will see your downtime starting to out-weight your ass-busting time.

 

And above all, the ONLY thing that is going to keep you doing all of those things in the midst of uncertainty and risk of complete and total financial, social, personal and familial ruin............You must LOVE what it is. You can never just do it to "get rich" because then "ok maybe not so rich" starts to set in at the slightest hint of adversity. Honestly making "a lot" of money, is a by product of being good and successful in doing what you love to do.

 

Very well said.

While the infatuation of becoming a billionaire on here is a bit annoying I will say that there realistically is a reasonable formula for creating a family fortune that could be in the billions over 2 or 3 generations.

 

I'd say it would be real estate, just buying properties, renting them out and keeping them. Mortgages eventually get paid off and you just rinse, rather, repeat.

 

There are buildings in Manhattan that are owned outright by people you have no clue about (and prefer to keep it that way). Most likely they are families representing the entire portfolio, not single individuals.

 

I know if MJ reads this he will say this is "slow lane" thinking, but the idea here is what to do with reasonable wealth acquired in one's life and find a way to continue growing it in successive generations. I can't think of a better long term vehicle than real estate, especially in big cities.

 

Easier said that done I'm sure, but probably the easiest formula to execute over multiple generations with lowest risk.

 

If humans could live to 200 years old, that would be the formula to being a billionaire. The formula right now is really to be one of the chosen lucky ones.

 

 

The formula right now is really to be one of the chosen lucky ones.

Not really. There's a lot of luck involved in the process of massive success, but once the formula of a huge smash worldwide is figured out; where no one else has pioneered before, isn't hard. Think about it....Twitter, YouTube, Facebook, Google........Done deal, be the only one or be the best by a far margin and make sure any idiot on the planet can use it buy it or utilize it, and you're done...

Good Luck, even if you just get close, you're doing fine.. Just make sure that's not your ONLY motivation.

 

Thanks!

The formula right now is really to be one of the chosen lucky ones.

 

While I get what you are saying, where I disagree is that you seem to view it that reaching billionaire status can only be done via one of two methods:

 

1) Build it up over generations

 

2) Be lucky and score by creating the next Google, Facebook, Microsoft, Amazon, etc...

 

But I think there is a third way. I mean you can do it by building multiple companies over time and making some smart investments with your money as well. A combination of hard work and maybe luck here and there (like if you invest in a startup that takes off big for example). What I have noticed with the guys who do it this way though is that it is something they truly love doing and they are good at it, which is why you see some of them at like sixty-five years-old and still working hard, it's for fun.

Of the factors determining whether you will be an outlier and massively successful on an abnormal scale (billionaire or greater) you will find:

 

Being born into a family of wealth: out of your control

Being born of above average intelligence: out of your control

Being born into a time period of technological advancement: out of your control

Being born into a time period of financial advantage: out of your control

Being granted several critical moments of luck: out of your control

Being motivated to succeed: within your control

 

Most experts agree the world's billionaires require most if not all of the above factors.

Of the factors determining whether you will be an outlier and massively successful on an abnormal scale (billionaire or greater) you will find:

 

Being born into a family of wealth: out of your control

Being born of above average intelligence: out of your control

Being born into a time period of technological advancement: out of your control

Being born into a time period of financial advantage: out of your control

Being granted several critical moments of luck: out of your control

Being motivated to succeed: within your control

 

Most experts agree the world's billionaires require most if not all of the above factors.

 

 

That's exactly how I feel. A lot of it is within your control but just as much of it, if not more, is out of your control. Saying that you are going to start multiple businesses and make them successful and then make some good investments, etc. is kind of like saying that I am going to start driving race cars and eventually I will become like Michael Schumacher, just because he did it so if I do everything exactly as he did it I will have the same outcome. You might know, in theory, exactly what you need to do, and you might even be able to do all those things and still have a less favorable outcome.

 

It makes a lot more sense to set realistic goals for oneself and then try like hell to achieve those goals, working within the constraints that have been imposed upon you by all of those factors that are out of your control.

Anyone ever hear this? The 3 phases of wealth. Wealth takes 3 generations. The first generation, bust his tail to create the foundation. The second, capitalizes on it& the third destroys it.

Personally i am aiming for as much wealth as possible !

 

I am currently still in school studying economics and business but hoping for a future in either private equity or hedge funds. The plan is to get as close to very succesful, intelligent people as possible - working with them(for maybe as little as minimum wage) and then some day creating a fund of my own - thats when enough confidence have been gained . As someone very succesful once said(i cant find the quote)..."The odds of succes are low.. very low.. But higher than ever before!".

