2006-11-04 17:31:51 · 12 answers · asked by Anonymous in Business & Finance ➔ Investing
It's possible, but the probability is near zero or we'd have everyone doing it.
2006-11-05 13:14:21 · answer #1 · answered by Mike S 7 · 0⤊ 0⤋
Yes, it might be possible but it all depends on what you are investing such as cheap properties and fixing them up and reselling them, or if you invest in stock, bonds, and other securities and how much money that you are investing into them. There are a lot of variables that play into how much you gain back on any type of investment. You might want to consult with a financial analyst to see where you should invest your money and how much to invest. However, you should put some money aside in a 401k account at your work if they offer it, because all the money you put in is invested with before-tax money, meaning that you don't pay any taxes at all until you retire, plus it lowers your taxes at the end of the year because you are using pre-tax dollars which will make it like you actually made less money than you actually did because it is in a retirement account. Also before investing you should set aside at least six months worth of living expenses just in case something happens and then you'll have that money to fall back on. Best of luck to you and yours.- James
2006-11-04 17:50:11 · answer #2 · answered by zekemilli4 3 · 0⤊ 0⤋
The Rule 72 says on 5000 at 12% monthly will make you a millionaire in less than 48 months. You would double your money every 6 months.
2006-11-05 00:32:42 · answer #3 · answered by Blanston 2 · 0⤊ 0⤋
I figure it's possible, but to make that amount of money in that relatively short space of time you'd need to invest sh*tloads of money to start off with, and you'd have to be very careful researching those investments.
2006-11-04 20:33:20 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Sure, anything is possible. It would depend on: 1) how much your starting with 2) how knowledgeable you are on the current stock market 3) how lucky you are.
2006-11-04 17:44:14 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I did. I went from completely broke and about $200,000 in debt to millionaire and retired within 3 years at the age of 28. If you are interested in reading about how i did it, please read my free report at http://www.mastersoequity.com
2006-11-04 18:33:09 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Yes.
Search Chad Hurley, Steve Chen, Jawed Karim and Roelof Botha if you want to know more.
2006-11-05 04:09:12 · answer #7 · answered by Anonymous · 0⤊ 1⤋
Sure! if you are smart investor, and start off with a big chunk....
2006-11-04 17:39:14 · answer #8 · answered by silentnonrev 7 · 0⤊ 0⤋
$5,000 a month into a 401(k) might come close.
2006-11-04 17:43:22 · answer #9 · answered by Anonymous · 0⤊ 0⤋
maybe if you had over 500k in liquid assets
2006-11-04 17:39:02 · answer #10 · answered by Nate 2 · 0⤊ 0⤋