One elderly man once told me, two things you can get rich, real estate and stocks, true?

grubek · 2016-07-03T09:37:59+00:00

It is a stupid question because it depends on the person.

For some people a high stress long hours highly paid job is success. For others being your own boss, deciding your schedule and planning your shit is success. For others being in a creative job surrounded of creative people is success.

And as you can see all those options are not compatible. The corporate world offers you security but imposes long hours and almost a lifestyle where your job will mold and define a big part of you. Entrepeneurship can be very rewarding if you make it but it comes with higher uncertainty.

You have to decide what style of life you want and what personality traits you have. You do not mind working long hours but handle uncertainty badly? (more people than they will admit are on this group) you will have the best life in the corporate world. You get anxious and depressed when you are too caged and your path is well defined? Then try different options, but be sure you can deal with the uncertainty and the possibility that you actually never make it. You see the point.

In particular with the stock market, it has its perks like a liberal schedule and kind of being your own boss, plus the possibility of making real money. That said, it has its cons, most important being that most people do not make money they actually lose it. There is a number going around saying that 96% of traders, including proffesional ones, actually lose money, but I am not sure how accurate it is. But what you have to think is that for every person you hear making absurd amounts of money there are a bunch that lost it. Most people are on the second group. Then there is the stress, the feeling of having lost a shit ton of money one day, etc... It is not for everybody even if you manage to make money. That said, if you manage it is a great way to finance whatever lifestyle you want.

Leviticus59 · 2016-07-03T12:53:29+00:00

Real estate CAN make you a lot of money, but it depends on your aptitude, motivation, vision, whether you actually like it or not, which part of real estate you go into, and a host of other factors. It sort of sounds like you're looking a get-rich-quick path, and generally speaking, there is no such thing. I'm not attempting to dissuade you from going into real estate, but spending three months getting a realtor licence is scarcely scratching the surface of an enormous area known as "real estate."

You young guys contemplating career paths: I strongly recommend the book Think and Grow Rich. Yes, it's dated, but the principles are timeless and human nature never changes. If you read between the lines it drips red pill. Any career or endeavor can be alpha if approached and executed using the principles in the book. Also get a copy of The Slight Edge. It's more of the same, coming from a different viewpoint.

corsega · 2016-07-03T13:45:30+00:00

Elderly man doesn't even good sentence structure know, why him to listen?

dabrah1 · 2016-07-03T14:02:30+00:00

I mean yea hes technically right, but you need to get way more specific. With real estate- Is he talking about becoming an agent, buying and holding properties, flipping, commercial, etc? I do buy and hold investing and its very profitable if you know what your doing. Check out biggerpockets.com if your interested in RE. Great, free info there.

nofapnomoreplease · 2016-07-03T16:53:40+00:00

Real estate and stocks. Two forms of SPECULATION.

Of course an old man told you this. In his day they were both easy ways to make money. Now they are both risky ways to make money.

Although real estate still has a good side...

Vajesticles · 2016-07-03T07:02:32+00:00

I would like to hear from some experienced people in these fields as well.

TheThingsIThink · 2016-07-03T08:12:11+00:00

Commission on life insurance is about 125% of the annual premium, spread out over 2 years depending on your firm.

Getting some one into an IRA or into indexes is about 2.5%. If you have a client that you sign up for a 100 a month life insurance policy your making 1250 over two years. If you get them to invest a hundred a month then you earn the 1250 in a little over 9.5 years. Higher production can get you really good bonuses. You need momentum to build up your clients base and referrals.

Kose2kose · 2016-07-03T09:41:41+00:00

That's how rich piana did it. Lol

Comments