mkell

Edit as of July 2007:

Two years ago, this was my original post. Rereading this with so much more experience, knowledge, and a totally different mindset (this is bound to happen just going through high school) makes my original post sound funny and out of line. If it were written by someone else, I'd make a reply and try to straighten his priorities out.

A few cliff notes:

1. DO WHAT YOU WANT TO DO! Don't settle for anything less than happiness. If you aren't happy, it isn't worth it.

2. Happiness, health, and family are the only measurements of success. Fortunately, I've been blessed with these so far in my life. However, I know people or have read stories that have to deal with lossing one or more of these qualities and it sucks. I would not want to live under circumstances like that.

3. There is money to be made everywhere; some places it may be easier than others. Follow your gut feeling and don't negotiate as I said above. Once you are in the field that you really love and have a passion for, it should be easier to work and put your time in to. Consequently, time, work, and effort can provide a payoff once you find where money can be made in you field.

4. HARD WORK. Easier said than done, but it's key in most cases. Some may not seem like they do much work, but I bet they got to where there are with plenty of it. Others may have been lucky and in the right place at the right time, but you can't count on that.

5. Be a man (or woman) for others. This is the Jesuit tradition and I find it to be rediculously uplifting. I'm not big on religion and am not trying to sell you the Jesuit mission, but keeping others in mind and helping the less fortunate makes you feel so good at the end of the day. You don't need to dedicate all your time to helping the poor, but I suggest doing some type of project at least once a year to help out the poor/needy/homeless/etc....at the very least it should give you a huge reality check.

6. Be fair and play right. Karma, baby.


To anyone looking at this thread for advice, there is plenty located within. Happy reading and good luck. That is all.

wdasilva

investing and building a business are the key to your dreams. to be quite honest, im young myself at 20, and i look foward to keys to a 959, cgt or mcLaren someday soon. But building a business... it is the richest and wealthiest game in the world. good luck

pearldrum944

it's easy to get a CGT...win the lottery.

Denstoyz

Being on someone's elses payroll normally doesn't cut it! It may be a way to start but eventually you need to be working for numero uno! It's amazing what you can do once you're in business for yourself and you control your revenue and the sky is really the limit! I'm 36 and have worked for myself for 14 yrs now - I wouldn't have it any other way! GOOD LUCK!

GoFastKindaGuy

You can only make money, either working for yourself or for others, if you are smart and passionate about whatever you do -- and do it well. Next, if your talents give you the luxury of choice, choose a high margin business. Then, choose a business of great potential. Each successive choice makes the pile of money larger. Always take care of the person who separates themselves from their money to pay for your goods or services. Finally, figure out how to take money out to pay for your luxuries. In my case and many others, liquidity comes only when you sell the business. Growth takes money.

C2 Turbo

I sell newspapers and flowers at big interesctions

lexpilot

Most wealthy folks I know owned their own business. The " Millionaire Next Door" and " The Millionaire Mind" pretty much outline the way most net worth millionaires are made. In business you want to be in the place where large transactions take place which is not retail.
The commodity you deal in is not as important as your efficient use of money over time. Become self employed as soon as you can. Borrow as little as you can along the way. Limit your debt. Pay cash. When you become a one millionaire start investing in real estate. Once you get to that point it becomes easier to become wealthier because money is a tool that will work for you to become a two millionaire, three millionaire, four millionaire, and so on.
About 1% of Americans have a net worth of $3 million. Most start with nothing. It is doable.

CP

Matt,

For a 16 years old, you seem very mature and communicate very well. My response here may be a tad long.

I like these type of threads as I learn from other's perspective and sometime the secret to their success. FWIW, I'm an architect, strictly residential architect.

My take is that one's job/career should not be dictated by earning power alone. As money is usually just a mean to an end. If you really know what you value in your life (or life style), you may find different answers than just a high-paying job.

