Ways to make a solid income?

GarbageAccount115 · 2019-09-20T20:30:25+00:00

Learning how to invest wisely will help a great deal.

801735 · 2019-09-20T20:45:06+00:00

There's only one way. Do the work.

Krazyrobus · 2019-09-20T20:34:43+00:00

There is no "general" way.

herpiornah · 2019-09-20T21:47:24+00:00

Build up your technical background with experience and knowledge on a few commercial technical projects, then transit over to a consultant role or sales engineer.

2ravens · 2019-09-20T23:52:19+00:00

IT is good. Lots of remote opportunities and the more you specialize the less females do those jobs.

SomeGhostingGuy · 2019-09-21T07:15:08+00:00

Well, being with the same company since 1995 and only with the company owner above me I know some numbers.

If you want to be good at sales and want to make a lot of money you have to put in a lot of hours. And in sales you will get a very low fixed amount of income with bonus for stuff sold.

While it sounds nice to make some k a month net starting in sales, when you divide by hours you are not really making more per hour than an engineer.

I always calculate "net" because that is the money left after paying of the leeches you can really work with.

Also I calculate "by the hour" because the most valuable currency in life is "time", money can be made up by the billions by bankers pushing some buttons. Time is pretty much a constant.

And sales also means working days on a project, planning, meetings, traveling .. and in the end your competitor gets the deal because his offer is 1% cheaper and the customer only looks at the number at the right bottom corner at the last page of the offer.

Or the customer falls to the oldest trick in the book, incomplete offers by the competition. You have 10miles of expensive cabling in your offer, the competition offers the same system without any cabling or if they are tricky only offer "one meter of .. cable for xx$ " to be installed in measures necessary.

And always remember, you can bring the horses to the water, but they have to drink themselves.

This means basically:

You can be a godlike sales person, if the customers are scared of buying you will not sell much.

Or you can be a retard that has no idea if he should turn left or right when leaving the company in the morning: when the customers are eager to buy they will even buy from you.

The only sales people that make a kinda constant income trough all the times, the good and the bad, are those that are really devoted to making their customers happy by providing excellent service. Which takes a ton of time and in the end, divided by hours, there is not much more left than a good engineer makes.

Or you can be a scam artist, jumping from company to company every few years, trying to get an area tended good by the (likely retired) guy that was there before you and grab the incoming orders by still trusting customers while investing minimal effort yourselves. And leave for greener meadows when the area, the companies name and your name are "burnt"

We have seen that too, fell for it, but developed some sense to smell them out.

TL;DR:

If you are a good engineer, stick to engineering, sales are for extroverts and people with, let me say: diminished consciousness.

bamabeatsny · 2019-09-20T23:09:01+00:00

Work your job. Be the best you can in your field.

Take up a side gig to make extra money. Is there something in your engineering field that you can parley into a side business? In that, you can be your own boss. Maybe it morphs into a full time thing.

v4vern · 2019-09-20T20:42:24+00:00

Look into investing, especially in the futures market.

But you will need to put at least a year into this before you can actually turn in profits. Of course, you can profit as a novice. However, the proper way is to understand the game and to be consistent with a proper risk management plan.

herpiornah · 2019-09-20T21:02:36+00:00

Honestly if you have a niche, try YouTube as a side income or a hobby atleast. Other good ways of making money depend on your locality and country, for me owning and renting property is a good way. Look if you really want big money you'll have to take risks, and be extremely energetic, and opportunistic, you'll find that in your endeavour for big money you'll lose and gain some qualities. You'll learn shrewdness, greed, apathy, manipulation, cruelty, harshness, anxiety and agitation, atleast initially. If you are ready to gain such qualities then as soon as possible start a business of your liking.

Throwaway33060 · 2019-09-20T21:28:20+00:00

Sales

atheos42 · 2019-09-21T07:44:22+00:00

“If you don't find a way to make money while you sleep, you will work until you die.” - Warren Buffett

Learn about investing. Live well below your means and invest the rest. If you don't have a Vanguard account, get one. If you don't have a Roth IRA, get one.

If you don't have a 401k, and your employer offers one, get one. Invest your money in very low expense ratio Index funds like VTI.

There should be three stages to investing.

Stage 1) Get out of debt stage, pay off all debts, not including mortgage.

Stage 2) Wealth building stage, start investing at least 20% of your income into a 401k and Roth IRA.

Stage 3) Wealth Maintaining stage, you now have wealth and nearing retirement. Your portfolio needs to reflect proper investments to balance stock market swings.

If you want a guide to building wealth and retiring early, then here you go:

Pay off all debts, not including a mortgage.
Build emergency fund, at least 3 - 6 months of living expenses, in your account at a local credit union.
Contribute at least 10% of your income to an employer sponsored 401k, have it invested in an index fund like VOO.
Open up a Roth IRA with Vanguard, max contribute 6k to that Roth every year and have it invested in an index fund like VOO.
Live well below your means. This means, if you can devote 30% of your income to investments, then do it. If you can do 40% then do 40%.
After you have paid your living expenses every-month, Invest any extra into a Vanguard taxable account that has VIG, VYM, and VNQ ETFs. More focus to VYM and VNQ.
If you leave an employer, don't leave your 401k money with that employer program, Roll it over into a Roll-Over IRA with Vanguard, again VOO.

This is just a basic guide, and some people don't like step 6, which is fine, you don't have to do step 6. I created step 6 to introduce people to the idea of building a passive income. Feel free to alter this guide to suit your needs. As you age, I expect your investment strategy to change as you build on your knowledge and experience.

roxon89 · 2019-09-20T22:24:49+00:00

Work for yourself.

caem123 · 2019-09-21T00:14:24+00:00

Learn from others with solid income, not random strangers: https://youtu.be/FlNiexZ7d3k

Title	Ways to make a solid income?
Author	herpiornah
Upvotes	15
Comments	34
Date	September 20, 2019 8:28 PM UTC (6 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/d70nq7/ways_to_make_a_solid_income/
Archive Link	https://theredarchive.com/r/MGTOW/ways-to-make-a-solid-income.400215 https://theredarchive.com/post/400215

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