Hello, i am a young teen just trying to make a bit of extra money to help me in my future life, i have took on things such as working every saturday at 8am up until 5pm at a small barbers. I train boxing 5 times a week and enjoy fighting however i have come to the realisation that there are much more ways to make money that include using the internet. i have a well running ox and i want to put it into full use however i do not know where to start and what i should work on, has anyone got any ideas? i have around £300-400 to invest.
What is the best way to start making money at a young age?
- Thread starter vreni
- Start date
Ikari Shinji
Junior Member
- Jan 28, 2023
- 150
- 50
The most valuable resource you have at a young age is time.
Get a part time job and work with your parents to open a custodial Roth IRA for yourself.
Max that out twice (2 x $6500 = $13,000) and invest it in the S&P 500.
Assuming average historical returns (10%), that should compound to more than $1.5M by retirement and, because of the Roth IRA, it is all tax free.
Congratulations, you just became a Millionaire from working two summers as a teenager.
Get a part time job and work with your parents to open a custodial Roth IRA for yourself.
Max that out twice (2 x $6500 = $13,000) and invest it in the S&P 500.
Assuming average historical returns (10%), that should compound to more than $1.5M by retirement and, because of the Roth IRA, it is all tax free.
Congratulations, you just became a Millionaire from working two summers as a teenager.
prozacateur
Newbie
- May 22, 2014
- 1
- 2
@Ikari Shinji is right. Learn making more money using money. Learn where & when to spend and make profit. Also learn ways of having passive income.
If I could start over from a young age, I would choose this path. Unfortunately I am an engineer
If I could start over from a young age, I would choose this path. Unfortunately I am an engineer
- Oct 20, 2018
- 5,724
- 3,197
To know the best niche for you, you have to actually explore almost all niches in IM.
You will lose money. And that will somehow be one of your biggest investments in yourself. Can take 6 months, or 1 year or maybe 2 years. But you will figure out what method is worth your time and which of them actually has made you at least $100 in that phase.
Now you may want to focus on that and scale.
You will lose money. And that will somehow be one of your biggest investments in yourself. Can take 6 months, or 1 year or maybe 2 years. But you will figure out what method is worth your time and which of them actually has made you at least $100 in that phase.
Now you may want to focus on that and scale.
- Nov 25, 2017
- 10,608
- 7,146
Save your money and start reading posts in the forum about whatever fits your liking.
Pagary
Banned - Selling via PM
- Feb 13, 2024
- 196
- 66
I started creating forums with xenForo , it was a few years ago , got a lot clients , then I start to learn about programming, now I’m fullstack developer and xenForo specialist.
My point is , choose what makes you happy and also make money with that.
My point is , choose what makes you happy and also make money with that.
bryanstonge
Newbie
- Apr 1, 2024
- 37
- 16
Start with looking into how you can invest your money to make more money. Make the money work for you in other words. Then while doing this, look for niches and digital marketing programs you can run on with minimal expenses. Reading through the forums should give you ideas what you can do and what can work for you.
Everywheree
Newbie
- Apr 1, 2024
- 1
- 0
Hi man, i'm same as you and im happy to read this, if something pop's up m here with you to do the same.. lets do some sparing in the futre :3