How to make money?

intuitivewanderer · 2019-12-11T22:46:50+00:00

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DannyTTT55 · 2019-12-11T23:43:32+00:00

For me in terms of stocks, the two ways I have made money was through 1. Value investing and 2. Social observation (A good book on this is laughing at wall street)

You also need a bit of psychology behind you and notice the common mistakes like selling out too soon from a position doing well, or not cutting your losses/doubling down when things go south

To give an example of the last really good pick I made was a company called After Pay touch in Australia. The way I found out about it was by booking a flight overseas and seeing it as an option to pay (it basically let's you buy now pay later interest free)

Then I remembered people telling me how they would max out their credit cards to travel. This was ridiculous and stupid to me as I would always save for my holiday, but, I remembered a fundamental rule to always bet 9n humanities overall stupidity So I bought the company and it has quatrippled in the last year

sajuck001 · 2019-12-12T01:10:00+00:00

I was in your shoes 10 years ago. Graduated from one of the top colleges (thankfully not stupid enough to saddle myself with debt, but stupid enough to buy into the whole college degree bullshit, pursue something you love crap, and ending up with useless Poli degree). Thought will try law school cause could not make anything else of it, but was burned out from school and dropped it quite soon.

Struggled to find a decent job during the 08 collapse and had no marketable skills.

So I read, a lot, probably like you trying to figure out how to make it too. What opened my eyes were two books, "Rich dad, Poor dad" and "Millionaire Next Door". These books did not tell me how to make money but how to think about money (what a fucking school should have taught me at the very least after eating 80k).

So I found a shitty job and squeezed every penny how ever I could. Living with parents, no traveling, worked overtime when ever I could, etc... My younger brother wanted to try to start investing, so I gave him my savings and told him to go at it (wasn't much 3k at that time). Before I knew it, he was making more money each morning, day trading futures in the 30 opening minutes of the market, before I even got ready to go to my miserable job, after 8 hours of slaving. I asked him to show me how he does it and realized he did not know what he was doing, but he kept saying that we will never learn unless we try.

Our first year we did great by sheer luck (2014 bull market, did not need to know much). Second year we lost all by experimenting and trying new things and strategies. Those lessons cost me about $20k, little by comparison what college ate. But today I can tell you if you are disciplined and able to detach yourself emotionally from money, like to read a lot and have knowledge in any market, investing is easy money. I'm not a millionaire (not yet), but today I own several properties (LA) and see a comfortable middle class retirement in another 10 years without ever having to lift a finger.

Point is, just go out and try to do something, anything that you love and might excel at. You won't know until you try. And if you fail, treat it as a lesson and keep going.

wordsforthewind96 · 2019-12-12T00:08:21+00:00

step 1. cultivate a skill that is valuable and relatively enjoyable to you/your personality, and spend years becoming great at it. become "so good they can't ignore you" (read this book by Cal Newport). Everyone recommends stem nowadays, but this skill can actually be almost anything. Are you a good writer? Write advertising copy, speeches, resumes, business plans. There are people making well over six figures who just specialize in writing emails. Are you a good speaker/people person? Become a salesman. Have a product idea or merch you want to share? Open an eCommerce store. Learn how to market it yourself and you can freelance these marketing skills out to other entrepeneurs if you need extra cash. As you become better at whatever you choose to do, your vocation will become even more enjoyable, creating an unstoppable positive feedback loop, that will compound over time until you are a force of nature.

step 2. buy and hold investing. keep it simple. read about how Warren Buffet picks his stocks. Or if you want to be really passive buy an ETF that tracks the whole market like some of the Vanguard funds

2019-12-11T23:06:38+00:00

Get yourself a good accountant if you want to save money on taxes. Don't not skimp on a good accountant. Always pay them more than they are asking as they will find ways to save you money in the long run. TAX EVASION is illegal. TAX ADVOIDANCE Is not.

2019-12-12T00:56:34+00:00

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me-dgaf · 2019-12-11T22:41:15+00:00

look around who makes $ and how. If you are not up to work for yourself (and most people, frankly, are not cut out for entrepreneurship), look for jobs that pay the most $. Then do that.

Even if you are only average, you will make good $. Don't reinvent the wheel.

intuitivewanderer · 2019-12-12T09:16:48+00:00

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PEDROMADA · 2019-12-14T07:55:06+00:00

amazing!

Title	How to make money?
Author	intuitivewanderer
Upvotes	19
Comments	24
Date	December 11, 2019 10:34 PM UTC (6 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/e9egg9/how_to_make_money/
Archive Link	https://theredarchive.com/r/MGTOW/how-to-make-money.645485 https://theredarchive.com/post/645485

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