Isn't that a good thing? Means OP and others had success using the same methods, which means you and I can have success using those, too.

Strong 1st post. Strong InstaBan.

(why) do you think it's better than khanacademy or codecademy? Haven't had heard of it until now

less babying and it teaches you how to think.

Love listening to advice of people in a better situation. People need to value this - after all it comes from somebody who is succesful and has taken the time to post on the misc. Not many succesful people do this, given time constraints, etc.

Repped!!!

Not so much go with the flow, just put 100% effort into everything, try new things, and focus on being profitable(!) (the key is profit here..) I got a few friends who are on 150-200K a year, but renting a tiny studio flat in mayfair or something and although they are earning like 9K a month, they are spending 7K on rent and bills, then get distracted by city living and end up spunking the rest on clubs, booze, restaurants etc.

I remember seeing a fight mediocrity video on youtube (great channel, think hes a miscer - go check it out) where he talks about 2 people. One man lives in Breadville and his salary is 1M a year and the other lives in like Costa Rica and his Salary is 100K a year. If Breadville's outgoings are 1M a year and the costa rica outgoings are only 1K a year, who is richer? Who has more free time? Who has more options?

What I am saying is, make sure your outgoings are low, low, low. Dont be stupid and finance cars you cant afford, buy clothes you cant afford, go on holidays you cant afford.

IME you will always be able to save harder from working than you will be from investing. So dont worry too much about investing, just focus on making the profit and then investing the profits once you have them.

I moved off affiliates because they require a ton of initial work, and then when google change their patterns and algorhythms you can go from making like 5K a month to 300.

Look into sports betting/matched betting. It's an easy 10K or so you can make with little work. Its kinda time consuming, but its free money and if youre a student it beats working in a bar or something. You essentially sign up to online sports betting sites who offer 500 free bet, and use 500 to say one football team wins, but also bet on the other team too. I cant exactly remember how to do it, i did it like 5-6 years ago but there are lots of tutorials online.
Yeah one of the companies is a digital consultantcy. Does all kinds of digital marketing, web dev/design, app development etc for major international brands. Most of the work is farmed down through top agencies in london/NY and some is direct. Ad industry is meant to be very profitable at the moment.

Having your own company is much better because well im not sure about america, but in the UK you can earn a lot more due to the tax situations.Are they junior doctors though? Maybe its different earnings in america, but the juniors here are getting worked like dogs for the NHS and banks.
For me it was worth while, but it depends what route you want to go. If you want to work online, then yes, its essential imo. If you want to be a welder, or lumberjack -then no.

Wow what sh*( advice. Stopped reading through the first grouping of "financial advice"?

"Don't focus on saving"?

LMFAO

It's so common for people focus on saving where if they put the same effort into increasing their earnings, they'd be better off financially. Why do you think that's stupid advice?

Fighting Mediocrity, dat u brah ?

The poor save. The rich invest.

Goodluck saving away your money in a 2% interest bank, oh and because of the tax on that interest its actually like 0.5% interest.

And as above has said, its better to focus your energy/time on earning more money. Its better to earn 10K a month and save 8K, than earn 1000 and amonth and save 800.

Instead of keeping 50K of mine in the bank, getting ~50 per year, I could buy a flat which will give me ~1666.67 per month profit, as well as capital growth.

Using the previous annual property price increase for london areas, that 200K flat would be worth 400K within 10 years. So from my 50K investment, I would have got 200K on rental profits (by registering your property portfolio as its own company, you can wipe out the profits and buy more rental properties and say that the company isnt generating any profit) and 200K in the capital growth. (Also worth mentioning that this is taking into account the rental price stays the same ratio to the house price was at initial purchase, in reality, it would match the current house price every 2-3 years. This means that towards the end of the period, the tennant would be paying 3333.33 PCM (40K per year) so I'd be getting a 40K return on my 50K initial investment per year.

So
Rental Properties: 50K = 400K after 10 years.
"Saving in bank" : 50k = 500 after 10 years.

Multiply this by 5, = 250K investment and 1M in rental returns for 10 years and 1M in capital growth = 2M

In for more trolling.

The only thing to do is either buy rental properties or put it in a bank. Got it.



LMFAO

Yep, don't worry about the INSANE risks of rental properties.

Age: 24

You're the one who said 'saving', I just mentioned one of the altnernatives that I do to saving thats working for me.

And isnt much risk. I have insurance that covers and eliminates all the risks. Havent had any void periods yet from any of my tenants.

Posts: 33,858

Maybe it's time to go outside?

