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How does one become rich?...and other career choices.
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That's what all my friends say too. But if your parents are willing to let you do it then why not? Why should I blow 800 bucks a month on rent? I don't want to be stuck paying a 1500 dollar mortgage with no backup money in a bank account. Why not sit at home, save up 150k in 3 or 4 years, buy a condo straight up and then take equity out and buy more houses? That and I get free meals and if I lived alone I'd be eating ramen noodles instead of mom's cooking....
If I could stand living at home I would definitely do it to save money. There is nothing like a big bank of cash and compound intrest. My plans include making a boatload of off ebay, my 40k from work, and hopefully be able to get into real estate soon.
I also have a few business plans that I'm working on as well.
I also have a few business plans that I'm working on as well.
And many come from quite humble beginnings.
It is an easy question to answer: you go where the money is. Period.
Of all factors said to differentiate those who accumulate wealth from those who don't, such as ethics or morality (I'm poor, but at least I can sleep at night), privilege (he inherited it or his family was wealthy), and nepotism (its not what you know but who you know), the only factor which is substantially true across the board and without considerable exception is attitude.
What sets the wealthy apart from others, excepting those who inherit their wealth, I'm referring to those who generate or earn their wealth from humble beginnings, is that they do not believe wealth comes to you. You have to go where the money is - where ever that may be - and earn it.
Many people are of the unworkable belief that they are the center of the universe and therefore the money should come to them. I've worked with dozens of these types over the years. This is the equivalent of believing employers should come knocking on your door instead of you knocking on theirs.
There is no serious money in turning lug nuts on an assembly line, or asking "Do you want fries with that?", or driving a delivery truck, being a nurse, or [insert any number of high supply/low demand jobs here]. Therefore, don't pursue any of those things, if generating wealth is important to you.
You pursue those things that pay what you desire to be paid and avoid those things which do not. Those who will remain poor or will never generate substantial wealth say they want to make more money, but will never do anything to make that happen except sit around complaining about it, with the possible exception of forming a union and forcing their employer to pay them what they desire to be paid (making the money come to them vs. them going where the money is).
This mentality is prevalent throughout society, as indicated by obese people who sit around 'wishing' to be thin but never getting their fat ass off the couch and into the gym. Or, someone who wants to have a muscular physique, but won't get their ass off the couch and into the gym.
People want the 'upsides' of some thing they don't have, but don't want any of the 'downsides' necessary in achieving it. The fat person who sits around complaining about being fat wants the 'upsides' of being thin, but wants no part of the 'downsides' of getting there (hard work, getting off the couch, letting go of the crutch they find in food, changing their lifestyle).
There are many other examples of what differentiates those who go out and get what they want vs. those who sit around wishing it would just fall out of the sky, but you get the idea.
I live at home and my wife and I make more than 50k a year. Well I am a student, but that's still no excuse to most people. In America, you are supposed to buy your own house, regardless of how much debt it takes, pretty much immediately after college or getting a good job. This is not the prevailing world opinion, however. Many people like living with their parents (shocking no doubt). What good is your individual freedom if your financial situation holds you back from living a more stress-free life? I hear people talking about money problems all the time, and these same people make fun of me for living at home. Talk about mixed-up priorities! When I graduate next year, I will be buying my third piece of real estate in as many years (this one to live in), and have exactly zero money worries even though the house is probably gonna be 3000 square feet in a nice area of town. So to each his own, but be careful when you criticize other people for their choices. They may actually be smarter than you.
ShOcKwAvE827
Senior member
"takes money to make money" unless your have world-class talent in singing, acting, athletics, inventing, and/or luck, you won't be mega-millionaire.
OS
Lifer
Why the hell should he move out? Cause you ATers say so?
I've lived on my own for 2 year but I live with my parents again. I have no idea why everyone says it's such a bad/loser thing to do. In socal, not living on your own is like picking up an extra 15K every year.
My parents mostly like having me around and I help them with errands/tasks that they don't do well themselves.
I just started working, first couple weeks are probationary, after which I'll make about 40K a year. I have no immediate plans to move out.
I did the same thing. Paid my way through several years of college then had an apartment for a couple of years. Moved back home and finishing my degree. I couldn't seem to save a dime living on my own, but I was popular. Now I have less friends (seems like I developed lepracy), but I am better off financially. I guess when I move back out again next year then I can be part of the mainstream again, lol.
If you REALLY want to be rich, as in REALLY REALLY, then there's a chance you'll get there. But like someone mentioned above, you're gonna have to put in the work for it. The only true way to be ub3r-wealthy in america is (for the most part) to work for yourself. It might take one try, ten tries, or a hundred tries, but if you keep at it, then you might eventually find an idea that catches on and makes you wealthy.