 

Ofcourse the dream scenario for many is being able to create something extraordinary like Apple or Microsoft, but as you point out - a lot of factors are out of ones own hands. A lot of my friends are thinking of taking the entrepreneurial route, and aspire of becoming like Webster(graduated from same school) or any other succesful entrepreneur. Maybe one day i will regret not trying the same !

While I get what you are saying, where I disagree is that you seem to view it that reaching billionaire status can only be done via one of two methods:

 

1) Build it up over generations

 

2) Be lucky and score by creating the next Google, Facebook, Microsoft, Amazon, etc...

 

But I think there is a third way. I mean you can do it by building multiple companies over time and making some smart investments with your money as well. A combination of hard work and maybe luck here and there (like if you invest in a startup that takes off big for example). What I have noticed with the guys who do it this way though is that it is something they truly love doing and they are good at it, which is why you see some of them at like sixty-five years-old and still working hard, it's for fun.

 

Wheels, the things you summed up are just text book things but it isn't how it works in the real world. That's just "if it all goes right" and even if it goes as planned it doesn't mean you will be making millions or billions.

 

You make it seem that every WISE investment you'll make will be a good one, do you really believe that's the case? What if you had a lot of money invested in BP and made a good earning through dividends and all of a suddent shit hit the fan and BP get's in financial troubles, the stock plummets... now what?

Thanks for the replies! It just seems like its an uphill battle that will never end...and maybe it wont. Now that I think about it I am in a field that I love. I make good money. I like to think that I have moved up a step higher than my parents were. I grew up in a "dangerous" neighborhood and now I am living in a nice area. There are somethings in my work that are out of my control and limit the amount of money I make, but I guess thats how it is when you are working for someone else.

Now I just have to continue to learn and become the best at what I do

That's exactly how I feel. A lot of it is within your control but just as much of it, if not more, is out of your control. Saying that you are going to start multiple businesses and make them successful and then make some good investments, etc. is kind of like saying that I am going to start driving race cars and eventually I will become like Michael Schumacher, just because he did it so if I do everything exactly as he did it I will have the same outcome. You might know, in theory, exactly what you need to do, and you might even be able to do all those things and still have a less favorable outcome.

 

It makes a lot more sense to set realistic goals for oneself and then try like hell to achieve those goals, working within the constraints that have been imposed upon you by all of those factors that are out of your control.

 

 

 

Wheels, the things you summed up are just text book things but it isn't how it works in the real world. That's just "if it all goes right" and even if it goes as planned it doesn't mean you will be making millions or billions.

 

I agree, but I'll never find out unless I try, so I intend to try.

 

You make it seem that every WISE investment you'll make will be a good one, do you really believe that's the case?

 

Nope, I understand things can go wrong and a certain amount of luck in involved too.

I am not going to get into specific figures as i believe it is tacky but here in my opinion is the bottom line: It is very easy to get caught up with the mighty buck and i have seen a lot of friends become slaves to their work because it is never enough. So the mighty question is, when is it enough?

Once one achieves a level of comfort, and that is when you don't have to sweat the day to day or month to month,take any vacation you want and drive whatever you wish etc, the only thing more money is going to buy you is uber luxuries.

What do these luxuries mean to you and what are you willing to sacrfice to achieve those goals. There is no doubt there is a huge element of luck involved in all big success stories but at the same time , you have to pay your dues and nothing will happen unless you put your time in initially, whatever that may be and it will vary from one person to another.

So, does one need a 30000sq home?, a 200 million $ yacht, a private jet to be happy. My guess is no but to some, the ego is so big that the material possessions are more important than anything else and their self worth seems to be directly related to their possessions.

Are they right? Not up to me to judge, their life and their business, whatever turns then on.

The thing is how many people do you guys know that are loaded to the hilt and absolutely miserable. They have no joy of life and they have no friends, just business acquaintances.

In my opinion, you are rich when you have good relationships, especially family and friends. Having a good laugh with people you like and enjoy is priceless, everything else is secondary.

It makes a lot more sense to set realistic goals for oneself and then try like hell to achieve those goals, working within the constraints that have been imposed upon you by all of those factors that are out of your control.

 

Spot on comment, I see so many people aiming for the stars and never get anywhere because they refuse to do the hard work that's required to take them to the next level, you have to be prepared to sweep the floors to get where you know

 

you will have to get.

 

Porter is 100% correct there are many things that are out of your control, you will require "the spark" and "the spark" you either have it or you don't.

One business idea I have been thinking of is starting a wheel distribution company