How can a 14 year old kid, such as myself, earn $40,000 dollars by the time im 18?

Question

Just wondering. I would be willing to try anything to get the money. Thanks.

Answer 1

First of all, make at least $1000 ..then you can invest it on something profitable.

To make $1000....

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Answer 2

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Answer 3

baby sit, dog sit, offer to walk dogs, garage sale, mow lawns, sell lemonade, clean houses,clean garages,pull weeds,ebay, a dishwasher at a restaurant(some do hire), paper route,wash inside and clean outside of cars, some fast food places hire, make crafts and sell them house to house.

There are many opportunities, just find something you like to do and go from there. Im 14 and I started trying to make money a few months ago. I like to excercise, so I decided to mow lawns for neighbors(its not neccessarily something that I liKe to do though) But I do like to sell things, and I often do garage sales. Just find something you like and work hard at it, if you work hard you will do well BTW i just made 220 dollars at a garage sale with my brother, and I now have around 1,500 dollars.

Also Don't spend...save almost everything.

Once you are 16 get a job for 3 hours on the week days, and 8 hours a day Sat.  and Sun.  have garage sales to get rid of junk often, and ebay to sell better items.  You will have to work hard for this.

Answer 4

First, being willing to try everything and advertising such is going to get you the kind of attention you don't want from spammers with survey sites and other types who will be out for your money (in return for "helping" you start your own business, or perhaps other more nefarious things). So always be careful what you say.

The good news: It can be done!

For illustration, input the following numbers into this ING savings calculator: http://www.ingdirect.ca/en/tools/calcs/S...

Initial amount = 0 (I assumed you start with nothing, if you start with more you can just put it in).

Savings goal = 40,000

I will contribute 802$ every month

I will be saving for 4 years

Interest rate = 3.0%

Total after 4 years is just slightly over 40k. 2,300 or so dollars of that is interest.

The only difficulty then is getting that 802$ per month for 4 years. You'd have to work at least 25.25 hours a week for 8$ an hour. You'd also have to consider taxes, so you may have to bump that up to 27-30 hours per week at 8$ an hour.

Also if you keep it in a savings account you will be taxed on the interest earned (though this will be exempt up to $5000 with the new tax free savings accounts starting in 2009).

You'll notice if you play around with the calculator that if you have a higher interest rate you'll need less money every month. You can talk to a financial planner about getting a slightly higher interest rate through safer vehicles like GIC, or some very well rated bonds.

Good luck!