Getting lots of money?

Question

I'm only in 7th grade so i got a lot of time to think about this. I want a job thats high paying but doesn't have to always work day and night. (8-10 hour work day nothing more than that maybe a little over will be ok). On average i uselly get straight a's on my report cards (this last quarter i got all a's and one b+). Will matterring what college i go to effect my income (ivey leage colleges like Yale or small colleges)? Also if i get a masters in somthing will that effect my income? I what to get as much money as possible so i have to manage my money wisely. So how do you know if you should get a stock. I'm basically asking how to manage your money wisely. See what i what to have is a big house and enough money that i could go on vacations, buy all the playstations when they come out(i already got the ps3), and go to nice restaruants on a regular basis's. Your probably wondering why a 7th grader is worrying about all this stuff. Well thats just me. Thanks for you replys

Answer 1

OK congrat's if your really a seventh grader smart enough to be thinking like this I am truly impressed.

OK school is great and yes an advanced degree is a route to reach a higher income bracket. I have to ask some basic things first - Do you like working for someone else or would you like to be your own boss some day? Do you want to have to go to an office every day or would you prefer to go someplace different every day? Do you mind working in dirt or would you like to sit behind a desk all day long?

OK I have to say I am biased. I own rental properties and I make a damn good living. I don't have a regular schedule. I come and go as I please and I work for myself. My brother conversly is a patent attorney for a very successful firm in the exact same city.

He where's ties and drives an acura. I where jeans and drive a dodge ram truck. we make about the same - he works 55-60 hours every week. I work 20 hours some weeks and 70 others but I make my own schedule - here's the thing though I do clean toilets and wash floors for a living my brother at age 35 has about $60,000 in school bills left to pay off. I have none.

He would never change places with me and I would never change places with him - but we both love what we do. That's the thing I suppose find something you love - or can at least fae liking and that will make you some cash in the long run -

Oh and I sleep till 9 or 10 every day he gets up at 6:30 to be at work by 8 - I think He is a little envious of that though -

Good luck kid!!

Answer 2

You should really read a book called The Millionaire Next Door.

It studied many real life millionaires and how they got to be that way.

Among the keys were:

1. Get a college degree. The better the education, the higher income you'll make. Master's Degrees are even better and PhDs the best.

2. Live beneath your means. That means buying a Chevy instead of a Lexus, even though you could afford the Lexus, and living in a modest home vs. a luxurious one. Then take all that extra money you are NOT spending and invest it.

3. Start your own business. Most millionaires got there by starting their own businesses and scrimping and working like dogs for the first 5 or 10 years.

Judging from your question, you are more interested in getting a good income and blowing it all, instead of accumulating true wealth. Get rid of that mindset. After you've achieved the wealth, then you get all that stuff and still have a lot of money and financial security.

As for how you invest, if your interest is in long term wealth building, you don't really pick individual stocks. You buy mutual funds that hold many different stocks and bonds. It's called diversification. Real Estate is also part of the diversified investments you make.

If you'd also like to learn basic investing and a lot of good consumer info about how to buy things wisely and avoid getting ripped off, get a copy of Clark Howard's "Get Clark Smart: The Ultimate Guide to Getting Rich from America's Money-Saving Expert."

I've got a blog that discusses personal finance topics. This one post I've linked to below lists all sorts of good advice to live a prosperous life.

Answer 3

you will not find a job that makes lots of money that you will not be working 8-10 hour days. making lots of money takes time. brush up on your literature. read books about stocks, finances, and take test that see what field you would be interested in. its not about money its about doing something you love to do.

Answer 4

You have to start thinking about working online you could find an emlpoyment or start a small business for you online. You can find how to start your business here http://www.mmahh.com
Good Luck