You're given $10,000 and....

[MJ Truth]

You have to grow it into $2 million in 10 years.

How would you go about it? Stocks, bonds, real estate, start your own business?

For whatever strategy you choose: Why? What risks would you take on?

Realistic strategies only. No drugs, etc.

The only way I see turning it into $2 million in that time period is through entrepreneurship. I mean, with real estate and stocks it is possible, but through a small business you'd have more control and a better possibility/probability. $10,000 really ain't shyt though, but I'd go the business route.

 

[MJ Truth]

That's a fair point, but you don't need a lot of money to generate revenue. I was generating revenue immediately, just not the 25k per month they were looking for. I also worked in the auction industry awhile ago and it's not hard to buy things to quickly flip. I used to buy liquidated items and it was pretty easy to make money doing that.

You control your own destiny as a business owner, at least far more so than real estate.

What kind of things were you best at reselling?

 

[无名的]

What kind of things were you best at reselling?

I've sold it all. My first order was 1900 liquidated books for $150 and ended up making around $1,000. I had to quickly learn a lot about logistics after that order. I had a truck drop off pallets to my garage and the cars had to sit outside I had so many books in there. My wife hated me. I shipped off the valuable ones to Amazon FBA and the duplicates + less valuables were sold as a lot via craigslist. The point being everything is a learning experience, even if it's a nightmare.

I eventually had a warehouse and truckloads that came in with probably 24 pallets at a time. I really sold everything... sporting goods, electronics, jewelry, gold/silver, sports memorabilia... we'd order from Groupon and sometimes they'd even ship us sex toys.



I guess I specialized for awhile in WW2 memorabilia and vintage sports cards. I once bought an "error card" that was missing the "a" off the name Pancho Herrera from a local auction for something like $50 and sold it for $1600.

 

[dark_magic]

You have to grow it into $2 million in 10 years.

How would you go about it? Stocks, bonds, real estate, start your own business?

For whatever strategy you choose: Why? What risks would you take on?

Realistic strategies only. No drugs, etc.

Most gains in securities may net between less than 1% to 7% a year to be conservative.

Most of your unsecured debt (credit cards) will be anywhere from 12% up to 30% per year.

In my mind, you should stop the bleeding (from debt) and pay off your high interest debts first through refinancing and payoff strategies.

Second, you are also losing money and potential gains on investment capital by way of taxes on earned income. Taxes are an expense.

Restructure your income and incidences of taxation such that your taxes are reduced and the money saved is invested in other areas such as passive index funds or real estate.

Using strategies such as the above will aide tremendously towards achieving at least $1 million over the course of 10 years.