User Power
Value/Post Ratio
11%
- Aug 31, 2007
- 151
- 17
This is a personal goal I've had, truly, since I began learning about investing back when I was 14 years old. Since then, I've invested in the stock market, ran my own business, and learned/read a LOT! Truly, I don't think this goal is out of my reach, but we'll see where I land in a little over a year (when I turn 18).
In all honesty, the biggest problem I think I'll have with this is simply not being 18 while I'm trying to do it. And even then, it's just because I can't sign contracts, start my own business, etc.
I know this may sound unrealistic, but they always say to think big, right? I know I can do it; and if I can become a millionaire, in my teens, I'm sure that any of you, who really want to become wealthy, can as well. Just gotta pull the trigger, go out and do something! It's the fastest way to learn
The Plan
In case you were wondering:
1. Stock Market
I have 2 years of experience in the stock market already, and am pretty comfortable with deciding which direction a stock will go, soon. With this knowledge, I could gain pleasant returns (10%+ per month). But, instead, I think I will take this and deal with options, assuming I can get an options account *crosses fingers* I only wish to do this because if I can do it correctly, a 5% shift in a stock can mean an option goes up 100% or more. We'll see how that goes.
2. Business
I have had an online business (technically) for a few months now, working as an affiliate, selling different things. It's been pretty easy money, but I'm looking to see if I can get a company to manage my PPC campaigns, so I don't have to myself. And, if I can, I may have someone redo my site for more SEO, and some other things to increase the amount of money I get out of it. If all goes well, I can get many thousands more out of this thing, with no more work on my part
3. Real Estate?
If I can get into it, perhaps with a family member, I would really enjoy investing in real estate. I'm sure that it would help me get to the $1mm mark much faster as well, but I don't know if I'll be able to do much with it before I turn 18. As such, I don't exactly have anything set up that I can say I would specifically do with it at the moment.
Because I don't have very much money at the moment (about $3,000 sitting in the bank), I'll likely have to start out with either the stock market, or my business, as they both would require a decent amount of my capital to operate, but once I get some more, I'm sure I could do both at the same time, making money more efficiently. And, eventually, hit the $1mm. But before I can plot a specific time line of events, I need to see what returns I'll actually be getting... so I'll try to update this post soon when I know more exact numbers, and can estimate where I'll be during the months to come.
What do you think, can it be done?
In all honesty, the biggest problem I think I'll have with this is simply not being 18 while I'm trying to do it. And even then, it's just because I can't sign contracts, start my own business, etc.
I know this may sound unrealistic, but they always say to think big, right? I know I can do it; and if I can become a millionaire, in my teens, I'm sure that any of you, who really want to become wealthy, can as well. Just gotta pull the trigger, go out and do something! It's the fastest way to learn
The Plan
In case you were wondering:
1. Stock Market
I have 2 years of experience in the stock market already, and am pretty comfortable with deciding which direction a stock will go, soon. With this knowledge, I could gain pleasant returns (10%+ per month). But, instead, I think I will take this and deal with options, assuming I can get an options account *crosses fingers* I only wish to do this because if I can do it correctly, a 5% shift in a stock can mean an option goes up 100% or more. We'll see how that goes.
2. Business
I have had an online business (technically) for a few months now, working as an affiliate, selling different things. It's been pretty easy money, but I'm looking to see if I can get a company to manage my PPC campaigns, so I don't have to myself. And, if I can, I may have someone redo my site for more SEO, and some other things to increase the amount of money I get out of it. If all goes well, I can get many thousands more out of this thing, with no more work on my part
3. Real Estate?
If I can get into it, perhaps with a family member, I would really enjoy investing in real estate. I'm sure that it would help me get to the $1mm mark much faster as well, but I don't know if I'll be able to do much with it before I turn 18. As such, I don't exactly have anything set up that I can say I would specifically do with it at the moment.
Because I don't have very much money at the moment (about $3,000 sitting in the bank), I'll likely have to start out with either the stock market, or my business, as they both would require a decent amount of my capital to operate, but once I get some more, I'm sure I could do both at the same time, making money more efficiently. And, eventually, hit the $1mm. But before I can plot a specific time line of events, I need to see what returns I'll actually be getting... so I'll try to update this post soon when I know more exact numbers, and can estimate where I'll be during the months to come.
What do you think, can it be done?
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