audipwr1

Obviously, but that is not what im looking for.

I want people who have a net worth over 2mil and gather enough data to see whether the text millioniare mind is valid or not.
I suspect many of the conclusions made allow for a "feel good" type mentality to people who didn't suceed in college etc.

"Good decisions are always made with valid data" thats my quote for this particular questioning

themarsman

Age: 38
SAT: Never took this test, scored above average on the ACT
College: Took classes that related to my business at various local colleges, never worked towards a degree. Basically I only took programming, business, math and accounting classes.
GPA: 2.5 - High School, 3.5 - College
Profession Type: Entrepreneur, I own several businesses. I started my software development company while I was in high school.

In my opinion College is overrated as far as making money. I have not read the millionaire mind, but usually I find these books to be pretty worthless.

Arrwin

Very interesting. Thanks for sharing.

Was there a time in your life when you were uncertain whether you made the right decision (to not become a member of the rat race) or not?

np2004

Any suggestions on what I can do to better my chances of landing a high paying job in the business field I am leaning more towards finance I love the stock market and investing? I am 27yr old male that graduated from the Univeristy of Cincinnati with a degree in Biology with a 3.0 GPA overall. I am currently in a small private liberal arts college in Ohio working on my MBA. My GPA in this MBA program is a 3.9 and I manage commerical real estate my family owns. Since im not in a top notch MBA program what can I do to boost my resume since almost all of of my experience is in managing real estate my family owns? All comments would be appreciated.

themarsman

While I was still in high school I took a job at an engineering firm doing CAD work. I developed quite a few programs for them that helped them expand their business.

I made them several millions of dollars by allowing them to generate quotes, bill of materials, and prints automatically, while I was getting $6 / hour. I quickly realized that I would be better of doing this on my own and started my own company. I can honestly say I have never looked back, I can't imagine working for anyone but myself.

I went to visit the engineering company a few years ago to see if any of the people I worked with were still there, it turns out the company was purchased by a larger company and was still using my software! I knew I should of worked out some royalty rights!

toddk911

np2004: Find a way to put the biology degree to work with the MBA, i.e. bio tech.

If anyone in here plans to "make millions" by working for someone else is sorely mistaken. Even those that due are in the high executive levels and usually in their late 40s-early 50's minimum.

If you want the money at an early age, follow suit with themarsman.

Working hard for someone else only makes them more money.

Also, do not get too tied up with the self help/personal success books. Most of those authors have very limited financial success until they get proceeds for the sales of the books

Spend time thinking about what you love and how to make money doing it.

"Obviously, but that is not what I’m looking for."

A. It is as obvious as breathing and blinking our eyes, but how many times do you stop and think about your breathing or eyes blinking.

B. That is what you should be looking for. You’re approaching this in a systematic, data analysis approach and trust me, that is not the path.

Money and success come from ideas, not data. Yes, the end result can be a very technical field or data related, but the path to success from a tech/data field is still "ideas".

If Gates, Jobbs, Buffett did not know how to approach their technical knowledge in a manner that would bring their ideas to fruition, we would never know who there are.

audipwr1

I'm not looking into it for self help for myself. Im 24 and well on my way to a very nice net worth.
- and got to this position via going to a good school and getting good grades, which the book says doesnt matter

I think that this author drew incorrect conclusions from his data in order to sell more books. This is the whole point of why I am questioning it not looking for a data method to make money.

I love my job, I get paid tons to do it, and for the most part I'm my own boss.

kauai_diver

Hi Matt,

Picking a career is a tough choice... Try to find something you like doing and makes money For me that was software engineering. For me building new things even though its just software is fun, and its potentially a very lucrative career. I got swept up in the dot-com boom in the late90's early 00's and thats basically how I can afford a Porsche (mind you a 997s thats on order).

For a cgt I would have had to dump some stock earlier but whats done is done.

