Hey everyone i have a quesiton. i'm 19yrs old. i'm starting to save bout 150 a month towards my savings. Any idea since that i am young how i can start becoming rich at a young age. and please dnt give me that when a lottery crap thing. Thanks!
2006-10-19 21:56:02 · 8 answers · asked by Sam A 2 in Business & Finance ➔ Careers & Employment
in the uk lottery the odds of winning the lottery are reportedly fourteen million to one,but hey someone has to win it.
if you have a steady income, and no commitments you are in an ideal situation to save and get on the property ladder this is a good bet since property can be sold or rented out. thus adding to your nest egg if you rent out whilst still paying the mortgage, the property can be bought with someone elses money. but beware it comes with challenges that need careful consideration. and remember theres no such thing as a free lunch. LF
2006-10-19 22:11:42 · answer #1 · answered by lefang 5 · 0⤊ 0⤋
Compound interest will take care of making you rich at an early age if you invest for growth (high risk) over a long period of time and continue to add to it. $150 a month is a great start. Continue to keep that discipline to save off the top and by age 35, 40, 45, and even 50 that money will have grown and compounded. Don't stop. Raise that $150 to $200 to $220 to whatever you can. Keep your spending low so your savings can be high. Don't lose sight of the end result... wealth. Too many young people get into the credit card trap and buying frenzies for things they want but really don't need. Don't be one of them. Congratulations on being determined. Only with a plan can you possibly achieve what you are going for.
2006-10-19 22:44:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Congratulations on taking actions, settings goals and start planning for future!!!
But make a note of the follow:
- No one became reach by saving!!!
- Nor by giving it to the bank!!!
Try to build your own business and invest as much as you can. Most of reach peopel get reach by investing in property.
Chose the industry that is just emerging and growing big.
Online social networks, streamed video, commication are growing beyond imagination today!!!
Video E-mail is set to be the biggest must have since the mobile phone, with the market forcast to be worth 12 billion by 2008. You might want to investigate these fields.
2006-10-19 22:18:43 · answer #3 · answered by Lesia 2 · 0⤊ 0⤋
Save 10% regularly
Accumulate
Invest
Reap the harvest
analyst
Earn $5 on registration
http://www.inboxdollars.com/?r-mogili
http://moneytipz.blogspot.com
2006-10-19 22:28:20 · answer #4 · answered by Anonymous · 0⤊ 0⤋
if ur too smart and thinking about ur self it is so easy to tell everyone may be there are some person who does not work proper and does not know about the work he apply same thing in his carreier but so plz look forward not behind what the people is saying.u can do it if ur crazy be positive do not think about the negetive points every person has a own quality show them, u are superior to all.if u apply this things no one can stop ur way.
2006-10-19 22:58:17 · answer #5 · answered by manoj u 1 · 0⤊ 0⤋
Hi, congratulations on your good attitude and on a good start. I can help you if you are eager, ambitious and motivated to reach your goals at an early age and I also have a success story to tell you about a young man who succeeded and I can even have him call you as this is not a made-up story. If you are interested, I can help you reach your goals if you email me at rpelley5@yahoo.com. Looking forward to telling you that story.
2006-10-20 01:28:06 · answer #6 · answered by Anonymous · 0⤊ 0⤋
1. Be a actor/movie star
2. Professional Athlete
3. Some education, be smart and advance fast
4. Stocks if you know what you are doing but risky
2006-10-19 22:06:16 · answer #7 · answered by Skys 3 · 0⤊ 0⤋
SAVE YOUR MONEY AND GIVE IT TO THE BANK
2006-10-19 22:05:22 · answer #8 · answered by Anonymous · 0⤊ 0⤋