No offence man, but advice like this makes me cringe. Its too common place and is always about money, involving the usual crapping on the work week. How about some other advice like life advice, people advice, not just money and how you have a yacht and ****

You make some good points OP. Good on you for actually getting yourself out of chitty situation when you realised you were undervalued, most people just whinge about it and do nothing coz they're scared to bet on themselves.


I'm in business school at the moment and will be keeping these points in mind. Have you read Rich Dad Poor Dad? I've noticed several of your points line up with what's written in that book.

Are you illiterate? I said in the OP I wanted other people to share their life advice and said I was going to go through and update it. I am just shedding light on advice for things that I know WORK. My strong points are business/financial, so that is how I am trying to help people.

So many salty people in this thread (srs). I take time out of my day to try and help people better their situations and they snap at me and tell me im full of chit, im just saying what other people have said, im only talking about money.

Where the fuk are your suggestions/tips? How about instead of slamming other people trying to help other people (for free!) you add some sort of insight too? Or have you not got anything worth sharing or learned anything in all your 19 years?No i havent read that book, but heard it's meant to be good. Will look out for it. thanks.

I need to find this youtube video.

lol at all the people slamming op in his thread. Even if he is a fraud, at least he is a good one, and is giving good advice. Hes not a ******* fraud like that snowman guy who said he was making 1mil a year off a few crappy parody twitter accounts that were posting garbage affiliate links that nobody was clicking. I think op is legit, and I dont think someone being disingenuous would go to great lengths to write a ton of fake stories. The thread was a good read and thanks for your time op.

Question for the op. You said you had to cycle through a ton of ideas before you found something that stuck? Did you know the idea you were working on would possibly be the one idea you needed? I have lots of ideas and usually do a good amount of research, but dont end up pulling the trigger. Some just have too many holes that I cant fill and i rather just look for a better idea than actually going all in. I guess I just need to come up with a mvp and see what peoples responses are before scrapping something.

I recently started a little side project and what I expected to happen was the complete opposite of what actually happened. I took a cooler full of a few drinks to the skatepark I was riding my bike at after I got a little credit card reader and a for sale sign so I could sell them. I thought i would sell a few drinks and I would end up using the card reader. I ended up carrying the cooler in to the park and right away before I could even say i was selling them i made two sales. Ended up selling out in 30 minutes. I ended up getting a bigger cooler and started selling 80%-100% of the drinks and was not expecting that either. Nobody used the card reader. Also ended up having kids ask me if I had any snacks and started bringing beef jerky that they are buying. Now they are requesting energy drinks. I dont even have to use the for sale sign i bought either. I can just ride my bike and people will bring dollar bills up to me and they grab what they want out of the cooler. I came in expecting one thing and ended up getting a way different result. The money i make is laughable, but I dont put any effort into it, and im having fun.

I started another business about a year ago, and I got everything set up, and as soon as I tried getting the last part set up which relied on other people I fell flat on my face. I thought it was going to work out. I think the idea still has potential though, and now im re visiting it but im using a different angle to launch this time.

Basically what im asking is how do you know you have the right idea? Do you just keep testing the same idea multiple times if possible or test tons of ideas?

I barely understand what you me saying. Is there a book or something I can read to understand this?

incase link doesnt work:https://www.youtube.com/watch?v=j3TeLsaKzAMthanks for the kind words.

If you can make money (any money) with little effort,time and you are having fun - thats an ideal situation isnt it? Great job. Jordan Belfort from wolf of wall street when he was a kid used to go down to the beach with a coolbox and sell bottles of water, ice cream etc and then employed all his friends to come and work for him. It's quite interesting. I'd be super proud of my kids if they were hustling like that, at that age.

My business that I make the most on I did not expect to see the money coming in from the areas it did. I went out expecting my demographic to be 1 group of people and the group of people I was aiming it at were rude, obnoxious, ungrateful, wouldnt value my time - the another demographic, which I 100% wasnt expecting became my key demographic. Within like 1 week my entire business model had to change - it did and for the better.

What I do with businesses now, I dont bother making it PERFECT before release, I will release it how it is and then trial it all, if something is working well I will bend my model to fit that. If it isnt working well - then I stop doing that. You cant expect to do the same thing over and over again and expect a different result - thats the definition of insanity. You have to find what the demand is, what people want, what people need, what will make peoples lives easier and then find a solution/service for that.

Another thing I learned at a young age was if you're not sure what price to charge, ask the client what they think its worth to them, or what theyre willing to pay.

When selling drinks to people at skatepark, if they come up and say "hey man how much for a drink" just say "what do you think it's worth". You maybe selling at $1 a bottle, but i'll bet that some will give you $2-5. maybe you can do offers too, like 1 bottle for $3 or 2 bottles for $5. It sounds like having a food van or pizza van in that area would be seriously profitable.

good advice ty men.