Life is short, try to enjoy your career choice!
-K

gravedgr

Granted, I've only been following Rennlist for a short while, but this is definitely the most insightful and informative post I've come across so far. Like the original poster, I'm trying to figure out what I could do that would be both a) enjoyable and b) put me on the path to self-sufficiency. Unfortunately, I'm 36 and have not yet had the light bulb go off.

That being said, I want to offer my $.02 for those who never get inspired, who never have that "great idea", who struggle for years and years trying to find the right niche for themselves. I offer 2 suggestions: pay yourself first, and pay yourself first. No, I didn't mis-type.

1. As someone else said, start your 401k/Roth/traditional IRA/investment of choice as early as possible. Max it out as best you can. As someone once said, compounding interest is the greatest force in the galaxy. UNTIL you do find that idea that leads to your own successful self-owned business, don't let corporate salaries be an obstacle for saving big and saving soon.

2. Don't forget to spend some on yourself. You never know when life is going to throw you a curveball. One day you're doing fine and working towards that end goal, the next you are unable to work a standard job - or worse, life has come to an end. Invest first, reward yourself second. Despite being a poor investment, getting in my 911 every morning helps me keep plugging away in Corporate America while I look for my particular opportunity to go my own way. Never forget to have some fun along the way.


I dropped out of college after 2 years and went searching for a career that interested me. It took me a while to find an interesting job in technology, and even longer to find one I liked that paid well. By 27 I was only making $40k, but I had decided to return to school so I was working a job that helped pay for evening classes. I ended up graduating near the top of my class with honors in 1999, and now make several times my old salary.

I'm still looking for that great idea for my own business, but I haven't let not finding it yet stop me from 1) investing in my future, and 2) enjoying my present. According to our financial advisor, our retirement age has moved down to 50-55. Even if I never end up owning my own business, I'm working hard and investing smart to move that down to somewhere in the 40's.

To quote someone else in this thread: DON'T GIVE UP. Like the banner says at our martial arts school: A black belt is a white belt that never quit.

erikjwells

Age : 38
SAT : never took it
College : joined the military instead
Profession type : serial entrepreneur

This thread is probably one of the most interesting I have seen in a long while....

find something you enjoy and are passionate about....
focus on being the absolute best at what you do....
learn the rule of 7's and the power of compounding interest....
live within your means and only accept 'good debt'....
invest in your retirement early and often (max out that roth 401k every year as soon as you can)
read the millionaire mind, the rich dad poor dad books and any other book that will help you to 'think like a millionaire' (none of these books will give you the answers.... its what worked for them... and it wont be the same for you) but what they will hopefully give you is a framework to develop a 'positive millionaire mindset' rather than a 'negative poverty debt laden one'.
find successful people and surround yourself with them... success breeds success.
NEVER EVER GIVE UP --- determination is critical to every success --- for every historical success you usually find many many failures that preceded them.

If you follow those guidelines... it won't matter what career path you take whether or not you work for someone else or become an entrepreneur.... whether you graduate from an ivy league school or drive a bus....

try to find someone with the rich dad poor dad board game (play it) and you will see that it is possible to exit the rat race no matter your profession... and usually the more money you make... the longer it takes to exit the rat race.... but every one can get there.

For the one that posted that entrepreneurs shouldn't be giving career advice.... who the hell do you think you work for?? its guys like us that create places for you to work...

I grew up poorer than dirt, served proudly in the military, and followed my own advice.

Started my first business at age 22 with a pre paid credit card, a whole lotta heart and a passion for what I did, always putting the customer first ..... had my first failure at 26 and lost everything..... started all over again... and haven't looked back since...

Left the rat race at 36....

Was debt free at 38...

got my first 911 6 days ago....

will probably order my first CGT within 2 years...

If I had known all that I know now at 18.... I would have never even entered the rat race

My $1.35 worth....

~Erik

erikjwells

The rat race ---- you know the american dream --- go to work and earn enough to pay off your debt service and maybe have a little fun....