For myself, I want low stress, no stress on me, no stress on my family. I therefore won't take a job that will make me go home and kick the 'proverbial' dog. I want financial stability, so I have a steady (8-5) job that pays my mortgage, insurance and grocery bills. As such, owning my own business as my sole source of income is not a consideration, because in the course of building that business, I will experience a period of long hours, strapped cash flow, and high stress. Luckily, architecture is something that I can also practise on the side. That is my 'business' if you can call that. I don't look at it as 'work' as I really love design, so that's not really work in my book. As the saying goes: do something you like and you'll never work a day in your life. I'm extremely blessed that my side-job designs more than double my regular income. It pays for all my toys, vacations, retirement, kids' college, and cash savings. In the mean time, I have vary little deadlines, very low stress, and exciting work. It's also great that I don't have to keep up with any state-of-the arts technologies like someone in the tech field. I won't wear out my body so I can 'work' (design) as long as I feel like it. To me, retirement means no office hours and no bosses, but it does not mean stop designing. I love it.

It also allows me to design and build our dream homes. Did it three times. Here in the Bay Area, that's like printing money. We enjoy our home to the max while accumulate incredible equity. Incidentially, we built 6 other family homes and created $millions in equity for the family. I cannot think of any other 'job' that can deliver the same financial results to me and my family.

I had a stint in public accounting. It was a very prestigeous career, and I was making a lot of money. But I never saw my kids awake, and I always had clenched jaws because of the stress. I decided it was not worth it, and gave up certain partnership in the firm and switched career. That was 16 years ago and was the best move I've ever made. I don't own a CGT. I probably can afford it, but I don't have the urge. My RUF serves me just fine.

Sorry for the rambling. My main point is: know what's important to you, and find/create a job that delivers the quality of life you seek. If you are good at what you do, the $$$$$ will follow. Then you'll have the best of all worlds.

Good luck.

CP

Niels Jørgensen

CP: So true!

What's a CGT at 60 if your life is a wife, kids and friends you haven't seen for 40 years?

Nothing wrong in starting your own business, far from it, just don't do it for a CGT, or any other car for that matter. Do it because it's a challenge. Do it for fun. Do it in spite - because they say you can't. But do it for something that makes you feel good at the end of the day - every day!

1958 Convertible D

Best post I've read on Rennlist. Good advice for everyone, young and old alike.

canuckr

That was one of the most insightful posts I have ever read on any message board in some time. Great advice for anyone.

nikkis34

Edited by John D.

This post is so stupid - I edited it....

Actually - I deleted it to type this...

John D.

W8MM

You mean like trolling on someone else's message board?

Polar Peter

Quote:
Originally posted by nikkis34
"Also, you can open a restaurant and hire some non-skilled workers to run it for you. Pay them minimum wage and keep the rest for yourself.... but there are countless ways to enjoy someone else's hard work."

Spoken like a true angry democrat Nikkis34.

I for one believe (and know) that America provides opportunity for anyone that has the drive and ambition to work extremely hard in order to accomplish their goals, I could never imagine being someone that constantly blames others for my miss-fortunes or lack of opportunity. Opportunity is what you make; it is not handed to you, unless you are very, very fortunate. I did not come from money nor do I underpay those that work for me today. What I did do early own was evaluate and determine what type of business I could get into that was a "nitch" or off the beaten path so to speak. Today I am fortunate to own one of the few companies in this field and it allows me the privileges I enjoy today while improving the quality of life for the 60 employees that work with me, and their families.


The question always remains what are you sometimes willing to sacrifice in the process to achieve them??? Sometimes it is your personal life; sometimes it may be as simple as sleep or food. I believe that ultimately the bigger the risks you take, the bigger the rewards you may have from them, small risks-small rewards, big risks-big rewards. I try desperately to balance my personal life and my business life and for the most part it has worked out, but again it all hinges on the risks you are willing to take and the potential rewards that follow.

I am currently 39 years old. I suggest you try and get into a field that is unique and not necessarily being done by 15,000,000 other people!!!


Good luck my man!!! You’re on the right track by asking the right questions!!

nikkis34

Yeah, but are those 60 employees driving CGTs?