Discussion in 'Making Money' started by adverts, Feb 11, 2019 at 6:50 PM.
so what the app that used.
what the startup cost?
I appreciate OP's post. Thank you for sharing. And to all the haters why can't we be thankful for the tidbit of information and just say thanks, but this might have been the best place to post it. I for one agree with the op, it's still using the internet to make money, it's not IM though. I would have shared my personal path to success long ago, but I know I would have been treated the same.
If you really want to know how to get rich and stay rich then follow this to your grave:
LIVE BELOW YOUR MEANS AND INVEST THE DIFFERENCE
It doesn't matter if you have $.10 or $100,000,000. If you fail to do this you will end up broke. Look at all the people that have had tons of money and are now broke. Why ? because they failed to do this exercise. Please don't say, that won't happen to me, I'll continue to make money faster than I can spend it. There are very few people in the world this happens to, are you feeling that lucky ? I'm not trying to rant, just trying to help out some of the younger minds realize what it takes to stay wealthy once you get here.
There is no app. There is no startup cost. https://en.wikipedia.org/wiki/FIRE_movement
will invest definitelly
I feel the much more acceptable route is to go with a Roth IRA. You have a max you can invest a year which is under 6k. Doing this for 30 years would guaranteed that you are going to be a millionaire by 50-60.
If it sounds too good to be true, it usually is!
You gave some real advice that works to get passive income, and you got shat on real hard. Sorry about that OP.
My portfolio is the only thing actually getting me passive income at the moment so I'll +1 you. Don't pay attention to the angry ones.
Confuse here so thread starter is doing what?
million ??? kinda more towards investment stuff?
If you're sitting on extra cash you don't need in the immediate future, it's not a bad idea to invest the money for the long term in passively indexed ETFs or mutual funds. Make your money work for you.
I too must share my passive income wealth charts
Thanks for the laugh. I was feeling like that around that time because my returns were basically 0% wondering wtf is going on. You don't see the effects of compounding interest until about 5-7 years in.
Thanks for sharing this, when I'll have the money i will definitely follow this
Another great share about how to gain millions scratching your nose.
It's scary how many people think that simple, standard investing is a "scam". @adverts is absolutely correct. I can think of no other medium that would provide the level of steady passive income potential in the long term than investing in stocks and bonds. Forex is not investing, crypto is not investing, this is real, legitimate investing for the purposes of financial independence.
Those who balk at this concept either did things the wrong way, don't have the capital to do so, have zero financial knowledge, or are incapable of living below their means. Not many are going to reach the levels that OP is likely at, and there are very few members of BHW who will have the capital needed to start at the level OP did, but it doesn't take much money to start making passive income.
BRK.B is a stable enough example. $5,000 invested in Berkshire Hathaway B class stock on 1/1/2000 is worth almost $27,000 now. This isn't some crazy tech stock or weed penny stock.
It's not real estate. It's not domain squatting. It's not an Amazon site. It's not Forex or day trading. It's investing for the purpose of financial independence, is one of the most stable income vehicles, and is no different than a 401k at most American workplaces. The stock market is worth over $30 trillion in the US alone. It's not going anywhere.
And you don't need a quarter million to start. A $5,000 initial investment, with $500 added monthly for ten years, at a 10% average return rate, becomes almost $110,000 at the end of those ten years. Make it 20 years and you're at over $375,000. Compound interest is a beautiful thing.
I came here for the comments!!!! This was hilarious!!!
A little complicated but worth to read and study. Hope to know more explanation of it.
People talk about crypto BS all day long and people up in arms over this. Kinda funny. Long term investing is a safe way to make money in the long haul
Thanks OP. I'll learn more, work harder, and after saving enough money I'll start investing.
I can't give guidance on foreign countries but for the US, I know the tax advantaged vehicles to build your wealth (short of estate planning and the ultrahigh net worth individual loopholes with estates etc.) HSAs, ROTH IRA, tIRA, backdoor ROTH, 401k 457b 403b, 529 plans, all good ways to avoid (NOT evade) or defer taxes.
There's also advantages to incorporating as a pass through entity (especially with the Trump tax cuts of 2018) while reaping the benefits of being to contribute over the 2019 401k limit of $19,000.
Not the type of guy who likes tracing graphs. Nice share from your part.
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