Leaving the rat race --- being debt free, not having a typical JOB and having enough passive income to have as much fun as you want, when you want, how you want.

and as for the CGT --- I either buy one used or purchase whatever porsche has made to replace it....
the actual point was that in two years time I will be ready to move up to that league of car, might be sooner who knows....

Go buy Robert Kiyosaki's books the first one entitled "Rich Dad, Poor Dad" and he tells the tale of the 'rat race' and gives some insight on how to leave it... no matter your station in life.

~erik

erikjwells

I think Porsche's shareholders might have something to say bout that considering the CGT is the best selling supercar (or something or other I read in a previous thread)....

but if not oh well....

I did always fancy a Lamborghini or perhaps a Ferrari .. I'm not one for collectors cars so whatever the newest in speed and technology at the time I get itchy will do just fine...

Although looking at the cars that RUF is producing... perhaps one of the RUF 911's will strike me first..

One thing I have learned... as long as there are people with expendable incomes and a passion for speed, their will always be a car designed by someone to whet their thirst.

cheers to anyone not in the rat race anymore...

~erik

ztnedman1

Buy real estate. Where i live property value has gone up 3 times since i moved here 3 years ago. Bottom line find an area that you think will build up then buy as much land as you can without "killing yourself" and sit and wait. In the meanwhile find somethign you like to do. Money may not come super quick, but early retirement is gaurenteed.

As Mark Twain said: "Buy land, because they aren't making any more of it." Real estate will never give you negative return.

I know that my first step out of college is to save some money get a house then buy a good amount of land, ive seen it work for lots and lots of people around me, and i plan to do the same.

Other than that, to make money, get into sales, or start a business that makes/does thing people will buy, and the money appears.

agentf1

Unfortunately I am not in medicine but think most MD's are probably underpaid. It seems the insurance companies is ruining the medical profession and the care we are recieving. Sorry for going off topic here, I do not mean to hijack this thread.

I only read the first few pages but have to say most is excellent advice. It is also easier said than done. I am not making excuses and am not doing too bad for myself but I am no where near CGT territory. Probably not even in TT territory but am modestly comfortable. I have always been an employee and am currently in IT. I have also always thought about being my own business but liked the false sense of security being an employee. The way IT is headed I am think I will soon have no choice but to be a consultant although I am seeing rates that are more like employee hourly rates than consultant rates (I am seeing rates around 50hr, they were closer to 150hr a few years ago). Obviously I am in no hurry to give up my benefits and 401k etc etc for a similair rate which has me thinking what else can I do for a living which is why I say it is easier said than done. If it was easy I think everybody would be rich and driving CGT's. If I was asked my advice I would say learn from my mistakes and get the best education that you can while you are young. I went back to school after being in the job force for 10 years and the older you get, the harder it is and the less time you have for it.

dcmelik

John Dunkle deleted nikkis34's post. I'd like to decide for myself whether it was 'stupid.' Perhaps I was remiss in not fully digesting it the first time around. But where nikki34's post was deleted and, apparently, the author banned, polar peter's post, who engaged in ad hominem, e.g., "typical angry democrat," was not similarly edited.

John Dunkle has a right to edit posts in a private forum. The CGT forum is about CGT owners. Polar Peter is one of them. He is therefore exactly the kind of person, along with others who have posted their success stories in this thread, who advertisers on this site aim to reach. Nevertheless, perhaps JD should have moved the entire "how do you make your money" thread to OT if he wanted to avoid a confrontation between the haves and the have nots.

It's at least as valid to suggest that wealth exploits labor as it is to suggest that wealth gravitates only to persistence and hard work. Although I find the latter less likely to be true, perhaps the two ideas are not mutually exclusive. Nor is it true to say that all Porsche owners believe what polar peter has asserted. We can agree to disagree here.

PM me if you have an archived copy of the nikks34 post. Maybe it is stupid, but I'd like to decide that for myself

David Cmelik
87 928 S4 auto "guards red"
01 986 5 speed "seal grey metallic"
00 BMW 323i black on red