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First 100k or first 1 million?

Discussion in 'BlackHat Lounge' started by gbmack, May 21, 2010.

  1. gbmack

    gbmack Power Member

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    Just something I had on my mind...

    Is it more difficult hitting your first 100k or 1st million in IM?

    Keep in mind I am taking this from a relative perspective... Whereas it could take someone 1-2 years to make that 100k, but after they finally make it, it may only take them 3-4 months to make their 1st million.

    It's kind of like how people say around BHW that the first $100 day is the hardest, but even harder than your first $1000 day.
     
  2. chocolatemonkey

    chocolatemonkey Junior Member

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    Haha I don't mean to be the bearer of bad news, but do you honestly think people with actual experience with making this type of money will reply to this thread? There are so many high school kids exercising their ego on this forum daily its ridiculous.

    I'd recommend seeking out a real life mentor who has done what you're talking about and asking them. Take them out to lunch, it'll be the best $100 you've ever spent.
     
  3. blowme007

    blowme007 Junior Member

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    Well, ive made 100k over the last few years, dont have any of it left lol. But it is much harder to make it to the million mark for me personally, cause I was a noob and had 1 stream of income, and as it went away, so did my income. But from this point forward, I am working on multiple streams, and the first million should come quicker and easier.
     
  4. trevor1617

    trevor1617 BANNED BANNED

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    How bout first $10.
     
  5. professional20

    professional20 Power Member

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    I doubt it'll be a lot easier. IM changes every day, it's not how it used to be back in the day. Of course though, once you have made 100k from IM, you at least have a very good idea of the whole subject and it shouldn't be impossible at all to reach that first million.
     
  6. Chronos

    Chronos Junior Member

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    Making money is multiplicative and even exponential.

    It's dangerously easy to make more money, when you already have money.


    EX: If Bill Gates just took 1 billion of his dollars and put it in a standard savings account, he could get 2% on that 1 billion. That's 20 million dollars per year with almost no risk (subjective to some).

    You ever heard that term "the poor get poorer and rich get richer?", It's not that the poor are getting poor (statistically, they are actually getting richer in most cases) it's just that the rich are becoming so much richer, stretching apart poor <---> rich like stretching a rubber band. A bigger difference between that 2. Maybe that's a bad analogy, but you should get what I mean.
     
    Last edited: May 21, 2010
  7. gbmack

    gbmack Power Member

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    Yeah that's exactly what I thought. Except for the few rare occasions where things just fuck up.
     
  8. chocolatemonkey

    chocolatemonkey Junior Member

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    The only problem with that example (and I know its just an example) is that inflation is WAY higher than 2% per year, despite what they may lead you to believe. So in actuality, you'd be losing money.

    Anyone that has a million dollars and decides to put it in a savings account probably got their million from an inheritance and is financially illiterate, because that is definitely not a wise investment strategy.
     
  9. professional20

    professional20 Power Member

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    Well you're talking about putting a billion dollars on a savings account.
    He's talking about WORKING on IM..very different IMO
     
  10. Chronos

    Chronos Junior Member

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    Ya, like this guy. He blew threw 400 million in 20 years and is now living paycheck to paycheck.

    [​IMG]
     
  11. professional20

    professional20 Power Member

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    LOL that's what happens when you get too much money. Because yes, there is such a thing as TOO much money if you don't know how to manage it.
     
  12. chocolatemonkey

    chocolatemonkey Junior Member

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    Unfortunately its not rare. Not even close

    $10 is too much money if you don't know how to manage your money. If you're financially illiterate, you're screwed whether you have $10 or $10 million.
     
    Last edited: May 21, 2010
  13. Chronos

    Chronos Junior Member

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    Double post. wtf?
     
    Last edited: May 21, 2010
  14. Chronos

    Chronos Junior Member

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    I would disagree, respectfully of course.

    What I was trying to get at was,


    If you made 1M dollars, one could invest in an internet company, bonds, futures, save for retirement, physical assets (servers, employees, etc). Basically, money is the tool that can make you exponentially more money. In the above example with Bill Gates, I was just stating it's easier for a 'rich' person to break into a multi-million dollars business than an average joe starting at 0$ (Not all the time, but most).


    An IM'er could not do this with 10K. There is just not enough financial resources to trade for other resources.
     
    Last edited: May 21, 2010
  15. chocolatemonkey

    chocolatemonkey Junior Member

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    I'm sorry but this just isn't true. For most, definitely, but definitely not all around the board.

    I HIGHLY recommend you guys take some rich people out to lunch, it'll be one of the best educations you'll ever receive, way better then the bullshit you "learn" in college.
     
  16. SuperBlackHat

    SuperBlackHat Power Member

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    In the case of Mike Tyson, i'm pretty sure he had no one to take him under his wing and school him on investment strategies and making your money work for you even when you no longer can work anymore. He wasn't financially educated unfortunately.

    I think its almost ridiculously impossible for anybody who's had any serious time on this forum or in internet marketing / business building to blow that type of cash if they had it, due to the fact you are already well versed in the art of investment and wealth building.
     
  17. Chronos

    Chronos Junior Member

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    You're right, and in the paragraph above I stated that although it's easier for a person with money to break into a multi-million dollar business than an average joe, it's not an absolute.


    What's wrong with college btw? You know what, nevermind. Less competition for me. The only part I will agree with college degrees, is a liberal arts degree. The individual knows a little bit of everything but specializes in nothing, wtf is that?
     
    Last edited: May 21, 2010
  18. professional20

    professional20 Power Member

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    Alright i get what you are saying now. But of course it'll definitely be easier for bill gates to make another million than any noob on here :p
    With the right amount, you can invite god to your house and he WILL show.
     
  19. biznets2

    biznets2 Regular Member

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    Quite honestly I think you're living in 'Dream world' just how many people do you think actually make money online? most surveys say less than 0.1 %, and how many of those are likely to be making decent money? again it's 0.1 %, This 'aint get rich quick my friend but as they say never ever give up!
     
  20. Chronos

    Chronos Junior Member

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    At least he has the drive to dream big, right? I don't know how many people I know that honestly just don't give a fuck about anything.