I literally think becoming a self made millionaire is impossible

[BrothaZay]

IT IS SIMPLE .. EVERY1 IS JUS DUMB AS FUCC AND OVERCOMPLEXIFY SHIIT IN THEIR HEAD. NO ONE HAS THE COURAGE AND MOTIVATION TO SET A PLAN AND FOLLOW THROUGH.

Ok so how do you open up a weed dispensary?

 

[Sccit]

Ok so how do you open up a weed dispensary?

GET THE PROPER LICENSING, GET THE PROPER KNOWLEDGE ON HOW TO GROW, RENT OUT A GOOD SPOT, ADVERTISE WITH PURPOSE=MONEY GROWS ON TREES.... BEIN A MILLIONAIRE IS A MINDSET FAM, NOT A TASK.

 

[True Blue Moon]

The key is to have passive income and invest. No rich person gets by on just wages but rather EARNINGS.

Thank you. To even think of elevating to that level you gotta get out of the wage earner mindset.

 

[BrothaZay]

Thank you. To even think of elevating to that level you gotta get out of the wage earner mindset.

Its hard to make even $100 a week off passive income. Let alone $20,000

 

[newworldafro]

I make upwards of 1.2mill/year (give or take) playing poker.

It's not impossible but it takes time and effort to work your way up. If you think you're working hard, you're not.

How many hours a year or month average do you play to get that amount? What did you for to school for?

 

[Goat poster]

GET THE PROPER LICENSING, GET THE PROPER KNOWLEDGE ON HOW TO GROW, RENT OUT A GOOD SPOT, ADVERTISE WITH PURPOSE=MONEY GROWS ON TREES.... BEIN A MILLIONAIRE IS A MINDSET FAM, NOT A TASK.

So why haven't you already done this?

 

[LV Koopa]

Most people get content. Opening a barbershop can cost $10-20,000 total depending how nice you want it. Less if you have less chairs and dont have TVs, PS4s etc to keep waiting people occupied.

But lets say a barbershop generated you $30-40,000 profit a year. Most people just get content with that.. But what if they opened another one in the next city over? Then the next city over? Now you have 3 barbershops making you that - why stop at 3 ? .. Even if they are making you less money, its generating you money. Most people dont make moves like that though. People stop flipping they money once they get content where they are at. The millionaires are hungry like you never seen and thats why they are rare. They never stop flipping/grinding/hustling..

Every millionaire I know has multiple revenue streams. Even if its the same kind of business just multiplied (like owning multiple of the same fast food restaurant but in other cities). or multiple businesses (a barbershop, a shoe store, a bar, etc)

Or you got the people who make $60-70,000 a year salary job but get good at investing in stock. The people who bought Netflix or Tesla when those stocks were low made a killin.. imagine buying 2000 stocks of Tesla at $10 a piece and now its $250 a stock..

its possible but very rare to be a self made millionaire. very rare.

I see what you're trying to say but I wanna clear up a misconception. Regular people like us rarely get the chance to do this even if we are lucky enough to know about Tesla or Netflix. By the time we usually hear about them they are already on the way to an IPO and funded by millions of dollars.

The real issue is that "we" don't get first dibs. The stocks we usually get are on the secondary market through brokers.Big banks, companies, and super rich investors get exclusive rights to trade on the primary market when a stock first enters the market. Even if you knew Netflix would be big and could be had for $10 you wouldn't get a shot at buying it until the others have their chance.

 

[Reginald Noble]

I see what you're trying to say but I wanna clear up a misconception. Regular people like us rarely get the chance to do this even if we are lucky enough to know about Tesla or Netflix. By the time we usually hear about them they are already on the way to an IPO and funded by millions of dollars.

The real issue is that "we" don't get first dibs. The stocks we usually get are on the secondary market through brokers.Big banks, companies, and super rich investors get exclusive rights to trade on the primary market when a stock first enters the market. Even if you knew Netflix would be big and could be had for $10 you wouldn't get a shot at buying it until the others have their chance.

