I need to make $250,000 or as close as i can get to $250,000 in 5 years. Any suggestions?

Question

I need to make $250,000 or as close as i can get to $250,000 in 5 years. Any suggestions?

Answer 1

David, many people may laugh at your question, but you have one thing that most people don't, a lot of desire. That can take you a long way, but you have to learn how to channel it into something useful. $250,000 is a lot of money, and the only way you're ever going to accumulate that much wealth is to learn a whole lot about managing debt, saving, managing your career and investing.

Please don't take that as an insult, it's good that you have the desire, but the big test is whether or not you will you back it up with hard work and a lot of thought. Start studying and keep us posted on your progress, I'll be excited to see your next question. Hopefully it will be a little more specific and realistic if you actually go do some research on careers, personal finance and investing.

There are a million places to start, but here are a couple good sites http://blog.money-and-investing.com/2008... and http://www.money-and-investing.com/Stock... . One link will teach you some of the most important personal finance and investing concepts, the other will introduce you to 8 of the most popular investing strategies.

Cheers and best of luck to you,

Odd Lot

Answer 2

get a job...?

You need money to make money.  It's impossible to make real suggestions.  What if you're completely broke right now?  Or, maybe you already have $200K... we don't know.

Answer 3

Get a job that pays $50,000 a year.

Answer 4

make 50000 per year

Answer 5

1. Invest $250K minus 20%, and then buy some CDs.

2. Create wealth from a job so that you save $42K per year, and you will be just shy of $250K.

3. Invest in Stock Options and Commodities with some really small amounts (if that is all you have) and RISK IT ALL......This is very much gambling, but has odds better than Vegas

4. Learn everything about gambling and then go and multiply your money-hands over in Vegas.

5. Borrow from family and return after you make a $1M out of the borrowed $250K.

6. Borrow from Bank against some other collateral or family-collateral or against your own paid-up-home

7. Go for venture financing with a Kool Invention/Idea (be a great sales rep first)

8. Ask yourself WHY?  Is this a NEED or a WANT?  What will you do with it (seriously think before you answer)? What if you have it, and lose it all?  Will that get your life in a world of hurt?

9. Marry a RICH BABE who can give you this sum.

10. Sell a LOT OF LUXURY GOODS in Chicago and New York!

Good luck.......Please share which technique you are going to use and how well it is working for you.

KKP

Answer 6

well, if you have a premed degree, just go to Medical school, doctors get paid a lot of money.