Most importantly, I'd say just capitalize on your skills and what you enjoy doing. Lucky for us Americans, you can make money doing just about anything if you're creative or dedicated enough.
Most importantly, I'd say just capitalize on your skills and what you enjoy doing. Lucky for us Americans, you can make money doing just about anything if you're creative or dedicated enough.
CrazyPerson
Platinum Member
i agree
OS
Lifer
In CA, any of the cities are expensive to live in, SF/SJ, SD, LA. If I were to live on my own, 40K after taxes, rent, car and other expenses, is freaking nothing.
Many of friends also live with their parents. You can accuse them of being losers all you like, but they're all college graduates from UCs, many are engineers/programmers holding professional jobs.
One of my friend makes 70k+ a year, drives a BMW and still lives with his parents. I know some of you guys have already judged him based on that sentence. But he bought the house him and his parents live in, which is way, way more than most of you can hope to say.
Repeat after me.
You are still living at home dependant on others. And you want to know how to become rich?
First step is to take responsibility for your life, then you can take the risks associated with becoming rich.
DUDE! You still live with your parents. Me thinks the real world will wake you up soon.
-edit-
career choices? Sales, Own business, real estate, equity building ventures, product innovation/invention, anything but a paycheck.
You are still living at home dependant on others. And you want to know how to become rich?
First step is to take responsibility for your life, then you can take the risks associated with becoming rich.
DUDE! You still live with your parents. Me thinks the real world will wake you up soon.
-edit-
career choices? Sales, Own business, real estate, equity building ventures, product innovation/invention, anything but a paycheck.
alkemyst
No Lifer
I am wondering what these ebay riches are....some companies make a lot on ebay, but for most it's probably just a small portion of their business. My company sells a lot of network gear on ebay, but it's less than 10% of our yearly sales and even less in profit...by the time we list it on ebay we are merely recovering costs. Others I have talked to use ebay the way way...some markets that do really good are pr0n on ebay and scammers with a penchant for wording their ads to stay within the TOS.
I can see moving home to get back on one's feet after career problems, school, bad breakups, etc...but as an adult in the US it's not a socially acceptable thing even with the cases I mentioned. I am at home now, after getting laid off and a 'spring cleaning' of my apartment done by my ex fiancee....my parents are cool as hell but I need to get out of here as soon as possible. It's a huge house, my bedroom here is almost as big as my apartment living area, but I still have to deal with most of my stuff in storage...not being able to just lounge around / do things here like my own place, etc, if I wasn't in a major relationship I would not be able to handle it. Anyone pulling in 50K+ living at home is a little ridiculous, unless their living quarters are a separate apartment type deal. Most of the time if someone owns the residence it is said "He let his parents move in with him" or "His parents live with him", I knew a guy that did have a nice income and claimed this...at a dinner it came out when someone commented about how nice it was they moved in with their son...his father was not too happy apparently with him living there as it was, and after hearing that supposedly it was the son being the provider snapped...some after that he got his own apartment, but still told people 'he bought their house'.
One thing almost every person that became rich did was leave home at an early age, despite the suffering it caused them. You don't get rich thinking rationally or doing the right thing....you get rich doing something against the grain and different. You have to go down that path no one else has yet or get further down one someone else started.
An MBA also should not take several years, there are many two - three year programs out there designed around the 9-5 hours many in business work.
I can see moving home to get back on one's feet after career problems, school, bad breakups, etc...but as an adult in the US it's not a socially acceptable thing even with the cases I mentioned. I am at home now, after getting laid off and a 'spring cleaning' of my apartment done by my ex fiancee....my parents are cool as hell but I need to get out of here as soon as possible. It's a huge house, my bedroom here is almost as big as my apartment living area, but I still have to deal with most of my stuff in storage...not being able to just lounge around / do things here like my own place, etc, if I wasn't in a major relationship I would not be able to handle it. Anyone pulling in 50K+ living at home is a little ridiculous, unless their living quarters are a separate apartment type deal. Most of the time if someone owns the residence it is said "He let his parents move in with him" or "His parents live with him", I knew a guy that did have a nice income and claimed this...at a dinner it came out when someone commented about how nice it was they moved in with their son...his father was not too happy apparently with him living there as it was, and after hearing that supposedly it was the son being the provider snapped...some after that he got his own apartment, but still told people 'he bought their house'.
One thing almost every person that became rich did was leave home at an early age, despite the suffering it caused them. You don't get rich thinking rationally or doing the right thing....you get rich doing something against the grain and different. You have to go down that path no one else has yet or get further down one someone else started.
An MBA also should not take several years, there are many two - three year programs out there designed around the 9-5 hours many in business work.
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