I'm only 20 years old but I wanna be rich to the point where I can be able to invest in alot of assets and not be working by the time im 25 years old...I wanna succeed in this and not be just another person whining and complaining about their job and life. So if any successful ones reading this please help me out in starting out to invest cuz i'm so freshmen to dis new thing i'm learning. Thanks in advance!
2007-01-22 12:25:47 · 8 answers · asked by Dexceezy 1 in Business & Finance ➔ Investing
If you have an A type personality, focus on the sale. If you open a small business, the first thing you should be doing is looking for somebody to buy your business for a higher amount. You should be practicing houw to sell anything to anybody. Every millionare and billionare you heard about is just a salesman.
If you have a B type personality, focus on the buy. B types are far to shy to pitch something to somebody. Therefore you have to look in what to buy. One or two years ago this 90 year single woman died in this apartment. She made less than $30,000 a year as a secretary. When did die and people looked into her estate, they were totally shocked she was worth $120 million because she in no way lived that lifestyle. How did she do it? She knew exactly what type of stocks to buy and when to sell. A ypes are willing to sell at a loss in order to quickly move on to the next project. Those losses can be your game. ou buy from a flipper that got burned on real estate and wait for the next housing boom where that same flipper might come back to you and buy that exact same property for a much higher amount.
2007-01-22 17:46:20 · answer #1 · answered by gregory_dittman 7 · 1⤊ 0⤋
Oh brother i feel your pain... i too have read the book, prettty much the whole series, but dont confuse one thing, according to the bank, ur house is an asset in case u go bankrupt, so the book isnt entirly clear on that. Im 17, m , in ny, and i started investing in the stock market, and realized that that is my passion. I have started investing about 3 months ago, but have had a 20 percent return since. If you cant afford real estate, go buy stocks that pay a great dividend, or invest in REIT's. but you are looking to spend over 10,000 in order to get a 285$ check every three months, which isnt all that big. im free to email if u want some advice
2007-01-22 20:55:29 · answer #2 · answered by ImaYam 3 · 0⤊ 0⤋
I have read that book several times and it is great. Be diversified in your investments and look at the histories of what you are investing in. Real Estate is always a good long term investment. Talk to a financial planner to assist you with meeting your goals.
2007-01-22 20:31:46 · answer #3 · answered by homes_az 2 · 0⤊ 0⤋
If you are good with people and want an opportunity to make some money to start investing check out www.wlgdirect.com. It's a financials services company.
2007-01-22 21:37:46 · answer #4 · answered by RichDaddy 2 · 0⤊ 1⤋
I'd have to agree with both Home-az and blue.....
First find out what you are good at, accumulate some assets then diversify
2007-01-22 20:54:15 · answer #5 · answered by k a 2 · 0⤊ 0⤋
i think we all want to be rich. good luck in your pursuit
2007-01-22 20:31:58 · answer #6 · answered by snowman_80 3 · 0⤊ 1⤋
you have to find what you are good at first.
2007-01-22 20:29:02 · answer #7 · answered by bluepuddle 3 · 0⤊ 0⤋
Don't know, but if u find out let me know :-)
2007-01-22 20:29:49 · answer #8 · answered by Nurse KeVo 5 · 0⤊ 2⤋