Very true. Which is why I highly advise brothers to get into Tech more so they can be in the know. Web engineering, Software Dev, anything tech related.

 

[mortuus est]

clown



Thinking you can save your way into millions Clown



This is fine and all but some of us trying to ball boss or not



Audit > Tax if you looking for advice

u dont save to have a million, u save the money to do something useful with it, clown.

 

[LV Koopa]

Very true. Which is why I highly advise brothers to get into Tech more so they can be in the know. Web engineering, Software Dev, anything tech related.

This new generation coming up - every kid should learn how to program by the time they hit high school. Even the simplest of languages helps a ton.

 

[BLAZO da GAWD]

My college roommate had a brother who graduated 5 years before us. He worked as a engineer designing computer chips for a year and a half. Then he said, "fukk it, I can do this better than them." He started his own company and ran it for just over three years. At that point he sold the company to one of the major chip manufacturers for $150 million.

That's $150 million just 5 years out of college on a company you started yourself with almost no experience.


He worked for them for something like 2 years (a contract stipulated in the sale), then left and started his own company again.

I ain't about chasing money at all, but some people are good at it.

Name of the company?

 

[Geek Nasty]

Unless youre getting in with a company before they go public and BLOW UP, you've got to go into business yourself to make that kind of money. I used to work with a guy who did it, but he made some bad business decisions on top of that. He was pulling about $1.5M before expenses. so I bet he still was clearing 1/2 a millie a year.

You can luck up with some business idea or computer app and get PAID. The dude who wrote that dumbass fart app for iphones cleared a couple mill.

 

[itsyoung!!]

I see what you're trying to say but I wanna clear up a misconception. Regular people like us rarely get the chance to do this even if we are lucky enough to know about Tesla or Netflix. By the time we usually hear about them they are already on the way to an IPO and funded by millions of dollars.

The real issue is that "we" don't get first dibs. The stocks we usually get are on the secondary market through brokers.Big banks, companies, and super rich investors get exclusive rights to trade on the primary market when a stock first enters the market. Even if you knew Netflix would be big and could be had for $10 you wouldn't get a shot at buying it until the others have their chance.

Agree and disagree. When weight watchers was $8 a share for this entire year they announced Oprah was thinking of buying part of the company regular people had about a day before it spiked up to $75 a share

We have the opportunity but it is probably easier if you are "in the know"

When they first open to the public yeah its harder but when they have bad public reception like a few years ago netflix said they were raising their monthly pricing. Those are the times me and you should be buying

 

[BLAZO da GAWD]

I'm in construction now. Only way to become a millionaire in this business is to be the president/founder of the actual general contracting or subcontracting company. I wish I could make shyt like microchips or whatever and sell them shyts. Next best option is for me to get into real estate. I'm looking to purchase a property or two next year in a college town and eat off of the renters. Best shot I got.

Took this guy only 5 years to acquire 16 rental properties:

How Much Money can you Make from Rental Properties? - Invest Four More

He profits $60k a year in rental money alone. The values of his properties have also increased since he bought them if he ever decided to sell. Real estate is the easiest way for the middle class to acquire wealth.

 

[LV Koopa]

Agree and disagree. When weight watchers was $8 a share for this entire year they announced Oprah was thinking of buying part of the company regular people had about a day before it spiked up to $75 a share

We have the opportunity but it is probably easier if you are "in the know"

When they first open to the public yeah its harder but when they have bad public reception like a few years ago netflix said they were raising their monthly pricing. Those are the times me and you should be buying

Weight Watchers is a known company but yea, that's an opportunity people should have thought about. Thing is no one should go into the stock market tinking they can just get rich trading stocks. It doesn't work that way for majority of people. You really have to learn how the market works and how companies are valued before you even get into the "irrational" side of things.