2006-12-21 10:06:17 · 10 answers · asked by mozac 2 in Business & Finance ➔ Personal Finance
Getting rich in America 101:
1. Start a business
2. Build it up
3. Sell it
4. Repeat
2006-12-21 10:08:32 · answer #1 · answered by Jolly1 5 · 0⤊ 0⤋
There are many avenues to do this. You can:
A. Start and build your own business.
B. Buy a home, live in it a while, rent it when the rent covers the expenses, and then buy a new one to live in, and then repeat as often as practical.
C. Start early in your career and save at least 10% of your income and invest it.
I'm hoping to get there by age 60 using both B and C. I didn't start either early enough to have $1,000,000 earlier than 60.
2006-12-21 19:48:16 · answer #2 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
Go to med school become a doctor, get into the stock market and within afew years your makin millions or become a pro athlete and it takes 1 maybe 2 years after that
2006-12-21 18:10:20 · answer #3 · answered by topgunpilot22 4 · 0⤊ 0⤋
You can save 2 to 3 million if you save/invest 10% of your income each paycheck starting at age 21 or so and get an average of 10% interest or so. Very rough numbers of course.
2006-12-21 18:08:31 · answer #4 · answered by The Scorpion 6 · 0⤊ 0⤋
Buy a condo that you can rent for less then the morgage...real estate is the way to go. In a couple of years you'll have equity and credit built up to borrow a 100K...a 401k is also a great way to save...tax free.
2006-12-21 18:09:36 · answer #5 · answered by Doctor J. 3 · 0⤊ 0⤋
Find a way to get put on Donald Trump, Bill Gates, Oprah, or any pro athlete's will.
2006-12-21 18:12:14 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Find an under served market
Offer them what they want
Repeat 1 and 2
If you asked the average American how to get rich, they will say
1. sue someone
2. win the lottery
3. inherit it.
2006-12-21 18:09:01 · answer #7 · answered by Chainsaw 6 · 0⤊ 0⤋
Education,stay single,thrifty,and reclusive.
2006-12-21 18:08:09 · answer #8 · answered by Anonymous · 0⤊ 1⤋
what do you need that for ? best things in life are free :)
2006-12-21 19:16:48 · answer #9 · answered by w0nd3ring2 2 · 0⤊ 0⤋
if your a girl: sell the v*gina!
if your a guy: "manage" the girl selling the v*gina!
2006-12-21 18:09:29 · answer #10 · answered by Michael H 3 · 0⤊ 0⤋