I'm going to get a job that pays $180,000 a year for up to 3 years. I want the money to make more money while I'm working that job through stock markets.
I want to take the money I earned and quit the job and with that capital I want to start my own small business. I want to open up an auto repair shop. A nice one that also does more stuff than repair cars. I don't want to blurt out my exact business plan since it's my own idea.
I then want to have the money to build my dream house which should cost around $500,000
Can I do this? Is this possible? Do I need a financial consultant? Stock Broker? A good lawyer? What do I need to do? What should I watch out for?
2007-07-21 18:32:12 · 6 answers · asked by ev1go 2 in Business & Finance ➔ Investing
Look for a business coach, but you want one with experience in what you're seeking to do. Check with your local chamber of commerce or the Small Business Administration to find one. For investing your money now, look for a financial consultant that makes a flat fee, not a broker who only makes money when you buy and sell stocks. Good for you, you're ambitious! That's great.
2007-07-21 22:36:22 · answer #1 · answered by Katherine W 7 · 1⤊ 0⤋
Yes, you can do this is you pretend your salary is minimum wage and you spend only enough money to survive and save the rest.
Yes, you do need a Financial Consultant.
I suggest you to open a brokerage account at Zecco.
You don't need a good Lawyer.
I could email you more detailed FREE Financial Advice.
I am a Portfolio Manager with over a decade of experience in the Stock Markets.
2007-07-22 13:51:03 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Considering that you're talking about $540,000 ($180,000 x 3), you're looking at financing something. The best bet is to finance your home, not your business. Businesses are only worth what they generate; homes appreciate according to the market. Pay cash for the business.
2007-07-22 02:37:46 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Check out Capital Choice they offer a different type if financing. Their may be some other things in their that you might find interesting that could help you start your business and secure it as well. Good Luck..
2007-07-22 17:21:32 · answer #4 · answered by Leslie 1 · 0⤊ 0⤋
i think you need luck in stock market more than anything else
or go for mutual funds etc for safer bets
and i wanted to talk to you about your move to sweden
i saw that in your other question
i tried to drop an email but you are not allowing it
is there any other way ?
2007-07-22 12:42:59 · answer #5 · answered by Anonymous · 0⤊ 0⤋
sounds like you need an investment counselor, with a tax consultant.
2007-07-22 01:36:54 · answer #6 · answered by Mike Frisbee 6 · 0⤊ 0⤋