9th September 2023, 9:11 PM
(9th September 2023, 9:01 PM)Master Raiden Wrote: There is no quick and effective way.
There is only a quick and risky way, or a slow and reliable way.
You could make $1,000,000 in a year or two by spontaneously starting a business or by investing aggressively, but there's also a chance that it cripples you and takes you further away from your $1M goal.
You can also make $1,000,000 (after tax) by working at a $100k/year job for 14 years, or by starting off slow in business/investing to make sure you get it right, which might mean you take 10+ years to make $1M from it.
Not that $1,000,000 is that much anyway. Depending on where you are, that money could disappear instantly when you buy a house.
So take your time. Trying to get rich quick will most likely make you broke quick. People who are rich either sacrificed a lot to get to where they are, or they took a big risk and got lucky.
I think I would rather invest into stocks and bonds. I know it's risky as hell, but I also know that I wouldn't want to be crippled during the process. So, hopefully that $1,000,000 would happen over time. Now if I somehow hit the numbers sporadically, then there's the possibility of getting lucky. But, then the odds are astronomically low.
