Seeking advice on my life plan

[RyanK OnMyWay]

End goal financially: Billionaire

1st Step: Building my current business

2nd Step: Using current business to fund other investments

Very superficial I know. My goal for this is to simply create an overall plan to work towards

What investments would you consider the quickest (not meaning the easiest) way to produce more wealth from your already growing wealth?

I'm trying to get an idea of what my goal for my business should be to be able to start investing in these fastlane investments.

Any help you can offer will be greatly appreciated!

 

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[Fortune5ive]

In my opinion..,the fastest route to becoming a billionaire is to start your own hedge fund. Many of those manager's net worth skyrockets over the years. Lots of risks though.

 

[TonyStark]

 

[MoreVolume]

Im planning to move on to real estate once I generate enough $ with my current business. Im also planning to start a MLM since my product is perfect for it (and I can easily make new versions of it). I haven't thought about reaching billionaire status, but if things go to plan, hopefully what I pass down to my children will put them in position to make it there

As for suggesting investments, real estate is the only thing that comes to mind. We'd have to know more about your background and capabilities to really give you some ideas.

In my opinion..,the fastest route to becoming a billionaire is to start your own hedge fund. Many of those manager's net worth skyrockets over the years. Lots of risks though.

no offense but this post is pointless
i hope i dont need to explain why

 

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[Fortune5ive]

no offense but this post is pointless
i hope i dont need to explain why

It was actually facetious. Hope I don't have to provide proof.

 

[MoreVolume]

It was actually facetious. Hope I don't have to provide proof.

i believe you

 

[100k]

It's a good plan, but you know what they say...

 

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[TonyStark]

I was going to #landfill this, but seeing as OP is a newbie, I let it slide.

Still, I think @RyanK OnMyWay could benefit from a little more research.

 

[TonyStark]

This is one of the more vague threads I've seen, OP is practically asking everyone to give him the exact steps to wealth.

 

[RyanK OnMyWay]

This is one of the more vague threads I've seen, OP is practically asking everyone to give him the exact steps to wealth.

I didn't explain myself too well, I was just looking for different types of investments that I could start to research.

 

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[MJ DeMarco]

I was just looking for different types of investments

For what purpose? So you can learn how to make a few pennies in a year?

Only a self-created business can create billionaires in a few short years. The stock market does not, unless you own the hedge fund.

At this stage of the game, learning investments should be a side hobby, not a focus.

 

[MJ DeMarco]

*UNSCRIPTED* - What's your focus? Making pennies? Or Millions?

 

[JWelch]

To quote a great author,
"Scale makes millionaires, magnitude makes millionaires, scale AND magnitude creates billionaires."
-MJ DeMarco The Millionaire Fastlane

I will tell you something about how learning about the fastlane and contributing to this forum has made a positive change in me. When I read your post and saw that your goal was to be a billionaire I did NOT roll my eyes or snicker or chuckle or any of that. I thought to myself, that's a pretty hefty goal but very possible. You sure as hell can be a billionaire if you really want to. I'd start with MJ's advice and create a company with both scale and magnitude, kick a$$ at it, and see where it takes you.

 

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[lowtek]

All of the self made billionaires that I'm aware of have followed more or less the same path:

They have a vision of how they want the world to be

They sell that vision to thousands of other people who really hard to make that vision a reality

The vision must be grand and massive in scale. It can't be "I want to be the #1 digital marketer in the world" - it has to transcend the individual, because it must conform to the ultimate truth. Which is: nobody cares about you. Or me, or anybody else but themselves and their close circle.

Nobody will work very hard to make you the #1 digital marketer. But... they might just work incredibly hard to make ordering new products as easy as pressing a single button. Or they might work really hard to get everyone to congregate in one digital space that facilitates relationships between distant family members and friends. Or, perhaps, they would work especially hard to bring a connected computer, or mobile device, into every hand and household on Earth. These are visions that give the work purpose that goes beyond making the business owner money. It makes it much easier to swallow the sacrifice it requires to build a billion dollar company to know that you are working on something that will change the world.

So that raises the question.

What is your vision to change the world? How can you improve the lives of tens of millions of people, if not more? If amassing a billionaire empire is truly your goal, then you must answer this question, become obsessed with it, and go forth to sell it to a team of high performers who share your vision.

I should note that very few of the ultra elite self made billionaires started out with wealth as the goal. This is where it sounds like you are coming from: a desire for financial independence. There is nothing wrong with that. There is nothing immoral about the pursuit of wealth by ethical means. But you still must deal with the ultimate truth: nobody cares if you want financial independence. If that's truly what you want, then you don't need billions. You only need a fraction of that to be truly free.

To more directly address the question you asked:

The only investment you need is in whatever is working for you and generating income. If it's something you enjoy enough to do for the next 5 - 10 years, then you can achieve wealth that way without any grandiose plans. Simply take what has worked and scale it until you hit your desired financial goals. It really is that simple. I won't say it's easy, but if you've made $1000 in some business, then you can most likely make a million.

Taking your spoils and putting them into something like real estate, or stocks, is mainly for wealth preservation. It's pretty difficult to build wealth quickly through these channels, without some sort of INSIDERS information to take advantage of arbitrage opportunities in such highly competitive markets. Not impossible, but it's a full time endeavor and means jumping ship from whatever is working now, to something that will take time to work. If you already had a massive nest egg, it's much easier to acquire more wealth through those channels, simply because you can scale. A $1 change in stock price, or even $10 change, doesn't amount to much unless you have thousands or more shares. Same concept with real estate.

 

[4Ring_]

Assuming you're not a professional investor, I would invest into the S&P 500 index and get back to work.


The S&P 500 has returned more than 200 percent since February 2009 alone. A respected barometer of hedge fund performance has generated an annualized gain of roughly 2 percent over the past five years, while charging clients fees that ate into their returns. If you just invested your money into a U.S. stock market index and let it ride, you’d be better off than your average hedge fund. The long game is the best path to making money in the stock market.

A bonus for you, my ambitious friend:

You can do better than the index, though, by building a core position of solid stocks that have great growth potential and will be around after you retire. Good examples include such stocks as Microsoft, Apple, Google, Facebook, Amazon, Tesla, Walmart, Coca-Cola, Visa, Verizon, Chevron, and General Electric. Buy companies that you can understand at a valuation you can tolerate, with good pipelines and economic moat. A great many wonderful investment books have been written by some of Wall Street’s greats that will teach you how to find good companies to buy and what metrics to use when you buy them.

Your work is finished after you’ve purchased a high-quality stock you believe will maintain its competitive advantage indefinitely. There is no need to check on the performance of the stock price daily; quarterly is more than enough on a sound investment.

The key to winning in the stock market is as Buffett said best: “Be greedy when others are fearful and fearful when others are greedy.”

 

[RyanK OnMyWay]

Thank you all for the support!

I will focus on building my business for now then on investing later, was getting ahead of myself

 

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[The Abundant Man]

Billionaires tend to make "life-changing" businesses. I mean Netflix, Uber, Facebook, Apple, Microsoft, Tesla, SpaceX etc.