2006-07-12 05:40:51 · 11 answers · asked by Rolly 2 in Business & Finance ➔ Investing
The quickest way is not always the best way to make money. There are several quick ways to make money but usually it takes money to make that happen. For instance:
Buy a nice piece of property in an area that is booming as far as housing is concerned. It's called a seller's market. Where homes do not last long when they are for sale. Right now housing is slowing down, so it's all about timing. But anyway, you buy this property, build a house and sell it for what you can get. here in Maryland a couple years ago, people were doing what's called "Flipping". (buying a house for $250,000) keeping it one or two months, (then selling it for $350,000). That's how crazy the housing market was here. But now it's slowed down, thanks to the FED government raising the Federal Reserve Rate every month.
The quickest way to make a million is to have a million already, put it on the roulette wheel and give her a spin. You have a 50/50 chance of doubling your money. Are you feeling lucky? Didn't think so, else you wouldn't be asking such a stupid question.
The actual best way to make a million is to invent something that the World needs. Small or large, eatable or usable.
I know in Maryland right now, there are no Krystal Resturants, and no White Castles either. Opening a franchise like that would make a mint! But as I said before, it takes money to make money.
The quickest and easiest way to make the money is to marry into it. You just have to find the woman or man that has it. Then, figure out how to get close enough to them (usually you can't unless you have money already), in order to establish a relationship. Then if you suggest marriage early in the relationship they might feel like you are just doing it for the money! So, well.... there goes that idea doesn't it?
2006-07-12 06:02:23 · answer #1 · answered by almondjoy_1000 3 · 1⤊ 3⤋
Method 1: get a post secondary degree. Medicine is still decent if you can handle the frequent lawsuits. An MBA from harvard is even better. Or become a lawyer and sue every doctor you can find! Total time = 2 to 4 years, and you'll make that in the first year of working.
Method 2: start a business. Doesn't matter what kind of business, but make sure you don't need much startup capital. . Work like a dog for about 5 to 10 years. Then retire.
Both methods above require a lot of hard work, and take anywhere from 5 to 10 years to execute. They work 90% plus of the time though.
2006-07-12 06:10:48 · answer #2 · answered by jrlatmit 3 · 0⤊ 0⤋
Open an account in the commodity and futures market or currency market, and hire me as your POA.
Commodity/futures/currencies market are one of the most liquid and yet very high risky market. With only $4,000 in capital, you are buying an underlying asset for about $60,000 of value on e-mini S&P. Or with the currencies, a required of $3,000 can get you to trade $125K worth of Euro Currency.
And of course, these are very high risks markets. You can get wipe out easily or may incur more loses than your initial capital. But if you know what you are doing, this may be the quickest and best way to build wealth.
But trading is not for everyone.
If you can't take emotional loses, then this is not for you. If this is your last dollars, then it is not for you. If it will cause you headaches, sleep disorders or insomnia, ulcer, heart diseases, and etc, this is definitely for you. If you can't decide or make decisions for yourself, then this is not for you. And ETC...
If you are interested of learning the commodity markets, maybe I can help you for a small compensation.
Email me upblitz@yahoo.com.
2006-07-12 06:27:12 · answer #3 · answered by upblitz 1 · 0⤊ 0⤋
Property speculation. Get a mortgage on a house in an area which is about to move up-market, make a 10% down payment, when the prices move up, sell and repay the mortgage. In the interim you can renovate or let out the property. DYOR always.
2006-07-12 05:48:40 · answer #4 · answered by XT rider 7 · 0⤊ 0⤋
1.Get some hoe$. Buy them nice clothes and shoes. Get you a nice web page and an 800 number to advertise them, and I guarantee they will bring in alotta dough
2. Buy 4 keys of cocaine and youll defiantly turn that money to 1,000,000
Those are the best ways to flip your money if your street smart. lol
2006-07-12 05:46:19 · answer #5 · answered by ms maria 2 · 1⤊ 0⤋
Put it on a 9 to 1 winner
2006-07-12 05:42:13 · answer #6 · answered by havanadig 6 · 1⤊ 0⤋
There may be best ways to make money but quickest way is probably wont bear any results.There is money everywher but not in our own pockets we have to find a way in which you can make others to pay the money in thier hands for what you have to offer when such a situation arrives you will become a billionaire.
2006-07-12 05:53:28 · answer #7 · answered by Anonymous · 0⤊ 0⤋
prolly research companies (using books, credible internet sites, etc.) in preparation fro buying stock. after careful analysis and picking up-and-coming and/or innovative companies(i.e. like Amazon.com was in the past), hold onto the stock as the compounding of the money over time will add up substantially with the stock market's average annual growth rate of 11%. but you gotta monitor the stocks too.
2006-07-12 05:47:04 · answer #8 · answered by Anonymous · 1⤊ 0⤋
Put it in a savings a/c at say 5%pa, make sure you do not pay any tax on it and wait 47 years. If you pay any tax,it will take much longer. Life is tough for the rich,is it not?
2006-07-12 11:59:06 · answer #9 · answered by Anonymous · 1⤊ 0⤋
$100,000
1. $1000,000
2. $1,000,000
2 steps
2006-07-12 06:53:13 · answer #10 · answered by murfeezlaw 4 · 2⤊ 0⤋